Which of the following would not be considered money in the hands of the public?
a. cash hidden under a mattress
b. a bank's vault cash
c. cash in the cash register of a hardware store
d. cash stored in the hardware store's vault
e. cash in your wallet
B
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A firm is more likely to engage in horizontal foreign direct investment if
A) trade costs are high and there are internal economies of scale. B) trade costs are low and there are internal economies of scale. C) trade costs are high and there are external economies of scale. D) trade costs are low and there are external economies of scale. E) trade costs are low and firms experience constant returns to scale in production.
Once the Phillips curve has shifted down, the economy is ________ because ________
A) better off; every unemployment rate becomes associated with a higher inflation rate B) better off; every inflation rate becomes associated with a lower unemployment rate C) worse off; every inflation rate becomes associated with a higher unemployment rate D) worse off; every unemployment rate becomes associated with a lower inflation rate