The large quantity of currency held per person in the United States reflects
A) The high level of GDP per person in the United States.
B) The income-expenditure identity.
C) The importance of the underground economy.
D) The distrust of banks in the United States.
C
You might also like to view...
Evidence indicates that the average economic profits of invention are
A. well above zero. B. slightly above zero. C. equal to zero. D. less than zero.
A study of mass transit systems in American cities revealed that long-run revenues generally decline after substantial fare increases. This suggests that:
A. mass transit service deteriorates in the long run as price rises. B. the demand for mass transit is price-elastic in the long run. C. there are few good substitutes for such systems in urban areas. D. the demand for mass transit is price-inelastic in the long run.