A company purchased $1,800 of merchandise on December 5. On December 7, it returned $200 worth of merchandise. On December 8, it paid the balance in full, taking a 2% discount. The amount of the cash paid on December 8 equals:

A company purchased $1,800 of merchandise on December 5. On December 7, it returned $200 worth of merchandise. On December 8, it paid the balance in full, taking a 2% discount. The amount of the cash paid on December 8 equals:

Question 19   A company purchased $1,800 of merchandise on … Read More...
Spontaneously generated funds are generally defined as follows: Assets required per dollar of sales. A forecasting approach in which the forecasted percentage of sales for each item is held constant. Funds that a firm must raise externally through borrowing or by selling new common or preferred stock. Funds that arise out of normal business operations from its suppliers, employees, and the government, and they include spontaneous increases in accounts payable and accruals. The amount of cash raised in a given year minus the amount of cash needed to finance the additional capital expenditures and working capital needed to support the firm’s growth.

Spontaneously generated funds are generally defined as follows: Assets required per dollar of sales. A forecasting approach in which the forecasted percentage of sales for each item is held constant. Funds that a firm must raise externally through borrowing or by selling new common or preferred stock. Funds that arise out of normal business operations from its suppliers, employees, and the government, and they include spontaneous increases in accounts payable and accruals. The amount of cash raised in a given year minus the amount of cash needed to finance the additional capital expenditures and working capital needed to support the firm’s growth.

Spontaneously generated funds are generally defined as follows: Assets required … Read More...
Many people believe that choosing a job and choosing a career are the same. You know my position; I believe a JOB is Just over Broke. What is your position? Explain the differences between a job and a career.

Many people believe that choosing a job and choosing a career are the same. You know my position; I believe a JOB is Just over Broke. What is your position? Explain the differences between a job and a career.

A job is essentially one thing an individual do to … Read More...
23. Wu Systems has the following balance sheet. How much net working capital does the firm have? Cash $ 100 Accounts payable $ 200 Accounts receivable 650 Accruals 350 Inventory 550 Notes payable 350 Current assets $1,300 Current liabilities $ 900 Net fixed assets 1,000 Long-term debt 600 Common equity 300 Retained earnings 500 Total assets $2,300 Total liab. & equity $2,300 a. $675 b. $750 c. $825 d. $908 e. $998

23. Wu Systems has the following balance sheet. How much net working capital does the firm have? Cash $ 100 Accounts payable $ 200 Accounts receivable 650 Accruals 350 Inventory 550 Notes payable 350 Current assets $1,300 Current liabilities $ 900 Net fixed assets 1,000 Long-term debt 600 Common equity 300 Retained earnings 500 Total assets $2,300 Total liab. & equity $2,300 a. $675 b. $750 c. $825 d. $908 e. $998

Answer: b Cash                                                                  $   100                Accounts payable                                           $   200 Accounts … Read More...
1-Two notions serve as the basis for all torts: wrongs and compensation. True False 2-The goal of tort law is to put a defendant in the position that he or she would have been in had the tort occurred to the defendant. True False 3-Hayley is injured in an accident precipitated by Isolde. Hayley files a tort action against Isolde, seeking to recover for the damage suffered. Damages that are intended to compensate or reimburse a plaintiff for actual losses are: compensatory damages. reimbursement damages. actual damages. punitive damages. 4-Ladd throws a rock intending to hit Minh but misses and hits Nasir instead. On the basis of the tort of battery, Nasir can sue: Ladd. Minh. the rightful owner of the rock. no one. 4-Luella trespasses on Merchandise Mart’s property. Through the use of reasonable force, Merchandise Mart’s security guard detains Luella until the police arrive. Merchandise Mart is liable for: assault. battery. false imprisonment. none of the choice 6-The extreme risk of an activity is a defense against imposing strict liability. True False 7-Misrepresentation in an ad is enough to show an intent to induce the reliance of anyone who may use the product. True False 8-Luke is playing a video game on a defective disk that melts in his game player, starting a fire that injures his hands. Luke files a suit against Mystic Maze, Inc., the game’s maker under the doctrine of strict liability. A significant application of this doctrine is in the area of: cyber torts. intentional torts. product liability. unintentional torts 9-More than two hundred years ago, the Declaration of Independence recognized the importance of protecting creative works. True False 10-n 2014, Cloud Computing Corporation registers its trademark as provided by federal law. After the first renewal, this registration: is renewable every ten years. is renewable every twenty years. runs for life of the corporation plus seventy years. runs forever. 11-Wendy works as a weather announcer for a TV station under the character name Weather Wendy. Wendy can register her character’s name as: a certification mark. a trade name. a service mark. none of the choices 12-Much of the material on the Internet, including software and database information, is not copyrighted. True False 13-In a criminal case, the state must prove its case by a preponderance of the evidence. True False 14-Under the Fourth Amendmentt, general searches through a person’s belongings are permissible. True False 15-Maura enters a gas station and points a gun at the clerk Nate. She then forces Nate to open the cash register and give her all the money. Maura can be charged with: burglary. robbery. larceny. receiving stolen property. 16-Reno, driving while intoxicated, causes a car accident that results in the death of Santo. Reno is arrested and charged with a felony. A felony is a crime punishable by death or imprisonment for: any period of time. more than one year. more than six months. more than ten days. 17-Corporate officers and directors may be held criminally liable for the actions of employees under their supervision. True False 18-Sal assures Tom that she will deliver a truckload of hay to his cattle ranch. A person’s declaration to do a certain act is part of the definition of: an expectation. a moral obligation. a prediction. a promise. 19-Lark promises to buy Mac’s used textbook for $60. Lark is: an offeror. an offeree a promisee. a promisor. 20-Casey offers to sell a certain used forklift to DIY Lumber Outlet, but Casey dies before DIY accepts. Most likely, Casey’s death: did not affect the offer. shortened the time of the offer but did not terminated it. extended the time of the offer. terminated the offer.

