Archives: Quiz
Business Law Chapter 21 The Modified Contract Unenforceable b The Modified Contract
37. Richard owns and operates a small business at an outdoor market where he sells fruits and vegetables. What does the UCC specifically require of Richard with respect to his customers? a. Observance of reasonable commercial standards of fair dealing […]
Economics Chapter 8 France Less Than Per Bottle Less Than
Answer to fall from the autarky price. to rise from the autarky price. to remain at the autarky price. to be 10 boxes of tulips. Answer fall in Argentina. rise in Argentina. stay the same in Venezuela. either rise or […]
Business Law Chapter 21 Sales transactions were completely governed by general contract law
Chapter 21. Introduction to Sales and Leases 1. Until the early 1900s, sales transactions were completely governed by general contract law, but now sales of tangible personal property are predominantly governed by statute. a. True b. False ANSWER: True POINTS: […]
Economics Chapter 8 Consumer Surplus Falls Producer Surplus Rises And
137. Multiple Choice: Figure: The Market for MP3 Players Re… Question Figure: The Market for MP3 Players Reference: Ref 8-13 (Figure: The Market for MP3 Players) Look at the figure The Market for MP3 Players. In the market for MP3 […]
Business Law Chapter 20 Authority that is not found in the express or explicit
47. Authority that is not found in the express or explicit words of the principal, but that is inferred from the words is known as: a. apparent authority. b. indirect authority. c. delegated authority. d. None of these. 48. Which […]
Economics Chapter 8 Multiple Choice Figure The Market For Roses
Figure: The Production Possibilities for Two Countries Reference: Ref 8-6 (Figure: The Production Possibilities for Two Countries) Look at the figure The Production Possibilities for Two Countries. If Malaysia specializes in the production of the good of its comparative advantage, […]
Business Law Chapter 20 Roy is the promoter of a new corporation that has not yet
Chapter 20. Relationship with Third Parties 1. Roy is the promoter of a new corporation that has not yet been organized. On behalf of the as–yet unincorporated business, he enters into a three-year lease agreement for office space and personally […]
Economics Chapter 8 Jackson Exports 120 Bushels Wheat Tahoe Tahoe
Answer labor abundance. mild climate. advanced technology. increasing returns. Answer climate. factor endowments. technology. exchange rates. Answer differences in climate differences in factor endowments differences in technology the role of increasing returns 72. Multiple Choice: Sri Lanka‘s comparative advantage ove… […]
Business Law Chapter 19 The duty of requires the agent to act in the principal’s affairs
43. The duty of requires the agent to act in the principal’s affairs only as authorized by the principal and to obey all reasonable instructions and directions given by the principal. a. accounting b. obedience c. fiduciary d. diligence ANSWER: […]
Economics Chapter 8 Multiple Choice The Term Autarky Refers Situatio
Tests, Surveys, and Pools Tests Test Canvas : TestBanks Chapter 08: International Trade Microeconom ics, 3e Test Canvas: TestBanks Chapter 08: International Trade The Test Canvas allows you to add and edit questions, add Question Sets or Random Blocks, reorder […]
Business Law Chapter 19 Acting within the scope of authority granted by the principal
Chapter 19. Relationship of Principal and Agent 1. An agent, acting within the scope of authority granted by the principal, may bind the principal to contracts, but may not negotiate terms of the contracts. a. True b. False ANSWER: False […]
Economics Chapter 8 Feedback Incorrect Consumer And Producer Surplus Are
Tests, Surveys, and Pools Tests Test Canvas : Self-Test Quiz – Chapter 08 Microeconom ics, 3e Test Canvas: Self-Test Quiz – Chapter 08 The Test Canvas allows you to add and edit questions, add Question Sets or Random Blocks, reorder […]
Business Law Chapter 18 Which of the following is correct with respect to election of remedies
41. The majority of states follow the rule in awarding damages for fraud. a. benefit-of-the-bargain b. out–of-pocket c. liquidated d. restitution ANSWER: a POINTS: 1 DIFFICULTY: Moderate LEARNING OBJECTIVES: SRBL.MANN.15. 18.01 – 18.01 NATIONAL STANDARDS: United States – AICPA: BB-Risk […]
Economics Chapter 7 Reference Ref 721 Scenario The Market For
P1 – P3 P2 – P3. P1 – P5. 277. Multiple Choice: Figure: A Market with a Tax Reference… Question Figure: A Market with a Tax Reference: Ref 7-20 (Figure: A Market with a Tax) Look at the figure A […]
Business Law Chapter 18 An employee’s promise of providing ordinary personal services
Chapter 18. Contract Remedies 1. An employee’s promise of providing ordinary personal services may be enforced by an injunction against serving another employer. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: SRBL.MANN.15. 18.03 – 18.03 NATIONAL […]
Economics Chapter 7 Question Answer Points Price Elasticities Demand And
Figure: The Gasoline Market Reference: Ref 7-17 (Figure: The Gasoline Market) Look at the figure The Gasoline Market. An excise tax has been levied on each gallon of gasoline supplied by producers, shifting the supply curve upward. What is the […]
Business Law Chapter 17 Which of the following is/are correct with regard to conditions
