The transactions demand for money refers to
A. the desire for income.
B. the desire for wealth.
C. the demand to hold money as a long-term store of value.
D. the demand to hold money for use in planned purchases.
Answer: D
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A country producing a combination of 5 units of guns and 6 units of butter would be _________________ (outside/on/inside) the production possibilities curve
What will be an ideal response?
In the United States, the inflation rate has
A) remained almost constant over the past 25 years. B) risen and fallen since the 1970s. C) fallen as a result of OPEC oil price hikes. D) risen constantly over the past 30 years.
A major function of incentive payments, guarantees, and signals is to enable markets to overcome the problem of
A) irrational forecasting. B) efficient forecasting. C) private information. D) public information.
What is the shape of the total revenue curve derived from a linear downward sloping demand curve?
A) Horizontal B) Vertical C) U-shaped D) Inverted u-shaped