1-Two notions serve as the basis for all torts: wrongs and compensation. True False 2-The goal of tort law is to put a defendant in the position that he or she would have been in had the tort occurred to the defendant. True False 3-Hayley is injured in an accident precipitated by Isolde. Hayley files a tort action against Isolde, seeking to recover for the damage suffered. Damages that are intended to compensate or reimburse a plaintiff for actual losses are: compensatory damages. reimbursement damages. actual damages. punitive damages. 4-Ladd throws a rock intending to hit Minh but misses and hits Nasir instead. On the basis of the tort of battery, Nasir can sue: Ladd. Minh. the rightful owner of the rock. no one. 4-Luella trespasses on Merchandise Mart’s property. Through the use of reasonable force, Merchandise Mart’s security guard detains Luella until the police arrive. Merchandise Mart is liable for: assault. battery. false imprisonment. none of the choice 6-The extreme risk of an activity is a defense against imposing strict liability. True False 7-Misrepresentation in an ad is enough to show an intent to induce the reliance of anyone who may use the product. True False 8-Luke is playing a video game on a defective disk that melts in his game player, starting a fire that injures his hands. Luke files a suit against Mystic Maze, Inc., the game’s maker under the doctrine of strict liability. A significant application of this doctrine is in the area of: cyber torts. intentional torts. product liability. unintentional torts 9-More than two hundred years ago, the Declaration of Independence recognized the importance of protecting creative works. True False 10-n 2014, Cloud Computing Corporation registers its trademark as provided by federal law. After the first renewal, this registration: is renewable every ten years. is renewable every twenty years. runs for life of the corporation plus seventy years. runs forever. 11-Wendy works as a weather announcer for a TV station under the character name Weather Wendy. Wendy can register her character’s name as: a certification mark. a trade name. a service mark. none of the choices 12-Much of the material on the Internet, including software and database information, is not copyrighted. True False 13-In a criminal case, the state must prove its case by a preponderance of the evidence. True False 14-Under the Fourth Amendmentt, general searches through a person’s belongings are permissible. True False 15-Maura enters a gas station and points a gun at the clerk Nate. She then forces Nate to open the cash register and give her all the money. Maura can be charged with: burglary. robbery. larceny. receiving stolen property. 16-Reno, driving while intoxicated, causes a car accident that results in the death of Santo. Reno is arrested and charged with a felony. A felony is a crime punishable by death or imprisonment for: any period of time. more than one year. more than six months. more than ten days. 17-Corporate officers and directors may be held criminally liable for the actions of employees under their supervision. True False 18-Sal assures Tom that she will deliver a truckload of hay to his cattle ranch. A person’s declaration to do a certain act is part of the definition of: an expectation. a moral obligation. a prediction. a promise. 19-Lark promises to buy Mac’s used textbook for $60. Lark is: an offeror. an offeree a promisee. a promisor. 20-Casey offers to sell a certain used forklift to DIY Lumber Outlet, but Casey dies before DIY accepts. Most likely, Casey’s death: did not affect the offer. shortened the time of the offer but did not terminated it. extended the time of the offer. terminated the offer.

