Archives: Quiz
Business Development Chapter 23 In 2009, the price of corn was $2 per bushel and the price
37. If nominal GDP is $10 trillion and real GDP is $12 trillion, then the GDP deflator is a. 83.33, and this indicates that the price level has decreased by 16.67 percent since the base year. b. 83.33, and this […]
Business Development Chapter 23 Lo Examine The Economic Indicator GDP national
1. If total spending rises from one year to the next, then a. the economy must be producing a larger output of goods and services. b. goods and services must be selling at higher prices. c. either the economy must […]
Business Development Chapter 23 Given data on a country’s expenditures
d. $4400 ANSWER: a POINTS: 1 DIFFICULTY: Moderate REFERENCES: The Components of GDP LEARNING OBJECTIVES: ECON.MANK.15.113.28d – LO: Given data on a country’s expenditures, calculate GDP. TOPICS: DISC:Measuring Output KEYWORDS: BLOOM’S: Application DATE CREATED: 9/19/2016 1:11 PM DATE MODIFIED: 9/21/2016 […]
Business Development Chapter 23 The Economy Talika stan 2015 Consumption Was
a. a transfer payment. b. consumption. c. investment. d. None of the above is correct. ANSWER: a POINTS: 1 DIFFICULTY: Easy REFERENCES: The Components of GDP LEARNING OBJECTIVES: ECON.MANK.15.113.28c – LO: Given a scenario, determine which expenditure category of GDP […]
Business Development Chapter 23 GDP Only Item 2 Included GDP And
1. In the equation Y = C + I + G + NX, a. Y represents the economy’s total expenditure. b. C represents household expenditures on services and durable goods. c. all of the variables are always positive numbers. d. […]
Business Development Chapter 23 Lo Examine The Economic Indicator Gdpnational Standards
DIFFICULTY: Moderate REFERENCES: The Measurement of GDP QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: ECON.MANK.15.112.28 – LO: Examine the economic indicator of GDP NATIONAL STANDARDS: United States – BUSPROG: Analytic TOPICS: DISC:Measuring Output Gross National Product KEYWORDS: BLOOM’S: […]
Business Development Chapter 23 The transactions just described contribute how much to
LEARNING OBJECTIVES: ECON.MANK.15.112.28 – LO: Examine the economic indicator of GDP NATIONAL STANDARDS: United States – BUSPROG: Analytic TOPICS: DISC:Measuring Output GDP KEYWORDS: BLOOM’S: Application DATE CREATED: 9/19/2016 1:11 PM DATE MODIFIED: 9/21/2016 1:41 PM CUSTOM ID: 070.23.2 – MC […]
Business Development Chapter 23 Taking these four transactions into account
ANSWER: c POINTS: 1 DIFFICULTY: Moderate REFERENCES: The Measurement of GDP QUESTION TYPE: Multiple Choice HAS VARIABLES: False LEARNING OBJECTIVES: ECON.MANK.15.112.28 – LO: Examine the economic indicator of GDP NATIONAL STANDARDS: United States – BUSPROG: Analytic TOPICS: DISC:Measuring Output KEYWORDS: […]
Business Development Chapter 23 Gasoline Considered Final Good Sold Gasoline
1. GDP is defined as the a. value of all goods and services produced within a country in a given period of time. b. value of all goods and services produced by the citizens of a country, regardless of where […]
Business Development Chapter 23 Money continuously flows from households to firms
1. Gross domestic product measures a. income and expenditures. b. income but not expenditures. c. expenditures but not income. d. neither income nor expenditures. ANSWER: a POINTS: 1 DIFFICULTY: Moderate REFERENCES: The Economy’s income and Expenditure LEARNING OBJECTIVES: ECON.MANK.15.111.28 – […]
Business Development Chapter 23 What The Impact Foreign Competition The Us
1. Macroeconomists study a. the decisions of individual households and firms. b. the interaction between households and firms. c. economy-wide phenomena. d. regulations imposed on firms and unions. ANSWER: c POINTS: 1 DIFFICULTY: Easy REFERENCES: Measuring a Nation’s Income QUESTION […]
Business Development Chapter 23 Given data on a country’s real and nominal
45. If consumption is $7000, exports are $600, government purchases are $2000, government transfers are $900, imports are $800, and investment is $1000, then GDP is $9,800. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: ECON.MANK.15.116.28d […]
