Which of the following relationships is correct?
A. Stock of Inventories (End of Period) = Stock of Inventories (Beginning of Period) - Production - Sales
B. Stock of Inventories (End of Period) = Stock of Inventories (Beginning of Period) - Production + Sales
C. Stock of Inventories (End of Period) = Stock of Inventories (Beginning of Period) + Production - Sales
D. Stock of Inventories (End of Period) = Stock of Inventories (Beginning of Period) + Production + Sales
Answer: C
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Accounting profits are typically
A) greater than economic profits because accounting profits do not include explicit costs. B) greater than economic profits because accounting profits do not include implicit costs. C) smaller than economic profits because accounting profits do not include explicit costs. D) equal to economic profits in the long run.
Which of the following positions might be taken by the ruler of a nation practicing mercantilism?
a. support of the merchant marine sector b. support for the elimination of trade barriers such as tariffs c. support for the reduction of government holdings of specie d. discouragement of exploration and colonization e. All of the above.
Summarize the history of how the Federal Reserve came to have twelve districts
An income transfer contains less fiscal stimulus than an increase in government spending of the same size.
Answer the following statement true (T) or false (F)