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Question : 81.              Cost structure a.refers to the relative proportion of fixed versus : 1311747

Economics

 

 

81.              Cost structure

a.refers to the relative proportion of fixed versus variable costs that a company incurs.

b.generally has little impact on profitability.

c.cannot be significantly changed by companies.

d.refers to the relative proportion of operating versus nonoperating costs that a company incurs.

 

 

82.              Outsourcing production will

a.reduce fixed costs and increase variable costs.

b.reduce variable costs and increase fixed costs.

c.have no effect on the relative proportion of fixed and variable costs.

d.make the company more susceptible to economic swings.

 

 

83.              Reducing reliance on human workers and instead investing heavily in computers and online technology will

a.reduce fixed costs and increase variable costs.

b.reduce variable costs and increase fixed costs.

c.have no effect on the relative proportion of fixed and variable costs.

d.make the company less susceptible to economic swings.

 

 

84.              Cost structure refers to the relative proportion of

a.selling expenses versus administrative expenses.

b.selling and administrative expenses versus cost of goods sold.

c.contribution margin versus sales.

d.none of the above.

 

 

85.              Mercantile Corporation has sales of $2,000,000, variable costs of $1,100,000, and fixed costs of $750,000. Mercantile’s degree of operating leverage is

a.1.22.

b.1.47.

c.1.20.

d.6.00.

 

 

86.              Mercantile Corporation has sales of $2,000,000, variable costs of $1,100,000, and fixed costs of $750,000. Mercantile’s margin of safety ratio is

a..08.

b..17.

c..20.

d..83.

 

 

87.              Which of the following statements is not true?

a.Operating leverage refers to the extent to which a company’s net income reacts to a given change in sales.

b.Companies that have higher fixed costs relative to variable costs have higher operating leverage.

c.When a company’s sales revenue is increasing, high operating leverage is good because it means that profits will increase rapidly.

d.When a company’s sales revenue is decreasing, high operating leverage is good because it means that profits will decrease at a slower pace than revenues decrease.

 

 

88.              Miller Manufacturing’s degree of operating leverage is 1.5. Warren Corporation’s degree of operating leverage is 6. Warren’s earnings would go up (or down) by ________ as much as Miller’s with an equal increase (or decrease) in sales.

a.1/4

b.4.5 times

c.4 times

d.7.5 times

 

 

89.              The margin of safety ratio

a.is computed as actual sales divided by break-even sales.

b.indicates what percent decline in sales could be sustained before the company would operate at a loss.

c.measures the ratio of fixed costs to variable costs.

d.is used to determine the break-even point.

 

 

90.              A cost structure which relies more heavily on fixed costs makes the company

a.more sensitive to changes in sales revenue.

b.less sensitive to changes in sales revenue.

c.either more or less sensitive to changes in sales revenue, depending on other factors.

d.have a lower break-even point.

 

 

 

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July 1, 2023
    

 

71) Suppose the change in the government's debt-to-GDP ratio in a given year is 0.026. This figure tells us that the government's debt-to-GDP ratio has

A) fallen by 0.026%.

B) risen by 0.026%.

C) risen by 2.6 percentage points.

D) fallen by 2.6 percentage points.

E) risen by 0.026 percentage points.

72) Suppose the government's debt-to-GDP ratio on January 1 of Year 1 is 32%. The change in the debt-to-GDP ratio during Year 1 is -0.037. On January 1 of Year 2 the government's debt-to-GDP ratio is

A) 31.963%.

B) 32. 037%.

C) 28.3%.

D) 35.7%.

E) Not enough information to determine.

73) Consider the following data about government debt and deficit in a given year:

A) remained unchanged.

B) risen by 50%.

C) fallen by 50%.

D) risen by 0.5 percentage points.

E) fallen by 0.5 percentage points.

74) Consider the following data about government debt and deficit in a given year:

A) 82 percentage points.

B) 8.2 percentage points.

C) 0.82 percentage points.

D) 2.8 percentage points.

E) 0.28 percentage points.

75) Consider the following data about government debt and deficit in a given year:

A) remained unchanged.

B) risen by 0.2 percentage points.

C) fallen by 0.2 percentage points.

D) risen by 2 percentage points.

E) fallen by 2 percentage points.

76) Suppose that the real rate of interest on government bonds is 4% and the growth rate of real GDP is 2%. If the government has a positive stock of outstanding debt and its policy objective is to hold the debt-to-GDP ratio constant at its current level, it must

A) eliminate the overall deficit.

