Economics and Effective Accounting
Effective Accounting is an information system that measures, processes, and communicates
financial information about an economic entity.
Accountants focus on the needs of deci
Economic Exam Questions with Answers
1. Consider a market characterized by a Herfindahl-Hirschman index of 5,000. One of the
firms in this market has a Lerner index of 0.89 and is considering a horizontal merger with
a competing firm. Based on this inform
"Contemplating any business act, an employee should ask himself whether he would be
willing to see it immediately described by an informed and critical reporter on the front
page of his local paper, there to be read by his
How many columns in an Excel Spreadsheet?
How many rows?
How many cells?
Do I need to know these exact amounts?
NO, but you should have a general clue!
1) What effect does the insertion of rows at the top of a spreadsheet have?
A)Formulas get ruined and m
Managerial Economics Exam Questions with Answers:
1. a) Which of the following is correct?,_b) The MR = MC rule applies: c)
They must all be present before price discrimination can be
practiced;1._2._3._, d) What do economies of scale, the
ownership of es
Market Power Exam Questions with Answers
1. a) firm with market power in pricing faces a _, b) and able to
practice_, c) a price taking firm or firm facing perfectly elastic demand is
a) downward sloping demand curve, b)price discrimination, c) pr
Market Structure Exam Questions with Answers
1. a) Disputes over resource ownership are the domain of _ b) Antitrust
law_, c) Robbery reduces economic efficiency by_ d) a
market failure occurs when_ e) sources of market failure
a)Property Law, b) hel
Oligopoly Exam Questions with Answers
1. a) If many people in a community get flu shots, the whole community benefits including
those that did not get flu shots. This is one illustration of _, b) what are
the two characteristics that differentiate public
Monopoly Exam Questions with Answers
1. The cornerstone of antitrust legislation in the U.S. a) is the:_ b) It
outlawed:_ c) The legislation that prohibited "every contract. or
conspiracy in restraint of trade and commerce. " is the:_
a) Sherman Act b) Re
Philosophical Grounding of Ethics
1. Divine Command Theory (Natural Law)
2. Ethical Egoism Theory
4. Categorical Imperative
5. Moral Relativism: Circumstantial Ethics
Resolving Ethical Dilemmas
Above all, do n
Continuity Correction Factor:
IMPORTANT: When using a continuous distribution in place of a discrete
distribution, we need to compensate and do so by using the CONTINUITY
Continuity Correction Factor Since a finite number of values can
Central Limit Theorem:
Tire Company Example: A tire company finds the lifespan for one brand of its tires is normally
distributed with a mean of 48,900 miles and a standard deviation of 5000 miles.
o If the manufacturer is willing to replace around 10% of
Important Items to Remember for Distribution:
Things to remember:
- Many things in life are Normally Distributed.
- We can use the thermometer table for any Normal Distribution: z=(x-mean)/SD
- The z-score tells us 2 things: distance from the mean AND dir