If output exceeds its full-employment level, the wage rate will eventually fall, causing a drop in the price level and a drop in real GDP until full employment is restored

Liquidity of an asset refers to:

a. its level of risk. b. whether it is held domestically or overseas. c. the ease with which it can be sold. d. its volatility.

In a market capitalist economy:

A) markets are not competitive. B) individual ownership and decision making are relied upon. C) consumers have few choices. D) the government owns the factors of production.