Anything of value owned by a person or a firm is
A) an asset. B) owner's yield. C) a liability. D) wealth.
A
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During the last year, foreign investment in a country was $500 billion and the country's investment abroad was $600 billion. Which of the following statements is true?
A) The country has a current account deficit of $1,100 billion. B) The country has net borrowing of $100 billion. C) The country has a current account deficit of $100 billion. D) The country has a capital and financial account deficit of $1,100 billion. E) The country has net lending of $100 billion.
Suppose the marginal propensity to consume (MPC) is 0.9 and there is a $3,000 increase in planned investment. Given this information, real GDP will increase by
A) $3,000. B) $2,700. C) $30,000. D) $3,333.
Suppose that for Merv the marginal utility of $50-per-serving caviar is 100 and the marginal utility of $1-per-serving popcorn is 10 . For his snack, Merv should buy:
a. the caviar if he has the $50; otherwise, the popcorn. b. the caviar if he has the $50; otherwise, nothing. c. the popcorn, whether he has the $50 or not. d. one serving each of the caviar and popcorn, if he has $51. e. five servings of popcorn for each serving of caviar.
Which of the following about costs is always true?
a. When marginal costs are less than average total costs, average total costs will be decreasing. b. When average fixed costs are falling, marginal costs must be less than average fixed costs. c. When average fixed costs are rising, marginal costs must be greater than average total costs. d. When marginal costs are greater than average total costs, average total costs will be decreasing.