David Myers, former controller for WorldCom, pleaded guilty to falsely reporting costs for WorldCom that were ________ than they actually were, resulting in reported accounting profits for WorldCom that were ________ than their actual level
A) higher; higher B) higher; lower C) lower; lower D) lower; higher
D
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Molly needs 30 minutes to wash the car and 45 minutes to mow the lawn. Renee needs 1 hour to wash the car and 2 hours to mow the lawn. Which of the following statements is correct?
a. Molly should specialize in both tasks. b. Renee should specialize in both tasks. c. Each woman should specialize in the task in which she has the absolute advantage. d. Absolute advantage is not an appropriate guide for determining specialization. e. Neither woman should specialize.
Table 11-1 Quantity (units)18161412104Price per unit (dollars)123 4 5 6 Total cost (dollars)44 3832262014Table 11-1 shows demand and total cost schedules for the monopolist Monopoliteria. Monopoliteria’s profit-maximizing price per unit in dollars is
A. 1 B. 3 C. 5 D. 4 E. 6
Which of the following statements about markets and prices is correct?
A. In a market system, buyers and sellers must be in face-to-face contact with each other B. Prices affect the distribution of goods in a market system but not the allocation of resources C. In a market system, prices serve to ration goods and services to consumers D. The operation of a market system has little, if any, effect on the distribution of income in the economy
Other things equal, the domestic currency ________ when the domestic money supply increases relative to the foreign money supply.
A. remains unchanged in the long run. B. depreciates in the long run C. appreciates in the long run D. appreciates in the short run but returns to its initial value in the long run.