A balance sheet
A) measures flows of income and expenditure over a given period of time.
B) measures assets, liabilities, and net worth at a giving instance in time.
C) equates flows of revenue with flows of expenditure.
D) None of the above are correct.
Answer: B
Economics
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If an epidemic hits a Malthusian economy, the long-term consequence is
A) an increase in the standard of living. B) a reduction in the standard of living. C) no change in the standard of living. D) dependent on the population growth rate.
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If fixed cost at Q = 100 is $130, then
a. fixed cost at Q = 0 is $0 b. fixed cost at Q = 0 is less than $130 c. fixed cost at Q = 200 is $260 d. fixed cost at Q = 200 is $130 e. it is impossible to calculate fixed costs at any other quantity
Economics