A financial asset is considered ________ if it can be sold in a secondary market
A) a commodity
B) a security
C) a liability
D) durable
Answer: B
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The key feature of monopolistic competition is
A) interdependence of the firms. B) lack of advertisement. C) product differentiation. D) the small number of firms in the industry.
Which of the following statements is true?
a. The national debt is the current year's amount by which the government is spending more than it collects as taxes. b. Deficits are financed by the government issuing for sale more government securities. c. The debt ceiling refers to the amount of debt at which the government is officially declared as being bankrupt. d. Internal national debt is the portion of the national debt owed to foreigners.
If the firms in a competitive price-searcher market are suffering short-run losses, which of the following will occur in the long run?
a. New firms will enter the industry. b. Customers of firms that leave the industry will switch to remaining firms. c. Firms that remain in the industry will face reduced demand. d. Firms will continue to incur losses.
On January 1, 2006, a consumer borrowed $10,000 for a term of one year at an interest rate of 12 percent. How much principal and interest will the consumer pay back on January 1, 2007?
A. $10,000 B. $1,200 C. $8,929 D. $11,200