People hold money as opposed to financial assets because money
A) earns interest. B) earns no interest.
C) is perfectly liquid. D) earns a higher return than other financial assets.
C
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The United States' comparative advantage over Japan in the production of rock-n-roll music implies that (for a similar quality of music) the
A) opportunity cost of production is less in Japan. B) absolute cost of production is less in the United States. C) absolute cost of production is less in Japan. D) opportunity cost of production is less in the United States. E) None of the above.
A cartel is
a. a group of firms promoting competition. b. most common in monopolistic competition. c. a collusive group of firms. d. no longer possible in our global economy.
If the demand for pizza increases, then as a result, it is highly likely that the demand for:
A. soda will increase. B. mozzarella cheese will increase. C. chicken nuggets will fall. D. All of these are a likely result.
Economists and policy makers are committed to encouraging a high and growing level of real GDP because:
A. This implies a lower price level B. This means a higher level of unemployment C. This implies an increase in investment D. This means greater consumption opportunities