The precautionary motive for holding money reflects the behavior of people who hold money
a. instead of near money
b. to transact purchases they expect to make
c. as insurance against unexpected needs
d. to speculate in the stock market
e. to take advantage of anticipated or hoped for changes in interest rates
C
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During the winter, theme parks in Orlando close earlier than in the summer. The reason the theme parks close early during the winter is because during that season the marginal revenue from staying open later is ________ the marginal cost
A) greater than B) less than C) equal to D) zero compared to E) not comparable to
If the demand for foodstuffs is inelastic, which of the following positions would be most beneficial to Farmer Jones?
A) Bad weather for Jones and good weather for all other farmers. B) Bad weather for all farmers except Jones (who witnesses good weather). C) Bad weather for all farmers. D) Good weather for all farmers. E) There is not enough information to answer the question.
According to the Texas Transportation Institute, the typical U.S. commuter wastes approximately how much time per year due to traffic congestion?
A. 47 hours B. 22 hours C. 42 hours D. 96 hours
Suppose that productivity-enhancing technological progress affected more the production of chairs than the production of tables. This can be depicted using a production possibilities frontier in which
A) only the chair axis intercept increases. B) only the table axis intercept decreases. C) both intercepts increase; however, the chair intercept increases by more. D) both intercepts increase; however, the chair intercept increases by less.