Loans given to the borrowers are considered liabilities for a commercial bank
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose you could measure the value in monetary terms for the following three things that you could do with your time this Friday evening: a) doing your homework - $50, 2) spending time with your friends - $40 or c) taking a nap - $30
Armed with only this information which activity has the lowest opportunity cost? Which two activities have the same opportunity cost? Based on what you have discovered what is the best use of your time and why?
The Scarcity Principle states that:
A. society will eventually run out of resources. B. with limited resources, having more of one thing means having less of another. C. people don't have enough money to buy what they want. D. some countries have fewer resources than others.
What is the opportunity cost of leisure?
a. the relaxation a person gets b. the income given up by not working c. the vacation time taken d. the chance to socialize with friends and family
Why do barriers to entry create market power?
What will be an ideal response?