Rank the following items in terms of most liquid to least liquid.
A) checkable deposits, cash, an office building your father owns
B) cash, credit card, money market mutual funds, checkable deposits
C) cash, checkable deposits, savings deposits, an office building your father owns
D) cash, Microsoft stock certificates you own, checkable deposits
Ans: C) cash, checkable deposits, savings deposits, an office building your father owns
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Which of the following are balance of payments accounts?
i. capital and financial account ii. tariff account iii. current account A) i only B) ii only C) iii only D) i and iii E) ii and iii
Individuals in countries with __________ often spend considerable time trying to secure resources from others
a. free riders b. no criminal law c. poorly defined property rights d. side payments e. Pareto efficiency
Which of the following would be an example of a fixed cost?
A. property insurance premiums B. wages paid to temporary workers C. expenditures on imported raw materials D. the electric and gas bills
The royalty that an author receives on the resale of a used college textbook is
A. zero. B. typically 15%. C. half the typical new sale rate, or 7.5%. D. set at 2%.