In the balance of payment accounts, transactions that bring in money are treated as debit and the transactions that take away money are treated as credits
a. True
b. False
Indicate whether the statement is true or false
False
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Industries with high barriers to entry
a. Pushes profits to normal returns b. Increases the likelihood of firms entering the industry c. Help firms sustain long term profits d. Increases the number of competitors
The earnings test reduces the amount of Social Security payments a retiree can collect unless she or he is under 60.
Answer the following statement true (T) or false (F)
At the equilibrium price, the quantity of the good that buyers are willing and able to buy
a. is greater than the quantity that sellers are willing and able to sell. b. exactly equals the quantity that sellers are willing and able to sell. c. is less than the quantity that sellers are willing and able to sell. d. Either a) or c) could be correct.
The quantity theory of money assumes that the velocity of money:
a. will rise if the money supply rises, but it will not change if the money supply falls. b. will fall if the money supply rises, and it will rise if the money supply falls. c. is constant. d. will rise if the money supply rises and fall if the money supply falls.