A household's quantity of money demanded is defined as
a. the amount of income that the household chooses to hold in the form of money, at each possible interest rate
b. the amount of wealth that the household chooses to hold as money, rather than as other assets
c. the household's desire to have greater financial wealth
d. the percentage of each dollar of income that the household wishes to spend
e. the total amount the household decides to hold in cash, bonds, and other assets, at each possible interest rate
B
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_________ are more inclined to keep the government hands off the economy and favor adhering to fixed rules.
A. Conservatives B. Liberals C. Politicians D. None of the above is correct.
Suppose per capita real GDP grows by 7% per year. Based on the Rule of 70, approximately how many years will it take for the level of per capita real GDP to double?
A) 7 years B) 10 years C) 4.9 years D) none of the above
An example of a lump-sum tax is a(n):
A. income tax. B. property tax. C. sales tax. D. head tax.
According to an economist, which of the following would be an example of investment spending?
a. A firm spending $8 million for the maintenance of 50 recreational parks across its home country b. An individual buying $1 million of stock in a leading software company c. An individual spending $0.5 million in government bonds d. A firm spending $10 million to purchase a new factory