In a simple economy without government or the foreign sector, saving must equal investment because output is divided into consumption and investment, and income is either consumed or saved.
Answer the following statement true (T) or false (F)
True
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A person's wealth
A) is measured independent of his or her current and expected future income. B) is a measure of how much money the person has. C) equals the value the person's assets minus his or her liabilities. D) All of the above are correct.
A manager believes there is a 10 percent chance their firm will have to pay $500,000, a 20 percent chance that they will have to pay $400,000 and a 70 percent chance they will be found innocent and pay nothing except the legal fees of $100,000. The manager has been offered a settlement deal of $230,000, which the manager's firm would have to pay the plaintiff. If the manager flips a coin to
decide to enter litigation or to settle, the manager is ________. A) a risk lover B) risk intolerant C) risk neutral D) risk averse
The Nash equilibrium for the game is
a. For both stores to advertise b. For megastore to advertise and for superstore not to advertise c. For megastore not to advertise and for superstore to advertise d. For both stores to not advertise
The price elasticity of supply will always be a negative number.
Answer the following statement true (T) or false (F)