Anything of value owned by a person or a firm is
A) an asset.
B) a liability.
C) wealth.
D) owner's yield.
Answer: A
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In the Keynesian model, investment, government spending, and net exports are treated as autonomous expenditures, which means they are independent of:
A. expectations. B. the price level. C. political processes. D. real GDP.
The willingness of consumers to buy a product at different prices is shown on a
A) demand curve. B) production possibilities frontier. C) supply curve. D) marginal cost curve.
An increase in supply will cause a(n)
a. increase in demand b. decrease in demand c. increase in quantity demanded d. decrease in equilibrium quantity demanded e. increase in equilibrium price
An increase in income taxes was part of President George W. Bush's plan in 2001 and 2008 to increase aggregate demand
a. True b. False Indicate whether the statement is true or false