72.The first U.S. merger wave, in 1897 was largely the result of a.a backlash created by the anti-trust legislation of the 1890’s. b.industrialization. c.a growing emphasis on a truly national economy rather than a grouping of regional economies. d.none of the above.       73.The push for “portfolio” corporations in the 1960’s was so great that the vast majority of mergers that […]

    41) Which of the following is an example of money? A) currency in your wallet B) currency inside the banks C) checks written as payment for a good or service D) credit card used as a payment for a good or service E) a debit card Answer:  A Topic:  What is included in money Skill:  Level 2: Using definitions Section:  Checkpoint 11.1 Status:  […]

  31) Ceteris paribus, the position of the demand curve for apples will remain unchanged if there is a change in the A) income of apple eaters. B) price of apples. C) hourly wage rate of most workers. D) price of pears. E) knowledge regarding the health benefits of eating fresh fruit. 32) A variable that is assumed to be constant along an individual’s demand […]

  21.RefertoTable3-3.WhichofthefollowingcombinationsofcheeseandwinecouldEnglandnotproducein40hours? a.12unitsofcheeseand7unitsofwine b.16unitsofcheeseand6unitsofwine c.20unitsofcheeseand5unitsofwine d.26unitsofcheeseand4unitsofwine 22.RefertoTable3-3.WecouldusetheinformationinthetabletodrawaproductionpossibilitiesfrontierforEnglandandasecondproductionpossibilitiesfrontierforFrance.Ifweweretodothis,measuringcheesealongthehorizontalaxis,then a.theslopeofEngland’sproductionpossibilitiesfrontierwouldbe­4andtheslopeofFrance’sproductionpossibilitiesfrontierwouldbe-0.4. b.theslopeofEngland’sproductionpossibilitiesfrontierwouldbe­0.25andtheslopeofFrance’sproductionpossibilitiesfrontierwouldbe-2.5. c.theslopeofEngland’sproductionpossibilitiesfrontierwouldbe0.25andtheslopeofFrance’sproductionpossibilitiesfrontierwouldbe2.5. d.theslopeofEngland’sproductionpossibilitiesfrontierwouldbe4andtheslopeofFrance’sproductionpossibilitiesfrontierwouldbe0.4. 23.RefertoTable3-3.WecouldusetheinformationinthetabletodrawaproductionpossibilitiesfrontierforEnglandandasecondproductionpossibilitiesfrontierforFrance.Ifweweretodothis,measuringwinealongthehorizontalaxis,then a.theslopeofEngland’sproductionpossibilitiesfrontierwouldbe­4andtheslopeofFrance’sproductionpossibilitiesfrontierwouldbe-0.4. b.theslopeofEngland’sproductionpossibilitiesfrontierwouldbe­0.25andtheslopeofFrance’sproductionpossibilitiesfrontierwouldbe-2.5. c.theslopeofEngland’sproductionpossibilitiesfrontierwouldbe0.25andtheslopeofFrance’sproductionpossibilitiesfrontierwouldbe2.5. d.theslopeofEngland’sproductionpossibilitiesfrontierwouldbe4andtheslopeofFrance’sproductionpossibilitiesfrontierwouldbe0.4. Table3-4     AssumethatAndreaandPaulcanswitchbetweenproducingwheatandproducingbeefataconstantrate.     MinutesNeededtoMake1 BushelofWheat PoundofBeef Andrea 30 15 Paul 15 5   24.RefertoTable3-4.AssumethatAndreaandPauleachhas480minutesavailable.Ifeachpersondivideshistimeequallybetweentheproductionofwheatandbeef,thentotalproductionis a.24bushelsofwheatand64poundsofbeef. b.21bushelsofwheatand33poundsofbeef. c.16bushelsofwheatand48poundsofbeef. d.5bushelsofwheatand24poundsofbeef. 25.RefertoTable3-4.WhichofthefollowingcombinationsofwheatandbeefcouldAndreaproduceinone8-hourday? a.16bushelsofwheatand32poundsofbeef b.9bushelsofwheatand25poundsofbeef c.7bushelsofwheatand15poundsofbeef d.10bushelsofwheatand13poundsofbeef 26.RefertoTable3-4.WhichofthefollowingcombinationsofwheatandbeefcouldPaulnotproduceinone8-hourday? a.13bushelsofwheatand60poundsofbeef b.20bushelsofwheatand30poundsofbeef c.20bushelsofwheatand20poundsofbeef d.25bushelsofwheatand15poundsofbeef Table3-5   AssumethatArubaandIcelandcanswitchbetweenproducingcoolersandproducingradiosataconstantrate.     LaborHoursNeededtoMake1 Cooler Radio Aruba 2 5 Iceland 1 4     27.RefertoTable3-5.WhichofthefollowingrepresentsAruba’sproductionpossibilitiesfrontierwhen100laborhoursareavailable? a. […]

  41.When an adjusting entry that recognizes accrued interest revenue is recorded, a.assets increase and liabilities increase. b.shareholders’ equity increases and liabilities decrease. c.assets decrease and liabilities decrease. d.shareholders’ equity and assets increase. 42.All of the following statements are true except: a.All economic events recorded in financial statementsmust be relevant. b.All economic events recorded in financial statements must affect liabilities. c.All economic events recorded in […]

  41.Many medium-sized and small firms are not proactive in seeking export opportunities because:   A. they are familiar with the foreign market and do not find it challenging enough. B. the export market is similar to the home market in terms of legal and business practices. C. they are intimidated by the complexities and mechanics of exporting to foreign countries. D. domestic regulations limit their ability to export […]

  121) The marginal cost of production that is borne by the entire society is called the marginal A) private cost. B) social cost. C) external cost. D) public cost. E) user cost.   122) If the marginal private cost of producing one kilowatt of power in California is ten cents and the marginal social cost of each kilowatt is fourteen cents, then the marginal […]

    61. Which of the following is a likely advantage in activity-based costing (ABC)? A. A decrease in the need to maintain accurate cost driver information.B. A decrease in the need to maintain accurate overhead cost information.C. An increase in the ability to trace indirect costs to specific activities.D. As increase in the cost of accumulating, tracking, and assigning costs to products and services.   62. Which of the following is […]

  11) For which type of good is it necessary to sum the marginal benefit curves vertically in order to obtain the economy’s marginal benefit curve? A) public goods B) mixed goods C) private goods D) goods that are subject to the exclusion principle E) common resources   12) Suppose a public good is provided in an economy with only two consumers, Popeye and Captain […]

  Table 19-3   Consumption expenditures $800 Investment expenditures 200 Government purchases 300 Exports 100 Imports 200 Wages 800   39) Refer to Table 19-3. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals A) $2,200. B) $1,600. C) $1,400. D) $1,200.     Table 19-4   Consumption expenditures $800 Investment expenditures […]