Input demand functions that are calculated from profit functions differ from those calculated from cost functions because:
a. they assume cost-minimization.
b. they hold output constant.
c. they assume output price is constant.
d. they assume output is set at its profit-maximizing level.
d
Economics
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The transactions approach to measuring money relies on the role of money primarily as a
A) temporary store of value. B) standard of deferred payment. C) unit of account. D) medium of exchange.
Economics
Ricardian equivalence implies
A) that when the government borrows more, the market real interest rate goes up. B) that if the government saves less, then the nation saves less. C) that when taxes are cut people consume more. D) that consumers will save their tax cuts to pay their future taxes.
Economics