please zoom in to see Question 9Which of the following illustrates the concept of externalaties?Smoking harms the health of the smokerO An increase in the price of sugar raises the price paid by consumers of soda, thereby disadvantaging these consumersO A hurricane destroys a production plant causing the owner of the plant to spend more money rebuildingO Pollution by a coal mining plant causes a farmer to spend more moneyfertilizer to improve his cropQuestion 10Which of the following statements is TRUE?Of Jane gets a wage increase of 4% but inflation is 5%, her real income decreasesO When petroleum prices increase due to war in Ukraine this will cause demand-pull inflationJohn is a banker on a fixed income, this means he will not be affected by high inflation ratesO None of the aboveQuestion 11In 2019 the Federal Government had a revenue of $ 3.4 trillion and the spending was equal to $ 4.5 trillion. This means:There was a budget surplus in 2019There was contractionary fiscal policy in 2019There was a budget deficit in 2019O There was inflation in 2019Question 12In the market for Widgets, the equilibrium price is $ 20 and the equilibrium quantity is 5000 Widgets, which of the following statements is FALSE?If the government sets the price floor for widgets at $ 25 there will be a surplus of widgets in the marketIf the government sets a price ceiling at $ 15 companies will increase the quantity supplied○ If the price ceiling is set at $ 15 there will be a shortage of Widgets in the marketO None of the aboveQuestion 13Which of the following would not count as part of US GDP in 2019O Jane purchases 100 shares of stock in AmazonO Boeing (a company based in Chicago) sells 10 airplanes to NorwayO Paul paid rent of $12,000 for his apartment in Maryland in 2019O Luigi, a foreign investor in New York, produces furniture worth $ 200,000 in 2019

The term "external costs," which is often referred to as "externalities," describes the economic…

Which of the following illustrates the concept of externalaties? OSmoking harms the health of the smoker O An increase in the price of sugar raises the price paid by consumers of soda, thereby disadvantaging these consumers A hurricane destroys a production plant causing the owner of the plant to spend more money rebuilding O Pollution by a coal mining plant causes a farmer to spend more money on fertilizer to improve his crop

Which of the following illustrates the concept of externalaties? OSmoking harms the health of the smoker O An increase in the price of sugar raises the price paid by consumers of soda, thereby disadvantaging these consumers A hurricane destroys a production plant causing the owner of the plant to spend more money rebuilding O Pollution by a coal mining plant causes a farmer to spend more money on fertilizer to improve his crop

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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