Under the adaptive method of estimating expected sales in the simple acceleration theory, if a firm's actual sales increase,
A) expected sales will increase if j is greater than zero.
B) expected sales will remain the same if j equals zero.
C) expected sales will equal the previous period's actual sales if j equals one.
D) All of the above are correct.
D
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When income is $15,000, the amount of income taxes owed is $2,000; when income increases to $20,000, the amount owed increases to $3,000. The average income tax rate when a person earns $15,000 is
A) 75 percent. B) 15 percent. C) 13.3 percent. D) 20 percent.
If the supply of skilled workers is increased such that it is equal to the supply of unskilled workers, we can expect:
a. wages of skilled workers to be equal to wages of unskilled workers. b. wages of skilled workers to be lower than wages of unskilled workers. c. wages of skilled workers to be higher than wages of unskilled workers. d. wages of unskilled workers to fall from its current level. e. wages of both skilled and unskilled workers to remain unaffected.
Which of the following has a more elastic demand?
a. a hamburger b. an automobile c. breakfast cereal d. microwave oven
A financial instrument would include:
A. only a written obligation and a specified date. B. only a written obligation and a transfer of value. C. a written obligation, a transfer of value, a specific date for payment, uncertain conditions. D. a written obligation, a transfer of value, a future date, and certain conditions.