John Maynard Keynes said that people have three motives for holding money. Each of the following is a Keynesian motive except
A. inflation.
B. transactions.
C. speculative.
D. precautionary.
A. inflation.
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In game theory, a Nash equilibrium is defined as:
A) the dominant strategy of each player. B) a set of strategies for which all players are choosing their best strategy, given the actions of the other players. C) the set of strategies that result in the maximum payoff to each player. D) the set of strategies chosen when the players in a game can cooperate with each other.
Anything that causes the United States to buy more foreign goods shifts the foreign currency __________ curve to the __________
A) demand; right B) demand; left C) supply; right D) supply; left
Microcomputer software is a pure public good
a. True b. False
A monopolist
a. has a supply curve that is upward-sloping, just like a competitive firm. b. does not have a supply curve because the monopolist sets its price at the same time it chooses the quantity to supply. c. has a horizontal supply curve, just like a competitive firm. d. does not have a supply curve because marginal revenue exceeds the price it charges for its products.