If the cross price elasticity of demand between goods A and B was equal to 0.5, those goods are substitutes.
a. True
b. False
Indicate whether the statement is true or false
Question 2
One uniquely American aspect of central banking is that:
a. the United States has 12 central banks rather than one.
b. the Federal Reserve is a private institution with no governmental supervision.
c. the dual banking system created two parallel central banks.
d. the U.S. Treasury runs the Federal Reserve as an extension of the Executive Branch.
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