The _____ believe that it takes a long time for prices and wages to change to restore equilibrium in an economy.

A. Keynesians
B. classical economists
C. monetarists
D. institutional economists


Answer: A

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Refer to the following list of liability balances at December 31, 2019.


What is the total amount of long-term liabilities?
A) $55,000
B) $109,000
C) $94,000
D) $40,000

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A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 28 is:

A. Debit Accounts Payable $1,800; credit Cash $1,800. B. Debit Merchandise Inventory $1,600; credit Cash $1,600. C. Debit Accounts Payable $1,600; credit Merchandise Inventory $32; credit Cash $1,568. D. Debit Accounts Payable $1,600; credit Cash $1,600. E. Debit Cash $1,600; credit Accounts Payable $1,600.

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__________________is the degree to which employees are expected to follow the same rules and policies everywhere.

a. Integration b. Standardization c. Localization d. Responsiveness

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Reliability is the degree to which the validity of a selection method established in one context extends to other contexts.

Answer the following statement true (T) or false (F)

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