Principles of Macroeconomics
Dr. Greg Richardson
I swear that I have neither given nor
received any unauthorized assistance
on this examination.
_ ( your initials)
Economics is the study of
scarcity under condition
Business Ethics ( CHP#1)
1. In discussion of business and society, why is there a tendency to focus on
large firms rather than small or medium sized firms? If so, in what ways
have these firms been affected?
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United States Supreme Court was created by: ._
upreme Court is the only court expressly created
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5. Fraud in factum:
6. In most inst
a. express warranty.
b. limited warranty.
c. implied warr
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d. may be accepted by the guardian appointed for any minor children of the offeree.
47. Arthur made a bid at an auction by calling out the amount of $250. The auctioneer acknowledged
Arthur's bid. There were no higher bids, and be
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rule requiring that a franchisor prov1de a disclosure statement to all prospective franchisees was
adopted by the: elder-a1 Tm ole
,- The Alexo Corporation has been charged in a United States court with violation (if
laws in its foreign dealings. The rm has raised the defense that its actions were
"ent of its host country. Alexo based its defense on the_ docttine. I .
p 1 " tiaw enacted and codied bygovernrnental authority.
. whether an act is legal is a common moral standard used frequently in business,
.,~ or law created by governmental authority, is used as the standard for ethical b i ' "
_ _ . The due was clause * - V. , h
' 7 use there are so many areas in which due process rights exist and require a chance to be
" "g up due process has resulted in the creation of quasi-judicial proceedings.
Due process does not require a trial
COStltutes perjury or is subjected to the same punishment as perjury- In me jun , '
false answers given in a situation other than in court or the litigation process is called the Cm .,
fake wearing. The penalties for perjury were increased substantially f
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unlawful proceeds when the transaction is designed to conceal or disguise the
eringis dened as: dSitone/i5 W MIMAR [OJSWQJ wit/9;
ssed the Racketeer Inuenced and Corrupt Organi
21. An involuntary petition in bankruptcy may not be commenced against:
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idencs, and rsgulates rightsand liabilities.
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AIe devoted to protection of indivi uals and their properti
Problem Set 10
Econ 202 (03, 04, 05) Spring 2003 (Dr. Tin-Chun Lin)
1. Implicit costs are best thought of as: (A) Variable costs. (B) Marginal costs. (C) Accounting costs. (D) Opportunity costs. (E) Sunk costs.
2. A firm is able to produce 90