To a bank, an asset is an obligation that it owes to someone else
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose a country's net exports equal -$17.7 billion. Which of the following will happen if the volume of imports increases by $7 billion without any change in the volume of exports?
A) The country's net exports will stand at zero. B) The country's net exports will become positive. C) The country's net exports will stand at -$10.7 billion. D) The country's net exports will stand at -$24.7 billion.
The state governments in the U.S. spend a large percentage of their funds on ________
A) public welfare B) social security C) national defense D) income security
If the price of a textbook rises and then students purchase fewer textbooks, an economic model can show a cause-and-effect relationship only if which of the following conditions holds:
a. students' incomes fall. b. tuition decreases. c. the number of students increases. d. everything else is constant. e. the bookstore no longer accepts used book trade-ins.
Which of the following could cause the production function to shift upward?
a. A decrease in the capital stock b. An increase in the capital stock c. An increase in population d. A decrease in population e. An increase in transfer payments