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If the price of milk rises,when is the price elasticity of demand likely to be the lowest?
Grace Period
A set period of time after the due date during which payment can be made without penalty.
M2
A money aggregate consisting of M1 plus savings deposits, small-denomination time deposits, money market mutual funds, and other miscellaneous near-monies.
Near-Monies
Assets that are easily convertible into cash but are not cash themselves, such as savings accounts and time deposits.
Time Deposits
Deposits that earn a fixed interest rate if held for the specified period, which can range from several months to several years; also called certificates of deposit.
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