Under SFAS No. 13, equal monthly rental payments for a particular lease should be charged to rental expense by the lessee for which of the following?
Capital lease Operating lease
a. Yes No
b. Yes Yes
c. No No
d. No Yes
Ans: d. No Yes
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Which of the following can an economist predict with the most accuracy?
a. how Gwen will respond to an increase in the price of down jackets b. how Larry, Terry, and Mateo will respond to a decrease in the price of orange juice c. how a group of ten will respond to an increase in the price of motorcycles d. how a group of 100 will respond to a decrease in the price of cell phones
A legal limit on the quantity of a good that may be imported is called a(n) ________.
A. trade limit B. import tax C. quota D. tariff
To close an inflationary gap through fiscal policy, the government should
A. reduce taxes in order to stimulate investment, and thus increase aggregate supply. B. increase government spending and taxes in order to both increase aggregate demand and aggregate supply. C. decrease government spending in order to increase aggregate supply. D. decrease government spending in order to reduce aggregate demand.
Assume that a manufacturer of stereo speakers purchases $40 worth of components for each speaker. The completed speaker sells for $70. The value added by the manufacturer for each speaker is:
A. $110. B. $30. C. $40. D. $70.