Archives: Quiz
Accounting Chapter 5 Hughes Aircraft sold a four-passenger airplane
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 154) A note receivable is reported in the balance sheet: A) Always as a current asset. B) Always as a […]
Economics Chapter 14 Would the maximum loan that a bank can make
Copyright © 2017 Pearson Education, Inc. 77) What is the principle monetary policy tool used by the Fed. Why? Answer: The tool that the Fed primarily uses is open market operations. There are three reasons. First, because the Fed is […]
Economics Chapter 14 A central bank can help stop a bank panic by
Copyright © 2017 Pearson Education, Inc. 30) Money market mutual funds sell shares to investors and use the money to buy A) mortgage-backed securities. B) foreign currency. C) short-term securities. D) overseas assets through foreign direct investment. Answer: C Diff: […]
Accounting Chapter 5 A company collects a customer’s account within
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 69) Garber Plumbers offers a 20% trade discount when providing $2,000 or more of plumbing services to its customers. In […]
Economics Chapter 14 Therefore Required Reserves Equal
Copyright © 2017 Pearson Education, Inc. 48) Suppose a transaction changes the balance sheet of Wells Fargo bank as indicated in the following T- account. Assets Liabilities Reserves + $1,000 Deposits + $1,000 At this point, what percentage of the […]
Accounting Chapter 5 Trade discounts represent a discount offered to the purchaser
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Financial Accounting, 5e (Spiceland) Chapter 5 Receivables and Sales 1) Credit sales transfer products and services to a customer today […]
Economics Chapter 14 Simple Deposit Multiplier Recurring learning
Copyright © 2017 Pearson Education, Inc. 16) Refer to Scenario 14-1. M2 in this simple economy equals A) $3,000. B) $8,000. C) $14,000. D) $21,000. Answer: D Diff: 2 Page Ref: 863/481 Topic: M2 *: Recurring Learning Outcome: Macro-11: Identify […]
Accounting Chapter 4 Control Environment Overall Top-to-bottom Attitude The Company
93 P.O. Box 123878 Watonga, OK 73772 (580) 377-OKIE Reliable Union You Can Bank On Us Member FDIC Account Holder: Jim Incorporated 519 Main Street Watonga, OK 73772 Account Number: Statement Date: 2252790471 July 31, 2021 Beginning Deposits and Withdrawals […]
Economics Chapter 14 Define macroeconomics and identify its basic concerns
Copyright © 2017 Pearson Education, Inc. Macroeconomics 2017 (Hubbard) Chapter 14 Money, Banks, and the Federal Reserve System 14.1 What Is Money, and Why Do We Need It? 1) Your roommate argues that he can think of no better situation […]
Accounting Chapter 4 Determine the amount of operating cash flows the company
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 210) A company establishes a $300 petty cash fund on August 3 to pay for minor cash expenditures. The fund […]
Economics Chapter 13 Given the economy is at point A in year 1, what will happen
Copyright © 2017 Pearson Education, Inc. 4) Refer to Figure 13-4. Given the economy is at point A in year 1, what is the inflation rate between year 1 and year 2? A) 0.9% B) 1.8% C) 2.7% D) 3.0% […]
Economics Chapter 13 A decrease in aggregate demand causes a decrease in
Copyright © 2017 Pearson Education, Inc. 37) There has been a decrease in investment. As a result, real GDP will ________ in the short run, and ________ in the long run. A) increase; increase further B) increase; decrease to its […]
Economics Chapter 13 Use The Aggregate Supply aggregate
Copyright © 2017 Pearson Education, Inc. 45) The long-run aggregate supply curve shows the relationship between A) short-run aggregate supply and short-run aggregate demand. B) the price level and quantity of real GDP supplied. C) the real interest rate and […]
Economics Chapter 13 United States Search For Temporary Work in Their
Copyright © 2017 Pearson Education, Inc. 68) A decrease in disposable income will shift the aggregate demand curve to the left. Answer: TRUE Diff: 2 Page Ref: 819/437 Topic: Aggregate Demand *: Recurring Learning Outcome: Macro-6: Explain the aggregate supply-aggregate […]
Accounting Chapter 4 The Sarbanes-Oxley Act is also known as Generally
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Financial Accounting, 5e (Spiceland) Chapter 4 Cash and Internal Controls 1) Managers of the company act as stewards or caretakers […]
Economics Chapter 13 Macro 7 Use The Aggregate Supply aggregate Demand Model
Copyright © 2017 Pearson Education, Inc. Macroeconomics 2017 (Hubbard) Chapter 13 Aggregate Demand and Aggregate Supply Analysis 13.1 Aggregate Demand 1) The basic aggregate demand and aggregate supply curve model helps explain A) short-term fluctuations in real GDP and the […]
Accounting Chapter 3 No reproduction or distribution without the prior
141 Requirement 4 FastTrack Racing Unadjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash $93,900 Accounts Receivable 43,600 Supplies 12,700 Land 115,800 Accounts Payable $16,300 Salaries Payable 0 Interest Payable 0 Notes Payable 30,500 Common Stock 132,000 Retained Earnings […]
Economics Chapter 12 The economy is not at full employment.