Business Development Chapter 23 The goal of macroeconomics is to explain the economic
1. In years of economic contraction, firms throughout the economy increase their production of goods and services, employment rises, and jobs are easy to find. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: ECON.MANK.15.110.38 – LO: […]
Business Development Chapter 12 Which The Following Important Reason For
CUSTOM ID: 055.12.1 – MC – MANK08 56. Medicaid is a. the government’s health plan for the elderly. b. the government’s health plan for the poor. c. another name for Social Security. d. Both a and c are correct. ANSWER: […]
Business Development Chapter 12 In 2011, the average American paid approximately how
1. Which of the following is true about the percent of total income all levels of government in the U.S. take as taxes? a. In 1902 the government collected about 7 percent of total income. In recent years, it collected […]
Business Development Chapter 8 Given Supply And Demand Graph
Subjective Short Answer 1. In terms of gains from trade, why is it true that taxes cause deadweight losses? ANSWER: Taxes cause deadweight losses because they prevent buyers and sellers from realizing some of the gains from trade. DIFFICULTY: Easy […]
Accounting Chapter 23 Discuss the issues and complications that may arise
Copyright © 2015 Pearson Education Objective 23.5 1) Inflation clouds the real economic returns on an asset and ________. A) makes variable-cost-based ROI higher B) makes historical-cost-based ROI lower. C) makes historical-cost-based ROI higher D) makes variable-cost-based ROI lower Answer: […]
Business Development Chapter 7 Sellers whose costs are greater than the equilibrium price are represented
b. A+B+C. c. D+H+F. d. A+B+C+D+H+F. ANSWER: b DIFFICULTY: Moderate LEARNING OBJECTIVES: ECON.MANK.236 – Given a supply and demand graph, indicate the area that represents consumer surplus. TOPICS: Consumer surplus Welfare economics KEYWORDS: BLOOM’S: Application CUSTOM ID: 063.07.3 – MC […]
Accounting Chapter 23 Compute Each Divisions Economic Value-Added Rank
Copyright © 2015 Pearson Education 50) Return on investment is an accounting measure of income minus a dollar amount for required return on an accounting measure of investment. Answer: FALSE Explanation: Return on investment is an accounting measure of income […]
Business Development Chapter 7 Total surplus in a market is equal to
1. Which tools allow economists to determine if the allocation of resources determined by free markets is desirable? a. profits and costs to firms b. consumer and producer surplus c. the equilibrium price and quantity d. incomes of and prices […]
Accounting Chapter 23 Explanation Roi Net Income Assets Net Income
Copyright © 2015 Pearson Education Cost Accounting, 15e Global Edition (Horngren/Datar/Rajan) Chapter 23 Performance Measurement, Compensation, and Multinational Considerations Objective 23.1 1) A report that measures financial and nonfinancial performance measures for various organization units in a single report is […]
Business Development Chapter 7 Suppose the market starts out in equilibrium with
90. Refer to Figure 7-16. If the price of the good is $500, then producer surplus amounts to a. $450. b. $575. c. $700. d. $800. ANSWER: c DIFFICULTY: Moderate LEARNING OBJECTIVES: ECON.MANK.194 – Given a scenario describing sellers’ costs, […]
Accounting Chapter 22 Executive Division Have The New Business Should
Copyright © 2015 Pearson Education 3) Crush Company makes internal transfers at 160% of full cost. The Soda Refining Division purchases 40,000 containers of carbonated water per day, on average, from a local supplier, who delivers the water for $40 […]
Business Development Chapter 7 Suppose producer surplus is larger than C
CUSTOM ID: 058.07.2 – MC – MANK08 Figure 7-11 59. Refer to Figure 7-11. If the supply curve is S, the demand curve is D, and the equilibrium price is $100, what is the producer surplus? a. $625 b. $1,250 […]
Accounting Chapter 22 Assembly Manager Probably Not Happy Because The
Copyright © 2015 Pearson Education 16) If the Polishing Division sells 100,000 pairs of shoes at a price of $120 a pair to customers, what is the operating income of both divisions together? A) $8,800,000 B) $6,800,000 C) $6,000,000 D) […]
