Which of the three functions of money are commonly met by each of the following assets in the U.S. economy?
a. paper dollar
b. precious metals
c. collectibles such as baseball cards, stamps, and antiques
a. medium of exchange, store of value, unit of account
b. store of value
c. store of value
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Leverage refers to
A) the ratio of total assets of a financial institution to total liabilities. B) the ratio of the liabilities of a financial institution to equity capital.. C) the ratio of equity capital of a financial institution to the liabilities. D) the ratio of the debt of a financial institution to liabilities.
Restructuring of the natural gas industry has essentially made it a competitive industry
Indicate whether the statement is true or false
If there is a permanent increase in demand for the product of a perfectly competitive industry, the process of transition to a new long-run equilibrium will include:
a. the entry of new firms. b. Neither the entry of new firms nor temporarily higher profits is correct. c. temporarily higher profits. d. Both the entry of new firms and temporarily higher profits are correct.
The average tax rate can be calculated by which of the following formulas?
A. total taxable income divided by total taxes due B. total taxes due divided by total taxable income C. the change in taxes due divided by the change in taxable income D. the change in taxable income divided by the change in taxes due