What was(were) the effect(s) of the Enron Bankruptcy in late 2001 and other corporate scandals in 2002?
A) An ensuing lack of confidence in financial accounting.
B) The value of corporate bonds declined.
C) It became more expensive for firms to finance their investments.
D) all of the above
E) none of the above
D
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At the beginning of the year, your wealth is $10,000. During the year, you have an income of $80,000 and you spend $90,000 on consumption. You pay no taxes. Your wealth at the end of the year is
A) $20,000.00. B) $0. C) $90,000.00. D) $100,000.00.
If firms in a competitive market are ________ then there is ________ for firms to ________ the industry
A) incurring economic losses; an incentive; exit B) incurring economic losses; no incentive; exit C) making economic profits; no incentive; enter D) making zero economic profit; an incentive; exit
In a partnership, debts accumulated by one partner
A) are the responsibility of that partner only. B) are the responsibility of the other partners as well. C) are the responsibility of all the employees of the partnership, regardless of whether those employees are partners. D) are the responsibility of the other partners only up to the amount each partner initially invested in the partnership.
Suppose the price elasticity of demand of for soy beans is 0.85. When the price of soybeans rises by 20 percent, the quantity demanded of soybeans falls by approximately _____________ percent
A) 0.024 B) 26.67 C) 23.53 D) 17.00