Business Development Chapter 7 Allen tutors in his spare time for extra income
1. A seller’s opportunity cost measures the a. value of everything she must give up to produce a good. b. amount she is paid for a good minus her cost of providing it. c. consumer surplus. d. out of pocket […]
Accounting Chapter 22 Its Just That Centralized Organization Each Manager
Copyright © 2015 Pearson Education Cost Accounting, 15e Global Edition (Horngren/Datar/Rajan) Chapter 22 Management Control Systems, Transfer Pricing, and Multinational Considerations Objective 22.1 1) Which of the following is a characteristic of a management control system? A) It aids and […]
Business Development Chapter 7 If the price of the good is $100, then consumer surplus
ANSWER: d DIFFICULTY: Challenging LEARNING OBJECTIVES: ECON.MANK.014 – Assess a market’s efficiency. TOPICS: Consumer surplus Welfare economics KEYWORDS: BLOOM’S: Application CUSTOM ID: 110.07.1 – MC – MANK08 111. Motor oil and gasoline are complements. If the price of motor oil […]
Accounting Chapter 21 A disadvantage of the IRR is that the results are
Copyright © 2015 Pearson Education 14) Gavin and Alex, baseball consultants, are in need of a microcomputer network for their staff. They have received three proposals, with related facts as follows: Proposal A Proposal B Proposal C Initial investment in […]
Business Development Chapter 7 Suppose Televisions Are Normal Good And
Welfare economics KEYWORDS: BLOOM’S: Application CUSTOM ID: 061.07.1 – MC – MANK08 Table 7-9 The only four consumers in a market have the following willingness to pay for a good: Buyer Willingness to Pay Ashleigh $12 Barb $15 Carolyn $19 […]
Accounting Chapter 21 At the end of eight years, it will have a salvage
Copyright © 2015 Pearson Education 48) If internal rate of return is less than required rate of return, the net present value is positive. Answer: FALSE Explanation: If internal rate of return is less than required rate of return, the […]
Business Development Chapter 7 Carlos And Quiana Purchase The Good 45
1. The maximum price that a buyer will pay for a good is called a. consumer surplus. b. willingness to pay. c. equilibrium. d. efficiency. ANSWER: b DIFFICULTY: Easy LEARNING OBJECTIVES: ECON.MANK.014 – Assess a market’s efficiency. TOPICS: Consumer theory […]
Accounting Chapter 21 Application Knowledge Using The Net Present Value
Copyright © 2015 Pearson Education Cost Accounting, 15e Global Edition (Horngren/Datar/Rajan) Chapter 21 Capital Budgeting and Cost Analysis Objective 21.1 1) Which of the following involves the process of making decisions for significant financial investments in projects to develop new […]
Business Development Chapter 7 Cognero page 2b Markets Are Usually Good Way
1. Which of the following statements is correct? a. Buyers always want to pay less and sellers always want to be paid more. b. Buyers always want to pay less and sellers always want to be paid less. c. Buyers […]
Accounting Chapter 20 Control Account Debited The Materials And In process
Copyright © 2015 Pearson Education 7) Which of the following statements is true of just-in-time production systems? A) In a just-in-time production system, a master production schedule specifies the quantity and timing of each item to be produced. B) Sales […]
Business Development Chapter 7 Consumer surplus can be measured as the area between
True / False 1. Welfare economics is the study of the welfare system. a. True b. False ANSWER: False DIFFICULTY: Easy LEARNING OBJECTIVES: ECON.MANK.012 – Apply basic, economic principles of individual decision making that determine how an economy generally works. […]
Accounting Chapter 20 If they are costs that will change with the quantity
Copyright © 2015 Pearson Education 44) Picture Company has one particular product that has an annual demand of 5,000 units. Total manufacturing costs per unit total $50. Ordering costs for the product total $60 per purchase order. Currently, the carrying […]
Business Development Chapter 6 If the government set a price ceiling at $9
