liquidity
What will be an ideal response?
ease with which an asset can be converted into means of payment with little loss of value
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Standard life-cycle analysis predicts that a stock market crash that suddenly reduces the sale value of stocks ________ consumption expenditures
A) reduces B) increases C) has no effect on D) All of the above are possible with a market crash.
If income elasticity is positive, a product is inferior
Indicate whether the statement is true or false
Which of the following conditions is true for a nation operating at a point lying inside its production possibilities curve?
a. The nation is experiencing a technological breakthrough in one of its key industries. b. The nation is clearly utilizing its resources efficiently. c. The nation is producing the maximum output that can be produced with a limited quantity of resources. d. The nation is not utilizing its resources efficiently. e. The nation is producing the maximum output that can be produced with its unlimited quantity of resources.
When the Soviet Union began breaking up in the late 1980s, cigarettes began replacing the ruble as the medium of exchange even though the ruble was legal tender. The cigarettes provide an example of commodity money
a. True b. False Indicate whether the statement is true or false