If you purchase a good on credit, you are:
A. incurring a real liability to acquire a real asset.
B. incurring a financial liability to acquire a real asset.
C. exchanging a financial asset for another financial asset.
D. exchanging a financial liability for a real liability.
Answer: B
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Absent any violations of the first welfare theorem, the competitive equilibrium is efficient.
Answer the following statement true (T) or false (F)
In a fiduciary monetary system
A) coins get their value from the precious metals of which they are made. B) money gets its value from the confidence that the public has in its acceptability. C) paper currency does not have value, but balances in checking accounts do. D) checking account balances do not have value, but paper currency does.
When did the government address auto emissions by requiring new cars to be fitted with catalytic converters?
a. 1945 b. 1970 c. 1984 d. 2012
He Bresser plan set up interest rates below inflation to break the consumption boom that overheated the economy under the Cruzado Plan.
Answer the following statement(s) true (T) or false (F)