All types of unemployment are harmful to the economy

A liquid asset is

A) an asset that can easily and quickly be sold to raise cash. B) a share of an ocean resort. C) difficult to resell. D) always sold in an over-the-counter market.

A downturn in the economy occurs when real GDP

a. declines, inflation moderates, and full employment exists b. declines, inflation occurs, and unemployment emerges c. declines, inflation moderates, and unemployment emerges d. is sustained at a relatively high level, but inflation moderates, and unemployment emerges e. is sustained at a relatively high level with full employment, but inflation moderates