Liquidity refers to
A. the net worth of the individual in question.
B. the amount of indebtedness held against an asset.
C. the expected return from an asset.
D. the ease with which an asset can be acquired or disposed of without incurring high transaction costs.
Answer: D
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When the interest rate is ________, ________ investments in physical capital will earn more than the cost of borrowed funds, so planned investment spending is ________
A) high; few; high B) high; few; low C) low; few; high D) low; many; low E) high; many; high
An implication of the median voter theorem is that
a. minority views and majority views are given equal weight. b. platforms of the major political parties will not differ greatly. c. the logic of democracy is fundamentally flawed. d. behavioral economics plays a significant role in voting outcomes.
Which of the following shows an accurate difference between (A) perfect competition and (B) monopolistic competition?
a. (A) Price is more than ATC; (B) Price is equal to ATC. b. (A) Firms are productively inefficient; (B) Firm are productively efficient. c. (A) Price equals marginal cost; (B) Price is more than marginal cost. d. (A) Firms are allocatively inefficient; (B) Firms are allocatively efficient.
Suppose you observe that the sun sets every evening after the six o'clock business report. If you conclude that the six o'clock business report makes the sun set, you are guilty of the fallacy of:
A) division. B) composition. C) false cause. D) science.