Liquidity refers to how:
A. easy an asset is to convert immediately to cash without losing value.
B. quickly the same dollar changes hands in the economy.
C. quickly the average household spends its disposable income.
D. easy money converts to assets in an economy.
A. easy an asset is to convert immediately to cash without losing value.
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Which of the following is not a condition required for the first welfare theorem to hold:
A. No government policy interferes with the formation of prices. B. No market actor has market power. C. Tastes are quasilinear. D. Income is distributed fairly before markets open. E. (a) and (c) F. (b) and (c) G. (c) and (d) H. (b) and (d)
If marginal utility is a positive number,
A. the more you purchase, the more total utility you get. B. the more you purchase, the less total utility you get. C. utility is not affected by more purchases. D. then you are as well off as possible.
The horizontal axis on a time-series graph
A) measures the variable being graphed. B) measures units of time such as years. C) runs parallel to the y-axis. D) measures how the variable being graphed changes.
Approximately __________ of the impact of monetary policy on GDP after one year stems from the effective of changes in wealth on consumer spending
A) 10 percent B) 25 percent C) 50 percent D) 75 percent