Which of the following is the proper order of assets ranked from most to least liquid?
a. Demand deposits, cash in the hands of the public, large time deposits
b. Travelers' checks, small time deposits, savings-type accounts
c. Small time deposits, large time deposits, demand deposits
d. Cash in the hands of the public, savings-type accounts, demand deposits
e. Cash in the hands of the public, money market mutual funds, small time deposits
E
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If a consumer is consuming a combination of goods and services on his budget line, has the consumer allocated his or her entire budget?
What will be an ideal response?
Government actions that create monopolies
A) spur product innovation by the monopoly. B) create deadweight loss. C) result in lower average costs of production. D) ensure that firms price at marginal cost.
When one firm lowers its price, its gain in sales at the expense of other firms is known as
a. administered sales. b. the substitution effect. c. the collusive effect. d. product differentiation.
Define market equilibrium. How is the equilibrium price determined?