The claims of the owners of a firm against the firm's assets are called:
A. working capital.
B. assets.
C. net worth.
D. liabilities.
C. net worth.
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Most people buy salt infrequently and in small quantities. Even a doubling of the price of salt is likely to result in a small decline in the quantity of salt demanded. Therefore
A) the price elasticity of demand for salt is greater than 1 (in absolute value). B) the demand for salt will be perfectly inelastic. C) salt is a normal good. D) the demand for salt is relatively inelastic.
The experience of disintermediation in the banking industry illustrates that
A) more regulation of financial markets may avoid such problems in the future. B) banks are unable to remain competitive with other financial intermediaries. C) consumers no longer desire the services that banks provide. D) markets invent alternatives to costly regulations.