With regard to 'factor conditions,' the pool of resources that a firm (or nation) has is much more important than the speed and efficiency with which these resources are deployed.
Answer the following statement true (T) or false (F)
False
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Concerning foreign exchange trading, a "futures contract" is characterized by which of the following?
a. The size of the contract is standardized in round lots. b. The contract's costs are based on bid/offer spread. c. Trading happens over the counter by telephone. d. The date of delivery is negotiable.
During the 1950's, General Motors (GM) was responsible for about 60 percent of all passenger cars produced in the United States. Some criticized GM for
a. encouraging too much market competition. b. failing to use economies of scale in individual plants. c. acquiring monopoly power over the auto market. d. failing to sufficiently dominate the auto market.
A company's manager estimates that in the upcoming year, total variable costs will increase by $20,000 and total fixed costs will decrease by $14,000. Assume that the unit sales price did not change. What will be the anticipated effect on net operating income?
A) Net operating income will increase by $34,000. B) Net operating income will decrease by $34,000. C) Net operating income will increase by $6,000. D) Net operating income will decrease by $6,000.
Boxwood Company sells blankets for $30 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 03 Purchase 6 $19 10 Sale 3 17 Purchase 13 $15 20 Sale 5 23 Sale 3 30 Purchase 13 $21 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method.