The China Department of the Coulsen Department Store had sales of $282,000, cost of goods sold of $198,750, indirect expenses of $19,875, and direct expenses of $41,250 for the current period. What is the China Department's contribution to overhead as a percent of sales?

Guy and Boyd make an oral contract whereby Guy agrees to sell Boyd 480 widgets (goods) at a price of $480.Later,the parties want to modify the contract so that the price would become $520.This modification:

A) must be in writing.
B) must be oral because the first contract was oral.
C) can be oral but need not be.
D) is unenforceable because the first contract is unenforceable.

If the demand for a good falls when income falls, then the good is called an inferior good.

A covered call position is

A) the simultaneous purchase of the call and the underlying asset.
B) the purchase of a share of stock with a simultaneous sale of a put on that stock.
C) the short sale of a share of stock with a simultaneous sale of a call on that stock.
D) the purchase of a share of stock with a simultaneous sale of a call on that stock.
E) the simultaneous purchase of a call and sale of a put on the same stock.

If a frost destroys much of the grapefruit crop,assuming a positively sloped supply curve and a negatively sloped demand curve,total surplus in the grapefruit market:

A) will increase.
B) will decrease.
C) will not change.
D) may change,but we cannot determine the change without more information.

A primary requirement for development is:

A) government control over the production of essential consumer products.
B) government control over the distribution of natural resources.
C) a high confidence in foreign currency.
D) a low and predictable inflation rate that encourages saving.
E) printing money to finance a large proportion of public outlays.

If a limited partner becomes a general partner as well in a limited partnership:

A) her share of profits will go down.
B) she will lose her managerial powers.
C) she will lose her limited liability.
D) she will lose her right to receive profits.