71) A decrease in the stock of capital will cause the A) production possibility frontier to shift outward. B) production possibility frontier to shift inward. C) economy to move down the production possibility frontier. D) economy to move closer to its production possibility frontier.   72) Consider two countries, Estonia and Ukraine. Estonia devotes a larger portion of its production to capital. All other […]

  31.The following are amounts from the accounting records of Farley Company before adjusting entries have been for the year ending December 31, 2010. Cash $  3,200 Accounts receivable 2,600 Supplies 2,100 Investment in Coca-Cola stock 10,000 Equipment 80,000 Accumulated depreciation 20,000 Accounts payable 4,800 Note payable 8% 20,000 Contributed capital 24,500 Retained earnings 11,800 Service revenue 42,600 Interest revenue 1,200 Supplies expense 5,000 Wage […]

    51) If nominal GDP increases from one year to the next, then A) production must have increased. B) production could have increased, decreased, or stayed the same. C) prices must have increased. D) prices and production must both have increased. E) prices and production must both have decreased.   52) Which of the following statement is correct? A) If nominal GDP increases, then […]

    21) If the opportunity cost of production for two goods is different between two countries, then  A) trade cannot benefit either country. B) only one country can be made better off by trade. C) mutually beneficial trade is possible. D) trade will only benefit both countries if one can lower its opportunity costs.     22) If Canada has a comparative advantage relative […]

    61.              Consider the reaction, N2(g) + 2O2(g) ? 2NO2(g) The molecular image represents a mixture of N2(g) and O2(g) just before reaction occurs. What is the limiting reactant and how much of the excess reactant remains after the reaction is complete?   The image contains 3 N2 molecules and 9 O2 molecules. A)N2(g), 6 O2(g)D)O2(g), 2 N2(g) B)O2(g), 1 N2(g)E)N2(g), 7 O2(g) C)N2(g), 3 […]

  MULTIPLE CHOICE 1.What is “range anxiety?” a.A malfunction common to many EVs’ onboard GPS tracking systems b.A concern that EVs might run out of battery before reaching the next charge station c.An industry code word for tightening emission standards d.A concern that the Nissan Leaf will not be distribured to one’s market 2.What was one of the steps Nissan took to ensure a successful […]

    71.Which one of the following is a common use of the statement of cash flows by investors? A.To determine if the company can generate enough cash to acquire another company B.To determine if the company can generate enough cash to pay cash dividends to stockholders C.To determine if the company can generate enough cash to pay its employees D.To determine if the company […]

  1) Total value added in an economy is equal to the value of A) all final goods produced. B) all final and intermediate goods produced. C) all inputs and outputs in the economy. D) all profits of all firms in the economy. E) the sum of the value of primary, intermediate and final goods. 2) Suppose national accounting was done by adding up the […]

  7.3   Nominal and Real Values   1) The difference between nominal and real is A) nominal is measured in current dollars and real is measured in dollars of a given year. B) real is measured in current dollars and nominal is measured in dollars of a given year. C) nominal is a number stated in dollars and real is stated with an index number. […]

  1.Which best describes entrepreneurs? a.Those who identify and exploit previously unexplored opportunities. b.Founders and owners of new businesses. c.Managers of small existing firms (i.e. those with fewer than 500 employees). d.All of the above. e.None of the above. 2.Which of the following are NOT true in regards to small and medium-sized enterprises (SMEs). a.They create approximately 50% of total value added in the world. […]