1-Two notions serve as the basis for all torts: wrongs … Read More...
7. Analysts who follow Howe Industries recently noted that, relative to the previous year, the company’s net cash provided from operations increased, yet cash as reported on the balance sheet decreased. Which of the following factors could explain this situation? a. The company cut its dividend. b. The company made large investments in fixed assets. c. The company sold a division and received cash in return. d. The company issued new common stock. e. The company issued new long-term debt.

7. Analysts who follow Howe Industries recently noted that, relative to the previous year, the company’s net cash provided from operations increased, yet cash as reported on the balance sheet decreased. Which of the following factors could explain this situation? a. The company cut its dividend. b. The company made large investments in fixed assets. c. The company sold a division and received cash in return. d. The company issued new common stock. e. The company issued new long-term debt.

Answer: b
8. Austin Financial recently announced that its net income increased sharply from the previous year, yet its net cash provided from operations declined. Which of the following could explain this performance? a. The company’s dividend payment to common stockholders declined. b. The company’s expenditures on fixed assets declined. c. The company’s cost of goods sold increased. d. The company’s depreciation expense declined. e. The company’s interest expense increased

8. Austin Financial recently announced that its net income increased sharply from the previous year, yet its net cash provided from operations declined. Which of the following could explain this performance? a. The company’s dividend payment to common stockholders declined. b. The company’s expenditures on fixed assets declined. c. The company’s cost of goods sold increased. d. The company’s depreciation expense declined. e. The company’s interest expense increased

Answer: d 8.    Austin Financial recently announced that its net … Read More...
10. Which of the following statements is CORRECT? a. The proper goal of the financial manager should be to maximize the firm’s expected cash flows, because this will add the most wealth to each of the individual shareholders (owners) of the firm. b. The financial manager should seek that combination of assets, liabilities, and capital that will generate the largest expected after-tax income over the relevant time horizon. c. The riskiness inherent in a firm’s earnings per share (EPS) depends on the characteristics of the projects the firm selects, which means it depends upon the firm’s assets, but EPS does not depend on the manner in which those assets are financed. d. Large, publicly-owned firms like AT&T and GM, are controlled by their management teams. Ownership is generally widely dispersed, hence managers have great freedom in how they manage the firm. Managers may operate in stockholders’ best interests, but they may also operate in their own personal best interests. As long as managers stay within the law, there are no effective tools that can be used to motivate them to take actions that are in the stockholders’ best interests. e. Potential conflicts of interest can exist between stockholders and managers, and also between stockholders and bondholders.

10. Which of the following statements is CORRECT? a. The proper goal of the financial manager should be to maximize the firm’s expected cash flows, because this will add the most wealth to each of the individual shareholders (owners) of the firm. b. The financial manager should seek that combination of assets, liabilities, and capital that will generate the largest expected after-tax income over the relevant time horizon. c. The riskiness inherent in a firm’s earnings per share (EPS) depends on the characteristics of the projects the firm selects, which means it depends upon the firm’s assets, but EPS does not depend on the manner in which those assets are financed. d. Large, publicly-owned firms like AT&T and GM, are controlled by their management teams. Ownership is generally widely dispersed, hence managers have great freedom in how they manage the firm. Managers may operate in stockholders’ best interests, but they may also operate in their own personal best interests. As long as managers stay within the law, there are no effective tools that can be used to motivate them to take actions that are in the stockholders’ best interests. e. Potential conflicts of interest can exist between stockholders and managers, and also between stockholders and bondholders.

