Which of the following asset would be considered money?
A. An asset that has value and could at some time be accessed in order to make transactions.
B. An asset that can be bought or sold using a widely-used means of payment.
C. An asset that can be easily converted into a widely-used means of payment with little loss in value.
D. An asset that is infrequently used as a means of payment.
Correct. For this reason, savings accounts and money market mutual funds are usually counted as money.
Ans: C. An asset that can be easily converted into a widely-used means of payment with little loss in value.
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The smaller the extent of job rationing, the
A) higher the labor supply. B) lower the labor force participation rate. C) lower potential GDP. D) higher the real wage rate. E) lower the unemployment rate.
Refer to the scenario above. What is likely to be the impact on Firm A's sales if Firm A decides to sponsor the event while Firm B decides not to sponsor the event?
A) A 5% increase in sales B) A 2% increase in sales C) A 7% increase in sales D) A 0% increase in sales
You would expect the demand for food to be more inelastic than the demand for cookies
Indicate whether the statement is true or false
Which of the following is a positive economic statement?
A) The temperature is too high today. B) The temperature is 105 degrees today. C) It is too hot to jog today. D) I enjoy summer evenings when it cools off.