Question
15. Arbitrage is the activity of earning a profit by buying something at a ______ price in one market and selling it at a ____price
15. Arbitrage is the activity of earning a profit by buying something at a ______ price in one market and selling it at a ____price in another.
- a. Low : higher
- b. Higher : low
- c. Certain : higher
- d. Low : Certain
16. Arbitrage depends on
- a. Alertness
- b. Speed
- c. Income
- d. Velocity
17. Investment in education can promote
- a. Crime
- b. Marriage
- c. Innovation
- d. Production
18. Patents and copyright policies can encourage
- a. Innovation
- b. Dividends
- c. Sales
- d. Expenses
19. What are the mechanisms through which the market economy selects superior ways of doing things and rejecting inferior ways?
- a. Losses
- b. Expenses
- c. Losses and Profits
- d. Revenues
20. According to Schumpeter, the source of innovation and technological change is derived from competition among
- a. Government agencies
- b. Businesses
- c. Not-for-profit
- d. Entrepreneurs
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Principles Of Cost Accounting
Authors: Edward J. Vanderbeck
15th Edition
978-0840037039, 0840037031
