If the price of a product is higher than the equilibrium, what will occur?

A. There will be a surplus.

B. There will be deflation.

C. There will be a shortage.

D. There will be unemployment.

On June 1, Davis Inc. issued an $84,000, 5%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using the 360-day year, what is the amount of interest revenue recognized by Garcia in the following year? a.

Riser Corporation was granted a patent on a product on January 1, 1998. To protect its patent, the corporation purchased on January 1, 2007 a patent on a competing product which was originally issued on January 10, 2003.

Suppose that India is currently growing at a rate of 14% per year and is producing real GDP per capita equal to $7,000, whereas the United States is currently growing at a rate of 5% per year and is producing real GDP per capita equal to $28,000.

Two firms, A and B, each currently dump 50 tonnes of chemicals into the local river. From now on both firms will require a pollution permit for each tonne of pollution dumped into the river.

Via the Internet, Porcio sabotages the computer system of Quik Chik'n Company, a fast-food restaurant operator, to alter the ingredients in the company's recipes and products so that consumers of the foods become ill. Porcio is a 1. cyberterrorist.

Rent controls force landlords to price apartments below the equilibrium price level. An immediate effect is a shortage (excess demand) of apartments, because the quantity of apartments demanded is greater than the quantity supplied at the regulated

Suppose that a worker in Freedonia can produce either 6 units of corn or 2 units of wheat per year, and a worker in Sylvania can produce ei ther 2 units of corn or 6 units of wheat per year. Each nation has 10 workers.

How can business taxes positively affect an economy? A If taxes are low, more businesses can be created. B If taxes are low, then businesses will give more of their earnings away.

Assume Joe Harry sells his 25% interest in Joe's S Corp., Inc. to Tyrone on January 29. Using the daily allocation method, how much income does Joe Harry report if Joe's S Corp., Inc.

Whirlwind Financial Corporation sends its executives to a resort in Mexico-at taxpayer's expense-to consider using the firm's cash to buy back its stock and thereby prop up the value. Many of its competitors are doing the same thing.