Loans made between lenders and borrowers are:
A. liabilities of the borrowers.
B. not taxable in the state of origination.
C. liabilities of the lenders.
D. assets to the borrowers.
Answer: A
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In a fixed exchange rate system, speculation regarding an expected revaluation or devaluation of a currency makes it more difficult to maintain the existing exchange rate
Indicate whether the statement is true or false
In the long run, a competitive firm has a marginal product of labor, MPL = L-1. The output price is $20 per unit and the wage is $7.25 per hour. The long-run labor demand curve for the firm is
A) 20L-0.05. B) 7.25L-0.05. C) 20L-1. D) 7.25L-1.
The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5P.If this economy is open to trade, and the world price of a car is $6,000, the domestic quantity demanded will be ________ and quantity supplied will be ________.
A. 8,000; 14,000 B. 12,000; 8,000 C. 12,000; 10,000 D. 14,000; 8,000
Country Y has fifteen thousand acres of land and forty-five thousand laborers, whereas the Rest of the World has one hundred thousand acres of land and two hundred thousand laborers. These countries produce a labor-intensive Good A, and a land-intensive Good B. When trade opens up between these countries, it can be inferred that Country Y will
A. import both goods. B. export both goods. C. export Good B, and import Good A. D. export Good A, and import Good B.