Keynes called money people hold to make routine day-to-day purchases the:
A. transactions demand for holding money.
B. precautionary demand for holding money.
C. speculative demand for holding money.
D. store of value demand for holding money.
Answer: A
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Private goods are excludable and nonrival in consumption
a. True b. False
A horizontal merger is one in which the merging firms:
a. are about the same size. b. produce the same good in the same industry. c. will control greater than 50 percent of the market. d. have never directly competed in the past. e. will pay twice as much in taxes.
How does the multiplier work and what might government use it for?
A company draws its total cost curve and total revenue curve on the same graph. If the firm wishes to maximize profits, it will select the output at which the
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