It is difficult for competent authorities to agree on the best definition of the money stock because money is composed primarily of the liquid liabilities of financial institutions
A) and liquidity implies the absence of certainty.
B) of which there are many different kinds whose relative liquidity is continually changing.
C) on which we simply have no reliable data.
D) whose solvency is highly questionable.
B
You might also like to view...
In many developing countries, starting a business involves navigating a labyrinth of rules and regulations and red tape. Paying a bribe to expedite paperwork is a common practice
As Samuel Huntington puts it—"the only thing worse than a society with a rigid, overcentralized, dishonest bureaucracy is one with a rigid, overcentralized, honest bureaucracy." The argument is that bribes increase economic activity because, without bribes to grease bureaucrats' palms, starting a business would be an extremely long, drawn-out process and would probably drive investors away. Is this always the case, or does bureaucratic corruption involve other costs? Explain your answer.
All of the following were important structural changes in American capitalism during the period 1960–95 except
(a) New technology in the form of automated (machine-guided) production processes (b) A capital-labor accord which allowed workers to share in productivity gains through wage increases, particularly during the 1950s and 1960s (c) An increase in self-sufficiency as the nation reduced its economic interdependence with other nations (d) A large and central role for government in directing the post-war economy