An inspection by an independent external entity of all a company's accounting records and business operations is called
a. a business operations inspection
b. an audit
c. a financial inspection
d. accounting
e. fraud
b. an audit
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Allocative efficiency occurs when
A) we cannot produce more of any good without giving up some other good that we value more highly. B) we cannot produce more of any one good without giving up some other good. C) marginal benefit exceeds marginal cost. D) opportunity costs are decreasing.
Refer to Figure 10.7. A movement from point A to point B could be caused by
A) a negative demand shock. B) a decrease in the term premium investors expect in the future. C) an increase in the default-risk premium. D) an increase in the expected rate of inflation.
An increase in the money supply, other things being constant
A) causes interest rates to rise. B) generates an increase in the demand for money. C) causes the price level to increase. D) causes the purchasing power of money to increase.
Which of the following is a positive incentive?
A. A school teacher decides to retire and focus on gardening. B. A business decides to leave the industry. C. McDonalds decides to offer a white chocolate mocha. D. Discover credit cards offer 0 percent balance transfer rates for someone to open a new account.