40. A(n) is a contract between a promisee and a promisor by which the promisee agrees to accept and the promisor agrees to render a substituted performance in satisfaction of an existing contractual duty. a. accord b. mutual rescission c. […]
Economics Chapter 7 Multiple Choice Personal Income And Includin Question
Answer 4.5%; 4% 5%; 5% 5%; 3.5% 213. Multiple Choice: Reference: Ref 7-15 (Table: Taxes, S… Question Reference: Ref 7-15 (Table: Taxes, Spending, and Income) Look at the table Taxes, Spending, and Income. Suppose Governor Meridias decides to initiate a […]
Business Law Chapter 17 The Notification Requirement Condition Precedent to The Insurance
Chapter 17. Performance, Breach, and Discharge 1. The law assumes that respective performances under a contract are concurrent conditions, unless there is an agreement to the contrary. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: SRBL.MANN.15. […]
Economics Chapter 7 Multiple Choice Tax That Rises Less Than
Answer the ability to pay. employment status. consumer debt. the maximal dead weight loss. benefits; higher incomes ability–to-pay; higher incomes benefits; fewer benefits Answer ability-to-pay principle. regressive tax principle. progressive tax principle. 145. Multiple Choice: Which of the following taxes […]
Business Law Chapter 16 The voluntary transfer of a contractual right to a third party
46. The voluntary transfer of a contractual right to a third party is known as a(n): a. implied warranty. b. assignment. c. delegation. d. novation. 47. A(n) obligee. is a method of discharging a contract in which a third party […]
Economics Chapter 7 The Market For Hamburgers Look The Figure
demand and supply are both inelastic. demand is elastic and supply is inelastic. demand and supply are both elastic. the demand is elastic and supply is inelastic. the demand is inelastic and supply is elastic. both demand and supply are […]
Business Law Chapter 16 Only the assignee has a right to the obligor’s performance
Chapter 16. Third Parties to Contracts 1. After an assignment, only the assignee has a right to the obligor‘s performance. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: SRBL.MANN.15. 16.01 – 16.01 NATIONAL STANDARDS: United States […]
Economics Chapter 7 Multiple Choice Suppose The Government Imposes P
Figure: The Market for Yachts Reference: Ref 7-6 (Figure: The Market for Yachts) Look at the figure The Market for Yachts. A quota of ________ will bring about the same price and output in the market for yachts as would […]
Business Law Chapter 15 Which of the following promises does not have to be evidenced
46. Which of the following promises does not have to be evidenced by writing in order to be enforceable? a. Jones’ agreement with Smith to sell his condominium for $100,000 b. Stewart’s promise to work for Austin for a two-year […]
Economics Chapter 7 Twinkies The Government Decides Tax Fried Twinkies
Tests, Surveys, and Pools Tests Test Canvas : TestBanks Chapter 07: Taxes Microeconom ics, 3e Test Canvas: TestBanks Chapter 07: Taxes The Test Canvas allows you to add and edit questions, add Question Sets or Random Blocks, reorder questions, and […]
Business Law Chapter 15 The Parol evidence rule is an exclusionary rule of evidence
Chapter 15. Contracts in Writing 1. The parol evidence rule is an exclusionary rule of evidence. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: SRBL.MANN.15. 15.04 – 15.04 NATIONAL STANDARDS: United States – AICPA: BB-Risk Analysis […]
Economics Chapter 7 The Deadweight Loss Arises From The Fact
Tests, Surveys, and Pools Tests Test Canvas : Self-Test Quiz – Chapter 07 Microeconom ics, 3e Test Canvas: Self-Test Quiz – Chapter 07 The Test Canvas allows you to add and edit questions, add Question Sets or Random Blocks, reorder […]
Business Law Chapter 14 who is a minor, enters into a contract with Violet
46. Tim, who is a minor, enters into a contract with Violet, who is an adult. Which of the following is correct? a. Violet may not disaffirm the contract. b. Violet may disaffirm the contract at any time. c. Violet […]
Economics Chapter 6 Question Answer Points The Price Coffee Increases
inelastic; inelastic elastic; elastic perfectly inelastic; elastic price and quantity are usually positively related. total revenue will not usually change in the direction of a supply price change. price and quantity are always negatively related. price-inelastic and supply is more […]
Business Law Chapter 14 Chicago For The Weekend The Way The
Chapter 14. Contractual Capacity 1. Kris, age 17, who looks 18 or older, makes a contract to buy a car from Maisie, who is the age of majority. Maisie finds out Kris’s age. Maisie may avoid the contract even if […]
Economics Chapter 6 Multiple Choice The Supply Curve For Good
Answer The income elasticity of demand would be positive if beans are a normal good. The income elasticity of demand would be positive if beans are an inferior good. The cross–price elasticity between beans and other goods would be positive. […]
Business Law Chapter 13 Before granting an injunction enjoining a former employee
39. Before granting an injunction enjoining a former employee from competing in a described territory, the courts insist that the employer demonstrate that the restriction is: a. exculpatory. b. conscionable. c. necessary to protect the employer’s legitimate interest. d. in […]
