The rules of accounting generally require that ________ costs be used for purposes of keeping a company's financial records and for paying taxes. These costs are sometimes called ________ costs
A) economic; legal
B) real; explicit
C) total; economic
D) explicit; accounting
Answer: D
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A decrease in nominal gross domestic product necessarily entails a decrease in
A) both real output and the price level. B) either real output or the price level (or both). C) real output and employment. D) the price level and employment.
If managers ensure zero percent product failure, all of the following are true except which one?
A) Obtaining zero percent product failure is not likely to be possible. B) Obtaining zero percent product failure is likely to make the product very expensive. C) The product would never fail. D) Obtaining 100 percent product perfection is likely to be possible.
Which of the following is the best example of a consumption good?
a. mp3 player b. farm c. factory d. bulldozer
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. Following the implementation of this tax, the total amount of emissions reduction in this industry will be
________ tons. A. 25 B. 50 C. 75 D. 100