Answer: e 10.    Which of the following statements is CORRECT?  … Read More...
http://www.econlib.org/library/Smith/smWN1.html#B.I,%20Ch.1,%20Of%20the%20Division%20of%20Labor What does Smith mean by division of labor, and how does it affect production? A. He means that each person does their own work to benefit themselves by creating goods. This creates well-crafted goods. B. He argues that in order to become more efficient, we need to put everyone in the same workhouses and eliminate division. C. He says that the division of labor provides farmers with the opportunity to become involved in manufacturing. D. He means that each person makes one small part of a good very quickly, but this is bad for the quality of production overall. E. He means that by having each individual specialize in one thing, they can work together to create products more efficiently and effectively. Which of the following is NOT an example of the circumstances by which the division of labor improves efficiency? A. A doll-making company stops allowing each employee to make one whole doll each and instead appoints each employee to create one part of the doll. B. A family of rug makers buys a loom to speed up their production. C. A mechanic opens a new shop to be nearer to the market. D. A factory changes the responsibilities of its employees so that one group handles heavy boxes and the other group does precision sewing. E. A baker who used to make a dozen cookies at a time buys a giant mixer and oven that enable him to make 20 dozen cookies at a time. Considering the global system of states, what do you think the allegory of the pins has to offer? A. It suggests that there could be a natural harmony of interests among states because they can divide labor among themselves to the benefit of everyone. B. It suggests that states can never be secure enough to cooperate because every state is equally capable of producing the same things. C. It suggests that a central authority is necessary to help states cooperate, in the same way that a manager oversees operations at a factory. D. The allegory of the pins is a great way to think about how wars come about, because states won’t cooperate with each other like pin-makers do. E. The allegory of the pins shows us that there is no natural harmony of interests between states. Smith sees the development of industry, technology, and the division of labor as A. generally positive but not progressive. The lives of many people may improve, but the world will generally stay the same. B. generally positive and progressive. The world is improving because of these changes, and it will continue to improve. C. generally negative. The creation of new technologies and the division of labor are harmful to all humans, both the wealthy and the poor. D. generally negative. The creation of the division of labor only benefits the wealthy at the expense of the poor. E. both positive and negative. Smith thinks that technology hurts us, while the division of labor helps society progress and develop. http://www.youtube.com/watch?v=RUwS1uAdUcI What point is Hans Rosling trying to make when he describes the global health pre-test? A. He is trying to show how the average person has no idea of the true state of global health. B. He is trying to illustrate how we tend to carry around outdated notions about the state of global health. C. He is trying to make us see that the less-developed countries are far worse off than we ever thought. D. He is trying to drive home the idea that global health has not improved over time despite foreign aid and improvements in medicine. E. He is trying to warn us about the rapid growth in world population. Rosling shows us that we tend to think about global health in terms of “we and them.” Who are the “we” and who are the “them”? A. “We” refers to academics, students, and scholars; “them” refers to the uneducated. B. “We” refers to the average person; “them” refers to politicians and global leaders. C. “We” refers to the wealthy; “them” refers to the poor. D. “We” refers to the Western world; “them” refers to the Third World. E. “We” refers to students; “them” refers to professors. In the life expectancy and fertility rate demonstration, what do the statistics reveal? A. Over time, developed countries produced small families and long lives, whereas developing countries produced large families and short lives. B. The world today looks much like it did in 1962 despite our attempts to help poorer countries develop. C. All countries in the world, even the poorer ones, are trending toward longer lives and smaller families. D. Developed countries are trending toward smaller families but shorter lives. E. All countries tend to make gains and losses in fertility and lifespan, but in the long run there is no significant change. What point does Rosling make about life expectancy in Vietnam as compared to the United States? To what does he attribute the change? A. He indicates that economic change preceded social change. B. He suggests that markets and free trade resulted in the increase in life expectancy. C. He says that the data indicates that the Vietnam War contributed to the decrease in life expectancy during that time, but that it recovered shortly thereafter. D. He says that social change in Asia preceded economic change, and life expectancy in Vietnam increased despite the war. E. He indicates that Vietnam was equal to the United States in life expectancy before the war. According to Rosling, how are regional statistics about child survival rates and GDP potentially misleading? A. Countries have an incentive to lie about the actual survival rates because they want foreign assistance. B. Statistics for the individual countries in a region are often vastly different. C. Regional statistics give us a strong sense of how we can understand development within one region, but it does not allow us to compare across regions. D. The data