In Keynes's liquidity preference framework, if there is excess demand for money, there is
A) an excess demand for bonds.
B) equilibrium in the bond market.
C) an excess supply of bonds.
D) too much money.
C
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If the absolute value of the price elasticity of demand for aspirin equals 0.8 then
A) aspirin has few substitutes. B) the demand for aspirin is elastic. C) the demand for aspirin is inelastic. D) aspirin is a normal good.
If Fuel is Us is in tacit collusion with four smaller propane delivery firms and Fuel is Us consistently makes price changes that the other four firms then also make, this is an example of ________ by Fuel is Us.
A) a meet-or-release clause B) price leadership C) a meet-the-competition clause D) a precommitment
Why do economists use percentages rather than absolute amounts in measuring the responsiveness of consumers to changes in price?
Please provide the best answer for the statement.
Even when a market appears to be a monopoly, it can be contestable if there are many potential entrants.
Answer the following statement true (T) or false (F)