The money demand curve, against possible levels of interest rates, has a
A) negative slope.
B) zero slope.
C) positive slope.
D) positive slope for low levels of money demand, and a negative slope for high levels of money demand.
A
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Suppose the demand function for a consumer is given by
a. What is the own-price elasticity of demand for x?
b What is the cross-price elasticity of demand for x?
c. What happens to spending on x as the price of x increases?
d. What is the income elasticity of demand for x? What does this tell you about what kind of good x must be?
What will be an ideal response?
All of the following describes Nazi Germany's economic system, except that
A. the ownership of land, labor and capital was in private hands. B. it was highly nationalistic with much of its production directed toward military goods and services. C. the government dictated what was to be produced. D. a major goal was to redistribute income from the wealthy and the middle class to the poor.
An individual who stores wealth in art rather than money will find that he/she:
A. has far more liquidity than most savers. B. suffers larger real losses during periods of high inflation. C. will incur higher transaction costs when he/she ultimately makes purchases. D. will have to resort to barter exchanging the art for desired goods.
In an oligopolistic market structure, other firms will not notice if one firm experiences increased sales.
Answer the following statement true (T) or false (F)