B) run an annually balanced budget.

C) run a cyclically balanced budget.

D) run a primary budget deficit.

E) run a primary budget surplus.

77) Suppose the government's objective is to hold its debt-to-GDP ratio constant at its current level of 30%. If the real interest rate on government bonds is 4% and the growth rate of real GDP is 2%, the government must

A) run a primary budget deficit of 0.6% of GDP.

B) run an overall budget deficit of 6.0% of GDP.

C) run an overall budget surplus of 6.0% of GDP.

D) run a primary budget surplus of 0.6% of GDP.

E) balance the overall budget.

78) Suppose that the real rate of interest is 3% and the growth rate of real GDP is 1%. If the government has a positive stock of outstanding debt and its goal is to hold the debt-to-GDP ratio constant at its current level, then it

A) must run a cyclically balanced budget.

B) must run an annually balanced budget.

C) must run a primary budget deficit.

D) must run a primary budget surplus.

E) must eliminate the overall deficit.

79) Consider a government with an outstanding stock of public debt. If, in any given year, the government has a primary budget surplus and the real interest rate on government bonds is less than the growth rate of real GDP, then

A) debt-service payments will be eliminated.

B) the debt-to-GDP ratio is certainly negative.

C) the debt-to-GDP ratio will certainly rise.

D) the debt-to-GDP ratio will certainly fall.

E) real GDP will certainly rise.

80) Consider a government with an outstanding stock of public debt. If, in any given year, the government has a primary budget surplus and the real interest rate on government bonds is more than the growth rate of real GDP, then

A) the debt-to-GDP ratio will certainly fall.

B) debt-service payments will be eliminated.

C) the debt-to-GDP ratio is certainly negative.

D) the debt-to-GDP ratio will certainly rise.

E) the effect on the debt-to-GDP ratio is uncertain.

 

 

default image
July 1, 2023
    

 

71) Suppose the change in the government's debt-to-GDP ratio in a given year is 0.026. This figure tells us that the government's debt-to-GDP ratio has

A) fallen by 0.026%.

B) risen by 0.026%.

C) risen by 2.6 percentage points.

D) fallen by 2.6 percentage points.

E) risen by 0.026 percentage points.

72) Suppose the government's debt-to-GDP ratio on January 1 of Year 1 is 32%. The change in the debt-to-GDP ratio during Year 1 is -0.037. On January 1 of Year 2 the government's debt-to-GDP ratio is

A) 31.963%.

B) 32. 037%.

C) 28.3%.

D) 35.7%.

E) Not enough information to determine.

73) Consider the following data about government debt and deficit in a given year:

A) remained unchanged.

B) risen by 50%.

C) fallen by 50%.

D) risen by 0.5 percentage points.

E) fallen by 0.5 percentage points.

74) Consider the following data about government debt and deficit in a given year:

A) 82 percentage points.

B) 8.2 percentage points.

C) 0.82 percentage points.

D) 2.8 percentage points.

E) 0.28 percentage points.

75) Consider the following data about government debt and deficit in a given year:

A) remained unchanged.

B) risen by 0.2 percentage points.

C) fallen by 0.2 percentage points.

D) risen by 2 percentage points.

E) fallen by 2 percentage points.

76) Suppose that the real rate of interest on government bonds is 4% and the growth rate of real GDP is 2%. If the government has a positive stock of outstanding debt and its policy objective is to hold the debt-to-GDP ratio constant at its current level, it must

A) eliminate the overall deficit.

B) run an annually balanced budget.

C) run a cyclically balanced budget.

D) run a primary budget deficit.

E) run a primary budget surplus.

77) Suppose the government's objective is to hold its debt-to-GDP ratio constant at its current level of 30%. If the real interest rate on government bonds is 4% and the growth rate of real GDP is 2%, the government must

A) run a primary budget deficit of 0.6% of GDP.

B) run an overall budget deficit of 6.0% of GDP.

C) run an overall budget surplus of 6.0% of GDP.

D) run a primary budget surplus of 0.6% of GDP.

E) balance the overall budget.

78) Suppose that the real rate of interest is 3% and the growth rate of real GDP is 1%. If the government has a positive stock of outstanding debt and its goal is to hold the debt-to-GDP ratio constant at its current level, then it

A) must run a cyclically balanced budget.

B) must run an annually balanced budget.

