2023 State FBM

An obligation to pay, such as a loan or account payable

• Debit

• Direct cost

• Debt

• Equity

The true annual rate at which interest is charged on a loan is called _________?

• APR

• Annual Percentage Rate

• Interest Rate

• Nominal Rate

Holding all else constant

• Ceteris Paribus

• Cetal Oslandius

• Blissus leucopterus

• Sebum Maribus

All real-world economies are

• Market

• Command

• Mixed

• All of these

In a market economy, price serves to:

• Exclude certain buyers

• Determine production levels and ration consumption levels

• Mark up wholesale product costs by a preset percentage

• All of the above

A producer is:

• An individual who make a good or service

• A Firm that produces a product

• A business that makes a product and sells it for profit

• All of these are true

ROA is the acronym for Return On Annuity

• True

• False

The difference between current assets and current liabilities with respect to liquidity is called:

• Net value

• Working capital

• Asset valuation

• Depreciation

Rule of 72

• The year that the Board of Trade was founded

• The time it takes for an investment to double in value

• The postulate that assumes the value of land in sections

• The number of founding members that regulate our economy

Income received from the total physical product:

• Income

• Sales

• Total revenue

• Marginal revenue