Fill in the blanks. Poorer countries have a ________ demand for U.S. wheat because they usually ________.

A) less elastic; find other substitutes
B) less elastic; can't find other substitutes
C) more elastic; can't find other substitutes
D) more elastic; find other substitutes

Louis agreed to provide all the apples that Cindy's Cider Mill will need at $8 per bushel unless weather conditions require additional labor to be hired. The rate would then be $8.50 per bushel. A freeze warning required Louis to hire 10 additional overtime workers, raising the cost per bushel to $9.75. Louis wants to get out of his contract. Can he?

A) No, the parties expected the hardship and provided for it in their contract.
B) No, there is no hardship.
C) Yes, the contract is commercially impracticable.
D) Yes, the freeze is a supervening event.

When Celia has an income of $1,200, she consumes 30 units of good A and 55 units of good B. After Celia's income increases to $1,800, she consumes 15 units of good A and 70 units of good B. Which of the following statements is correct?

A) Both goods A and B are normal goods.
B) Both goods A and B are inferior goods.
C) Good A is an inferior good, and good B is a normal good.
D) Good A is a normal good, and good B is an inferior good.

Which of the following is the best rationale for the recommended method of accounting for advertising cost?

A) It is difficult to measure the benefit.
B) Advertising is very expensive.
C) GAAP provides no guidance for making this decision.
D) The marketing manager is in the best position to determine in which year the advertising expense should be recognized.

Which of the following is appropriate when e-mailing customers?

A) Do not be afraid to send bad news via e-mail.
B) Use flaming when appropriate in e-mails.
C) If you want to make sure that a message is understood, write it in all capital letters.
D) Use dates, salutations, and friendly closes in e-mails.
E) Send the same message several times to make sure that it reaches the intended receiver(s) .

A combination of two entities in which only one legally ceases to exist is:

A) a subsidiary.
B) a parent company.
C) a consolidation.
D) a merger.