Price ceilings will impose costs on society because they:

A) will eliminate long waiting lines.
B) may result in black markets,where prices are lower than the market-determined price would be.
C) lead to a smaller quantity offered on the market.
D) help businesses instead of consumers.

Price controls:

A) always increase economic efficiency.
B) always lead to more equitable results.
C) can result in inequitable outcomes.
D) are always set below the equilibrium price.

At any point in time a company can elect to use the fair value option to account for equity method investments.

A waiting-line system with one waiting line and three sequential processing stages is a multichannel single-phase system.

Refer to Figure 8-10. Suppose the government places a $3 tax per unit on this good. How many units of this good will be bought and sold after the tax is imposed?

Dapice Incorporated makes a single product--a critical part used in commercial airline seats.The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period.Data concerning the most recent year appear below: The fixed overhead volume variance is:

A) $5,121 U
B) $5,121 F
C) $21,121 F
D) $21,121 U

Identify the skills that are critical to managerial success in government. Pick five skills to discuss in detail. Why did you choose these skills? What makes them important?