1. In making a decision about whether to increase its advertising budget the firm management should not consider a. the added revenue from increased sales b. the added cost of producing more goods for sale. c. interest payments on the firm’s loan. d. the cost of increased advertising. 2. When marginal revenue is positive‚ a. demand is elastic. b. marginal revenue is greater than price. c. decreasing price will decrease total revenue. d. both b and c 3. When Sonoma Vineyards
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ACTG381 Sample Midterm Midterm 1 Name:_____________________________________________ Part 1: Multiple Choice (25 questions @ 3 pts ea. Suggested time 50 minutes) Use a scantron to fill in the letter corresponding to the “best” answer. 1. Which of the following properly describes a deferral? a. Cash is received after revenue is earned. b. Cash is received before revenue is earned. c. Cash is paid after expense is incurred. d. Cash is paid in the
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ECON1102 MACROECONOMICS 1 Session 2‚ 2012 Tutorial Test (Week 17-21 September) INSTRUCTIONS 1. Tutorial tests will be constructed from the following pool of short-answer questions. 2. Each Tutorial test will be comprised of a sufficient number of short-answer questions to add-up to a total of 20 marks. 3. The marks for each question provide an indication of how much is required to answer the question. 4. Tutorial tests may contain questions on different topics. 5. The set of short-answer
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The Massachusetts Bay Colony was an English settlement on the east coast of North America (Massachusetts Bay) in the 17th century‚ in New England‚ situated around the present-day cities of Salem and Boston. The territory administered by the colony included much of present-day central New England‚ including portions of the U.S. states of Massachusetts‚ Maine‚ New Hampshire‚ Rhode Island‚ and Connecticut. Territory claimed but never administered by the colonial government extended as far west as the
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resented it. [ 3 ]. Explain why Britain adopted policies of tighter political control and higher taxation of Americans after 1763 and how these policies sparked fierce colonial resentment. [ 4 ]. Describe the first major new British taxes on the colonies and how colonial resistance forced repeal of all taxes‚ except the tax on tea‚ by 1770. [ 5 ]. Explain how colonial agitators kept resistance alive from 1770–1773. [ 6 ]. Indicate why the forcible importation of taxable British tea sparked the
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in the colonies. Slowly‚ England rose to compete in this struggle for colonies‚ settling North America. Although New England and the Chesapeake regions were both settled by Englishmen‚ these two colonies evolved into completely different colonies as a result of their many differences of opinion starting with their reasons for settling the land‚ spreading to create two completely different societies. From the time each ship set off from England‚ both the New England and Chesapeake colonies were bound
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Massachusetts Bay Colony government was able to be‚ at least partially‚ simultaneously theocratic‚ democratic‚ oligarchic‚ and authoritarian. It was able to be partly theocratic because of the doctrine of the covenant‚ which stated that the whole purpose of government was to enforce God’s laws. God’s laws applied to everyone‚ even nonbelievers. Everyone also had to pay taxes for the government-supported church. This meant that religious leaders held enormous power in the Massachusetts Bay Colony. They were
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Chapter 17 Notes I. Comparing Atlantic Revolutions A. The North American Revolution‚ 1775-1787 The Declaration of Independence in 1776 ‚ resulted in an unlikely military victory by 1781 ‚ and generated a federal constitution in 1787 ‚ joining thirteen formerly separate colonies into a new nation. B. The French Revolution‚ 1789-1815 That revolution was quite different from its North American predecessor. Whereas the American Revolution expressed the tensions of a colonial relationship with a
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During the time when the colonies began to form there were many religious groups present‚ but perhaps one of the most prevalent of these groups were the Puritans. Puritanism had been around since the reign of Queen Elizabeth‚ but in the colonies they had the chance to get away from the different restrictions they had faced prior to this time. What made Puritans unique even in the colonies was the fact that they believed everyone had to make his or her own profession of faith‚ and they held that any
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two colonies in North America of the East Coast. The colonies were known as the New England colonies and the Chesapeake colonies. The New England colonies included of Connecticut‚ Colony of Rhode Island‚ Providence Plantations‚ Massachusetts and Province of New Hampshire. The Chesapeake colonies consisted of Virginia and Maryland. These colonies were settled in by Englishmen with similar resolutions and ethnicities and faced similar obstacles. But these colonies became two distinct colonies with
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