Using the following year-end information for Calvin’s Clothing, calculate the current ratio and acid-test ratio for the business: Cash $ 51,680
Short-term investments 8,000
Accounts receivable 46,000
Inventory 150,000
Prepaid expenses 8,520
Accounts payable 102,000
Other current payables 30,100
a. 1.00 and 1.25
b. .50 and 1.25
c. 2.50 and 1.25
d. 2.00 and 0.80
e. 1.00 and 0.80

The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries. c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.