A bank that is liquid:
A. has assets that can be readily converted into cash and money.
B. is diversified in its holdings of financial assets.
C. can sell short-term bonds to buy long-term bonds.
D. has sufficient assets to cover its long-term liabilities.
Answer: A
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Classical economists tend to
A) support Say's law. B) see unemployment as a persistent economic problem. C) reject the equality of savings and investment. D) believe in Keynesian economics.
iTunes offers samples of music downloads, and in doing so they
A) further inform customers. B) further reduce customer search costs. C) further expand the range of opportunities available to customers. D) do all of the above.
Consumption spending includes
a. durable goods, nondurable goods, and housing b. durable goods, nondurable goods, and imports c. durable goods, services, and housing d. durable goods, nondurable goods, and services e. nondurable goods, services, and housing
Average revenue is another way of describing
a. price b. output c. total revenue d. profit e. marginal cost