A closed economy is one in which:

a. saving exactly equals investment at full employment

b. imports exactly equal exports, so that trade is balanced

c. the home economy is isolated from foreign trade

d. domestic firms invest in industries overseas

What are some advantages for Sole traders?

Consider the following list of items: Food Electric bill Clothing Health insurance These are all examples of: A. Assets B. Expenses C. Income D. Savings

Expected direct materials purchases in Metlock Company are $204000 in the first quarter and $264000 in the second quarter. 35 percent of the purchases are paid in cash as incurred, and the balance is paid in the following quarter.

A normal good is one: a. whose amount demanded will increase as its price decreases. b. whose demand curve will shift leftward as incomes rise. c. whose amount demanded will increase as its price increases. d.

Which of the following describes the difference between "scarcity" and "shortage"? A. In the economic sense, almost everything is scarce.

Louisiana Specialty Foods can produce its famous meat pies in its factory at a production rate of 1650 cases each per day. The firm distributes the pies to regional stores and restaurants whose demand is a steady demand rate of 250 cases per day.

A company that produces gift cards for various retail stores implemented a marketing campaign that for a limited time offered a 10% discount on gift cards if you purchased three or more at the same time.

A currency trader observes the following quotes in the spot market: 1 U. S. dollar = 122 Japanese yen 1 British pound = 2.25 Swiss francs 1 British pound = 1.63 U. S.

Mary, Susan, and Sarah are running a beach boutique on the board walk of Ocean City. Their favorite product is a red lifeguard hoody. Mary believes it will sell 341 times next season.

Stone Foods produces the majority of its cheese products in its U. S. based dairy division at a total outlay cost of $6.00 per unit.