Identify the correct definition of liquidity
a. The availability of credit in the form of money is known as liquidity.
b. The ability of money to be a store of value is known as liquidity.
c. The difference between real and nominal money values is known as liquidity.
d. The ability of an asset to be easily converted into money is known as liquidity.
e. The ability of an asset to be universally accepted as a means of exchange is known as liquidity.
d
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One of the consequences of a rent ceiling set below the equilibrium rent is
A) decreased search activity. B) increased search activity. C) the establishment of landlord unions. D) surpluses of apartments. E) the elimination of the deadweight loss that would otherwise exist in the housing market.
In monopolistic competition, the products of different sellers are
A) identical. B) similar but slightly different. C) unique without any close or perfect substitutes. D) perfect substitutes. E) either identical or differentiated.