The most basic concept of economics is

The Federal Reserve is:

A. the United States' central bank. B. a Congressional committee. C. another name for the U.S. Treasury. D. the largest commercial bank in the U.S.

The economic way of thinking has to do with:

A) analyzing benefits but not costs. B) analyzing costs but not benefits. C) making choices at the margin. D) making the distinction between microeconomics and macroeconomics.