In 2016, interest payments on the national debt accounted for almost _____ of federal outlays
a. 7 percent
b. 25 percent
c. 14 percent
d. 52 percent
e. 40 percent
a
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If the market for roller blades is at a competitive equilibrium, and there are no external costs or benefits, then
A) marginal social benefit is equal to marginal social cost. B) the sum of consumer surplus and producer surplus is maximized. C) resources are being used efficiently. D) All of the above answers are correct.
How will the exchange rate (foreign currency per dollar) respond to a decrease in the relative rate of productivity growth in the United States in the long run?
A) Exchange rates will fall. B) Exchange rates will be unaffected by changes in the relative rate of productivity growth in the United States, both in the short run and in the long run. C) Exchange rates will rise. D) The exchange rate will be affected in the short run, but not in the long run.
The final goods businesses keep for themselves are called
A) assets. B) savings. C) investment. D) sunk costs. E) intermediate goods.
Following is selected financial information from JM Smucker Co. for the year ended April 30, 2018 ($ millions).
Following is selected financial information from JM Smucker Co. for the year ended April 30, 2018 ($ millions).
| Current assets, end of year | $1,555.0 | Long-term liabilities, end of year | $6,376.3 |
| Cash, end of year | 192.6 | Stockholders' equity, end of year | 7,891.1 |
| Cash from investing activities | (277.6) | Cash from operating activities | 1,218.0 |
| Cost of products sold | 4,521.0 | Total assets, beginning of year | 15,639.7 |
| Total liabilities, end of year | 7,410.1 | Revenue | 7,357.1 |
| Cash from financing activities* | (914.6) | Total expenses, other than cost of | 1,497.5 |
| Stockholders' equity, beginning of year | 6,850.2 | product sold | |
| Dividends paid | 350.3 |
* Cash from financing activities includes the effects of foreign exchange rate fluctuations.
e. Compute profit margin (PM).
f. Compute asset turnover (AT).
g. Compute ROE.