Related to the Economics in Practice on p. 475: During normal economic conditions, a software company like Oracle is likely to have an inventory turnover ratio that is ________ an appliance manufacturer like Whirlpool.
A. larger than
B. smaller than
C. close to zero compared to
D. equal to
Answer: A
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If there is a surplus of loanable funds
a. the quantity of loanable funds demanded is greater than the quantity of loanable funds supplied and the interest rate is above equilibrium. b. the quantity of loanable funds demanded is greater than the quantity of loanable funds supplied and the interest rate is below equilibrium. c. the quantity of loanable funds supplied is greater than the quantity of loanable funds demanded and the interest rate is above equilibrium. d. the quantity of loanable funds supplied is greater than the quantity of loanable funds demanded and the interest rate is below equilibrium.
In the United States, the federal minimum wage is legislated in nominal terms. This means that
A. the federal minimum wage historically decreases in value during stretches when the minimum wage is not increased. B. unemployed workers collect government assistance equal to the minimum wage. C. employers do not have to pay payroll taxes on wages paid to minimum wage workers. D. the government pays the minimum wage to all local, state, and federal workers. E. the federal minimum wage is indexed for inflation.
Refer to Table 11-7. What is the variable cost of production when the firm produces 115 lanterns?
A) $1,556 B) $1,157 C) $956 D) $10.05
The percentage of checkable deposits that banks and other financial intermediaries are required to keep in cash reserves is known as:
a. the fractional reserve requirement. b. the excess reserve requirement. c. the required reserve ratio. d. the discount rate. e. M1.