What Is the Amount of Total Liabilities at the End

question 34

Multiple Choice

What is the amount of total liabilities at the end of 2011?

• A) $7,075
• B) $10,075
• C) $9,075
• D) $12,975

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Definitions:

Budget Set

The collection of all possible bundles of goods and services that a consumer can afford given their income and the prices of goods.

Interest Rate

The amount of a loan that is subject to interest charges for the borrower, typically expressed as an annual percentage of the current loan balance.

Consumption

Households' practice of using goods and services.

Interest Rate

The interest rate is the percentage of a sum of money charged for its use, determining the cost of borrowing or the reward for saving.