The responsibility for monetary policy in the United States lies with
A. the president.
B. the presidents of the Federal Reserve Banks.
C. the chairman of the Board of Governors of the Federal Reserve System.
D. the Board of Governors of the Federal Reserve System.
D. the Board of Governors of the Federal Reserve System.
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In the figure above, the economy is at an equilibrium with real GDP of $16 trillion and a price level of 110. At this point there is
A) an inflationary ga
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A demand curve displaying the relationship between the price of cars and the quantity demanded of cars should have a slope that is
a. less than 0. b. between zero and 1. c. between one and infinity. d. undefined.