Copyright © 2017 Pearson Education, Inc. Table 12-13 Real GDP Consumption Planned Investment Government Purchases Net Exports $500 $400 $100 $150 –$50 600 450 100 150 –50 700 500 100 150 –50 800 550 100 150 –50 43) Refer to […]
Accounting Chapter 3 Pay Salaries For The Current Year 36000
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 121 Answer: Follette’s Accessories Income Statement For the year ended December 31, 2021 Service revenue $63,000a Expenses: Salaries 24,800b Supplies […]
Economics Chapter 12 GDP And Consumption That Does Not
Copyright © 2017 Pearson Education, Inc. 42) Use a 45-degree diagram to illustrate macroeconomic equilibrium. Make sure your diagram shows the aggregate expenditure function. Include in your diagram a point where aggregate expenditure is greater than GDP and a point […]
Economics Chapter 12 Inventories Have Risen Above Their Desired Level
Copyright © 2017 Pearson Education, Inc. 78) Which of the following will increase aggregate expenditure in the United States? A) an increase in the value of the dollar B) an increase in the price level C) an increase in interest […]
Economics Chapter 12 Which The Smallest Component Aggregate Expenditure Planned
Copyright © 2017 Pearson Education, Inc. 4) ________ in taxes will decrease consumption spending, and ________ in transfer payments will increase consumption spending. A) An increase; an increase B) A decrease; an increase C) An increase; a decrease D) A […]
Accounting Chapter 3 The ending balance in the Retained Earnings account is
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 154) If a company incorrectly records a payment as an expense instead of an asset, how will this error affect […]
Economics Chapter 12 Recurring learning Outcome Macro 8 Investigate The Relationship Between
Copyright © 2017 Pearson Education, Inc. Macroeconomics 2017 (Hubbard) Chapter 12 Aggregate Expenditure and Output in the Short Run 12.1 The Aggregate Expenditure Model 1) The aggregate expenditure model focuses on the relationship between ________ and ________ in the short […]
Economics Chapter 11 Growth Policies Recurring learning Outcome
75 64) Would you expect to see higher or lower growth rates for countries that start out with a relatively low level of real GDP per capita? Explain using the concept of “catch-up” and support your answer with a graph. […]
Economics Chapter 11 Recurring learning Outcome Macro 16 Discuss The Obstacles Development
Copyright © 2017 Pearson Education, Inc. 23) Which of the following best explains why productivity growth in the United States has been faster than in other leading industrialized nations? A) There are fewer government regulations in the United States regarding […]
Accounting Chapter 3 According to the revenue recognition principle,
Copyright © 2019 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Financial Accounting, 5e (Spiceland) Chapter 3 The Accounting Cycle: End of the Period 1) Accrual-basis accounting involves recording revenues when […]
Economics Chapter 11 Which The following Not One Those Reasons Smaller
Copyright © 2017 Pearson Education, Inc. 89) Describe the process of “creative destruction” using a specific example. Answer: Creative destruction, based on the ideas of Joseph Schumpeter, describes the process whereby older products are driven out of the market by […]
Accounting Chapter 2 Pay $3,200 rent for the month of April
99 232) Reed owns a consulting services company, while Sophie operates an auto maintenance shop. For the month of June, the following transactions occurred. June 2 Sophie decides that she would like consulting services at the end of the month […]
Economics Chapter 11 GDP Per Worker This phenomenon Referred Asa Rising
Copyright © 2017 Pearson Education, Inc. Figure 11-2 25) Refer to Figure 11-2. Based on the per-worker production function above, if the economy raises capital per hour worked from $35,000 to $40,000, by how much will real GDP per hour […]
Economics Chapter 11 Analytical Thinking36 Most The Countries Africa Are
Copyright © 2017 Pearson Education, Inc. Macroeconomics 2017 (Hubbard) Chapter 11 Long-Run Economic Growth: Sources and Policies 11.1 Economic Growth over Time and around the World 1) One of the primary reasons that Mexico has experienced relatively low rates of […]
Economics Chapter 10 During the expansion phase of the business cycle
Copyright © 2017 Pearson Education, Inc. 107) Explain and show graphically how government deficits can “crowd out” private investment. 61 Answer: When the government runs a deficit public saving falls, reducing the supply of loanable funds and shifting the supply […]
Economics Chapter 10 An increase in government purchases, ceteris paribus
Copyright © 2017 Pearson Education, Inc. 50) A financial intermediary’s main function is to match ________ with excess funds to ________ with a shortage of funds. A) savers; borrower B) borrower; savers C) governments; households D) firms; insurance companies Answer: […]
Economics Chapter 10 Public Saving 500 Million The Budget Deficit
Copyright © 2017 Pearson Education, Inc. 74) Explain why a centrally-planned economy might not grow as rapidly as a market economy. Answer: Technological change is very important for growth. Simply accumulating inputs will not ensure growth unless technological change occurs. […]
