Government debt is defined as:
A. accumulated deficits minus accumulated surpluses.
B. a shortfall of outgoing payments under incoming revenue.
C. accumulated deficits plus accumulated surpluses.
D. a shortfall of incoming revenue under outgoing payment.
Answer: A
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In order to use lock-in as a competitive strategy, firm managers should be prepared to do all of the following except:
A) invest in a given base of customers by giving concessions initially. B) avoid selling complementary products and access to the customer base. C) be the first to bring a new type of product to market. D) use loyalty programs as part of an entrenchment strategy.
Although the National Bank Act of 1863 was designed to eliminate state-chartered banks by imposing a prohibitive tax on banknotes, state banks were able to stay in business by
A) issuing credit cards. B) ignoring the regulations. C) acquiring funds through deposits. D) branching into other states.