Scarcity means that there is less of a good or resource available than people wish to have

a. True

b. False

The theory of comparative advantage states that there are gains from trade if countries specialize and optimize their opportunity costs.

Assume investors expect a 2.0 percent real rate of return over the next year. If inflation is expected to be 0.5 percent, what is the expected market interest rate for a one-year U. S. Treasury security?

Valport Valve Company manufactured 7,800 units during March of a control valve used by milk processors in its Shreveport plant. Records indicated the following: Direct labor 40,200 hr. at $14.60 Direct material purchased 30,000 lb. at $3.

A small business owner is skeptical about online transactions. They are worried that information may be stolen in transmission or that the party on the other end may be a bogus one.

Who has the authority to issue professional liscenses?

What are the characteristics of successful budgets? What can you do to cultivate these successful characteristics in your own money management?

8. Problems and Applications Q8 There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: Consumers' Willingness to Pay Charles: $50 Gilberto: $35 Juanita: $25

When a company buys equipment for $150,000 and pays for one third in cash and the other two thirds is financed by a note payable, which of the following are the effects on the accounting equation? A. Total assets decrease $50,000. B.

Which is true about investments and risk? Low-risk investments have a high return over the long run. High-risk investments usually fail. Safe investments are always somewhat profitable. Every investment carries some degree of risk.

Which of the following statements is true of ABC systems? A. ABC system is least suited for service companies. B. ABC system is simpler compared to traditional systems. C. ABC system will always result in higher product costs. D.