Describe a product, and then give an example of a time when the demand for this product might be high and the demand for this product might be low.

The International Law Commission (ILC) mainly develops and codifies general principles of law. True False

If John can produce a good in less time than Fred then he has an absolute advantage in producing that good. True or False

In a planned economy what predicts the demand of goods and services and coordinates the appropriate level of production of these goods and services.

A 2-year maturity bond with face value of $1,000 makes annual coupon payments of $102 and is selling at face value. What will be the rate of return on the bond if its yield to maturity at the end of the year is:

A favorable economic outlook is shared in an announcement in the news by the government. Consumers are now confident about the future strength of the economy and the availability of jobs;

A business-level strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage in specific product markets. (A) True (B) False

You found a serious multicollinearity problem in your regression model. It turns out that x1 and x2 are highly correlated to each other. Therefore, you need to drop one of these variables. You also found that the correlation of y and x1 is 0.

Lyndon, a citizen of Maryland, obtains a federal license to operate a commercial fishing boat in a certain area off the Maryland coast. The Maryland state legislature enacts a law that bans all commercial fishing in that area.

Murphy Manufacturing estimated $100,000 in manufacturing overhead and 5,000 direct labor hours for 2016. Actual overhead for the year was $120,000 and 7,500 actual direct labor-hours were used.

Under workers' compensation: a. the employee loses the right to litigation against the employer for covered incidents. b. employee fault controls compensation. c. injuries by fellow employees are not covered. d. none of the above