If an insurance company issues a disability income policy that it cannot cancel or for which it cannot increase premiums, the type of renewability that best desribes this policy is called

On the supply side of the market, when the price of a good increases the quantity supplied of the good

Brief Exercise 4-09 At Raymond Company, the following errors were discovered after the transactions had been journalized and posted. 1.

suggests that the accumulation of knowledge capital can be slowed because knowledge is both nonrival and nonexcludable. How does the federal government intervene in the market to increase the amount of knowledge capital?

Demographics is the most difficult factor of differentiated marketing to determine. True False

Cost-based pricing entails establishing prices based on the costs of successfully making and marketing a product and earning an acceptable margin or profit. True or False?

With the federal funds rate near zero and the economy still struggling, the Fed began buying 10-year Treasury notes and certain mortgage-backed securities to keep interest rates low. This policy is known as

Sugar, Inc. sells $529,300 of goods during the year that have a cost of $428,600. Inventory was $30,083 at the beginning of the year and $34,338 at the end of the year.

Assume that Jack and Hal and Sophia enter into a contract for the sale of the restaurant. Hal and Sophia, for their own protection, put a clause in the contract that says the sale is contingent upon an independent appraisal indicating that the

One of Simplex Company's products has a contribution margin of $44,000 and fixed costs totaling $54,000. If the product is dropped, $37,000 of the fixed costs will continue unchanged.

When technology spillover occurs, a. those firms engaged in technology research should be taxed by the government. b. a firm's research yields technological knowledge that can then be used by society as a whole. c.