Patrice owns a travel agency. Her accountant most likely includes which of the following costs on her financial statements?
a. wages Patrice could earn giving tennis lessons
b. dividends Patrice's money was earning in the stock market before Patrice sold her stock and leased the space for her travel agency
c. the cost of utilities for operating the storefront
d. Both b and c are correct.
c
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On a diagram of the consumption function and the 45-degree line, saving at each level of disposable income is the vertical distance
A) from the horizontal axis to the intersection point of the consumption line and the 45-degree line. B) from the horizontal axis to the 45-degree line. C) between the consumption and the 45-degree lines. D) from the horizontal axis to where the consumption line intersects the vertical axis.
Groups of nations that grants members trade privileges are called
A) local trade protectionists. B) trade settlements. C) regional trade blocs. D) allies.
The amount of assets that a bank must hold at all times is determined by the:
a. banks' actual reserves. b. required reserve ratio. c. actual reserve requirement. d. fractional reserve requirement. e. excess reserve requirement.
When product A is a substitute for product B, the cross-price elasticity of demand for products A and B will be _____
a. unity b. negative c. positive d. decreasing e. increasing