The speculative demand for money is the stock of money that people hold to:
a. pay their predictable, everyday expenses.
b. pay for any unexpected expenses that may occur.
c. buy stocks, bonds, and other financial assets.
d. buy the foreign currencies needed to purchase imports.
c
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The figure above shows a perfectly competitive firm. If the market price is $20 per unit, then the firm produces ________ units and makes an economic profit that is ________
A) more than 30; more than $100 B) 30; more than $100 C) 20; less than $400 D) 0; zero E) 30; zero
Refer to the above payoff matrix for the profits (in $ millions) of two firms (X and Y) making a decision to advertise or not. Which of the following is the outcome of the dominant strategy without cooperation?
A) Both firm X and firm Y choose not to advertise. B) Both firm X and firm Y choose to advertise. C) Firm X chooses to advertise while firm Y chooses not to advertise. D) Firm X chooses not to advertise while firm Y chooses to advertise.