What is property income?
What will be an ideal response?
Property income is income from ownership of real property and financial holdings. It takes the form of profits, interest, dividends, and rents.
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Refer to the payoff matrix below. If Best Lights and Bright Lights both set a High Price, the profit for Best Lights are ________ and the profit for Bright Lights are ________ than if both firms set a Low Price.
A) higher; lower
B) lower; higher
C) higher; higher
D) lower; lower
Which of the following is a liability of a bank and an asset of its customers?
a. deposits of its customers and loans to its customers b. deposits of its customers but not loans to its customers c. loans of its customers but not the deposits of its customers d. neither the deposits of its customers nor the loans to its customers
How does simultaneous consumption affect economies of scale?
What will be an ideal response?
Taxes that distort economic decisions impose excess burdens.
Answer the following statement true (T) or false (F)