Which of the following statements is true?
a. The speculative demand for money at possible interest rates gives the demand for money curve its upward slope.
b. There is an inverse relationship between the quantity of money demanded and the interest rate.
c. According to the quantity theory of money, any change in the money supply will have no effect on the price level.
d. All of these.
b
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In order for a labor supply curve to be backward bending at high wages
A) workers must have an irrational response to wage increases. B) leisure must be an inferior good. C) the substitution effect of a wage increase must be greater than the income effect. D) the income effect of a wage increase must be greater than the substitution effect.
A unique feature of oligopoly among market models is the presence of differentiated products
a. True b. False Indicate whether the statement is true or false