Asset demand for money is holding money
A. to speculate on the stock market and bonds.
B. to meet unplanned expenditures and emergencies.
C. as a store of value instead of other assets.
D. as a medium of exchange to make payments.
Answer: C
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One difference between stocks and bonds is that
A) stocks do not involve a promise to repay a purchaser of the stock, while bonds represent a promise to repay the purchase price of the bond. B) stocks represent ownership in companies, while bonds represent ownership in banks. C) stocks are financial securities, while bonds are labor market securities. D) stocks are usually issued in electronic form, while bonds are usually issued in paper form.
In the Soviet Union, most goods and services were produced by __________________.
Fill in the blank(s) with the appropriate word(s).
As a consumer moves along a budget constraint:
A. income is held constant, but prices change. B. prices and income are held constant, but quantities change. C. prices are held constant, but income changes. D. total utility is held constant, but prices and income change.
The "elasticity argument" criticizing traditional economic analyses of the minimum wage implies that
A. the short-run marginal productivity of workers is independent of the number of workers employed. B. any increase in employment greatly reduces the marginal productivity of employed workers. C. any increase in employment greatly increases the marginal productivity of employed workers. D. patriotic employers should want to pay their American employees more than their foreign employees.