Which type of educational achievement has the most important implications for subsequent earnings?

When studying changes in the economy over time, economists want a measure of the total quantity of goods and services the economy is producing that is not affected by changes in the prices of those goods and services.

Michael's Machine Shop reports the following information for the quarter. Sales price $ 110 Fixed costs (for the quarter) Selling and administrative 47,780 Production 143,340 Variable cost (per unit) Materials 26 Labor 23 Plant supervision 16

1. Requires that accounting standards be followed for all items of significant size. 2. Separates financial information into time periods for reporting purposes. 3. Requires recognition of expenses in the same period as related revenues. 4.

What two terms are used for specific promises ca company makes about the performance of its product?

A professional gambler moves from a state where gambling is illegal to a state where gam-bling is legal. Most of his income was, and continues to be, from gambling. His move a. raises GDP. b. decreases GDP. c.

Financial markets are important for bringing equilibrium to the loanable funds market, but do not affect the efficient allocation of scarce resources in the long-run. a. True b. False

Amanda is a 30% partner in the ACW Partnership with an outside basis of $22,000. ACW distributes land with a basis of $12,000 and fair value of $18,000 to Amanda in complete liquidation of her interest.

If profits are positive in the short run in a perfectly competitive industry, which of the following would you NOT expect to happen as the market moves to the long run? A. Each firm will decrease output. B. Profits of each firm will fall. C.

A surplus means a (n): a. situation where the current market price is too low. b. excess supply of the product at the current price. c. situation where the quantity supplied is less than the quantity demanded. d.

Brief Exercise 13-05 Pronghorn Inc.'s $11 par value common stock is actively traded at a market price of $14 per share. Pronghorn issues 5,900 shares to purchase land advertised for sale at $77,000.