Tobin's model of the speculative demand for money shows that people hold money as a ________ as a way of reducing ________
A) medium of exchange; transaction costs
B) medium of exchange; risk
C) store of wealth; transaction costs
D) store of wealth; risk
D
Economics
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The unemployment rate in the U.S. is equal to ________
A) the number of individuals unemployed in the U.S. divided by the U.S. population B) the number of individuals unemployed divided by the U.S. labor force C) the size of the U.S. population divided by the number of individuals unemployed D) the size of the U.S. labor force divided by the number of individuals unemployed
Economics
In the long run, profits will equal zero in a competitive market because of
A) constant returns to scale. B) identical products being produced by all firms. C) the availability of information. D) free entry and exit.
Economics