Subjective Short Answer 1. Define a price ceiling. ANSWER: A price ceiling is a legal maximum on the price at which a good can be sold. DIFFICULTY: Easy LEARNING OBJECTIVES: ECON.MANK.005 – Analyze the effects of price controls on market […]
Accounting Chapter 20 Opportunity costs are not recorded in financial
Copyright © 2015 Pearson Education Cost Accounting, 15e Global Edition (Horngren/Datar/Rajan) Chapter 20 Inventory Management, Just-in-Time, and Simplified Costing Methods Objective 20.1 1) Among different types of costs associated with inventory, the costs of obtaining purchase approvals are ________. A) […]
Business Development Chapter 6 If a tax is imposed in this market, then the
c. (i) and (iii) only d. (i) and (iv) only ANSWER: a DIFFICULTY: Moderate LEARNING OBJECTIVES: ECON.MANK.025 – Compare the distribution of the tax burden among buyers and sellers with differing elasticities. TOPICS: Taxes KEYWORDS: BLOOM’S: Comprehension CUSTOM ID: 172.06.2 […]
Accounting Chapter 19 The Photo Production Station Limited The Speed
Copyright © 2015 Pearson Education Answer the following questions using the information below: The tool crib at a large manufacturing company is responsible for providing tools to the factory workers on demand. The tool crib has a variable demand. Historically, […]
Business Development Chapter 6 Buyers Good Bear The Larger Share
CUSTOM ID: 130.06.2 – MC – MANK08 131. Refer to Figure 6-27. Suppose a tax of $6 per unit is imposed on this market. How much will buyers pay per unit after the tax is imposed? a. $16 b. between […]
Accounting Chapter 19 They Focus Managers Attention How Poor Quality
Copyright © 2015 Pearson Education Answer the following questions using the information below: Cysco Corp has a budget of $1,200,000 in 2015 for prevention costs. If it decides to automate a portion of its prevention activities, it will save $100,000 […]
Business Development Chapter 6 If a tax is levied on the buyers of dog food
73. Refer to Figure 6-18. The price that buyers pay after the tax is imposed is a. $8. b. $10. c. $16. d. $24. ANSWER: d DIFFICULTY: Moderate LEARNING OBJECTIVES: ECON.MANK.231 – Given a supply and demand graph, determine the […]
Accounting Chapter 19 Eight quarts of varnish were used, on average, for each table
Copyright © 2015 Pearson Education Cost Accounting, 15e Global Edition (Horngren/Datar/Rajan) Chapter 19 Balanced Scorecard: Quality and Time Objective 19.1 1) Which of the following is true of ISO 9000? A) It is a quality management system comprising different process […]
Business Development Chapter 6 Mank When Tax Placed The
1. If the government removes a tax on a good, then the quantity of the good sold will a. increase. b. decrease. c. not change. d. All of the above are possible. ANSWER: a DIFFICULTY: Moderate LEARNING OBJECTIVES: ECON.MANK.099 – […]
Accounting Chapter 18 The original cost of the 40 orders totaled $700
Copyright © 2015 Pearson Education 9) In job-costing systems, abnormal spoilage costs are considered to be inventoriable costs and normal spoilage costs are not considered to be inventoriable costs and are written off as costs of the accounting period in […]
Accounting Chapter 18 Cost Shirts At inspection Point Equals 9500000 Calculate
41 46) Weather Instruments assembles products from component parts. It has two departments that process all products. During January, the beginning work in process in the assembly department was half complete as to conversion and complete as to direct materials. […]
Business Development Chapter 6 Which of the following price ceilings would be binding
Price floors KEYWORDS: BLOOM’S: Application CUSTOM ID: 123.06.1 – MC – MANK08 Figure 6-11 124. Refer to Figure 6-11. If the government imposes a price ceiling at $6, it would be a. binding if market demand is Demand A or […]
Accounting Chapter 18 What Costs Would Associated With Normal
Copyright © 2015 Pearson Education 21) What costs would be associated with normal and abnormal spoilage, respectively, using the FIFO method of process costing? A) $5,890; $9,133 B) $1,440; $4,800 C) $4,800; $2,640 D) $10,560; $2,640 21 Answer: D Explanation: […]