External link to Question : 16) Which of the following true? i.A price ceiling set below : 1241597

Question : 16) Which of the following true? i.A price ceiling set below : 1241597

  16) Which of the following is true? i.A price ceiling set below the equilibrium price decreases search activity. ii.A minimum wage is an example of a price ceiling. iii.A price support decreases the quantity consumed. A) only i B) only ii C) only iii D) i and iii E) ii and iii 17) Which of the following is true? i.A price support is inefficient. […]

External link to Question : 12) Suppose Puerto Rico and Hawaii currently have the same : 1241426

Question : 12) Suppose Puerto Rico and Hawaii currently have the same : 1241426

      12) Suppose Puerto Rico and Hawaii currently have the same production possibilities so that the above figure is the PPF for hotels and consumption goods in the two areas. Hotels are a capital good that,once built, will help produce still more consumption goods. If Puerto Rico produces more hotels than Hawaii, A) Hawaii’s PPF will shift outward further than Puerto Rico’s PPF. […]

External link to Question : 50) The figure above illustrates a small country’s production possibilities : 1226372

Question : 50) The figure above illustrates a small country’s production possibilities : 1226372

    50) The figure above illustrates a small country’s production possibilities frontier. Based on the figure, we can tell that the nation’s resources are A) equally productive in all tasks because the slope is negative. B) equally productive in all tasks because the production possibilities frontier is bowed out. C) not equally productive in all tasks because the slope is negative. D) not equally […]

External link to Question : 11) The purchase of foreign assets by Canadians is, for : 1384540

Question : 11) The purchase of foreign assets by Canadians is, for : 1384540

  11) The purchase of foreign assets by Canadians is, for Canada, considered a capital A) outflow and is recorded as a debit on the current account. B) outflow and is recorded as a debit on the capital account. C) inflow and is recorded as a credit on the current account. D) inflow and is recorded as a credit on the capital account. E) inflow […]

External link to Question : 41) The figure above shows Lauren’s demand curve for Barbie : 1226486

Question : 41) The figure above shows Lauren’s demand curve for Barbie : 1226486

      41) The figure above shows Lauren’s demand curve for Barbie dolls and the market price for Barbie dolls. Using the area of the consumer surplus triangle, Lauren’s total consumer surplus from purchasing 3 dolls is A) $5.50. B) $10.00. C) $22.50. D) $45.00. E) 3 dolls. 42) The figure above shows Lauren’s demand curve for Barbie dolls and the market price for […]

External link to Question : 31.If a company’s collection period for accounts receivable considered to : 1241857

Question : 31.If a company’s collection period for accounts receivable considered to : 1241857

  31.If a company’s collection period for accounts receivable is considered to be excessively long, then a. the company may want to invest excess cash from receivable collections in the stock market. b. the company might examine its billing procedures in order to expedite collection from customers. c. customer returns should be disallowed in order to increase the collection of cash. d. cash flows from […]

External link to Question : 50) If the demand for cell phone service inelastic, then A) : 1387524

Question : 50) If the demand for cell phone service inelastic, then A) : 1387524

    50) If the demand for cell phone service is inelastic, then A) the percentage change in quantity demanded is greater than the percentage change in price (in absolute value). B) the percentage change in quantity demanded is equal to the percentage change in price. C) the quantity demanded does not change in response to changes in price. D) the percentage change in quantity […]

External link to Question : 11.Ifacountryallowstradeand,foracertaingood,thedomesticpricewithouttradeishigherthantheworldprice, a.thecountrywillbeanexporterofthegood. b.thecountrywillbeanimporterofthegood. : 1262631

Question : 11.Ifacountryallowstradeand,foracertaingood,thedomesticpricewithouttradeishigherthantheworldprice, a.thecountrywillbeanexporterofthegood. b.thecountrywillbeanimporterofthegood. : 1262631

