that disposable income is less than zero. 7. At the point where the consumption schedule intersects the 45-degree line: A) the MPC equals 1. B) the APC is zero. C) saving equals income. D) saving is zero. 8. The saving schedule is such that as aggregate income increases by a certain amount saving: A) increases by the same amount as
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greater the quantity of product the company is willing to supply. a. True 7. _____ tracks and accumulates business function costs across the entire value chain from a product’s initial R&D to its final customer service and support. a. Life-cycle costing 8. Invested $3‚500‚000. $250‚000 annually. Sales of 800 at $1‚100.00 each a. Target Rate of Return =250000/3500000 = 7.14% 9. Companies operating in competitive markets much NOT accept the prices set by the market. a. False 10. Sales-order cost are a
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Chapter 7 Competition and Policies towards Monopolies and Oligopolies‚ Privatization and Deregulation Suggested Answers to the Review Questions I. Questions 1. Pure monopoly refers to the case where: a) there is a single firm selling the commodity‚ b) there are no close substitutes for the commodity‚ and c) entry into the industry is very difficult or impossible. If we further assume that the monopolist has perfect knowledge of present and future prices and costs‚ we have perfect monopoly
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Name __________________________________________________________ Chapter 2 – Quick Quiz 1 1. A(n) _______________ is an organized system of assumptions and principles that purports to explain a specified set of phenomena. a. theory c. operational definition b. hypothesis d. experiment 2. An ideal scientist should: a. not express skepticism of new ideas. c. not support falsifiable theories. b. rely on scientific intuition. d. be willing to make “risky predictions.” 3. An advantage
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Chapter 7 1. According to Karl Marx social class depends on a factor of a person’s relationship to the means of production. He distinguished two classes: owner of the means of production (bourgeoisie) and a worker who works on these factories‚ tools and land‚ proletariat. Marx believed that person’s life is shaped only with regard of what he owns and what he works on. Max Weber believed that social class is made up of three elements: property‚ power and prestige. According to Weber‚ property is
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Chapter Five Summary There are comparatively few rules to violate‚ and people are socialized into long standing traditions in a communal society. Because associated societies are complex‚ they require many laws and rules. Also‚ they are impersonal‚ and tradition is not adequate to prevent deviance. However‚ many associational societies are diverse‚ and the mix of ethnicities‚ language‚ and regional differences requires coordination‚ which in turn requires laws and rules. The focus in an associational
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of the borrower and its past loan repayment performance. The term structure of interest rates is a market-wide factor and is likely to influence the base rate‚ but it should not influence the margin that applies to a borrower‚ so C is the correct answer. MORE: Financial Institutions‚ Instruments and Markets 5/e‚ pp. 390–391. The interest rate charged on a term loan will also depend on the following: • The credit risk of the borrower. This is the perceived creditworthiness of the borrower. A lender
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Oxygen production d) cell type e) color 17) You have isolated a gram-positive rod. What test will you perform next? a) gram stain b) lactose fermentation c) endospore stain d) flagella stain e) DNA fingerprint Short answers. Fill in the blanks or give a short answer for the following. 1) Your field of view through a microscope is 0.3 millimeters. If you have a worm that takes up half of your field of view it would be ______ micrometers.
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STAT ACTIVITY 1. A multiple-choice quiz has 15 questions‚ each with 4 possible answers of which only 1 is the correct answer. What is the probability that sheer guesswork yields exactly 10 correct answers at least 1 correct answer at most 1 correct answers 8 to 10 correct answers Mean and variance of the r.v.X=no.of correct answers 2. Suppose that airplane engines operate independently in flight and fail with probability 1/5. Assuming that a plane makes a safe flight if at
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Thinking Test 1. Why bother with critical thinking. - Three reasons; 1-Avoid being led into error. 2- Develop skills to improve our own skill of persuasion. 3-The pursuit of truth. 2. What is a conjunction fallacy? - Assuming only one of any given answers must be correct. 3. What is the purpose of an argument (2 points.) 1-To provide others with reasons for your belief. 2-To allow others to evaluate your reasons‚ and to allow them to accept or reject your claims. 4. Philosophers are concerned with
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