Suppose that a company feels that the price of its stock is more than the average small investor can afford. To lower the price the company could engage in a

Capital and operating expenditure budgets do not reflect which cost?

a. insurance b. opportunity costs c. employee fringe benefits d. mortgage interest

Critics of Fed independence argue

A) that it is undemocratic to have monetary policy controlled by an elite group responsible to no one. B) that an independent Fed conducts monetary policy with a consistent inflationary bias. C) that the Fed, since it does not face a binding budget constraint, spends too much of its earnings. D) only A and B of the above.