Possible goals of Not-For-Profit (NFP) enterprises include all of the following EXCEPT:
a. maximize total costs
b. maximize output, subject to a breakeven constraint
c. maximize the happiness of the administrators of the NFP enterprise
d. maximize the utility of the contributors
e. a and c
a
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Suppose you borrow $1,000 to purchase a car. Which of the following correctly represents the changes in your personal balance sheet after the bank lends the money, but before you spend it?
a. Assets: loan, +$1,000 . Liabilities and net worth: checking deposit, +$1,000 b. Assets: loan, -$1,000 . checking deposit, +$1,000 . Liabilities and net worth: no change c. Assets: loan, +$1,000 . checking deposit, -$1,000 . Liabilities and net worth: no change d. Assets: checking deposit, +$1,000 . Liabilities and net worth: loan, +$1,000 e. Assets: checking deposit, +$1,000 . Liabilities and net worth: loan, -$1,000
Market economies are distinguished from other types of economies largely on the basis of
a. the political affiliations of government officials. b. the process by which government officials are elected or appointed. c. the ways in which scarce resources are allocated. d. the number of retail outlets available to consumers.
Inflation that occurs when total spending is greater than the economy's ability to produce output at the existing price level is:
a. Unanticipated inflation b. Cost-push inflation c. Anticipated inflation d. Demand-pull inflation
At an output level of zero, total cost is zero.
Answer the following statement true (T) or false (F)