The opportunity cost of holding currency decreases when
A) income decreases.
B) the interest rate on bonds decreases.
C) the interest rate on money decreases.
D) wealth decreases.
B
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Which of the following goods is best described as being sold in a monopolistically competitive market?
A) automobiles B) wheat C) fast food D) postage stamps
The new growth theory that arose in the late 1980s has been described as ________ because it treats technological change as ________
A) exogenous, random unpredictable shocks B) exogenous, generated by market incentives C) endogenous, random unpredictable shocks D) endogenous, generated by market incentives
Gresham's Law:
a. applies only to bimetalism issues. b. applies only to monetary issues in general. c. applies to a wide variety of situations. d. is only understood after taking graduate-level courses.
In the macroeconomy, demand-side shifts change:
A. only the price level in the long run, while output eventually returns to its long-run potential level. B. only the output level in the long run, while prices eventually return to their long-run potential levels. C. aggregate demand only, which eventually shifts back in the long run. D. aggregate demand only, which is why the price level remains unaffected in the long run.