Gus takes his $15 in lemonade stand earnings and deposits it into his savings account. Meanwhile, Gus's dad borrows $20,000 to buy a new family car. Gus's $15 represents a(n) ____ for the bank, while his dad's $20,000 loan represents a(n) ____ for the bank.
a) asset; asset
b) liability; liability
c) asset; liability
d) liability; asset
Ans: d) liability; asset
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When costs are uncertain, the type of procurement contract that will cover the uncertain costs plus an agreed-upon rate of return is _____
a. fixed fee b. cost plus fixed fee c. cost plus percentage fee d. cost plus incentive fee
For which of the following types of firm does the average revenue curve coincide with the marginal revenue curve?
a. A monopolist b. An oligopoly firm c. A monopolistically competitive firm d. A perfectly competitive firm e. A monopsonist
New classical economists contend that an unexpected increase in the money supply will:
a. increase the unemployment rate in the short run. b. reduce the unemployment rate in the short run. c. cause no short-run change in the unemployment rate. d. reduce the unemployment rate in the long run. e. increase the unemployment rate in the long run.
An increase in aggregate demand is shown by
A. a rightward shift in the aggregate demand curve. B. the movement down along the aggregate demand curve. C. a leftward shift in the aggregate demand curve. D. a movement up along the aggregate demand curve.