Which of the following assets is the most liquid?
a. Money.
b. Gold.
c. Land.
d. Stocks.
a
You might also like to view...
Suppose the economy goes from a point on its production possibilities frontier (PPF) to a point directly to the left of it. Assuming that the PPF has not shifted, this could be due to
What will be an ideal response?
Suppose the supply curve and the demand curve both have unitary elasticity at all prices. The price increase to consumers resulting from a specific tax of $1 imposed on sellers will be
A) $1. B) 50 cents. C) zero. D) Impossible to calculate without knowing the slope of the supply curve.
Suppose you read in the French daily Le Monde that saving in France in 2003 was greater than the intended investment French businesses had hoped to make. You would conclude that in 2003 the French economy was
a. in equilibrium, and no change occurred in its national income b. not in equilibrium, and its national income rose c. not in equilibrium, and its national income fell d. in equilibrium, and its national income rose e. in equilibrium, and its national income fell
Economies of scale occur when
A) a firm's long-run average total costs fall as it increases the quantity of output it produces. B) the marginal product of labor is greater than the average product of labor. C) short-run marginal cost falls. D) the demand for a firm's output increases.