A goldsmith has 100 gold coins in his safe and 100 receipts circulating. How much are his outstanding loans?
What will be an ideal response?
zero
You might also like to view...
The "tech bubble" burst of 2000, the terrorist attacks of 2001 and the corporate scandals of 2001 and 2002 all had similar qualitative effects on the economy
Which of the following is an appropriate description of the mechanism that would have ensued? A) Household and business spending would have been eroded shifting the AD curve to the left. B) Unemployment would have risen and inflation would have fallen. C) Output would have declined below potential but through shifts in the AS curve, the self-correcting mechanism of the AD-AS framework would have brought the unemployment rate down to the lower levels we saw by 2004. D) all of the above E) none of the above
Refer to the table below. If this market is a Cournot Oligopoly and Firm X is produces 50 units, what is Firm Y's marginal revenue at a price of $70?
The table above shows the market demand for a product that both Firm X and Firm Y manufacture. Both firms produce an identical product and the firms' average total and marginal cost are equal and constant.
A) $80 B) $40 C) $60 D) $50
Credit cards create:
A. financial liabilities for the issuer once they are used by the holder. B. money for those who use them. C. financial liabilities for those who use them. D. money for those who issue them.
The market maximizes total surplus under what conditions?
What will be an ideal response?