Margo is an accountant at a manufacturing firm. Which of the following tasks is most likely to be part of Margo’s duties at that firm?
a. to keep records of the payments received when the firm’s output is sold
b. to develop new processes that will increase production output
c. to advertise for new employees and oversee hiring and promotions
d. to institute policies that will decrease waste on the production floor
a. to keep records of the payments received when the firm’s output is sold
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In the short run, a reduction in the price of oil will cause
A) a reduction in output. B) an increase in the price level. C) a reduction in the interest rate. D) all of the above E) none of the above
What were the two basic means of control by government as substitute for, or to supplements to, market forces in monopolized industries?
What will be an ideal response?
Refer to the information provided in Table 36.2 below to answer the question(s) that follow. Table 36.2 PointAggregate Income (Y)Aggregate Consumption (C) A 10 14 B 20 23 C 30 25 D 40 26 E 50 34 F 60 39The data in the table was used to estimate the following consumption function: C = 12 + 0.4YRefer to Table 36.2. The error for point B is equal to
A. -3. B. -2. C. +2. D. +3.
Economic information
a. is usually scarce and costly to acquire b. is usually available free to any decision maker c. is usually not required for rational decision making d. must be complete before any decision is made e. is usually useful only to governments