Money demand refers to
a. the total quantity of financial assets that people want to hold.
b. how much income people want to earn per year.
c. how much wealth people want to hold in liquid form.
d. how much currency the Federal Reserve decides to print.
c
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The space on the freeway is fixed at any instant of time. A supply curve that shows this is
A) perfectly horizontal. B) upward sloping. C) downward sloping. D) perfectly vertical.
Smartphone companies protect their monopolies over new products they develop by utilizing
A. low cost production. B. zero economic profits in the long run. C. diseconomies of scale. D. patent protection.
The least costly way to produce any given level of output is indicated by
A. the isocost line corresponding to that level of output. B. the point of tangency between an isocost line and the isoquant corresponding to that level of output. C. the point of intersection between the isoquant corresponding to that level of output and the Y-axis. D. the point of intersection between the isoquant corresponding to that level of output and the X-axis.
A "lean against the wind" policy says the government should not use stabilization policy and simply let the economy "weather the storm."
a. True b. False Indicate whether the statement is true or false