A bank's net worth is:
a. equal to assets plus liabilities
b. sometimes called the owners' equity.
c. equal to assets minus reserves.
d. the same thing as net profits.
e. the amount of interest charged by the bank for short-term loans.
b
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Which of the following is NOT an important factor affecting growth in labor productivity?
A) the saving rate B) the speed with which prices fall C) the growth rate of physical capital D) the growth rate of labor productivity
Refer to the above figure. Demand will be unit-elastic when quantity is between
A) 0 and A. B) 0 and B. C) A and B. D) B and C.
A worker will become indifferent between spending the next hour on work or leisure if the benefit of another hour of work is:
A. greater than the opportunity cost. B. exactly equal to the opportunity cost. C. less than the opportunity cost. D. constant for each additional hour worked.
Which of the following statements about absolute and comparative advantage is not true? A country may have:
A. a comparative advantage but not an absolute advantage in the production of a good. B. an absolute advantage but not a comparative advantage in the production of a good C. the absolute advantage in the production of all goods. D. neither absolute nor comparative advantage in the production of any goods.