The speculative demand for money is associated with ___________ and, graphed with interest rate on the vertical axis and money on the horizontal, is ___________
a. classical economics; upward sloping
b. classical economics; downward sloping
c. monetarists; downward sloping
d. Keynesian economics; downward sloping
e. Keynesian economics; upward sloping
D
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In an environment characterized by perfect competition, we expect that ________
A) there are very few firms in the economy B) there are many firms in the economy but a very few have the lion's share of the industry C) the are many small firms in the economy and every single firm is a price taker D) the government sets prices for all firms E) none of the above
Cost plus pricing is
A) consistent with profit maximization. B) generally inconsistent with profit maximization. C) the same as peak-load pricing. D) used in product line extensions.
Lars almost always use SpeedyStop gas station because it is close to his home. What type of product differentiation is he being influenced by?
a. physical differences b. prestige c. location d. service
When insurance companies offer fair insurance,
A) risk-averse agents always purchase it. B) risk-neutral agents never purchase it. C) risk-loving agents always purchase it. D) nobody would purchase fair insurance.