Alberto purchases ten cups of coffee a week. The amount of money that he holds to purchase ten cups of coffee is the
A) asset demand for money. B) precautionary demand for money.
C) money balance demand for money. D) transactions demand for money.
D
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In a Malthusian world, what would improve the standard of living permanently?
A) a war B) a new medical drug C) birth control D) democracy
The free rider problem _____
a. leads to an understatement of demand for the good in question b. is beneficial because it leads to lower public spending c. is functionally equivalent to the transitional gains trap d. is more prevalent in small groups
Price elasticities are calculated for four goods, and the values are: 4.5; 3.7; 1.0; 0.2. Which price elasticity is most elastic?
A) 4.5 B) 3.7 C) 1.0 D) 0.2
What is the present value of an infinite stream of annual payments of $10,000 per year if the first payment is received one year from today? Assume the interest rate is 10 percent.
A. $100,000 B. $1,000,000 C. $10,000,000 D. $1,000,000,000