Keynes called the money people hold in order to buy bonds, stocks, or other nonmoney financial assets the:
a. transactions demand for holding money.
b. precautionary demand for holding money.
c. speculative demand for holding money.
d. unit of account demand for holding money.
c
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Suppose the marginal product of labor equals 1/L. If the firm can sell its output for $10 per unit, and the wage is $1 per unit, how many units of labor will the firm hire?
A) 0 B) 1 C) 10 D) 100
If the elasticity of supply is much greater than the elasticity of demand, an excise tax levied on the suppliers will
a. cause the suppliers to incur a greater burden of the tax than demanders b. cause the demanders to incur a greater burden of the tax than suppliers c. the burden of the tax will be shared equally between the suppliers and the demanders d. cause the entire burden of the tax to rest on the demanders e. Without more information as to the amount of the excise tax, who will incur a greater burden will be unclear
If Sara Thomas' disposable income increases from $4,000 to $4,500 and her level of saving increases from $200 to $300, it may be concluded that her marginal propensity to:
a. Consume is .75 b. Save is .30 c. Consume is .60 d. Consume is .80
Which of the following will cause a decrease in the standard of living for an individual?
A. a decrease in socioeconomic status B. an increase in wealth C. an increase in income D. a decrease in disease