Money is:
A. the sum of assets minus debts.
B. the same as income.
C. all financial assets.
D. any asset used to make purchases.
Answer: D
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If the price elasticity of supply for wheat is less than 1, then the supply of wheat is
a. inelastic. b. elastic. c. unit elastic. d. quite sensitive to changes in income.
Considering only its direct effect on income, contractionary monetary policy tends to:
A. increase the exchange rate and decrease the trade deficit. B. be ambiguous with respect to the trade deficit but decrease the exchange rate. C. decrease the exchange rate and increase the trade deficit. D. be ambiguous with respect to the exchange rate but decrease the trade deficit.
If perfectly competitive firms have to account for external costs of production, then at the equilibrium level of output
A. P < MSC B. P = MC C. MC = MSC D. Both A and C are correct.
Is there a relationship between a CEO's retirement and the R&D expenses in a firm?
What will be an ideal response?