_____ is the reward savers earn for deferring consumption
a. Dividend
b. Wage
c. Rent
d. Profit
e. Interest
e
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How does a free-market system address the output selection task?
What will be an ideal response?
A difference between the market and the public sector is that
A) competition exists only in the market sector. B) resources are only scarce for the market sector. C) decision making is by majority rule in the public sector but not in the market sector. D) only the public sector produces private goods.
If a firm is currently in short-run equilibrium earning a profit, what impact will a lump-sum tax have on its production decision?
A) The firm will decrease output to earn a higher profit. B) The firm will increase output but earn a lower profit. C) The firm will not change output but earn a lower profit. D) The firm will not change output and earn a higher profit.
A corporate bond is a ________ issued by a corporation when it borrows money.
A. certificate of deposit B. private stock C. derivative security D. promissory note