What are specific assets?
Those assets which create more economic value when used in the production of a particular product or service but turn out to be less useful for producing other products or services are called specific assets, i.e. they cannot be "redeployed" without incurring costs.
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The legal transfer of chattels supports economic growth
Indicate whether the statement is true or false
The net worth of a bank is
A. equal to the value of assets. B. equal to the value of deposits. C. equal to the value of liabilities. D. the value of assets less liabilities. E. the value of loans and securities.
In the Keynesian model, an increase in real autonomous spending results in a greater increase in real Gross Domestic Product (GDP) if
A) the marginal propensity to consume (MPC) is lower.
B) the marginal propensity to consume (MPC) is higher.
C) the average propensity to save (APS) is higher.
D) the average propensity to save (APS) is lower.
According to the life-cycle theory of consumption, people tend to dissave during their retirement years.
Answer the following statement true (T) or false (F)