Information is useful only if it can drive effective decision making.

The current ratio is more useful than working capital in making comparisons across companies.

"Caveat emptor" requires certain disclosures to be made by the buyer to the seller about the condition of the property.

A competitive firm uses two inputs and has a production function f(x1, x2)  39x.25 1x.25 2.The firm can buy as much of either factor as it likes at factor prices w1  w2  $1.The cost of producing y units of output for this firm is

A) 2(y/39) 2.
B) 39(x₁  x₂) y.
C) (x₁  x₂) /39.
D) y/78.
E) y₂/78.

To pay for social insurance programs administered by the Social Security Administration, employers, employees, and the unemployed must contribute.

Economic reasoning is based on the premise that:​

A) ​all decisions or actions are costless.
B) only non-economic decisions or actions have a cost associated with them.
C) only economic decisions or actions have a cost associated with them.
D) ​all decisions and actions have a cost associated with them.