Economists use different definitions of money because
A) deposits can be domestic or international.
B) deposits may be held at banks or savings and loans.
C) it is not always clear which assets are used primarily as money.
D) there are differences in the frequency with which depositors use their accounts.
C
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Think about a publishing firm that uses labor, ink, paper, and electricity as its variable inputs, and rents building space and printing presses as its fixed inputs. Describe how this publisher's short-run response to an increase in its labor costs would differ from its short-run response to an increase in one of its fixed costs
Taxes on polluting firms have
A. can easily be avoided and are therefore, unsuccessful. B. been successful in reducing water pollution in the Ruhr River basin in Germany. C. more advantageous over voluntarism and direct controls. D. not been used in the United States.
The value of a model is determined by
A. the usefulness of its predictions in the real world. B. the realism of its assumptions. C. the extent of the profit earned by applying it. D. the model's attention to real world details.
Is there a union wage advantage?
What will be an ideal response?