Money can be many things, but it is not:
A. a financial asset.
B. a financial liability.
C. liquid.
D. illiquid.
Answer: D
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Refer to Table 2-14. What is Scotland's opportunity cost of producing one guitar?
A) 0.25 motorcycles B) 4 motorcycles C) 12 motorcycles D) 16 motorcycles
The total amount of reserves in the banking system is equal to the ________ required reserves and excess reserves
A) sum of B) difference between C) product of D) ratio between
For the Fed to fully eliminate the costs of inflation, how low does the inflation rate need to be?
a. 0 percent b. 3 percent c. 5 percent d. 6 percent
A merit good is
A. A good or service that society believes everyone is entitled to a minimal quantity of. B. Income payments for which no goods or services are exchanged. C. A good society holds to a higher standard in tax regulations. D. A product that serves as an incentive to produce more output.