Steve uses $300 from his paycheck to pay off his credit card balance. Based on this information:
A. Steve's saving has increased by $300.
B. Steve's wealth is unchanged.
C. Steve has a capital loss of $300.
D. Steve's saving has decreased by $300.
Answer: A
You might also like to view...
If the government were to remove rent controls from the New York City rental market, then
A) all would be harmony. B) the price paid by buyers would decrease and the quantity of rental units will decrease. C) the price received by sellers would increase and the quantity of rental units will increase. D) the price received by sellers would decrease and the quantity of rental units will decrease.
How do you think the theory of contestable markets has been used as a means of arguing for weaker enforcement of antitrust laws? Explain
What will be an ideal response?
Which of the following groups agree that government intervention in the economy is counterproductive even in the short run?
a. Keynesians and supply-siders b. Keynesians and neo-Keynesians c. Keynesians and rational expectations economists d. neo-Keynesians and rational expectations economists e. Rational expectations economists
Which statement is true?
A. All monopolies are large firms. B. The monopolist produces a product similar to its competitors. C. There is no such thing as a natural monopoly. D. There are no close substitutes for a monopolist's product.