Which statement is true?
A. The utility of a satellite dish is greater than the utility of a cell phone.
B. A $24 ticket to a Detroit Tigers baseball game provides the ticket-holder with more utility than a $75 ticket to see a Detroit Red Wings hockey game.
C. A half-hour swimming lesson would provide twelve different people with exactly the same utility.
D. No one would pay for a service that provided him with no utility.
D. No one would pay for a service that provided him with no utility.
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The process utilized to develop financial forecasts and monitor various budgets and costing models is called
a. auditing b. managerial accounting c. budgeting d. forecasting e. none of these
When estimating GDP using the income approach, aggregate income is adjusted by
A. adding net income earned abroad. B. subtracting depreciation. C. subtracting indirect business taxes. D. subtracting net income earned abroad.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. initially increases, then decreases. C. increases. D. decreases.
The proportion of the U.S. population below the poverty line
A. rises with upturns of the business cycle. B. has declined, though somewhat erratically, over the past 40 years. C. has been virtually eliminated by a vigorous "War on Poverty." D. covers roughly 20% of the same people year after year.