_____________ is a financial arrangement whereby people pay premiums tp a(an) ____________ company that reimburses them in the event of loss or injury
a. Stock
b. Mutual Fund
c. Insurance
d. Investiture
C. p. 414
Which of the following is not one of the steps in the 5S Management Concept?
a. Sort
b. Straighten
c. Socialize
d. Sustain
C
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Which of the following could explain why the demand for table salt is inelastic?
A) Salt is a luxury for high-income consumers but a necessity for low-income consumers. B) Salt is a rare commodity. C) Salt is a luxury good. D) Households devote a very small portion of their income to salt purchases.
In a natural monopoly situation
A) there are large economies of scale relative to demand. B) the firm has an upward sloping average cost curve. C) producers try to differentiate their product with advertising. D) there is no need for government regulation.
Following the principle of comparative advantage, specialization:
a. permits greater levels of total production than would be attained without it. b. increases the dependency of countries on trade. c. both of the above. d. neither of the above.
By reducing income taxes, more money is put into the hands of people who will spend part of it on more goods and services. This shifts the aggregate demand curve outward
Indicate whether the statement is true or false