The primary reason that money is demanded is for:
a. transaction purposes
b. asset purposes.
c. precautionary reasons.
d. investment purposes.
a
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Use the following statements to answer this question. I. To maximize profit, a firm will advertise more when the advertising elasticity is larger. II. To maximize profit, a firm will advertise more when the price elasticity of demand is smaller
A) Both I and II are true. B) I is true, and II is false. C) I is false, and II is true. D) Both I and II are false.
The consumption function relates consumption spending to _____
a. the price level b. interest rates c. disposable income d. expectations about the price level e. household wealth
In the United States approximately 80 percent of millionaires did not inherit their wealth. This illustrates the
a. amount of transitory income in the United States. b. effectiveness of government anti-poverty programs in the United States. c. great economic mobility in the United States. d. level of permanent income in the United States.
Of all the taxes collected in the U.S. economy, what percentage is collected by the federal government?