The face value of a bond:

A) Is defined as the current market price.
B) Includes the principal plus the total interest due.
C) Is commonly defined as $10,000.
D) Is the principal amount paid at maturity.
E) Is defined as the principal amount minus the interest due at maturity.

We would expect a cartel to achieve:

A) both allocative efficiency and productive efficiency.
B) allocative efficiency but not productive efficiency.
C) productive efficiency but not allocative efficiency.
D) neither allocative efficiency nor productive efficiency.

In which of the following instances would the court most likely hold the contract to be void on the basis of a mistake?

A) Barry and Mary contracted for the sale and purchase of a boat for the price of $1200. When the contract was written up, the price was incorrectly stated as $1700.
B) Two parties contracted for a shipload of fish, but unknown to both parties, at the time of the contract the ship had sunk and the fish had been lost.
C) Carson and Leno had a serious misunderstanding about a term in the contract and the court found that the more reasonable interpretation was that of Leno.
D) Sarah bought three rolls of wallpaper, but found she had made a mistake, since two would have been sufficient.
E) Although the seller said nothing to the buyer about the characteristics of the answering machine, the buyer bought it, thinking that it would tell him the date and time of the call. Later, he learned that it did not perform this function.

Job simplification has the advantages of workers being easier to train, supervise, and replace since the jobs do not require complex skills.

Which one of the following is the best example of functional animation?

A) Having each bullet point fly from the left side of the screen
B) Moving a color bar on the screen to highlight the steps in a process
C) Using a cartwheel effect to bring in a block of text from outer space
D) Making a clipart image spin around in circles
E) Using emoticons and cartoons to soften the message

General partners differ from limited partners only in the amount of input they have in partnership decisions.