available over time and from countries within regions is often poorly collected and incomplete. E. Child survival rates cannot be compared regionally, since each culture has a different sense of how important children are. What is Rosling’s main point about statistical databases? A. The data is available but not readily accessible, so we need to create networks to solve that problem. B. The data that comes from these databases is often flawed and unreliable. C. It doesn’t matter whether we have access to these databases because the data can’t be used in an interesting way. D. Statistics can’t tell us very much, but we should do our best to make use of the information we do have. E. The information that could be true is too hard to sort out from what isn’t true because we don’t know how strong the data really is. http://www.marxists.org/archive/lenin/works/1916/imp-hsc/ch10.htm#v22zz99h-298-GUESS Click the link at left to read Chapter 10 of Imperialism, The Highest Stage of Capitalism, then answer the questions below. According to Lenin, what is the fundamental source of a monopoly? A. It is a natural effect of human behavior. B. It is the result of governments and police systems. C. Its source is rooted in democracy. D. It comes from the concentration of production at a high stage. E. It is what follows a socialist system. What are the principal types or manifestations of monopoly capitalism? A. Monopolistic capitalist associations like cartels, syndicates and trusts; and monopolies as a result of colonial policy. B. Monopolization of raw materials and monopolization of finance capital. C. Monopolization of governing structures and monopolies of oligarchies. D. Monopolist capitalist associations like cartels, syndicates and trusts; and monopolies as a result of colonial policy AND monopolization of raw materials and monopolization of finance capital. E. Monopolization of raw materials and monopolization of finance capital AND monopolization of governing structures and monopolies of oligarchies. What is the definition of a rentier state according to Lenin? A. A state that colonizes other states. B. A state whose bourgeoisie live off the export of capital. C. A poor state. D. A wealthy state. E. A colonized state. Overall Lenin’s analysis of the state of capitalism is concerned with: A. The interactions between states. B. The interactions within states. C. The ownership of industry and organizations. D. The interactions within states AND the ownership of industry and organizations. E. All of these options. http://view.vzaar.com/1194665/flashplayer Watch the video at left, and then answer the questions below. The Marshall Plan was developed by the United States after World War II. What was its purpose? A. to feed the hungry of Europe B. to stem the spread of communism C. to maintain an American military presence in Europe D. to feed the hungry of Europe AND to stem the spread of communism E. to stem the spread of communism AND to maintain an American military presence in Europe What kind of aid was sent at first? A. foods, fertilizers, and machines for agriculture B. books, paper, and radios for education C. clothing, medical supplies, and construction equipment D. mostly cash in the form of loans and grants E. people with business expertise to help develop the economy What kind of aid did the United States send to Greece to help its farmers? A. tractors B. mules C. seeds D. fertilizer E. all of these options What was one way that the United States influenced public opinion in Italy during the elections described in the video? A. The United States provided significant food aid to Italy so that the Italians would be inclined to vote against the Communists. B. The Italians had been impressed by the strength and loyalty of the American soldiers, and were inclined to listen to them during the elections. C. There was a large number of young Italians who followed American fashion and culture. D. Italian immigrants in the United States wrote letters to their families in Italy urging them not to vote for Communists. E. The Greeks showed the Italians how much the Americans had helped them, warning that supporting a Communist candidate would mean sacrificing American aid. How did Pope Pius XII undermine the strength of the Communist Party in Italy? A. He encouraged Italians to go out and vote. B. He warned that the Communist Party would legalize abortion. C. He excommunicated many members of the Communist Party. D. He made a speech in support of capitalism. E. He declared that Communists should not be baptized. http://www.youtube.com/watch?v=KVhWqwnZ1eM Use the video at left to answer the questions below. Hans Rosling shares how his students discuss “we” versus “them.” To whom are his students referring? A. the United States and Mexico B. Christians and Muslims C. Democrats and Republicans D. Europe and Asia E. none of these options According to Rosling, what factors contribute to a better quality of life for people in developing countries? A. family planning B. soap and water C. investment D. vaccinations E. all of these options Using his data, Rosling demonstrates a great shift in Mexico. What change does his data demonstrate? A. a decrease in drug usage B. a decrease in the number of jobs available C. an increase in average life expenctancy D. an increase in the rate of violent crime E. all of these options Instead of “developing” and “developed,” Rosling divides countries into four categories. Which of the following is NOT one of them? A. high-income countries B. middle-income countries C. low-income countries D. no-income countries E. collapsing countries Rosling discusses the increased life expectancy in both China and the United States. How are the situations different? A. The U.S. and China are on different continents. B. The life expectancy in China rose much higher than it did in the U.S. C. China first expanded its life expectancy and then grew