Arrow’s impossibility theorem states:
a. a unique political equilibrium for a public choice never exists.
b. a unique political equilibrium for a public choice cannot exist under majority rule.
c. a unique political equilibrium can exist if there is majority rule and multi-peaked preferences.
d. a unique political equilibrium for a public good cannot exist under unanimous consent.
b. a unique political equilibrium for a public choice cannot exist under majority rule.
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Quality Heating Company has the following liabilities at year end: Notes Payable $20,000 Accounts Payable 15,000 Unearned Contract Revenue 9,000 Wages Payable 2,900 Interest Payable 700 Income Taxes Payable 1,500
a. Which of these accounts probably was created at the end of the fiscal year as a result of an accrual? Which probably was adjusted at year end? Explain your answer. b. Which adjustments probably reduced net income? Which probably increased net income? Explain your answers.
A company has set a target rate of return of 16% for its investment center. An investment center manager in this company would
a. acquire assets that would increase divisional income by more than 16%. b. sell all assets that do not generate divisional income of more than 16%. c. acquire assets that would increase sales by more than 16%. d. acquire any technologically advanced assets that would cause costs to be reduced by 16% or more.
___________ refers to a nation's ability to produce more of a good or service than another country for the same or lower cost of inputs.
Fill in the blank(s) with the appropriate word(s).
Among the support activities in the generic value chain is
A. marketing and sales. B. technology development. C. operational management. D. outbound logistics. E. research and development.