Arthur Laffer's macroeconomic theory and political philosophy are linked. He is a
A. monetarist and a conservative.
B. supply-sider and a conservative.
C. new classical macroeconomist and a liberal.
D. Keynesian and a liberal.
B. supply-sider and a conservative.
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The stockholder-manager conflict in a large publicly held firm is manifested in all of the following ways except
A) the managers implement very low-risk strategies that have very low returns. B) the managers implement strategies that maximize the value of the firm. C) managers pursue strategies that maximize firm size rather than the value of the firm. D) the managers attempt to maximize their salaries.
The speculative demand for money is the stock of money that people hold to:
a. pay their predictable, everyday expenses. b. pay for any unexpected expenses that may occur. c. buy stocks, bonds, and other financial assets. d. buy the foreign currencies needed to purchase imports.