Big-picture-thinking Annie works for detail-thinking Gus, so the two will rarely have a personality clash because they complement each other nicely
Indicate whether the statement is true or false.
Answer: FALSE
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Answer the following statements true (T) or false (F)
1.The price-specie-flow mechanism illustrated why nations could not maintain trade surpluses or trade deficits over the long run. 2.The marginal rate of transformation equals the absolute slope of a country's production possibilities frontier. 3.Assume that Germany has higher labor productivity and higher wage levels than France. Germany can produce a commodity more cheaply than France if its productivity differential more than offsets its wage differential. 4.Ricardo's theory of comparative advantage does NOT take into account demand conditions when determining relative commodity prices. 5.If Canada has a higher wage level and higher labor productivity than Mexico, Canada will necessarily produce a good at a higher labor cost than Mexico.
Thinking Cap Corp. prices its various cap designs at different price levels, ranging from $2.05 to $5.95. This is an example of optional product pricing
Indicate whether the statement is true or false
The price for a special order must be higher than ________
a. the additional variable costs plus any opportunity cost b. the contribution margin c. the total fixed and variable costs plus any opportunity cost d. the total variable costs
In which of the following situations would the effect of illegality be an exception?
A) when both parties of an illegal contract execute their agreements B) when both parties of an illegal contract are considered in pari delicto C) when person is justifiably ignorant of the law or fact that made the contract illegal D) when a person completes his act of an illegal contract but is not paid for his consideration