The asset demand for money is related to which function of money?
A. store of value
B. unit of accounting
C. standard of deferred payment
D. medium of exchange
Answer: A
You might also like to view...
Under which of the following scenarios is it most likely that monopoly power will be exhibited by firms?
A) When there are few firms in the market and the demand curve faced by each firm is relatively inelastic. B) When there are many firms in the market and the demand curve faced by each firm is relatively inelastic. C) When there are few firms in the market and the demand curve faced by each firm is relatively elastic. D) When there are many firms in the market and the demand curve faced by each firm is relatively elastic.
Comparative advantage is the ability to
A) perform an activity at a lower opportunity cost. B) determine who your best trading partners are. C) determine the best use of capital goods. D) convince others of the best choices to make in their own self-interest.
If rent-seeking behavior does occur, then the deadweight loss from monopoly practices is smaller than it otherwise would be
Indicate whether the statement is true or false
Friedman and Phelps concluded that
a. in the long run the Phillips curve is downward sloping, which is consistent with classical theory. b. in the long run the Philips curve is downward sloping, which is inconsistent with classical theory. c. in the long run the Phillips curve is vertical, which is consistent with classical theory. d. in the long run the Phillips curve is vertical, which is inconsistent with classical theory.