The transactions demand for money is most closely associated with which of the following functions of money?
A. Standard of value.
B. Standard of deferred payment.
C. Store of value.
D. Medium of exchange.
Answer: D
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The per se rule would have not found a well-behaved, but gigantic, firm to be in violation of the antitrust laws
a. True b. False Indicate whether the statement is true or false
Which of the following statements best reflects Keynes' view of the aggregate supply curve?
A. It tends to be vertical, because the economy naturally tends toward equilibrium positions of full employment. B. It tends to be upward sloping (but not vertical), because as we try to produce more output out of our given resources, some labor has to work overtime at higher pay, driving up costs and prices. C. It tends to be horizontal during periods when substantial amounts of resources are unemployed. D. It tends to slope downward and to the right reflecting people's natural tendency to postpone purchases when they lose their jobs.
If aggregate demand in the United States had grown more slowly than it actually did in 2010, the
A. unemployment rate would have been even lower. B. inflation rate would have been even lower. C. unemployment rate would have been the same. D. economy would have grown faster.
A good is ______, when a seller can prevent people who did not pay for a product from obtaining its benefits.
Fill in the blank(s) with correct word