The standard financial institution confirmation request used by the auditors is a means of obtaining documentary evidence about both assets and liabilities.
a. true
b. false
Answer: a. true
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If the demand for digital cameras increases when consumers' incomes rise, then digital cameras are
A) a substitute for camcorders. B) a complement to camcorders. C) an inferior good. D) a normal good. E) made using advanced technology.
In the long run, more costs become fixed
Answer the following statement true (T) or false (F)
In the figure above, assume that output is $10.5 trillion, while potential output is $12 trillion. Suppose that a combination of fiscal stimulus and recovery of consumer and business confidence shifts the IS and AD curves, as shown in the figure
The equilibrium real interest rate is ________ percent. A) 3 B) one C) 2.5 D) 2 E) zero
You can invest $100,000 into either project A or B. You estimate that A would succeed with a probability of 0.7 in which case it doubles in value. If it fails, its scrap value is $50,000 . Project B would succeed with probability 0.6, in which case it would have a value of $150,000 . If it fails, project B's scrap value is $30,000 . Which project should you invest in?
a. Project A b. Project B c. Neither of the projects d. You cannot tell from the information presented