What is scarcity?

A.

The study of how people decide what they want

B.

The study of the types of products available in an economy

C.

When people want more of something than is available

D.

When people do not want the products that are available

Richard won a lottery that will pay him $460000 at the end of each of the next twenty years. Assuming an appropriate interest rate is 8% compounded annually, what is the present value of this amount?

Joe runs a restaurant. He pays his employees $200,000 per year. His ingredients cost him $50,000 per year. Prior to running his restaurant, Joe was a lawyer earning $150,000 per year.

Which of the following is a transportation job? A - Forest and conservation worker B - Events planner C - Air traffic controller D - Industrial engineer

What OSHA Act requires employers to "furnish to each of his/her employees employment and a place of employment which are free from recognized hazards that are causing or are likely to cause death or serious physical harm to his/her employees"?

Mr. Mercury, Inc. bought 25% of Hermes Corp.'s outstanding common stock on January 2, 2018, for $500,000. The carrying amount of Hermes' net assets at the purchase date totaled $1,500,000.

Pool Line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we have waited a lifetime for." The cleaning system is very effective and recommended by all consumer magazines.

Use the following example to answer the following questions: Imagine that Stella deposits $25,000 in currency (which she had been storing in her closet) into her checking account at the bank.

Barr Corp. started a long-term construction project in 20X0. The following data relate to this project: Contract price $4,200,000 Costs incurred in 20X0 $1,750,000 Estimated costs to complete $1,750,000 Progress billings $900,000 Collections on

Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of $120,000 in exchange for a 30 percent interest in the Alpha Partnership. Alpha will assume the mortgage on the building.

Nareen is single, 68 years old, and reports the following in 2018: a. $12,000 alimony received (divorced in 2010) b. $82,520 Schedule C profit c. $3,500 SEP (self-employed pension) plan contribution d. $7,150 qualified dividends e.