A relatively steep money demand schedule reflects the assumption that the interest elasticity of money demand is
a. low (in absolute value).
b. high (in absolute value).
c. zero.
d. indefinite.
A
You might also like to view...
If addiction makes cigarettes such a necessity, is it correct to think that cigarettes are perfectly inelastic in both supply and demand
What will be an ideal response?
Suppose a sole proprietorship is earning total revenues of $100,000 and is incurring explicit costs of $75,000. If the owner could work for another company for $30,000 a year, we would conclude that:
A) the firm is incurring an economic loss. B) implicit costs are $25,000. C) the total economic costs are $100,000. D) the individual is earning an economic profit of $25,000.
Building a good reputation in the marketplace:
A. is easy to fake. B. can take a long time to establish. C. is not a significant value to a seller. D. All of these statements are true.
People leave their home country and go to another country to live primarily because they seek a higher quality of life
a. True b. False Indicate whether the statement is true or false