Which of the following is an example of a scarce factor of production?

Money

A

Food

B

Flour

C

Airplanes

D

Established knowledge

Winners and losers from free tradeConsider the market for meekers in the imaginary economy of Meekertown. In the absence of international trade, the domestic price of meekers is $23. Suppose that the world price of meekers is $24.

True or false: to promote stability in commodity markets, international commodity agreements have relied on production and export controls, buffer stocks, and multilateral contracts.

What economic activities are not included in GDP?

Match the following statements to Involves acquiring the resources necessary to run the business. appropriate terms. Distributions of cash from a corporation to its stock holders. select an appropriate term Consumed assets or services.

Smithson Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $30,000. During 2020, it wrote off $21,600 of accounts and collected $6,300 on accounts previously written off.

On March 1, 2017, Boyd Company acquired real estate, on which it planned to construct a small office building, by paying $80,000 in cash.

A. Assume that the risk-free rate is 8 percent, the required rate of return on the market (or an average-risk stock) is 13 percent, and the required rate of return on Acme Healthcare stock is 15 percent.

taxes: a. are unlikely to affect market supply and demand b. are copmulsory payments to governments c. never affect efficiency in the allocation of resourcesd. are voluntary payments to governments

Mycenaean Greece became more powerful after a. creating trade networks with Egypt b. war with Persia. c. destruction of Crete d. political consolidation in. the Dark Ages

An increase in the reserve requirement increases reserves and decreases the money supply. a. true b. false