If a bank has $1 million in assets and $50,000 in net worth, its liabilities must equal:
a. $50,000

Pirates have been intensely attacking ships off the shore of Somalia this year. Boat owners have reportedly coughed up more than $30 million in ransom and insurance premiums have shot up

The pirate activity and increase in premiums means that the expected wealth of boat owners who sail near Somalia is ________. A) decreasing B) increasing C) staying the same D) decreasing only if they have insurance

The maximum price that a buyer is willing to pay for a good measures his

A) producer surplus. B) willingness to pay. C) consumer surplus. D) marginal benefit.