Use the following graph to answer the next question.
Which line in the graph above would best illustrate the transactions demand for money curve?
A. Line 1
B. Line 2
C. Line 3
D. Line 4
Answer: B
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Firms pay famous individuals to endorse their products because
A) famous people only consume high-quality products. B) apparently demand is affected not just by the number of people who use a product but also by the type of person that uses the product. C) famous people obviously know what are the best goods and services. D) the firms are irrational and are wasting advertising expenditures.
To economists, the term utility refers to the
a. usefulness of a good in relation to its scarcity b. necessity of a good c. ratio of marginal utility of a good to its price d. quantity of goods a consumer has in reserve, meaning goods unconsumed e. benefit or satisfaction a consumer receives consuming a good
The first antitrust law was the __________________________.
Fill in the blank(s) with the appropriate word(s).
Credit cards are NOT a part of the M1 or M2 money supply.
Answer the following statement true (T) or false (F)