29) Increases in the marginal product of labor result from A) the use of new technology. B) hiring more efficient workers. C) the division of labor and specialization. D) increasing the usage of all inputs. 30) Gertrude Stork’s Chocolate Shoppe normally employs 4 workers. When the Chocolate Shoppe hired a 5th worker the Shoppe’s total output decreased. Therefore, A) the marginal […]
Multiple Choice – Section 02B: Comparative Advantage: The Driving Force of Specialization Table3-34 AssumethatIndonesiaandIndiacanswitchbetweenproducingriceandbananasataconstantrate. LaborHoursNeeded toMake1Unitof NumberofUnits Producedin40Hours Rice Bananas Rice Bananas Indonesia 2 5 20 8 India 4 2 10 20 1.RefertoTable3-34.Indonesia’sopportunitycostofproducingbananasis a.2.5unitsofrice.ThisishigherthanIndia’sopportunitycostofproducingbananas. b.2.5unitsofrice.ThisislowerthanIndia’sopportunitycostofproducingbananas. c.2/5unitsofrice.ThisishigherthanIndia’sopportunitycostofproducingbananas. d.2/5unitsofrice.ThisislowerthanIndia’sopportunitycostofproducingbananas. 2.RefertoTable3-34.India’sopportunitycostofproducingriceis a.1/2unitsofbananas.ThisishigherthanIndonesia’sopportunitycostofproducingrice. b.1/2unitsofbananas.ThisislowerthanIndonesia’sopportunitycostofproducingrice. c.2unitsofbananas.ThisishigherthanIndonesia’sopportunitycostofproducingrice. d.2unitsofbananas.ThisislowerthanIndonesia’sopportunitycostofproducingrice. 3.RefertoTable3-34.Forwhichgood(s)doesIndonesiahaveacomparativeadvantage a.riceandbananas. b.ricebutnotbananas. c.bananasbutnotrice. d.netherricenorbananas. 4.RefertoTable3-34.Atwhichofthefollowingprices,ifany,canIndiaandIndonesiabothgainfromtrade? a.1/5unitsofbananasperunitofrice. b.1/3unitsofbananasperunitofrice. c.3/5unitsofbananasperunitofrice. d.Noneoftheabove. Table3-35 LaborHoursNeededtoProduce 1DozenEggs 1PoundHam […]
22) The major difference between monopolistic competition and monopoly is A) monopoly is a price setter, and a firm in monopolistic competition is a price taker. B) only a monopoly can make an economic profit in the long run. C) only a firm in monopolistic competition can make an economic profit in the short run. D) how the quantity of output is determined. E) […]
51. Jack is a lawyer who is a member at Ocean Spray Country Club where he spends $7,200 in dues, $4,000 in meals, and $2,000 in green fees to entertain clients. He is also a member of the local Rotary club where he meets potential clients. The dues for the Rotary club are $1,200 a year. How much of the above expenses can Jack deduct […]
11.CSR reporting is an effective means of formal communication to companies as these reports: a.assist in improving a company’s profitability and competitive position. b.mainly focus on building corporate reputation. c.help in fulfilling the moral obligation to the society. d.help in assessing the actual commitment of the company to responsibility programs. 12.Which of the following companies have the highest risk of failing to deliver on […]
41) The above figure shows the market for 2 bedroom town homes in San Diego. If a rent ceiling is set at $1,000 per month then there is a A) surplus equal to 150,000 town homes. B) shortage equal to 100,000 town homes. C) surplus equal to 100,000 town homes. D) shortage equal to 150,000 town homes. E) shortage equal to 250,000 town […]
21) Which of the following results from a price ceiling? i.increased search activity ii.surplus iii.black market A) i only B) i and iii C) ii and iii D) i, ii, and iii E) ii only 22) An illegal market in which the price exceeds a legally imposed price ceiling is called a A) shortage market. B) surplus market. C) black market. D) fair […]
11. Which of the following would not be included on a job cost report? A. Marketing costs B. Direct labor costs C. Manufacturing overhead costs D. Direct materials cost 12. Which of the following statements is correct regarding fringe benefits earned by employees whose regular wages are normally classified as direct labor? A. Fringe benefits should also be classified as direct labor. B. Fringe benefits should be classified as indirect labor. […]
12.7 International Banking 1) The spectacular growth in international banking can be explained by A) the rapid growth in international trade. B) the 1988 Basel Agreement. C) the desire for U.S. banks to escape burdensome domestic regulations. D) the creation of the World Trade Organization. 2) What country is given credit for the birth of the Eurodollar market? A) The United States […]
11) Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market. Kevin will train how many clients per day? A) 4 B) 6 C) 10 D) between 2 and 4 E) None of the above answers is correct. 12) Kevin owns a personal training gymnasium […]
Add (1) point for all “YES” answers:
Tally up your score (1 point for each “YES”. If your score is higher than a 4, you may be vulnerable to hackers, Identity thieves, or someone trying to steal your information.
Use the "WRITE SUBMISSION" to upload your score from the questions. No need to explain which questions you had answered YES.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more