economically, whereas the U.S. did the reverse. D. Average income and life expectancy steadily increased in the U.S., but they steadily decreased in China. E. all of these options Rosling shows a chart that demonstrates the regional income distribution of the world from 1970 to 2015. During that time, what has happened in South and East Asia? A. Money has flowed out of Asia to developing countries in Africa. B. The average income of citizens of South and East Asia has increased over the last 30 years. C. The average income of citizens of South and East Asia has decreased over the last 30 years. D. The average income of citizens of South and East Asia has surpassed that of Europe and North America. E. There has been no change. Click here to access GapMinder, the data visualizer that Hans Rosling uses. In 2010, which of the following countries had both a higher per-capita GDP and a higher life expectancy than the United States? A. France B. Japan C. Denmark D. Singapore E. Kuwait http://www.garretthardinsociety.org/articles/art_tragedy_of_the_commons.html http://www.youtube.com/watch?v=8a4S23uXIcM The Tragedy of the Commons What is the rough definition of the “commons” given in the article? A. any private property on which others trespass B. behavior that everyone considers to be normal C. a cow that lives in a herd D. government-administered benefits, like unemployment or Social Security E. a shared resource What does Hardin mean by describing pollution as a reverse tragedy of the commons? A. Rather than causing a problem, it resolves a problem. B. Pollution costs us money rather than making us money. C. We are putting something into the commons rather than removing something from it. D. It starts at the other end of the biological pyramid. E. Humans see less of it as time goes on. Hardin says “the air and waters surrounding us cannot readily be fenced, and so the tragedy of the commons as a cesspool must be prevented by different means.” What are those means? A. establishing more international treaties to protect the environment B. using laws or taxes to make the polluter pay for pollution C. punishing consumers for generating waste D. raising awareness about environmental issues E. developing greener products Pacific Garbage Dump According to the news report, what percent of the Gyre is made of plastic? A. 50 percent B. 60 percent C. 70 percent D. 80 percent E. 90 percent Where does the majority of the plastic in the Gyre come from? A. barges that dump trash in the ocean B. storm drains from land C. people throwing litter off boats into the ocean D. remnants from movie sets filmed at sea E. fishing boats processing their catch What does Charles Moore mean by the “throwaway concept”? A. the habitual use of disposable plastic packaging B. the mistaken view that marine ecosystems are infinitely renewable C. a general lack of interest in recycling D. the willingness to discard effective but small-scale environmental policies in deference to broader E. people throwing away their lives in pursuit of money In what way does the Great Pacific Gyre represent issues like global warming a tragedy of the commons? A. because all the plastic trash in it comes from the United States B. because it kills the albatross and makes it impossible for them to reproduce C. surbecause the countries rounding the Pacific Ocean are polluting the water in a way that affects the quality of the resource for all, but no one is specifically accountable for it D. because it causes marine life to compete for increasingly scarce nutrients in the ocean E. because nations in the region all collectively agreed to dump their trash in the Pacific http://www.npr.org/news/specials/climate/video/ http://ngm.nationalgeographic.com/climateconnections/climate-map http://www.npr.org/news/specials/climate/video/wildchronicles.html Use the links provided at left to answer the questions below. Global Warming: It’s All About Carbon How does carbon give us fuel? A. When you burn things that contain carbon the bonds break, giving off energy. B. Burning things creates carbon out of other elements as a result of combustion. C. Carbon is created after oxygen and hydrogen get released. D. Carbon bonds are created thereby giving off energy. E. Carbon is made into fuel by refining oil. National Geographic Climate Map What geographic areas have seen the most significant changes in temperature? A. The African continent. B. The Pacific Ocean. C. The Atlantic Ocean. D. The Arctic Ocean. E. The Indian Ocean. Why does it matter that rain fall steadily rather than in downpours? A. For those countries accustomed to steady rain fall, downpours are actually more efficient ways to catch water. B. Downpours in regions accustomed to steady fall makes them more prone to flooding and damage. C. In general, as long as regions get either steady fall or downpours most things will stay the same. D. Downpours are always more beneficial to crop growth than steady rain. E. Steady rain is always more beneficial to crop growth than downpours. Climate Change Threatens Kona Coffee What is unique about the climate in Hawaii, making it a good place to grow coffee? A. The elevation is high, the nights are cool and the days are humid. B. The elevation is low, the nights are warm and the days are dry. C. The elevation is high, the nights are warm and the days are dry. D. The elevation is low, the nights are cool and the days are dry. E. The elevation is high, the nights are warm and the days are humid. What specific temperature pattern have experts noted about the region where Kona coffee is grown in Hawaii? A. There has been no significant change but the bean production has dropped. B. The nights have warmed up, even though the days have cooled. C. There has been an increase in bean production with the change in climate. D. The nights have cooled even more so than before. E. There has been universally hot days all the way around.

