What is the most common reason people demand money?
A) Each bill and coin is a reflection of important people and events in a nation's history.
B) Since very few of us engage in a flow of transactions, money is our financial safety net.
C) People desire to use money as a medium of exchange when they buy goods and services.
D) They demand money to ensure that the nation's government will not spend too much.
C
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Which of the following is a positive economic statement?
A) U.S. citizens should only buy products which are produced in the United States. B) The government should ban the production and sale of incandescent light bulbs. C) Raising the tax on gasoline raises the selling price of gasoline. D) The government should revamp its immigration policies.
The second-order condition for a monopoly maximizing its profit is:
A. (dMR/dQ) < (dMC/dQ). B. (d2R(Q)/dQ2) ? (d2C(Q)/dQ2) < 0. C. (d2R(Q)/dQ2) ? (d2C(Q)/dQ2) < 0 or (dMR/dQ) < (dMC/dQ). D. (d2R(Q)/dQ2) ? (d2C(Q)/dQ2) = 0.