Who believed that people had transactional, precautionary, and speculative motives for holding money?
A. John Maynard Keynes and the classical economists
B. Neither John Maynard Keynes nor the classical economists
C. The classical economists, but not John Maynard Keynes
D. John Maynard Keynes, but not the classical economists
D. John Maynard Keynes, but not the classical economists
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Suppose two companies, Macrosoft and Apricot, and considering whether to develop a new product, a touch-screen t-shirt. The payoffs to each of developing a touch-screen t-shirt depend upon the actions of the other, as shown in the payoff matrix below (the payoffs are given in millions of dollars). 
Suppose Apricot makes its decision first, and then Macrosoft makes its decision after seeing Apricot's choice. What will be the equilibrium outcome of this game?
A. Apricot will develop a touch-screen t-shirt, and Macrosoft will not. B. Macrosoft will develop a touch-screen t-shirt, and Apricot will not. C. Neither Apricot nor Macrosoft will develop a touch-screen t-shirt. D. Both Apricot and Macrosoft will develop a touch-screen t-shirt.
Rent controls generally provide the tenants the most efficient housing choice in the long run and maximize economic welfare.?
Indicate whether the statement is true or false.
What term is defined as the change in the amount consumers will buy because they can buy a different product instead?
a. inferior goods b. normal goods c. income effect d. substitution effect
The president of the Micro Brewing Corporation asks you, as the company economist, to forecast changes in consumer beer purchases associated with a proposed price change. You conduct a survey and find that if the price of a six-pack increases from $5.50
to $7.50, the quantity demanded will decrease from 2200 units to 1800 units a month. Should the Micro Brewing Corporation raise its price? Explain the economic basis for this recommendation to the president. Please provide the best answer for the statement.