A country with a comparative advantage in the production of a good will ________ production of the good and ________
A) increase; import the good
B) not change; import the good
C) decrease; export the good
D) decrease; import the good
E) increase; export the good
E
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A ________ occurs when a country's imports exceed its exports
A) budget surplus B) trade deficit C) trade surplus D) fiscal deficit
Book publishers use price discrimination routinely, but the form of price discrimination they use is different from the form used by airlines and other industries. Explain
What will be an ideal response?
If the price of a good is increased and total revenue received from the sale of this good increases, then the price elasticity of demand for the good is
A) elastic. B) inelastic. C) unitary. D) None of the above
Under which of the following circumstances would an auditor be most likely to intensify an examination of a $500 imprest petty cash fund?
A) Reimbursement occurs twice each week. B) Reimbursement vouchers are not prenumbered. C) The custodian occasionally uses the cash fund to cash employee checks. D) The custodian endorses reimbursement checks.