The transaction demand for money varies
A) directly with the interest rate. B) directly with nominal GDP.
C) inversely with nominal GDP only. D) inversely with nominal GDP and real GDP.
B
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Temporary tax cuts will have a greater influence on consumption expenditures than temporary tax cuts
Indicate whether the statement is true or false
If a firm in a perfectly competitive industry is experiencing higher than normal returns, in the long-run
a. Some firms will leave the industry and price will rise b. Some firms will enter the industry and price will rise c. Some firms will leave the industry and price will fall d. Some firms will enter the industry and price will fall
If a firm can charge different prices for each consumer it can practice
A) second degree price discrimination. B) perfect price discrimination. C) third degree price discrimination. D) consumer surplus reversal
A firm in a monopolistically competitive market can earn short-run profits but not long-run profits
a. True b. False Indicate whether the statement is true or false