In a commercial bank's T-account, reserves and outstanding loans are recorded as:
a. debts.
b. profits.
c. assets.
d. liabilities.
c
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Marty's Bird House suffers a short-run loss. Marty can reduce his loss below the amount of his total fixed costs by continuing to produce if his revenue
A) exceeds his implicit costs. B) exceeds his nonmonetary opportunity costs. C) exceeds his marginal costs. D) exceeds his variable costs.
The way one firm relates to another in the supply chain is referred to as being
A) upstream or downstream. B) latitudinal or longitudinal. C) left or right. D) competitor or conspirator.
Which of the following activities, if any, represents an external benefit? a. The benefit to a consumer from watching a film on DVD
b. The reduction in air quality resulting from industrial development in an urban area. c. The increase in the value of property belonging to your neighbors when you hire a landscaper to beautify your front yard. d. The reduction in property values when a new airport is built in a neighborhood.
If you put $250 into an account with a 4 percent interest rate, how many years would you have to wait to have $432.92?
a. 10 b. 14 c. 17 d. 20