Economics Chapter 10 Potential GDP Recurring learning Outcome
Copyright © 2017 Pearson Education, Inc. Macroeconomics 2017 (Hubbard) Chapter 10 Economic Growth, the Financial System, and Business Cycles 10.1 Long-Run Economic Growth 1) Which of the following statements describes the experiences of Corning, Inc. since it was established in […]
Economics Chapter 9 Pearson Education Inc 4 Suppose That The Beginning
Copyright © 2017 Pearson Education, Inc. 7) Suppose you borrow $1,000 at an interest rate of 12 percent. If the expected real interest rate is 5 percent, then the rate of inflation over the upcoming year that would be most […]
Economics Chapter 9 Discuss the key measures, theories, and effects
Copyright © 2017 Pearson Education, Inc. 48) The inflation rate measures the average prices of goods and services in the economy. Answer: FALSE Diff: 1 Page Ref: 673/291 Topic: Inflation Rate *: Recurring Learning Outcome: Macro-13: Discuss the key measures, […]
Economics Chapter 9 Labor unions cause unemployment because the union
Copyright © 2017 Pearson Education, Inc. Figure 9-1 23) Refer to Figure 9-1. Based on the graph of the labor market above, if a minimum wage of $8 per hour is imposed, which of the following will result? A) The […]
Economics Chapter 9 Describe The Three Types Unemployment answer Frictional Unemployment
Copyright © 2017 Pearson Education, Inc. 68) Fill in the missing values in the table of data collected in the household survey for November, 2009. The working-age population, employment, unemployment, and labor force are measured in thousands. Show your work. […]
Economics Chapter 9 The Bureau of Labor Statistics would categorize a retiree
Copyright © 2017 Pearson Education, Inc. Macroeconomics 2017 (Hubbard) Chapter 9 Unemployment and Inflation 9.1 Measuring the Unemployment Rate, the Labor Force Participation Rate, and the Employment-Population Ratio 1) Due to low interest rates, increased banking regulations, and technological change, […]
Economics Chapter 8 Gross national product is defined as
Copyright © 2017 Pearson Education, Inc. 9) National income equals gross domestic product A) plus sales taxes. B) plus government transfer payments. C) minus the consumption of fixed capital. D) minus government transfer payments. Answer: C Diff: 1 Page Ref: […]
Economics Chapter 8 Assume that 2011 The Base Year Output Higher
Copyright © 2017 Pearson Education, Inc. 54) If the size of the underground economy is large, A) government agencies have difficulty measuring nominal and real GDP. B) it is relatively easy to gather productivity data on many businesses. C) measuring […]
Economics Chapter 8 GDP Versus Nominal GDP Recurring learning Outcome Macro3
Copyright © 2017 Pearson Education, Inc. 30) If a country passes a labor law limiting the number of hours of work per week, GDP would ________ and leisure would ________. A) decrease; increase B) increase; increase C) decrease; decrease D) […]
Economics Chapter 8 Calculate Nominal GDP For This Simple economy answer Nominal
Copyright © 2017 Pearson Education, Inc. Article Summary In the third quarter of 2015, the Chinese economy grew by 6.9 percent, just below the government’s target of 7 percent and its slowest growth rate since 2008. A decline in manufacturing […]
Economics Chapter 8 Components GDP learning Outcome Macro 1
Copyright © 2017 Pearson Education, Inc. Macroeconomics 2017 (Hubbard) Chapter 8 GDP: Measuring Total Production and Income 8.1 Gross Domestic Product Measures Total Production 1) In 2015, Ford Motor Company’s sales were rising. These events were caused by A) an […]
Economics Chapter 7 Which The Following Describes The National Security
Copyright © 2017 Pearson Education, Inc. 54 Answer: a. Price = $1.00 per pound; Quantity purchased = 16 million pounds b. Consumer surplus = 1/2 × 16 million × $1 = $8 million c. Quantity supplied by domestic producers = […]
Economics Chapter 7 what is the amount of tariff revenue collected
Copyright © 2017 Pearson Education, Inc. 21) Refer to Figure 7-2. Without the tariff in place, the United States produces A) 12 million pounds of coffee. B) 26 million pounds of coffee. C) 33 million pounds of coffee. D) 45 […]
Economics Chapter 7 Discuss different types of market systems and the gains
Copyright © 2017 Pearson Education, Inc. 8) Refer to Table 7-6. Which country has a comparative advantage in producing belts? A) Estonia B) Morocco C) both countries D) neither country Answer: B Diff: 2 Page Ref: 291/221 Topic: Comparative Advantage […]
Economics Chapter 7 Madison Has Comparative Advantage Making Empanadas And
Copyright © 2017 Pearson Education, Inc. Macroeconomics 2017 (Hubbard) Chapter 7 Comparative Advantage and the Gains from International Trade 7.1 The United States in the International Economy 1) Despite the Obama administration’s support of the Trans-Pacific Partnership (TPP), the AFL-CIO […]
Economics Chapter 6 As a result of the 2007-2009 financial crisis,
Copyright © 2017 Pearson Education, Inc. 8) Traditionally, Wall Street investment banks had been organized as ________, but by 2000 they had converted to being ________. A) partnerships; publicly-traded companies B) sole proprietorships; partnerships C) corporations; partnerships D) partnerships; sole […]