All of the following are reasons why people hold cash money except:
A. money can be used to buy goods.
B. cash earns interest.
C. to avoid losses from changes in bond prices.
D. emergencies.
Answer: B
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Some countries have economies that are extremely market-oriented, while other countries have ___________ economies.
a. private b. textile c. command d. internal
Leisure-Consumption indifference curves
a. slope upward and are concave. b. slope upward and are convex. c. slope downward and are concave. d. slope downward and are convex.
Along a curved line, the slope at the maximum
A) is greater than zero. B) is zero. C) is less than zero. D) may be greater than, less than, or equal to zero.
A horizontal demand curve is perfectly elastic because a change in price will induce an infinite change in quantity demanded.
Answer the following statement true (T) or false (F)