What is the difference between a firm's assets and its liabilities?
What will be an ideal response?
An asset is anything of value that a firm owns. A liability is a debt or obligation owed by a firm.
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The inflationary gap is the
a. inflation rate that will occur from excess aggregate demand. b. budget deficit that caused the inflation to occur. c. distance between the equilibrium level of output and the full employment level of output. d. gap between expected and actual inflation.
Inequality within countries has been ________, and inequality between countries has been ________ in recent decades.
A. increasing; decreasing B. increasing; increasing C. decreasing; decreasing D. decreasing; increasing
In the market for labor, the demand function describes
A. the output of workers who are paid a given wage. B. the demand for the firm's output. C. the number of workers who are willing to work at each wage. D. the number of workers a firm is willing to hire at each wage.
With dollarization adopted by a country, the "seigniorage profit" from issuing currency in the country goes to a foreign government.
Answer the following statement true (T) or false (F)