Suppose Sam's Shoe Co. makes only one kind of shoe, which sells for $50 a pair. If they sold 500,000 pairs of shoes, and had a total cost of $1,000,000, what was the company's profit?
A. $1,500,000
B. $24,000,000
C. $40,000,000
D. Not enough information is given to calculate profit.
B. $24,000,000
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In the money market, in the short run in order to decrease the nominal interest rate, the Fed must
A) increase the discount rate. B) increase the quantity of money. C) decrease the quantity of money. D) decrease the demand for money. E) directly lower the interest rate and not change either the demand for money or the supply of money.
Refer to Scenario 13.1. If Sammy gets to set the agenda, he will pit ________ in the first round to assure that ________ wins the first round vote
A) calamari and jalapeno poppers; calamari B) calamari and potato skins; calamari C) potato skins and jalapeno poppers; potato skins D) jalapeno poppers and potato skins; jalapeno poppers
All of the following are criteria used to select a forecasting technique EXCEPT:
a. the accuracy required of the forecasting model b. the time required to complete the model c. the complexity of the relationships being forecast d. the cost associated with developing the forecasting model e. all of these are criteria used to select a forecasting technique
Unlimited liability means
a. a firm is always liable for damages when it is at fault b. if a firm is sued, it has enough insurance to pay the damages c. the owners are personally liable for all the debts of the firm d. a corporation is not held liable for the stockholders' errors e. a sole proprietor's own net worth cannot be used to pay debts