In direct response to the corporate scandals of Enron and WorldCom, the U.S. Congress passed the _______________.
a. Sarbanes-Oxley Act
b. Foreign Corrupt Practices Act
c. Robinson Patman Act
d. Sherman Antitrust Act
a. Sarbanes-Oxley Act
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Which of the following is not a problem with alternative-forms reliability?
A) The results will depend on how the scale items are split. B) It is time consuming and expensive to construct an equivalent form of the scale. C) It is difficult to construct two equivalent forms of a scale. D) Both B and C are correct.
Which of the following statements about income distribution in the United States is NOT true?
A) Over the past several decades, the rich have grown richer. B) Over the past several decades, the middle class has grown faster than other classes. C) Over the past several decades, the poor have remained poor. D) The top 20 percent of earners capture over 50 percent of all income. E) The top five percent of American earners get nearly 22 percent of the country's adjusted gross income.
When fixed costs are $18,000 and the contribution margin per unit is $4, the breakeven point is
A) 4,500 units. B) 2,230 units. C) $22,300. D) $72,000.
Which of the following statements accurately brings out the difference between monopolistic competition and an oligopoly?
A. Firms in an oligopoly have no pricing power; firms in a monopolistically competitive industry have the ability to raise prices. B. In monopolistic competition, many firms compete against each other; in an oligopoly, there are few large firms competing against each other. C. Sellers in an oligopoly provide highly differentiated products; in monopolistic competition, the products sold are undifferentiated or standardized. D. In an oligopoly, the number of buyers is large; in monopolistic competition, the number of buyers is limited to three or four.