The inspection of securities on hand should be coordinated with the verification of inventories because both involve counting and inspection and can conveniently be combined.
a. true
b. false
Answer: b. false
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The marginal benefit of a good or service
A) increases as more is consumed. B) decreases as more is consumed C) remains constant as more is consumed. D) decreases as less is consumed
The aggregate demand curve of an economy illustrates the relationship between: a. interest rates and income levels
b. the price level and real gross domestic product (GDP). c. the price level and interest rates. d. income levels and real gross domestic product (GDP). e. real income levels and nominal income levels.
The change in consumption divided by a change in disposable income is called the:
a. consumption function. b. marginal propensity to consume. c. marginal propensity to spend. d. spending function. e. changing propensity to consume.
Suppose Freeland produces few consumption goods and many investment goods while Liberty Nation produces few investment goods and many consumption goods. Other things equal, you would expect a. per capita income to grow more rapidly in Liberty Nation
b. population to grow faster in Liberty Nation. c. the production possibilities curve for Freeland will shift out more rapidly than that of Liberty Nation. d. that if both countries started with identical production possibilities curves, in twenty years, people in Liberty Nation will be able to produce more consumer goods than people in Freeland.