According to the Cambridge approach to the quantity theory, people hold money:
a. to store their wealth.
b. to make transactions.
c. as a substitute for consumption.
d. only when they have to.
B
Economics
You might also like to view...
Positive statements are
a. prescriptive. b. claims about how the world should be. c. claims about how the world is. d. made by economists speaking as policy advisers.
Economics
In the inverted-U theory of R&D, which of the following industry concentration ratios would be most conducive to R&D (as a percentage of firm sales)?
A. 1 percent. B. 10 percent. C. 50 percent. D. 70 percent.
Economics