marketing services that add "time value" include:
a) transportation
b) processing
c) marketing
d) storage
e) all of the above
d) storage
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The voting members of the Federal Open Market Committee are
A) all of the members of the Board of Governors and five of the presidents of the 12 Federal Reserve banks. B) only the members of the Board of Governors. C) the presidents of the 12 Federal Reserve banks and three members of the Board of Governors. D) all of the members of the Board of Governors and all of the presidents of the 12 Federal Reserve banks.
Canada is a major world producer and exporter of wheat and a great percent of its GDP is derived from this one good. The Canadian parliament may vote to restrict trade and justify its restrictions using the
a. cheap foreign labor argument b. antidumping argument c. national security argument d. infant industries argument e. diversity of industry argument
The two principle methods of measuring Gross Domestic Product are the
A. expenditures approach and the income approach. B. domestic approach and the international approach. C. intermediate approach and the value-added approach. D. flow approach and the stock approach.
Suppose a lawn-mowing business has a mower for which it paid $1000 and workers for which they pay $10 per hour. Suppose each mower can mow a lawn per hour.
A. Their total fixed cost is $1000/lawns mowed. B. Their variable cost per lawn is $10 + $1000/lawns mowed. C. Their average fixed cost is $1000. D. Their average variable cost is $10 per lawn mowed.