Keynesians identify three principal motives for demanding money. They are the
a. transactions motive, precautionary motive, and liquidity motive
b. transactions motive, precautionary motive, and convertibility motive
c. transactions motive, speculative motive, and volatility motive
d. transactions motive, speculative motive, and liquidity motive
e. transactions motive, speculative motive, and precautionary motive
E
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When the free-rider problem occurs in a market for a good, what is true of the quantity of the good supplied relative to the efficient quantity of the good?
A. The good is typically oversupplied in a market where the free-rider problem occurs. B. When the free-rider problem occurs, the good can be provided completely free of charge. C. The good is typically undersupplied in a market where the free-rider problem occurs. D. The good is typically efficiently supplied in a market where the free-rider problem occurs.
If a firm enjoys producer surplus in perfectly competitive Market A of $1000 and would enjoy producer surplus in perfectly competitive Market B of $1200, the firm would consider moving to Market B if
A) fixed costs are greater than $100 in Market A. B) fixed costs are less than $200 in Market B. C) fixed costs are less than $300 but greater than $200 in Market B. D) fixed costs in Market B are less than the fixed costs in Market A plus $200.
If the Consumer Price Index (CPI) increases from 100 to 125 and the nominal wage increases from $125 to $300, what is the change in the real wage?
a. +$175 b. +$300 c. +$125 d. +$115 e. -$175
What is meant by a "discriminating monopolist"?
a. The firm discriminates on the basis of hiring workers. b. The firm violates all antitrust laws. c. The firm evades taxes. d. The firm sells its product at different prices in different markets.