1. (TCO 1) An SSU’s (Points : 3)
| 1. (TCO 1) An SSU’s (Points : 3) |
(a) income and expenditures for the period are equal.
(b) income for the period exceeds expenditures.
(c) expenditures for the period exceed receipts.
(d) spending is entirely financed by credit cards.
| 2. (TCO 1) An efficient financial system (Points : 3)(a) eliminates search and transactions costs. (b) is a mere theoretical possibility. (c) promotes economic growth and social progress. (d) depends on high volumes of “direct” transactions. |
| Question 3.3.(TCO 1) Which of the following are economic units? (Points : 3)(a) Households (b) Businesses (c) Governments (d) All of the above |
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