Double-entry bookkeeping is a system of accounting in which:
a. it is ideal for credits to be greater than debits.
b. it is ideal for debits to be greater than credits.
c. each transaction is recorded in the same account twice.
d. only foreign and domestic accounts are used.
e. the debit total must equal the credit total for the transactions as a whole.
e
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Consider a good whose consumption takes place publicly. Your decision to buy that good depends
A) both on the characteristics of the product and on how many other people are buying the good. B) only on the price of the good. C) only on how many other people buy the good. D) only on the characteristics of the good.
Cost-plus pricing and guaranteed profit regulation give the same results
a. True b. False Indicate whether the statement is true or false
When investors follow a "herd instinct," they:
A. only makes decisions as a group, making it hard to determine individual behavior. B. make decisions as a group, inflating the prices of goods somewhat arbitrarily. C. invest in something simply because everyone else is doing it. D. invest in something as a group, making it appear more valuable than it is.
Exports minus imports equal ______________.
Fill in the blank(s) with the appropriate word(s).