The ease with which an asset can be converted into a medium of exchange is known as:
a. volatility.
b. liquidity.
c. currency.
d. speculative exchange.
b
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What effect does a depreciation of the dollar have on real GDP in the United States in the short run?
A) Real GDP will be unaffected by the depreciation of the dollar. B) Real GDP will rise. C) Real GDP will be unchanged, but nominal GDP will rise. D) Real GDP will fall.
The U.S. government's fiscal year extends from: a. January to December
b. April of one year to March of the next year. c. June of one year to May of the next year. d. September of one year to August of the next year. e. October of one year to September of the next year.
The crowding-out effect suggests that
a. restrictive fiscal policy is an effective weapon against inflation. b. expansionary fiscal policy will be a highly effective weapon for fighting a recessionary downturn c. a budget surplus will cause the demand for loanable funds to decline, interest rates to rise, and aggregate demand to decrease. d. budget deficits that lead to higher interest rates reduce private investment spending.
Which of the following productive resources is considered 'fundamentally different' from other resources with respect to supply and diminishing returns?
A. technology. B. land. C. labor. D. physical capital.