51) A 25.0 mL sample of H3PO4 requires 50.0 mL of 1.50 M NaOH for complete neutralization.  What is the molarity of the acid? H3PO4   +  3NaOH  → Na3PO4  +  3 H2O   A) 0.333 M B) 3.00 M C) 1.50 M D) 1.00 M E) 0.750 M 52) A 25.0 mL sample of H2SO4 requires 20.0 mL of 2.00 M KOH for complete […]

    63.Which of the following is not required for a firm to utilize its current weighted average cost of capital to evaluate a future project? a.the firm will not alter its capital structure b.the future project is very similar to the firm’s existing assets c.the future project has an expected life that is similar to its existing project lives d.neither a nor b is […]

    31. (p. 251) Considering the United Nations’ stages of economic development for classifying countries with respect to levels of industrialization, if a country is an industrialized country with high per capita income, the country is in which of the following groups?  A. PDCs (parallel-developed countries) B. LLDCs (least-developed countries) C. MDCs (more-developed countries) D. NICs (newly industrialized countries) E. RGCs (rapid-growth countries) 32. (p. 252) The United Nations classification of stages of economic development […]

  21) Refer to Figure 4-6. What is the area that represents producer surplus after the imposition of the price floor? A) A + B + E B) B + E  C) B + E + F D) B + C + D + E 22) Refer to Figure 4-6. What area represents the portion of consumer surplus that has been transferred to producer surplus […]

    31.Walsh Company purchased 1,000 shares of Pierce Company for $20 per share and classified the investment as trading securities. At the end of the year, the fair market value of the investment was $23 per share. How should Walsh recognize this change? a.Debit the investment account by $23,000. b.Credit the investment account by $3,000. c.Report an unrealized gain on the income statement. d.Show […]

  7.3   Long-Run Growth   1) We can safely say that total output can decrease if there is a(n) A) increase in the size of the labor force and an increase in the productivity of workers. B) increase in the size of capital and an increase in the productivity of machines. C) increase in the number of machines per worker. D) decrease in the number […]

    31) Household production, such as baking bread at home, is not included in GDP because it A) has better quality than the bread in the store. B) has lower quality than the bread in the store. C) does not add anything of value to GDP. D) does not involve a market transaction. E) is not really production.   32) The calculation of GDP […]

    31) The type of unemployment that arises from a decrease in real GDP is called A) frictional unemployment. B) structural unemployment. C) non-expansion unemployment. D) cyclical unemployment. E) downturn unemployment. 32) Which type of unemployment is the consequence of downturns in the business cycle? A) cyclical B) expansionary C) structural D) frictional E) natural   33) The unemployment that fluctuates over the business […]

  4.4   Externalities and Economic Efficiency 1) An externality is A) a benefit realized by the purchaser of a good or service. B) a cost paid for by the producer of a good or service. C) a benefit or cost experienced by someone who is not a producer or consumer of a good or service. D) anything that is external or not relevant to the […]

  16.2   Fiscal Stimulus 1) As contrasted to the mainstream view, Keynesian economists believe that ________ than mainstream economists believe. A) potential GDP is smaller B) the burden of government debt on future generations is larger C) the real GDP growth rate is higher D) fiscal stimulus is weaker E) the multiplier effect is larger 2) As contrasted to the Keynesian view, mainstream economists believe […]