Under the Sarbanes-Oxley Act of 2002, the provision that established the PCAOB to supervise accounting firms is an example of
A) regulate for transparency.
B) supervisory oversight.
C) separation of functions.
D) socialization of information production.
B
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In September, buyers of silver expect that the price of silver will rise in October. What happens in the silver market in September, holding all else constant?
A) The demand curve shifts to the right. B) The quantity demanded increases. C) The quantity demanded decreases. D) The demand curve shifts to the left.
Gasoline taxes that are typically used for highway construction and maintenance are consistent with which of the following principles of taxation?
A) the ability-to-pay principle B) the vertical-equity principle C) the horizontal-equity principle D) the benefits-received principle
In the basic closed-economy ISLM model, the goods market equilibrium condition is
A) output = consumption + investment + government spending. B) output = consumption + investment + government spending - tax. C) output = consumption + investment + government spending + net export. D) output = potential output.
If the economy is at the point where the short-run Phillips curve intersects the long-run Phillips curve,
a. unemployment equals the natural rate and expected inflation equals actual inflation. b. unemployment is above the natural rate and expected inflation equals actual inflation. c. unemployment equals the natural rate and expected inflation is greater than actual inflation. d. None of the above is necessarily correct.