31) Refer to Figure 6-2. Suppose the price of Y is $1, the consumer’s income is $10, and the consumer is currently buying 3 units of good X and 4 units of good Y. If this consumer is maximizing her utility, then the price of X must be A) $1. B) $2. C) $3. D) $4. E) Impossible to tell with the given information. […]
72.When the acquired firm has a weak culture, it is best to use the _____ merger strategy. A.disambiguation B.separation C.deculturation D.assimilation E.integration 73._____ occurs when employees at the acquired company willingly embrace the cultural values of the acquiring organization. A.Deculturation B.Assimilation C.Separation D.Integration E.Negotiation 74.In which strategy does the acquiring company impose its culture and business practices on the acquired organization? A.Deculturation B.Assimilation C.Separation […]
21) Under a system of floating exchange rates, a shortage in a currency will lead to a(n) A) depreciation of that currency. B) appreciation of that currency. C) long-term surplus of that currency. D) long-term shortage of that currency. 22) The ________ states that if the costs of transportation are small, the price of the same good in different countries should be roughly […]
8.1 Gross Domestic Product Measures Total Production 1) In 2013, Ford Motor Company’s sales were rising. These events were caused by A) an economic recession. B) an economic expansion. C) an increase in advertising. D) improving quality of service. 2) In 2013, the U.S. auto industry experienced rising sales. The automobile industry was experiencing the effects of A) inflation. B) the […]
31) One of the possible roles governments can play in sponsoring growth is to A) provide tax incentives to encourage saving. B) own more of the nation’s resources in order to put them to use. C) close the nation to trade in order to protect its domestic producers. D) make decisions for its citizens as to the most suitable job. E) limit the […]
61. Portia Products Inc. has been asked by its shareholders to calculate the economic value added (EVA) for the current year. Portia’s controller has the following information available: Before-tax profit $6,000,000 Total assets 10,000,000 Current liabilities 2,000,000 Average interest rate on debt 10% Average tax rate 40% The company’s EVA is: A. $1,600,000B. $5,200,000C. $2,800,000D. $2,400,000 62. Donnelly Inc. has been […]
1) A firm can finance its purchase of new capital equipment (investment) in the following ways: 1) purchasing financial capital; 2) borrowing from a bank; 3) using its retained earnings. A) 1 only B) 2 only C) 3 only D) 1 and 3 E) 2 and 3 2) The concepts of stock and flow are involved in firms’ demand for labour and for capital. […]
110) A problem with pollution charges or taxes as a solution to pollution is that A) people don’t want the government to regulate industry. B) the necessary information about the polluting industry is costly and usually unavailable. C) taxes are already too high. D) pollution would still continue. E) the producers do not want the property right to their pollution. 111) Cap-and-trade refers […]
91) Suppose that the excess reserves in Toronto Dominion Bank increase by $700. Given a desired reserve ratio of 2.5% and no cash drain, the maximum change in deposits for the entire banking system would be A) $682.50. B) $700.00. C) $17 500.00. D) $28 000.00. E) $70 000.00. 92) Suppose that the excess reserves in Toronto Dominion Bank increase by $700. Given a […]
17.1 How the Fed Conducts Monetary Policy 1) The main goals of monetary policy include all of the following EXCEPT A) keeping the long term nominal interest rate equal to the real interest rate plus the inflation rate. B) keeping the inflation rate low. C) keeping the unemployment rate close to the natural unemployment rate. D) attaining the maximum sustainable growth of potential GDP. […]
16) The partial productivity of overhead resources can be measured by considering the cost driver as ________.
A) budgeted input
B) the denominator
C) the fixed input
D) the numerator
17) Which of the following statements is true of productivity measures?
A) Partial productivity and total factor productivity measures never work best together.
B) Partial productivity explicitly considers gains from using fewer physical inputs as well as substitution among inputs.
C) All productivity measures are physical measures lacking financial content.
D) Total factor productivity considers the trade-offs across various inputs based on current input prices.
18) ________ is an example of a total factor productivity measure.
A) The number of units produced per month
B) The number of units produced per machine hour
C) The number of units produced per labor hour
D) The number of units produced per dollar of input cost
19) Total factor productivity explicitly considers gains from using fewer physical inputs as well as substitution among inputs.
20) Partial productivity and total factor productivity measures work best together because both measures have the same kind of strengths and weaknesses.
21) One problem with total factor productivity revolves around the measurement of combined productivity of all inputs.
22) Productivity describes the relationship between different quantities of inputs consumed and the quantities of output produced.
23) Power Company has been unhappy with the financial accounting variances that its cost accounting system has been producing, because its managers believe that there is more to evaluating an operation than just examining accounting numbers. Therefore, it has started gathering data to assist in the examination of nonfinancial results of operations. The following information relates to the manufacture of remote control units for televisions, radios, and stereo components:
20112012
Remote control units produced and sold80,000100,000
Direct manufacture labor-hours12,00013,200
Direct materials used (sets)80,600100,500
Direct manufacture cost per hour$18$20
Direct materials cost per set$31$32
Required:
a.What is the partial productivity of direct materials for each year?
b.What is the partial productivity of direct manufacturing labor for each year?
c.Did each area improve between 2011 and 2012? Explain.
d.What will be the projected direct material and labor needs for 2013 if remote control units increase by 12,000 units, assuming Power Company applies the constant returns to scale technology?
24) Grader Company manufactures road graders. Because its managers all have engineering backgrounds, they prefer nonfinancial information for their decision-making models. Therefore, they require the accountants gather data to assist in the examination of nonfinancial results of operations. The following information relates to the manufacture of a paver:
20112012
Units produced and sold6,8005,600
Direct manufacture labor-hours136,000115,200
Direct materials used (tons)29,00024,400
Direct manufacture cost per hour$21$22
Direct materials cost per ton$431$443
Required:
a.What is the partial productivity for direct materials for each year?
b.What is the partial productivity for direct manufacturing labor for each year?
c.What is the total factor productivity for each year?
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