A 5% increase in real income usually leads to ________ in money demand

The overall mortality rate in the United States has declined for the past 30 years

Indicate whether the statement is true or false

If high-level executives of a company award themselves sizable bonuses even though the firm they manage is making losses and performing poorly, this event is most likely to arise because of

a. the law of diminishing marginal returns. b. competition among business firms for high-level executives. c. economies of scale. d. the principal-agent problem.