Interest and principal on long-term debt are considered
a. long-term liabilities
b. fixed liabilities
c. liquid liabilities
d. general liabilities
e. current liabilities
a. long-term liabilities
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Season ticket holders often purchase their tickets before a season begins. There is often a discount associated with season tickets. Why?
A) Buying season tickets entails risk, which consumers are willing to bear if they are compensated for doing so. B) Buying season tickets is a way of guaranteeing a supply of tickets for the secondary market. C) Selling season tickets entails greater transactions costs which team owners hope to avoid. D) Sports teams are local monopolies.
The unemployment rate measures the: a. number of people in the labor force divided by the adult population
b. percentage of people in the labor force who are unemployed. c. percentage of people in an economy who have dropped out of the labor force. d. number of people in the adult population who are looking for work. e. number of people in the labor force who are not working.
Shane just received a pay raise. Which of the following actions would be an example of the substitution effect on labor?
a. deciding to work extra hours b. deciding to spend more time on leisure c. deciding to purchase more expensive brands d. deciding to save more money for retirement
Which economists believe that fiscal policy is effective, while monetary policy may be ineffective?
a) Monetarists b) Keynesians c) Classical economists d) Fisherites