The statement of assets and liabilities of an entity is referred to as:
A) the balance of payments. B) a balance sheet.
C) an asset-liability sheet. D) a profit and loss statement.
B
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The concept of "wages" does not include which of the following items?
A. bonuses and royalties earned B. money spent by workers C. direct money payments, like salaries and commissions D. fringe benefits, like health insurance and paid leave
The air route from Dallas to Mexico City is served by more than one airline. The demand for tickets from American Airlines for that route is probably
A) inelastic but more elastic than the demand for all tickets for that route. B) elastic and more elastic than the demand for all tickets for that route. C) inelastic and less elastic than the demand for all tickets for that route. D) elastic but less elastic than the demand for all tickets for that route.
When quantity demanded decreases at every possible price, the demand curve a. shifts to the left
b. shifts to the right. c. there is a movement along the given demand curve. d. none of the above.
Two countries, Alpha and Beta, have the same levels of nominal and real GDP. Each dollar in Alpha is used more frequently than each dollar in Beta. Therefore, it must be the case that ________ in Alpha than in Beta.
A. the rate of inflation is greater B. the velocity is lower C. the money stock is smaller D. the price level is greater