Which of the following is NOT an assumption of perfectly competitive markets?
A) many buyers and many sellers
B) no restriction on entry
C) complete information about prices
D) new entrants have higher costs
D
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An example of a leading variable in the US is
A) GDP. B) investment is structures. C) the consumer price index. D) housing starts.
Under which of the following conditions would a cost center be the best option?
a. Always, since they are largely run on their own b. Never, since they require a high degree of the firm's attention c. As long as the cost of monitoring is low d. As long as the benefits from monitoring are low
The Federal Reserve System consists of which of the following?
A. Federal Deposit Insurance Corporation and Controller of the Currency. B. Board of Governors and the 12 Federal Reserve Banks. C. U.S. Treasury Department and Bureau of Engraving and Printing. D. Federal Open Market Committee and Office of Thrift Supervision.
An excise tax
A) acts as a negative incentive to consume that good or service. B) is illegal in Florida, Georgia, and Alaska. C) is often used to encourage the use of a good. D) is a value added tax (VAT).