Which of the following assets is the most liquid in the United States?
A. U.S. currency
B. U.S. Treasury bonds
C. Alphabet stock shares
D. an antique car
Answer: A
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Antitrust cases that are brought to the courts by the Justice Department typically rely on perfect competition as a benchmark for lawyers to determine whether a firm is competitive or monopolistic
Why is this a troublesome criterion to use in prosecuting such cases?
If Americans' home equity falls substantially, it would ____ wealth and consumer confidence, ____ consumption, and ____ aggregate demand
a. increase, decrease, increase b. decrease, decrease, decrease c. increase, increase, increase d. increase, increase, decrease
A Phillips curve illustrates a tradeoff between the __________________ rate and the inflation rate.
a. unemployment b. tax c. growth d. import
It has been said that "economics is the science of common sense." Is economics synonymous with common sense?