Explain why the following statement is true, "money is an asset but not all assets are money."
What will be an ideal response?
Money is an asset because it represents something of value to the owner. But not all assets can be used as an immediate means of payment.
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
Intraindustry trade refers to
A) international trade of products made within the same industry. B) international trade of products made across different industries. C) trade that occurs as a result of comparative advantage. D) the exchange of non-similar items. E) trade that occurs mostly within developing countries.
At a level of output equal to the economy's potential, the simple spending multiplier in the long run equals one
a. True b. False Indicate whether the statement is true or false
What are the three phases of antitrust policy in the United States, since 1890?
a. 1890 to 1914, the rule of reason; 1914 to the early 1980s, per se; since then, the rule of reason b. 1890 to 1914, per se; 1914 to the early 1980s, the rule of reason; since then, per se c. 1890 to 1914, the rule of reason; 1914 to the early 1980s, per se; since then, no antitrust policy d. 1890 to 1914, the rule of reason; 1914 to the early 1980s, per se; since then, a period of rate of return regulation e. 1890 to 1914, the rule of reason; 1914 to the early 1980s, per se; since then, a period of nationalization