The transaction demand for money is most clearly related to its use as a
A. medium of exchange.
B. standard of value.
C. measure of value.
D. store of value.
E. standard of deferred payment.
A. medium of exchange.
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Refer to the table above. If the rental price of machines is $140 per day, up to how many machines should the firm rent?
A) 2 B) 3 C) 4 D) 5
Marginal cost for a firm can be derived from its demand curve.
Answer the following statement true (T) or false (F)
A "satisficer" is a person who
a. always chooses the best course of action. b. often chooses the worst course of action. c. makes decisions that are merely good enough. d. studies both economics and psychology.
All of the following countries have been described as socialist economies, except
A. Norway. B. France. C. Sweden. D. The United States.