A decrease in wages payable during the accounting period represents a decrease in cash.
a. true
b. false
Ans: a. true
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Which of the following government actions is appropriate in a market with an external benefit?
A) taxes B) vouchers C) marketable permits D) setting a tax equal to the transactions costs E) price ceiling
A price floor that is set above market equilibrium will cause
A) an excess quantity demanded. B) a shortage. C) a surplus. D) queuing on the part of consumers.
Consumer surplus
A. is the area below demand and above market price over all the units consumed. B. is positive for all but the last unit purchased. C. for a particular unit of consumption is computed by taking the difference between demand price and market price. D. added to producer surplus provides a measure of the net gain to society from the production and consumption of the good. E. all of the above
General Motors? (GM) is the largest United Statesdash-based auto manufacturing corporation. Who is the highest ranking officer at? GM?
A. Chief executive officer B. Chief operating officer C. Chief financial officer D. Chief information officer E. Chairman of the board