Economics Chapter 6 Multiple Choice The Income
Burger King will sell 8% more burgers. Burger King will sell 8% fewer burgers. We cannot tell what will happen to Burger King, but McDonald’s will sell 8% fewer burgers. Answer cross-price elasticity between cereal and milk is –2. cross–price […]
Business Law Chapter 13 illegal contracts are unenforceable and neither party can successfully
Chapter 13. Illegal Bargains 1. As a general rule, illegal contracts are unenforceable and neither party can successfully sue the other for breach or recover for any performance rendered. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy LEARNING […]
Economics Chapter 6 Figure The Demand For Shirts Reference Ref
Figure: The Demand for Shirts Reference: Ref 6-14 (Figure: The Demand for Shirts) Look at the figure The Demand for Shirts. Using the midpoint method, the price elasticity of demand for the segment CD is: 147. Multiple Choice: Figure: The […]
Business Law Chapter 12 Marilyn contracted with Bravo Builders to build an addition
50. Marilyn contracted with Bravo Builders to build an addition to her house for $15,000. After digging the foundation, Bravo decides that it will take more work and more concrete than it had originally thought and that it will need […]
Economics Chapter 6 Multiple Choice Increase The Price Cotton Question
increase; price; quantity not change; quantity; price increase; quantity; price Figure: The Demand Curve Reference: Ref 6-8 (Figure: The Demand Curve) Between the prices of $4 and $5, demand is _______, and total revenue will _________ if price increases. Answer […]
Business Law Chapter 12 Consideration can be present regardless of whether the parties
Chapter 12. Consideration 1. Consideration can be present regardless of whether the parties intend an exchange. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy LEARNING OBJECTIVES: SRBL.MANN.15. 12.01 – 12.01 NATIONAL STANDARDS: United States – AICPA: BB-Risk Analysis […]
Economics Chapter 6 Multiple Choice Perfectly Price inelastic Demand Cu Question
Answer 1.17. 1.50. 0.85. 19 119 64. Multiple Choice: Suppose at a price of $10 the quantit… Question Suppose at a price of $10 the quantity demanded is 100. When the price falls to $8, the quantity demanded increases to […]
Business Law Chapter 11 Steve Stating That Had Paid 250000 For
45. A contract was made for 125 bales of cotton to arrive on a ship named “Peerless” from Bombay. Unbeknownst to either party to the contract, there were two ships named “Peerless,” both of which were sailing from Bombay. One […]
Economics Chapter 6 Multiple Choice Egg Producers Know
Tests, Surveys, and Pools Tests Test Canvas : TestBanks Chapter 06: Elasticity Microeconom ics, 3e Test Canvas: TestBanks Chapter 06: Elasticity The Test Canvas allows you to add and edit questions, add Question Sets or Random Blocks, reorder questions, and […]
Business Law Chapter 11 Bettys Statement Was Misrepresentation Requisite For Fraud a
Chapter 11. Conduct Invalidating Assent 1. Marjorie has been cared for by her family physician for 35 years. She decides to assume the mortgage on his new clinic. The contract is automatically invalid because of undue influence. a. True b. […]
Economics Chapter 6 Correct Feedback Correct Negative Sign Would Tell
Tests, Surveys, and Pools Tests Test Canvas : Self-Test Quiz – Chapter 06 Microeconom ics, 3e Test Canvas: Self-Test Quiz – Chapter 06 The Test Canvas allows you to add and edit questions, add Question Sets or Random Blocks, reorder […]
Business Law Chapter 10 Part Property Match The Following Interest Land
ANSWER: c POINTS: 1 ANSWER: d POINTS: 1 ANSWER: m POINTS: 1 PART X: PROPERTY. Match the following: a. Interest in land created by a written document that provides security for payment of the debt. b. An interest that is […]
Economics Chapter 5 Quantity Supplied And Quantity Demanded Look The
Answer prices higher than the market equilibrium price illegal activity as people invent ways to get around the market constraint shortages and units of output that must be disposed of shortages and inefficiency created by buyers searching for units of […]
Business Law Chapter 10 Irene Will Not Be able Successfully Sue For
49. In general, which of the following will not terminate an offer? a. The death of the offeree b. The death of the offeror c. An inquiry by the offeree as to size or materials d. An acceptance that adds […]
Economics Chapter 5 What The Quota Wedge Answer
Answer increase; increase increase; decrease decrease; increase decrease; decrease Answer quota limit. price ceiling. price floor. tariff. Answer the demand price to be greater than the supply price. the quantity demanded to be greater than the quantity supplied. the quantity […]
Business Law Chapter 10 On Tuesday morning John sends a letter to Arlene rejecting
Chapter 10. Mutual Assent 1. On Tuesday morning John sends a letter to Arlene rejecting her offer, but later the same day John changes his mind and sends a letter of acceptance to Arlene. The letter of acceptance will be […]
Economics Chapter 5 Multiple Choice Figure The Market For Hybrid
Answer the number of workers who want to work will be greater than the number of jobs available. the equilibrium wage will increase. there will be a job for everyone who is willing to work. business owners will hire more […]