The difference between assets and liabilities is
A. a balance sheet.
B. net worth.
C. legal reserves.
D. a sweep account.
Answer: B
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The last time gas prices increased drastically, sales of large Sport Utility Vehicles (SUVs) fell. Why?
A. Higher gas prices lowered the benefit of driving an SUV. B. Higher gas prices increased the cost of driving a SUV. C. Higher gas prices lowered the cost of driving a SUV. D. Higher gas prices increased the benefit of driving an SUV.
Government production accounts for about half of all GDP in the United States
a. True b. False Indicate whether the statement is true or false
Discuss why the Fed rarely changes the reserve requirements
The "composite good" refers to
A. income not spent on good X in a two-dimensional graphical presentation. B. large purchases that cannot be incrementally divided. C. an abstraction requiring more than a three dimensional graph. D. the notion that consumer pleasure cannot be modeled graphically.