Anything of value owned by a person or a firm is
A) an asset.
B) a liability.
C) an entitlement.
D) a durable good.
Answer: A
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Which of the following is likely to lead to a decrease in the demand for tennis balls?
A. An increase in the price of tennis balls. B. An increase in the price of the rubber used to make tennis balls. C. An increase in the price of tennis racquets. D. An increase in the expected future price of tennis balls.
Big-push development strategies rely primarily on _________ for their financing
a. government b. domestic private investment c. foreign private investment d. foreign aid e. ex-colonial centers
If the United States can make auto parts in less time than Mexico, then why are U.S. auto parts made in Mexico?
a. Trade is based on comparative advantage, not absolute advantage. b. Mexico has a larger labor force and more manufacturing sites. c. North American manufacturing is evenly divided based on treaties. d. Mexican suppliers have an absolute advantage over U.S. companies.
Using the cost of a similar market basket of goods across countries to compare an economic variable like gross national income applies the concept of
A. private equity financing. B. the Gini Index. C. purchasing power parity. D. the Heritage Foundation Index of Economic Freedom.