Economic models

a. are useful because they do not omit any real-world details.

b. are usually composed of diagrams and equations.

c. are usually plastic representations of the economy.

d. are not useful because they omit many real-world details.

If a product is still in development, the business plan needs to explain its status. A True B. False

Judd owns a struggling farm that is not making a lot of money. He wonders if he is doing something wrong and brings in an expert to teach him better methods for running his farm. Judd most likely hired someone who works inplant systems.

Erin promises to pay her friend Stephanie$10,000 if Stephanie refrains from eating any foods that contain animal products. Stephanie agrees, performs her part of the bargain, and asks for the money.

Dexter Metals, paid its first annual dividend yesterday in the amount of $0.18 a share. The company plans to double each annual dividend payment for the next 3 years. After that time, it plans to pay $1.

If 10,600 units were completed using 32,000 direct labor hours costing $480,000, the direct labor standard is 3 hours of direct labor at $15.40 per hour, the direct labor rate variance and direct labor efficiency variance are: Rate Efficiency a.

The ultimate goal of the marketing process is to do which of the following?

What effect do you think seasonal demand might have on the price of goods? Explain why.

Welfare economics explains which of the following in the market for televisions? a. The government sets the quantity of televisions; firms respond to the quantity by charging a specific price. b.

Cardinal Company is considering a five-year project that would require a $2,890,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%.

Parwin Corporation plans to sell 42,000 units during August. If the company has 17,500 units on hand at the start of the month, and plans to have 18,500 units on hand at the end of the month, how many units must be produced during the month?