Which of the following assets is most liquid?
a. short-term government bonds
b. savings accounts
c. checking accounts
d. currency and coins
d
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Which of the following would be considered an implicit cost of operating a business?
A) interest payments on a loan B) Social Security contributions for employees C) the resale value of delivery vans the company owns and uses for its deliveries D) shipping expenses
If the inflation rate in an economy is higher than expected, which of the following groups in the society would be most likely to gain?
a. Borrowers b. Lenders c. Persons holding large amounts of money d. Persons on fixed incomes e. Workers under contract without a cost of living adjustment
The production possibilities curves illustrated in Figure 35.2 reveal that
A. Mexico has no comparative advantage. B. Mexico has a comparative advantage in baseballs. C. The United States has an absolute advantage in both goods. D. The United States has no comparative advantage.
Consider the following simple regression model: y = 
0 + 1x1 + u. Suppose z is an instrument for x. Which of the following conditions denotes instrument exogeneity?
A. Cov(z,u) > 0 B. Cov(z,x) > 0 C. Cov(z,u) = 0 D. Cov(z,x) = 0