The instructions and rules for the alternative minimum tax are generally
A. far easier to understand than the instruction and rules for the 1040.
B. no more or less difficult to understand than the instructions and rules for the 1040.
C. far easier to understand than the instruction and rules for the 1040EZ.
D. much more complicated than the instructions and rules for the 1040.
Answer: D
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A good synonym for elasticity would be
a. stability b. volatility c. stickiness d. demand e. responsiveness
Which of the following is TRUE about the World Bank?
A. It is a U.S. agency that specializes in development loans. B. It is a multinational agency that specializes in development loans. C. It is made up of all central banks in the world. D. It is a U.N. sponsored agency that specializes in development loans.
Which of the following is an example of the economies of scale argument for increased profits for large financial holding companies?
A. Financial holding companies are well diversified so risk is reduced. B. Financial holding companies offer a wide array of services under one name. C. Financial holding companies need only one CEO, one Board of Directors, and one accounting system regardless of size. D. The profitability of financial holding companies does not rely on one particular line of business.
Suppose that a town has two major bottling plants. One of these bottling plants is unionized and the union has just negotiated a 7% wage increase each year for the next two years. Which of the following is most likely to occur?
A. The only effect will be that the price charged by the unionized bottling plant will increase to cover the additional costs of labor. B. The price of labor in the unionized bottling plant will increase, but there will be no changes in the price of labor in the nonunionized bottling plant. C. The price of labor will change in both the unionized and nonunionized bottling plants, but no other input markets will be affected. D. The price of labor will change in both the unionized and nonunionized bottling plants. Employment of labor and other inputs is also likely to change in both bottling plants.