Real estate is property, which can be either a tangible or an intangible asset. Which of the following would be considered an intangible asset?
A. Land
B. Building
C. Mortgage
D. Fence
Ans: C. Mortgage
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What is the present value of an infinite stream of annual payments of $10,000 per year if the first payment is received one year from today? Assume the interest rate is 10 percent
a. $100,000 b. $1,000,000 c. $10,000,000 d. $1,000,000,000
Automatic stabilizers:
What will be an ideal response?
In a competitive marketplace, prices adjust until
A) MRS's are equal to zero. B) excess supply equals excess demand equals zero in all markets. C) each consumer has maximized utility subject to his budget constraint. D) all firms earn zero profit.
In the long run, competitive firms MUST be profit maximizers because if they do not maximize profits,
A) they will not survive. B) they will not be price takers. C) they will attract entry. D) the profits that they do earn will only cover variable costs.