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Author Question: Suppose you borrow 1,000 to purchase a car. Which of the following correctly represents the changes ... (Read 43 times)

nevelica

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on: Jun 30, 2018
Suppose you borrow 1,000 to purchase a car. Which of the following correctly represents the changes in your personal balance sheet after the bank lends the money, but before you spend it?
 a. Assets: loan, +1,000 . Liabilities and net worth: checking deposit, +1,000
 b. Assets: loan, -1,000 . checking deposit, +1,000 . Liabilities and net worth: no change
  c. Assets: loan, +1,000 . checking deposit, -1,000 . Liabilities and net worth: no change
  d. Assets: checking deposit, +1,000 . Liabilities and net worth: loan, +1,000
 e. Assets: checking deposit, +1,000 . Liabilities and net worth: loan, -1,000

Question 2

Net taxes are:
 a. taxes plus transfer payments.
 b. taxes minus transfer payments.
 c. an injection into the economic system.
  d. consumption after taxes.
 e. government spending minus taxes.


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fauacakatahaias

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


nevelica

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

Sarahjh

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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