1. What is liquidity? Rank the following assets in order of their liquidity: $10 bill, personal check for $20, savings account with $400 in it, stereo, car, house, travelers' check.
2. Use the following table on the components of money in a hypothetical economy to do exercises 9-10
![391_5a2eb789-d6be-460d-a15b-0954aec42721.png](https://secure.tutorsglobe.com/CMSImages/391_5a2eb789-d6be-460d-a15b-0954aec42721.png)