Speculative demand for money is a(n):
a. positive function of prices.
b. inverse function of prices.
c. positive function of interest rates.
d. inverse function of interest rates.
e. function of unexpected needs.
d
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When a country forgoes its own currency and starts using another country's currency as its own, we say that this country has
A) created a currency board. B) undergone dollarization. C) adopted a managed exchange system. D) adopted an exchange rate monetary system.
The real internal rate of return on a college education is about
A) 0%. B) 2.5%. C) 6.9%. D) 15%.
The basic tools of supply and demand apply to
a. both markets for goods and services and markets for labor services. b. markets for goods and services but not to markets for labor services. c. markets for goods and services but not to markets for factors of production. d. all markets except those in which demand is derived demand.
Equilibrium price is _____ and equilibrium quantity is _____ units.
A. $4; 4
B. $6; 10
C. $8; 16
D. $8; 10