An asset that can easily be exchanged for goods and services is referred to as:
a. an intangible asset.
b. a productive resource.
c. a liquid asset.
d. a fixed asset.
e. a scarce resource.
c
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The best description of the economic ideology during World War I was __________
a. The belief that the economy could be strengthened by centralized coordination. b. The economy would work best with a strong commitment to the free market. c. The US should eliminate many federal agencies during World War I to make the government more efficient.
The Earned Income Tax Credit avoids the poverty trap by doing which of the following?
a. Lowering benefits by 21.06 cents for every dollar earned above $17,530 b. Insisting people work in order to claim the benefit c. Allowing workers to keep their benefits no matter how high their income increased d. Increasing benefits by 21.06 cents for every dollar earned above $17,530
Population growth will most likely lead to increased bottled water demand, short-term
a. shortages, and a resultant price increase b. surpluses, and a resultant price increase c. shortages, and a resultant price decrease d. surpluses, and a resultant price decrease e. surpluses, and a resultant price decrease
Profit is the:
A. sum of total revenue and total cost. B. total revenue minus total cost. C. total cost minus total revenue. D. None of these is true.