Which of the following is the main goal of a continuing company?
A. To improve product quality
B. To enhance service to its customers
C. To maximize the value of the firm
D. To minimize costs
Answer: C
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When trying to increase aggregate demand during a period of serious unemployment,
a. monetary and fiscal policies are likely to be equally effective. b. monetary policy is likely to be more effective than fiscal policy. c. fiscal policy is likely to be more effective than monetary policy. d. laissez-faire policy is likely to be most effective.
One complication that tends to prolong recessionary gaps is that wages
a. are fixed by unions, which represent nearly all workers in the United States. b. tend to rise rapidly. c. rarely fall. d. tend to move in the opposite direction from prices.
Zari takes a summer course in London, England. She doesn't buy British pounds at the U.S. airport, where the rate is 1 pound = $1.60 . Upon arrival in London, she finds that she can buy pounds for $1.65 each. Which of the following is true?
a. Zari would have been better off if she had bought pounds in the United States where U.S. dollars were cheaper. b. Zari would have been better off if she had bought pounds in the United States where pounds were less expensive. c. The pounds were more expensive in London because a currency is always most valued in its home country. d. The pounds were more expensive in the United States because they are less available there. e. It doesn't matter where she buys the pounds, since she can't use U.S. money anyway once she's in England.
Which statement is FALSE?
A. Rent control is a price ceiling. B. Usury laws can lead to a surplus of loanable funds. C. The government, to encourage family farms to stay in business, created price supports for corn and wheat. D. Price ceilings prevent prices from rising.