Once a product becomes established, network externalities may create ________ costs that make consumers reluctant to buy a new product with better technology
A) switching B) marginal C) external D) implicit
A
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Because Treasury bills pay a higher return than money and have no risk
A) the transactions demand for money may be zero. B) the precautionary demand for money may be zero. C) the speculative demand for money may be zero. D) all three of the above motives for holding money will be zero.
According to the quantity theory of money currently used by monetarists, assuming velocity is constant (at a value of 5), a 10 percent increase in the money supply will raise
a. nominal GDP by 50 percent. b. real GDP by 10 percent. c. nominal GDP by 10 percent. d. real GDP by 50 percent.
The term human capital refers to education, training and experience
Indicate whether the statement is true or false
The monetary base includes:
A. currency and cash plus commercial bank deposits at the Fed. B. vault cash plus checkable deposits. C. currency and coin in circulation plus checkable deposits. D. currency and coin in circulation only.