In a bank reconciliation, interest revenue earned on your bank balance is
a. added to the book balance
b. deducted from the book balance
c. added to the bank balance
Answer: a. added to the book balance
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The Tax Reform Act of 2004
a. lowered marginal income tax rates. b. cut taxes on inheritance payments. c. lowered taxes or corporate dividends. d. Both b and c e. All of the above
Consumers buy less of a good as its price increases because
a. production costs have risen. b. substitute goods are now relatively cheaper. c. the income of consumers has effectively risen. d. the higher price will make the good more valuable to each consumer.
If you were told that the exchange rate was 1.2 U.S. dollars for one Canadian dollar,that would mean that Canadians would have to spend ____ to buy a $12 watch in New York City
A. 18 Canadian dollars B. 10 Canadian dollars C. 12 Canadian dollars D. 14.4 Canadian dollars
Negative marginal utility implies that:
a. ?the price of a good increases as additional units are consumed. b. ?total utility is negative. c. ?total utility decreases as additional units of a good are consumed. d. ?the total revenue spent by a consumer on a good decreases as more of the good is purchased. e. ?marginal utility increases as additional units of a good are consumed.