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Multiple choice questions (15) 1

Economics

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Multiple choice questions (15)

1. Pure monopoly:

a. has never existed

b. is an economic model

c. is the best option for capitalism

d. is the best option for socialism

2. the prices producers charge to cover the cost of supply may be seen on a:

a. television economic update

b. trade journal

c. index table of interest rates

d. supply curve

3. in a competitive free market (i.e., perfect market) buyers and sellers do not have to:

a. pay for things that others enjoy

b. sell goods cheap

c. feel tax oppression from the government

d. do their own taxes

4. One of the most significant disadvantages of a monopoly is:

a. oligarch capitalization

b. no competition from international markets

c. price wars

d. high prices charged

5. D Ram prices in the U.S. were _____ in Dec-01

a. close to $1

b. better than those in potato sales

c. not comparable to those of Vietnamese markets

d. fixed

6. Pressure, rationalization, and opportunity help indicate issues that lead to:

a. NYPD law investigation

b. forensic dissecting of butterflies

c. price fixing

d. background checks

7. The U.S. has an extensive history of

a. successful battles

b. ethics in every industry

c. ethics in India

d. legislation dealing with antitrust

8. mixed economies rely on _______ to help with their deficiencies :

a. governmental policy

b. their citizens

c. good business practices

d. ethical behavior

9. which is a main view on how to address monopoly issues:

a. regulation

b. government war

c. move to a different place

d. competition above all.

10. Monopoly hinders:

a. incentives to come up with new technology.

b. all things true of a commercial enterprise

c. governmental accounting efficiency

d. socialism and Marxism.

1. By 1997, Scrushy was:
   1. A. THERE’S NOBODY BY THAT NAME IN THE CASE STUDY
   2. B. THE THIRD HIGHEST PAID CEO IN AMERICA
   3. C. NOT IN GOOD TERMS WITH INTERNATIONAL TRADERS
   4. D. A GOOD, LEADER, FULL OF COMPASSION AND JOY
   5. By 2003, Healthsouth’s earnings had been overstated by:
      1. A. $20,000
      2. B. $200,000
      3. C. $20 MILLION
      4. D. CLOSE TO $3 BILLION
   6.  
   1.  
   2. The fraud was primarily organized by:
      1. A. MR. BEAM
      2. B. RICHARD SCRUSHY
      3. C. MRS. KAREN
      4. d. do their own taxes
      1. Mr. Beam currently:
         1. A. SERVES LIFE IN PRISON
         2. B. CANNOT SLEEP DUE TO THE FRAUD
         3. C. ENJOYS MULTIPLATINUM WEALTH
         4. D. RUNS A LAWN SERVICE

      2. Question 5

      1. Beam’s perception on capital investment manipulations
         1. A. FELL WITHIN THE RULES OF ACCOUNTING
         2. B. WERE A DIRECT OMISSION OF IFRS
         3. C. DO NOT CONFORM TO AUDIT STANDARD SC 820
         4. D. WERE CONGRUENTLY AND FINANCIALLY AGREEABLE TO CPA EXPECTATIONS.