http://www.econlib.org/library/Smith/smWN1.html#B.I,%20Ch.1,%20Of%20the%20Division%20of%20Labor What does Smith mean by division of labor, and how does it affect production? A. He means that each person does their own work to benefit themselves by creating goods. This creates well-crafted goods. B. He argues that in order to become more efficient, we need to put everyone in the same workhouses and eliminate division. C. He says that the division of labor provides farmers with the opportunity to become involved in manufacturing. D. He means that each person makes one small part of a good very quickly, but this is bad for the quality of production overall. E. He means that by having each individual specialize in one thing, they can work together to create products more efficiently and effectively. Which of the following is NOT an example of the circumstances by which the division of labor improves efficiency? A. A doll-making company stops allowing each employee to make one whole doll each and instead appoints each employee to create one part of the doll. B. A family of rug makers buys a loom to speed up their production. C. A mechanic opens a new shop to be nearer to the market. D. A factory changes the responsibilities of its employees so that one group handles heavy boxes and the other group does precision sewing. E. A baker who used to make a dozen cookies at a time buys a giant mixer and oven that enable him to make 20 dozen cookies at a time. Considering the global system of states, what do you think the allegory of the pins has to offer? A. It suggests that there could be a natural harmony of interests among states because they can divide labor among themselves to the benefit of everyone. B. It suggests that states can never be secure enough to cooperate because every state is equally capable of producing the same things. C. It suggests that a central authority is necessary to help states cooperate, in the same way that a manager oversees operations at a factory. D. The allegory of the pins is a great way to think about how wars come about, because states won’t cooperate with each other like pin-makers do. E. The allegory of the pins shows us that there is no natural harmony of interests between states. Smith sees the development of industry, technology, and the division of labor as A. generally positive but not progressive. The lives of many people may improve, but the world will generally stay the same. B. generally positive and progressive. The world is improving because of these changes, and it will continue to improve. C. generally negative. The creation of new technologies and the division of labor are harmful to all humans, both the wealthy and the poor. D. generally negative. The creation of the division of labor only benefits the wealthy at the expense of the poor. E. both positive and negative. Smith thinks that technology hurts us, while the division of labor helps society progress and develop. http://www.youtube.com/watch?v=RUwS1uAdUcI What point is Hans Rosling trying to make when he describes the global health pre-test? A. He is trying to show how the average person has no idea of the true state of global health. B. He is trying to illustrate how we tend to carry around outdated notions about the state of global health. C. He is trying to make us see that the less-developed countries are far worse off than we ever thought. D. He is trying to drive home the idea that global health has not improved over time despite foreign aid and improvements in medicine. E. He is trying to warn us about the rapid growth in world population. Rosling shows us that we tend to think about global health in terms of “we and them.” Who are the “we” and who are the “them”? A. “We” refers to academics, students, and scholars; “them” refers to the uneducated. B. “We” refers to the average person; “them” refers to politicians and global leaders. C. “We” refers to the wealthy; “them” refers to the poor. D. “We” refers to the Western world; “them” refers to the Third World. E. “We” refers to students; “them” refers to professors. In the life expectancy and fertility rate demonstration, what do the statistics reveal? A. Over time, developed countries produced small families and long lives, whereas developing countries produced large families and short lives. B. The world today looks much like it did in 1962 despite our attempts to help poorer countries develop. C. All countries in the world, even the poorer ones, are trending toward longer lives and smaller families. D. Developed countries are trending toward smaller families but shorter lives. E. All countries tend to make gains and losses in fertility and lifespan, but in the long run there is no significant change. What point does Rosling make about life expectancy in Vietnam as compared to the United States? To what does he attribute the change? A. He indicates that economic change preceded social change. B. He suggests that markets and free trade resulted in the increase in life expectancy. C. He says that the data indicates that the Vietnam War contributed to the decrease in life expectancy during that time, but that it recovered shortly thereafter. D. He says that social change in Asia preceded economic change, and life expectancy in Vietnam increased despite the war. E. He indicates that Vietnam was equal to the United States in life expectancy before the war. According to Rosling, how are regional statistics about child survival rates and GDP potentially misleading? A. Countries have an incentive to lie about the actual survival rates because they want foreign assistance. B. Statistics for the individual countries in a region are often vastly different. C. Regional statistics give us a strong sense of how we can understand