1. A production possibilities frontier can shift outward if a. resources are shifted from the production of one good to the production of the other good.
b. the economy abandons inefficient production methods in favor of efficient production methods.
c. government increases the amount of money in the economy.
d. there is a technological improvement.
2. Microeconomics is the study of
a. how government affects the economy.
b. how money affects the economy.
c. how individual households and firms make decisions.
d. how the economy as a whole works.
3. In the circular-flow diagram, which of the following is not a factor of production?
a. capital
b. land
c. money
d. labor
4. The term used to describe a situation in which markets do not allocate resources efficiently is
a. economic meltdown.
b. the effect of the invisible hand.
c. market failure.
d. equilibrium.
5. A rational decision maker takes an action only if the
a. average benefit is greater than the average cost.
b. marginal benefit is less than the marginal cost.
c. marginal benefit is greater than both the average cost and the marginal cost.
d. marginal benefit is greater than the marginal cost.

Which of the following statements is correct? a) one drawback of forming a corporation is that it generally subjects the firm to additional regulationsb) one drawback of forming a corporation is that it subjects the firms investors to increased personal liabilitiesc) one drawback of forming a corporation is that it makes it more difficult for the firm to raise capitald) one advantage of forming a corporation is that it subjects the firm's investors to fewer taxese) one disadvantage of forming a corporation is that it is more difficult for the firm's investors to transfer their ownership interests

Required information [the following information applies to the questions displayed below.] the following data is provided for garcon company and pepper company. garcon company pepper company beginning finished goods inventory $ 13,800 $ 18,850 beginning work in process inventory 16,700 20,700 beginning raw materials inventory 8,800 13,500 rental cost on factory equipment 28,250 26,650 direct labor 22,400 37,400 ending finished goods inventory 17,300 14,300 ending work in process inventory 23,200 19,400 ending raw materials inventory 5,900 9,600 factory utilities 11,250 15,000 factory supplies used 10,900 5,700 general and administrative expenses 32,500 44,500 indirect labor 2,500 9,880 repairs—factory equipment 4,820 2,150 raw materials purchases 41,500 63,000 selling expenses 54,800 49,000 sales 238,530 317,510 cash 33,000 23,700 factory equipment, net 222,500 124,825 accounts receivable, net 13,400 23,950 required: 1. complete the table to find the cost of goods manufactured for both garcon company and pepper company for the year ended december 31, 2017. 2. complete the table to calculate the cost of goods sold for both garcon company and pepper company for the year ended december 31, 2017.

Marta communications, inc. has provided incomplete financial statements for the month ended march 31. the controller has asked you to calculate the missing amounts in the incomplete financial statements. use the information included in the excel simulation and the excel functions described below to complete the task