A checking deposit in a bank is considered ________ of that bank.
A. capital
B. a liability
C. net worth
D. an asset
Answer: B
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If the demand for bus transportation in a city is inelastic, then the city should lower the price to increase revenue
Indicate whether the statement is true or false
Compare and contrast the "life cycle" hypothesis and the "permanent income" hypothesis. What are their respective implications for inequality in the income distribution?
Exhibit 17-1 Nation of Padia
Exhibit 17-1 shows the production possibility curve of the nation of Padia. Based only on this information, the point which would produce the highest rate of growth would be:
A. I B. II C. III D. IV
A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and take over a store building that he owns and currently rents to his brother for $6,000 a year. His expenses at the sushi bar would be $50,000 for food and $2,000 for gas and electricity. What is the sum of his explicit costs?
A. $26,000. B. $66,000. C. $78,000. D. $52,000.