Which of the following is the most liquid asset?
a. Traveler's checks.
b. Savings-type deposits.
c. Small time deposits.
d. Large time deposits.
e. A modern art painting.
A
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Technological innovations and the increasing mechanization of industry:
a. have led to long-run aggregate unemployment that is difficult to eradicate. b. have led to lower wages for skilled workers. c. mean higher prices for consumers. d. ultimately create new jobs that replace old jobs.
The relatively low rate of inflation coupled with a low unemployment rate that occurred in the 1990s represented a "normal" economic situation
a. True b. False Indicate whether the statement is true or false
Suppose potatoes were produced in Canada by many, many firms in perfect competition. In Belgium, only one firm produces potatoes for the Belgium market. Suppose as well that for the competitive firms and the monopoly, minimum ATC is the same. We would expect then, that in Belgium the price of potatoes is _____________ and ____________ potatoes are produced and sold than in Canada
a. higher; more b. lower; more c. higher; fewer d. lower; fewer e. the same; fewer
With which of the Ten Principles of Economics is the study of international trade most closely connected?
a. People face tradeoffs. b. Trade can make everyone better off. c. Governments can sometimes improve market outcomes. d. Prices rise when the government prints too much money.