The difference between slope and elasticity is that slope measures absolute change and elasticity measures percentage change
a. True
b. False
Indicate whether the statement is true or false
True
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One aspect of bank accounting is that many liabilities of banks are
A. assets of other persons and businesses in the economy. B. also liabilities of other persons and businesses in the economy. C. not matched by liabilities of most other banks. D. not actually owed to any other person or business in the economy.
National income is $600, corporate taxes are $20, Social Security contributions are $60, retained earnings are $10, personal taxes are $100, and transfer payments are $80. Disposable income is
A. $450. B. $490. C. $410. D. $510.
The takeover process dissipates capital, making it an inefficient market mechanism.
Answer the following statement true (T) or false (F)
Credit is:
A) the loan that a debtor receives. B) the income that an employee earns. C) any good that cannot be consumed but is used for the production of other goods. D) any good that is available for free.