By the 2000s, an important market change occurred when investment banks became significant participants in the secondary market for

Suppose that a lawn mowing services production function for lawns mowed in a week is M = (LK)1/2, where L is labor hours and K is the amount of capital (mowers and trimmers). The expansion path depends on

a. the wage rate only. b. the rental rate only. c. both the wage and rental rates. d. neither the wage nor rental rates.

The transactions demand for money is least likely to be a function of the

A. price level. B. frequency of wage and salary payments. C. interest rate. D. level of national income.