The most common measure of inflation is a statistic called the

Which of these situations produces the largest profits for oligopolists? a. The firms reach a Nash equilibrium. b. The firms reach the competitive outcome. c. The firms reach the monopoly outcome. d.

Why are public works projects like the Honolulu Rail project nearly impossible to stop once they have been approved, even if later cost estimates skyrocket?

A manufacturer uses machine hours to assign overhead costs to products. Budgeted information for the next year follows.

The Holistic model is the most common social team structure used by organizations today. a. True b. False

Is "bigness" in industry the result of manipulation, or the natural workings of economic laws? Is "bigness" in industry bad and if so, why?

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.