Typically, the major cost of a college education is
A) tuition.
B) books.
C) foregone income.
D) housing.
C
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An asset is liquid if
A) it earns interest. B) it is backed by a government guarantee. C) it can be exchanged for other items of value without high transaction costs. D) All of the above are correct.
According to the Keynesian model, an increase in autonomous investment leads to
A) a more than proportional decrease in real Gross Domestic Product (GDP). B) a less than proportional decrease in real Gross Domestic Product (GDP). C) a proportional increase in real Gross Domestic Product (GDP). D) a reduction in taxes, autonomous government spending, and a fall in real Gross Domestic Product (GDP).
The most liquid asset(s) of all is (are)
a. cash in the hands of the public b. cash in the hands of banks c. demand deposits held by households and businesses at commercial banks d. travelers' checks e. credit cards
If the benefits from trade are larger than the costs of trade, _____
a. a tariff should be imposed on the traded good b. trade should be allowed c. the domestic price of the traded good should be regulated d. the domestic consumption of the traded good should be taxed