The aims of mercantilists do not include
a. achieving power and wealth for the state.
b. achieving political and economic unity.
c. keeping artisans in the home country.
d. All of the above were aims of the mercantilists.
d. All of the above were aims of the mercantilists.
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Define a contract
A good would not be very suitable to use as money if it
a. is portable because it is needed as a store of value b. is divisible because each unit of money should have the same value c. is scarce because we need more money as the economy grows d. is commonly accepted as a medium of exchange because everyone will hoard it e. lacks uniformity because the money supply would be of varying quality and people will hoard the preferred money and circulate only the less preferred
Higher interest rates ____ the ____ cost of holding currency and therefore reduce the quantity of currency demanded.
A. decrease; opportunity B. increase; transaction C. decrease; transaction D. increase; opportunity
Stagflation is characterized by a(n)
What will be an ideal response?