Since it does not have to be converted into anything else to make purchases, ________ is the most liquid asset
A) money
B) stock
C) artwork
D) gold
A
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The more bowed (skewed) the Lorenz curve
A) the more equal the distribution of income. B) the greater the number of households in the society. C) the more unequal the distribution of money income. D) the greater the total income of the society.
Consider a perfectly competitive firm that produces computers. Each additional worker at this firm can produce four computers. Calculate the marginal factor cost if the computers are sold for $1,000 each, and the firm is maximizing profit. (Assume that marginal revenue product is the product of marginal product of the input and the marginal revenue of the firm.)
a. $4,000 b. $500 c. $1,000 d. $1,500 e. $400
The Nobel Prize-winning economist from Harvard who developed the capabilities approach is:
A. Amartya Sen. B. Milton Friedman. C. John Kenneth Galbraith. D. Gary Becker.
How will an increase in price tend to affect demand?
a. Demand will increase. b. Demand will decrease. c. Demand will not change. d. Uncertain.