An asset's liquidity depends upon
A) the absolute size of its value and how long it takes to sell the asset at market value.
B) how long it takes to sell the asset at market value and the costs of selling the asset.
C) the costs of selling the asset and the fraction of its value that can be obtained if it is sold immediately.
D) the fraction of its value that can be obtained if it is sold immediately and the absolute size of its value.
B
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The opportunity cost of holding currency decreases when
A) income decreases. B) the interest rate on bonds decreases. C) the interest rate on money decreases. D) wealth decreases.
Comparative advantage is determined by the
a. elasticities of demand for a good in two countries b. opportunity costs of producing a good in two different countries c. presence of absolute advantages in production d. degrees of allocative efficiency within each economy e. amounts of resources required to produce a good in different countries
Suppose the table below describes the demand for a good produced by monopolist.PriceQuantity$101$92$83$74$65$56$47The total revenue from selling 6 units is ________, and the marginal revenue of selling the 6th unit is ________.
A. $5; 5 B. $24; $5 C. $30; 0 D. $30; $1
If a 1 percent decrease in the price of product A brings about a 3 percent increase in the sales of product B, then:
A. products A and B are complementary. B. the cross elasticity of demand between these two products is positive. C. products A and B are substitutes. D. the demand for these products is inelastic.