What would be an advantage of having all countries adopt and follow the same accounting standards?
a. Consistency.
b. Comparability.
c. Lower preparation costs.
d. b and c
Ans: d. b and c
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Which of the following groups of people are counted as employed?
a. People who work at least one hour a week. b. People who work at least 15 hours a week as unpaid employees of a family business. c. People who are out of work due to bad weather. d. All of these are counted as employed.
Increasing scarcity of a resource causes new supplies to become more and more costly
a. True b. False Indicate whether the statement is true or false
The demand for a particular brand of clothing is likely to be less elastic than the demand for all clothing.
Answer the following statement true (T) or false (F)
If a city decides to restrict the number of pizza parlors,
A) the price of pizza will increase. B) pizza parlors will make higher profits. C) total welfare will decrease. D) All of the above.