The Aristocrat Corporation has taken out a loan to buy manufacturing equipment. The loan represents ________ for the company
A) a bond B) a liability C) equity D) an asset
B
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An optimal decision is one that chooses
A. the most desirable alternative among the possibilities permitted by the resources available. B. the lowest cost method of meeting goals, without regard to quality or any other feature. C. among various possible goals and offends no one, so that all are equally happy. D. among equally important goals, and thereby avoids the “indispensable necessity” syndrome. E. among possible goals in such a way that spends as little money as possible.
Starting from an initial long-run equilibrium, under the adaptive expectations hypothesis, a shift to a more expansionary policy will increase
a. prices and unemployment in the long run. b. real output in the short run but not in the long run. c. real output in the long run but not in the short run. d. real output in both the long run and the short run.
Which of the following is not a requirement for markets to be efficient?
a) perfect information b) rational behavior by all agents c) complete markets d) competition in production e) the absence of transaction costs
Which of the following is not an example of a monopolistically competitive market?
A) automobile producers B) supermarkets C) gas stations D) makers of women's clothing