Which of the following is the best example of "creative destruction"?
a. The imprudent use of a credit card by a family that already has a high level of debt.
b. The virtual elimination of the film camera by the digital camera.
c. The failure of a business because of poor management.
d. The failure of a business because of higher cost resulting from government regulation.
B
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If you buy a bond issued by Intel, the bond is a(n):
A) liability to Intel and an asset to you. B) liability to you and an asset to Intel. C) liability to both you and Intel. D) asset to both you and Intel.
Which of the following is most characteristic of developing nations?
A. A small percentage of the labor force in agriculture B. A relatively equitable distribution of income C. Low levels of labor productivity D. Low rates of population growth