The auditors who physically examine securities should insist that a client representative be present in order to:
A) Detect fraudulent securities.
B) Lend authority to the auditors' directives.
C) Acknowledge the receipt of securities returned.
D) Coordinate the return of securities to the proper locations.
Answer: C) Acknowledge the receipt of securities returned.
Because of the liquidity of many securities, the auditor should insist that a client representative be present in order to acknowledge the receipt of securities returned. In the event of subsequent "disappearance" of a security the auditor will not be a suspect.
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The table above shows the labor demand and labor supply schedules for a nation. The equilibrium real wage rate is ________ and the equilibrium quantity of labor is ________ billions of hours per year
A) $25; 260 B) $20; 280 C) $20; 260 D) $15; 260 E) $40; 320
Which of the following is TRUE about the political and market systems of voting?
A) The political voting system functions according to proportional rule, while the market voting system functions according to majority rule. B) The political voting system functions according to majority rule, while the market voting system functions according to proportional rule. C) The political voting system functions according to minority rule, while the market voting system functions according to majority rule. D) The political system and the market system are identical.
A monopoly firm can sell its fourth unit of output for a price of $250. To sell more than five units, it must expect to receive a price:
A. equal to $250. B. greater than $250. C. less than $250. D. equal to $340.
Unemployment insurance could affect unemployment by:
A. changing the incentives of those unemployed and looking for work. B. decreasing the amount of frictional unemployment. C. increasing the equilibrium level of unemployment. D. All of these are true.