An asset is liquid if it
A. is of intrinsic value.
B. can be exchanged for other goods and services.
C. can be obtained or disposed of without losing much of its nominal value.
D. is a store of value.
Answer: C
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Human capital is defined as
a. the skills and knowledge possessed by workers b. the tools used by labor c. equipment and machinery used to train workers d. buildings purchased by households rather than by businesses e. equipment and machinery used to aid household production and increase available leisure time
If a bank has $100,000 in demand deposits, reserves of $20,000 . and no excess reserves, then the legal reserve requirement is
a. 10 percent b. 20 percent c. 25 percent d. 30 percent e. 50 percent
The demand curve in a purely competitive industry is ______, while the demand curve to a single firm in that industry is ______
A. perfectly inelastic; perfectly elastic B. downsloping; perfectly elastic C. downsloping; perfectly inelastic D. perfectly elastic; downsloping
Unilateral transfers are
A. transactions that take place across geographic boundaries but in which both participants are citizens of the same country. B. gifts from residents of one country to foreign residents. C. government transactions that involve reserves. D. transactions that take place within the geographic boundaries of a country.