When comparing the salaries of a superstar CPA and a superstar golfer,
a. both can earn tremendously high salaries because both can meet with millions of clients.
b. the superstar CPA will not earn as much as the superstar golfer because superstar accountants do not have access to the same sophisticated technologies that superstar golfers do.
c. the superstar CPA will not earn as much as the superstar golfer because a superstar accountant can only work with a limited number of clients per day, whereas millions of fans can enjoy the services provided by a superstar golfer on a given day by watching a televised tournament.
d. the superstar CPA will not earn as much as the superstar golfer because customers are unable to distinguish superstar accountant from a mediocre accountant.
c
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The above table presents the balance sheet of the TBK commercial bank. If the desired reserve ratio is 25 percent, what is this bank's desired reserves?
A) $120 B) $150 C) $175 D) $30
Which of the following statements are false?
a. b and d. b. Marginal cost is always rising. c. Marginal and average total costs are equal at the most efficient production level. d. The AFC and AVC curves do not cross. e. The AFC and ATC curves do not cross.
The larger is the reserve ratio, the:
A. smaller is the money multiplier, and the less money will be created in the economy. B. smaller is the money multiplier, and the more money will be created in the economy. C. larger is the money multiplier, and the less money will be created in the economy. D. larger is the money multiplier, and the more money will be created in the economy.
Recall the Application about how cable TV providers respond to the threat of potential competitors to answer the following question(s).Recall the Application. Because cable TV had to fend off potential entrants into their markets, cable TV providers are considered ________ as long as they successfully deterred entry.
A. insecure monopolists B. duopolists C. perfect competitors D. monopolistic competitors