Chapter 14 Firms in Competitive Markets Multiple Choice 1. A FIRM HAS MARKET POWER IF IT CAN |a. |maximize profits. | |b. |minimize costs. | |c. |influence the market price of the good it sells. | |d. |hire as many
Premium Perfect competition Economics
CHAPTER 12 & 14 REVIEW INCOME DISTRIBUTION‚ POVERTY‚ AND DISCRIMINATION Wealth: Income: What you own minus what you includes pay checks or wages‚ gov check‚ or Owe (includes hat you have in the dividend check or profit from selling an Bank and assets you own) investment (can have neg. income) Lorenz Curve= a graph of the actual cumulative distribution of income compared to a perfectly equal cumulative distribution of income *for the US‚ income is NOT equally distributed
Premium Externality Welfare economics Market failure
Chapter 14 discusses the Social Judgment Theory which was developed by Carolyn Sherif‚ Muzafer Sherif‚ and Carl Hovland. They believed that when an individual gets a new idea they weigh it against old ideas they currently had to decide if the information is valid. The most difficult to get people change their mind are the topics of religion‚ sex‚ and politics. When these topics are brought up people have the tendency to become very protective about what they believe in. When I was teaching a class
Premium Sociology Psychology Morality
Output c. Per Capita Income d. National Income Accounting 5. 6. The table shows some data from a country’s national accounts for one year 7. 8. $ millions 9. Consumers’ expenditure 10. 25 000 11. Gross investment 12. 5 000 13. Government consumption 14. 5 000 15. Exports 16. 4 000 17. Imports 18. 6 000 19. Taxes on expenditure 20. 4 000 21. Subsidies 22. 1 000 23. Net property income from abroad 24. 1 000 25. Depreciation 26. 2 000 27. 28. What is gross national product at market prices? a. $32 000
Premium Inflation Unemployment Economics
Chapter 14 – The Congress‚ the President‚ and the Budget * Introduction The battle of the budget is at the center of American politics. Two questions are central to public policy: Who bears the burdens of paying for government? Who receives the benefits? The public budget is a policy document allocating burdens (taxes) and benefits (expenditures). A budget deficit occurs when expenditures exceed revenues in a fiscal year. Americans want the government to balance the budget‚ maintain or increase
Premium United States President of the United States Federal government of the United States
Human Resource Management‚ 12e (Dessler) Chapter 2 Equal Opportunity and the Law 1) Which Amendment to the U.S. Constitution states that "no person shall be deprived of life‚ liberty‚ or property‚ without due process of the law"? A) First Amendment B) Fifth Amendment C) Tenth Amendment D) Thirteenth Amendment E) Fourteenth Amendment Answer: B Explanation: The Fifth Amendment to the U.S. Constitution (ratified in 1791) states that "no person shall be deprived of life‚ liberty‚
Premium Equal Employment Opportunity Commission Discrimination Employment
Chapter Fourteen Review Questions: 1. Bill of Lading- Is a written contract between the carrier and the seller. It is prepared at the time of shipping goods to a customer. On the Bill of Lading one will find a description of the goods‚ quantities shipped‚ and any other relevant data. Once goods have been shipped‚ the bill of lading generates related sales invoices as well as the entry in the sales journal. An original copy of the bill of lading is sent to the customer while the rest are retained
Premium Invoice Accounts receivable
After identifying a significant related party transaction outside the entity’s normal course of business‚ an auditor should Evaluate the business purpose of the transaction. In auditing related party transactions‚ an auditor ordinarily places primary emphasis on The adequacy of the disclosure of the related party transactions. Subsequent to issuing a report on audited financial statements‚ a CPA discovers that the accounts receivable confirmation process omitted a number of accounts that are
Premium Auditing Financial audit Audit
Geological Time Unit 2 Test /44 Multiple choice: Choose the best answer for each question /13 According to Earth scientists‚ how old is the Earth? 4.6 million years 3.5 million years 4.6 billion years 3.5 billion years When did oxygen first form in the atmosphere according to Earth scientists? 4.6 billion years ago 3.5 billion years ago 2 billion years ago 1 billion years ago Which life form came first according to the Geological Time Scale
Premium Fossil Geology Geologic time scale
CONCORDIA UNIVERSITY BUSINESS LAW AND ETHICS: Midterm exam Total Value: 25 Marks Date: September 30th‚ 2009 Instructor: Benito Aloe Time: 40 minutes Name: _____________________Signature: ___________________ID No:________ Course materials permitted: None. Concordia Academic Code of Conduct will be strictly enforced. unless otherwise indicated. Choose the most appropriate‚ accurate or correct answer. Answers on questionnaire will not be corrected. At the end of the exam
Premium Affirmative action Discrimination