Steve uses $300 from his paycheck to pay off his credit card balance. Based on this information:
A. Steve's saving has decreased by $300.
B. Steve's saving has increased by $300.
C. Steve has a capital loss of $300.
D. Steve's wealth is unchanged.
Answer: B
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(Consider This) Unlike newspaper dispensing devices, soft drink dispensing machines do not permit people to take more than one can or bottle with each payment. The reason is that the:
A. opportunity cost of additional cans or bottles of a soft drink increase very rapidly. B. marginal utility of extra soft drink cans or bottles declines slowly, particularly because they are storable and can be consumed later. C. marginal utility of extra soft drink cans or bottles declines quite rapidly. D. opportunity cost of additional cans or bottles of soft drink increases very slowly.
The traditional view regarding population and growth in DVCs is that:
A. The most important factor affecting population growth in DVCs is per capita consumption of energy B. Unemployment and underemployment are the major sources of population growth in DVCs C. Reduced birthrates must come first in DVCs, and then higher per capita incomes will follow D. Higher per capita incomes must come first in DVCs, and then reduced birth rates will follow