Even if supply is strictlyâ limited, there is some price that will clear any market.

A. True

B. False

Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $10,000 will be accepted.

If you die without a valid will: the federal court decides how the property should be distributed. the IRS confiscates your property. your relatives or friends will get the property. the state's law of descent and distribution becomes your will.

If you are offered a job, what should you consider? A. Only how much you will be paid B. Avoid asking for flexibility C. Job responsibilities and work environment

Suppose there is unexpected deflation this year that reduces the aggregate price level by 10%. how does deflation affect borrowers and lenders?

Going into year 11, the company production facilities to make athletic footwear consisted of

The strategic approach to OB applies to A. the public sector B. the not-for-profit sector C. technical businesses D. education organizations E. All of the above are correct

When there are many producers and many consumers in an economy, the best way to achieve an efficient allocation of resources is to have a A. single planner who makes all production decisions and allocates all goods and services to consumers. B.

Consider the market in which clothing producers operate. Suppose productivity decreases in the factory producing jeans. Explain how this event will change the quantity of jeans supplied and the supply of jeans today. A.

Jones Manufacturing sent Blue Company an invoice for equipment with a list price of $10,000. The invoice is dated July 27 with terms of 2/10, EOM. Blue Company is entitled to a 40% trade discount.

Suppose a plaintiff hires a lawyer to represent her in a court case. The lawyer will receive a share of the settlement if the plaintiff wins. Under this contract A. the risk is shared. B. the lawyer bears all of the risk. C.