  11.Ifacountryallowstradeand,foracertaingood,thedomesticpricewithouttradeishigherthantheworldprice, a.thecountrywillbeanexporterofthegood. b.thecountrywillbeanimporterofthegood. c.thecountrywillbeneitheranexporternoranimporterofthegood. d.Additionalinformationisneededaboutdemandtodeterminewhetherthecountrywillbeanexporterofthegood,animporterofthegood,orneither. 12.Ifacountryallowstradeand,foracertaingood,thedomesticpricewithouttradeislowerthantheworldprice, a.thecountrywillbeanexporterofthegood. b.thecountrywillbeanimporterofthegood. c.thecountrywillbeneitheranexporternoranimporterofthegood. d.Additionalinformationisneededaboutdemandtodeterminewhetherthecountrywillbeanexporterofthegood,animporterofthegood,orneither. 13.Foranycountry,iftheworldpriceofcopperishigherthanthedomesticpriceofcopperwithouttrade,thatcountryshould a.exportcopper,sincethatcountryhasacomparativeadvantageincopper. b.importcopper,sincethatcountryhasacomparativeadvantageincopper. c.neitherexportnorimportcopper,sincethatcountrycannotgainfromtrade. d.neitherexportnorimportcopper,sincethatcountryalreadyproducescopperatalowcostcomparedtoothercountries. 14.Foranycountry,iftheworldpriceofcopperislowerthanthedomesticpriceofcopperwithouttrade,thatcountryshould a.exportcopper. b.importcopper. c.neitherexportnorimportcopper,sincethatcountrycannotgainfromtrade. d.neitherexportnorimportcopper,sincethatcountryalreadyproducescopperatalowcostcomparedtoothercountries. 15.IftheworldpriceofapplesishigherthanArgentina’sdomesticpriceofappleswithouttrade,thenArgentina a.shouldimportapples. b.hasacomparativeadvantageinapples. c.shouldproducejustenoughapplestomeetitsdomesticdemand. d.shouldrefrainaltogetherfromproducingapples. 16.Assume,forVietnam,thatthedomesticpriceoftextileswithoutinternationaltradeishigherthantheworldpriceoftextiles.Thissuggeststhat,intheproductionoftextiles, a.VietnamhasacomparativeadvantageoverothercountriesandVietnamwillimporttextiles. b.VietnamhasacomparativeadvantageoverothercountriesandVietnamwillexporttextiles. c.othercountrieshaveacomparativeadvantageoverVietnamandVietnamwillimporttextiles. d.othercountrieshaveacomparativeadvantageoverVietnamandVietnamwillexporttextiles. 17.Assume,forVietnam,thatthedomesticpriceoftextileswithoutinternationaltradeislowerthantheworldpriceoftextiles.Thissuggeststhat,intheproductionoftextiles, a.VietnamhasacomparativeadvantageoverothercountriesandVietnamwillimporttextiles. b.VietnamhasacomparativeadvantageoverothercountriesandVietnamwillexporttextiles. c.othercountrieshaveacomparativeadvantageoverVietnamandVietnamwillimporttextiles. d.othercountrieshaveacomparativeadvantageoverVietnamandVietnamwillexporttextiles. 18.Assume,forMexico,thatthedomesticpriceoforangeswithoutinternationaltradeislowerthantheworldpriceoforanges.Thissuggeststhat,intheproductionoforanges, a.MexicohasacomparativeadvantageoverothercountriesandMexicowillexportoranges. b.MexicohasacomparativeadvantageoverothercountriesandMexicowillimportoranges. c.othercountrieshaveacomparativeadvantageoverMexicoandMexicowillexportoranges. d.othercountrieshaveacomparativeadvantageoverMexicoandMexicowillimportoranges. 19.SupposeIrelandexportsbeertoChinaandimportspineapplesfromtheUnitedStates.Thissituationsuggeststhat a.IrelandhasacomparativeadvantagerelativetotheUnitedStatesinproducingpineapples,andChinahasacomparativeadvantagerelativetoIrelandinproducingbeer. b.IrelandhasacomparativeadvantagerelativetoChinainproducingbeer,andtheUnitedStateshasacomparativeadvantagerelativetoIrelandinproducingpineapples. c.IrelandhasanabsoluteadvantagerelativetotheUnitedStatesinproducingpineapples,andChinahasanabsoluteadvantagerelativetoIrelandinproducingbeer. d.IrelandhasanabsoluteadvantagerelativetoChinainproducingbeer,andtheUnitedStateshasanabsoluteadvantagerelativetoIrelandinproducingpineapples. 20.Tradeamongnationsisultimatelybasedon a.absoluteadvantage. b.strategicadvantage. c.comparativeadvantage. d.technicaladvantage.    

External link to Question : 41. Aunt Lucy’s CandiesAunt Lucy’s Candies sells standard and premium chocolate : 1291687

Question : 41. Aunt Lucy’s CandiesAunt Lucy’s Candies sells standard and premium chocolate : 1291687

  41. Aunt Lucy’s CandiesAunt Lucy’s Candies sells standard and premium chocolate candies through its catalog business. Many of the candies are sold in bulk to other companies. Last year, the company incurred $400,000 in overhead costs. After implementing activity-based costing (ABC), the company’s controller identified the following information:  Activity Allocation Base Proportion of Overhead Cost Purchasing Number of purchase orders 30% Processing Number of units […]

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