C) must run a primary budget deficit.

D) must run a primary budget surplus.

E) must eliminate the overall deficit.

79) Consider a government with an outstanding stock of public debt. If, in any given year, the government has a primary budget surplus and the real interest rate on government bonds is less than the growth rate of real GDP, then

A) debt-service payments will be eliminated.

B) the debt-to-GDP ratio is certainly negative.

C) the debt-to-GDP ratio will certainly rise.

D) the debt-to-GDP ratio will certainly fall.

E) real GDP will certainly rise.

80) Consider a government with an outstanding stock of public debt. If, in any given year, the government has a primary budget surplus and the real interest rate on government bonds is more than the growth rate of real GDP, then

A) the debt-to-GDP ratio will certainly fall.

B) debt-service payments will be eliminated.

C) the debt-to-GDP ratio is certainly negative.

D) the debt-to-GDP ratio will certainly rise.

E) the effect on the debt-to-GDP ratio is uncertain.

 

 

default image
July 1, 2023
    

 

71) Suppose the change in the government's debt-to-GDP ratio in a given year is 0.026. This figure tells us that the government's debt-to-GDP ratio has

A) fallen by 0.026%.

B) risen by 0.026%.

C) risen by 2.6 percentage points.

D) fallen by 2.6 percentage points.

E) risen by 0.026 percentage points.

72) Suppose the government's debt-to-GDP ratio on January 1 of Year 1 is 32%. The change in the debt-to-GDP ratio during Year 1 is -0.037. On January 1 of Year 2 the government's debt-to-GDP ratio is

A) 31.963%.

B) 32. 037%.

C) 28.3%.

D) 35.7%.

E) Not enough information to determine.

73) Consider the following data about government debt and deficit in a given year:

A) remained unchanged.

B) risen by 50%.

C) fallen by 50%.

D) risen by 0.5 percentage points.

E) fallen by 0.5 percentage points.

74) Consider the following data about government debt and deficit in a given year:

A) 82 percentage points.

B) 8.2 percentage points.

C) 0.82 percentage points.

D) 2.8 percentage points.

E) 0.28 percentage points.

75) Consider the following data about government debt and deficit in a given year:

A) remained unchanged.

B) risen by 0.2 percentage points.

C) fallen by 0.2 percentage points.

D) risen by 2 percentage points.

E) fallen by 2 percentage points.

76) Suppose that the real rate of interest on government bonds is 4% and the growth rate of real GDP is 2%. If the government has a positive stock of outstanding debt and its policy objective is to hold the debt-to-GDP ratio constant at its current level, it must

A) eliminate the overall deficit.

B) run an annually balanced budget.

C) run a cyclically balanced budget.

D) run a primary budget deficit.

E) run a primary budget surplus.

77) Suppose the government's objective is to hold its debt-to-GDP ratio constant at its current level of 30%. If the real interest rate on government bonds is 4% and the growth rate of real GDP is 2%, the government must

A) run a primary budget deficit of 0.6% of GDP.

B) run an overall budget deficit of 6.0% of GDP.

C) run an overall budget surplus of 6.0% of GDP.

D) run a primary budget surplus of 0.6% of GDP.

E) balance the overall budget.

78) Suppose that the real rate of interest is 3% and the growth rate of real GDP is 1%. If the government has a positive stock of outstanding debt and its goal is to hold the debt-to-GDP ratio constant at its current level, then it

A) must run a cyclically balanced budget.

B) must run an annually balanced budget.

C) must run a primary budget deficit.

D) must run a primary budget surplus.

E) must eliminate the overall deficit.

79) Consider a government with an outstanding stock of public debt. If, in any given year, the government has a primary budget surplus and the real interest rate on government bonds is less than the growth rate of real GDP, then

A) debt-service payments will be eliminated.

B) the debt-to-GDP ratio is certainly negative.

C) the debt-to-GDP ratio will certainly rise.

D) the debt-to-GDP ratio will certainly fall.

E) real GDP will certainly rise.

80) Consider a government with an outstanding stock of public debt. If, in any given year, the government has a primary budget surplus and the real interest rate on government bonds is more than the growth rate of real GDP, then

A) the debt-to-GDP ratio will certainly fall.

B) debt-service payments will be eliminated.

C) the debt-to-GDP ratio is certainly negative.

D) the debt-to-GDP ratio will certainly rise.

E) the effect on the debt-to-GDP ratio is uncertain.

 

 

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