When people hold money to transact purchases they expect to make, this is known as the:
a. precautionary demand for money.
b. liquidity demand for money.
c. spending demand for money.
d. speculative demand for money.
e. transactions demand for money.
e
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To calculate tax revenue:
A. divide total revenues by the tax per unit. B. multiply total revenues by the tax per unit. C. multiply the tax per unit by the number of units of the item being taxed. D. multiply the tax per unit by the price of the unit being taxed.
The WTO replaced the GATT in
A) 1900. B) 1945. C) 1960. D) 1995.
Zane's Vanes is a service that restores old weather vanes. Zane has just spent $125 purchasing a 1920s-era weather vane which he expects to restore and sell for $500 once the work is completed. After having spent $125, Zane realizes that he will need to
spend an additional $200 on materials to complete the restoration. Alternatively, he can sell the weather vane without restoring it for $200. What is his marginal benefit if he sells the weather vane without restoring it? A) $75 B) $125 C) $200 D) $300
Governments tend to set price ceilings:
A. to prevent consumers from choosing the wrong goods. B. to ensure producers make enough for everyone. C. to ensure producers make enough profit to stay in the industry. D. to ensure everyone can afford certain goods.