A bank will consider a car loan to a customer ________ and a customer's checking account to be ________
A) a liability; a liability
B) an asset; net worth
C) a liability; an asset
D) an asset; a liability
E) an asset; an asset
D
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Relative to the United States, Europe has
A) higher unemployment. B) slower job growth. C) higher real wage growth. D) A and B. E) all of the above.
Economists use models to:
a. abstract from the complexities of the world. b. understand economic behavior. c. explain and help predict human behavior. d. do all of these.
Economic models are of limited use since they cannot be tested empirically with actual data
a. True b. False Indicate whether the statement is true or false
Which of the following terms best characterizes the demand for health care?
A. Price elastic B. Price inelastic C. Income inelastic D. Negative cross elasticity