FBM 2023 MC

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

• APY

• Simple Interest

• Cost Basis

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 a 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