development within one region, but it does not allow us to compare across regions. D. The data available over time and from countries within regions is often poorly collected and incomplete. E. Child survival rates cannot be compared regionally, since each culture has a different sense of how important children are. What is Rosling’s main point about statistical databases? A. The data is available but not readily accessible, so we need to create networks to solve that problem. B. The data that comes from these databases is often flawed and unreliable. C. It doesn’t matter whether we have access to these databases because the data can’t be used in an interesting way. D. Statistics can’t tell us very much, but we should do our best to make use of the information we do have. E. The information that could be true is too hard to sort out from what isn’t true because we don’t know how strong the data really is. http://www.marxists.org/archive/lenin/works/1916/imp-hsc/ch10.htm#v22zz99h-298-GUESS Click the link at left to read Chapter 10 of Imperialism, The Highest Stage of Capitalism, then answer the questions below. According to Lenin, what is the fundamental source of a monopoly? A. It is a natural effect of human behavior. B. It is the result of governments and police systems. C. Its source is rooted in democracy. D. It comes from the concentration of production at a high stage. E. It is what follows a socialist system. What are the principal types or manifestations of monopoly capitalism? A. Monopolistic capitalist associations like cartels, syndicates and trusts; and monopolies as a result of colonial policy. B. Monopolization of raw materials and monopolization of finance capital. C. Monopolization of governing structures and monopolies of oligarchies. D. Monopolist capitalist associations like cartels, syndicates and trusts; and monopolies as a result of colonial policy AND monopolization of raw materials and monopolization of finance capital. E. Monopolization of raw materials and monopolization of finance capital AND monopolization of governing structures and monopolies of oligarchies. What is the definition of a rentier state according to Lenin? A. A state that colonizes other states. B. A state whose bourgeoisie live off the export of capital. C. A poor state. D. A wealthy state. E. A colonized state. Overall Lenin’s analysis of the state of capitalism is concerned with: A. The interactions between states. B. The interactions within states. C. The ownership of industry and organizations. D. The interactions within states AND the ownership of industry and organizations. E. All of these options. http://view.vzaar.com/1194665/flashplayer Watch the video at left, and then answer the questions below. The Marshall Plan was developed by the United States after World War II. What was its purpose? A. to feed the hungry of Europe B. to stem the spread of communism C. to maintain an American military presence in Europe D. to feed the hungry of Europe AND to stem the spread of communism E. to stem the spread of communism AND to maintain an American military presence in Europe What kind of aid was sent at first? A. foods, fertilizers, and machines for agriculture B. books, paper, and radios for education C. clothing, medical supplies, and construction equipment D. mostly cash in the form of loans and grants E. people with business expertise to help develop the economy What kind of aid did the United States send to Greece to help its farmers? A. tractors B. mules C. seeds D. fertilizer E. all of these options What was one way that the United States influenced public opinion in Italy during the elections described in the video? A. The United States provided significant food aid to Italy so that the Italians would be inclined to vote against the Communists. B. The Italians had been impressed by the strength and loyalty of the American soldiers, and were inclined to listen to them during the elections. C. There was a large number of young Italians who followed American fashion and culture. D. Italian immigrants in the United States wrote letters to their families in Italy urging them not to vote for Communists. E. The Greeks showed the Italians how much the Americans had helped them, warning that supporting a Communist candidate would mean sacrificing American aid. How did Pope Pius XII undermine the strength of the Communist Party in Italy? A. He encouraged Italians to go out and vote. B. He warned that the Communist Party would legalize abortion. C. He excommunicated many members of the Communist Party. D. He made a speech in support of capitalism. E. He declared that Communists should not be baptized. http://www.youtube.com/watch?v=KVhWqwnZ1eM Use the video at left to answer the questions below. Hans Rosling shares how his students discuss “we” versus “them.” To whom are his students referring? A. the United States and Mexico B. Christians and Muslims C. Democrats and Republicans D. Europe and Asia E. none of these options According to Rosling, what factors contribute to a better quality of life for people in developing countries? A. family planning B. soap and water C. investment D. vaccinations E. all of these options Using his data, Rosling demonstrates a great shift in Mexico. What change does his data demonstrate? A. a decrease in drug usage B. a decrease in the number of jobs available C. an increase in average life expenctancy D. an increase in the rate of violent crime E. all of these options Instead of “developing” and “developed,” Rosling divides countries into four categories. Which of the following is NOT one of them? A. high-income countries B. middle-income countries C. low-income countries D. no-income countries E. collapsing countries Rosling discusses the increased life expectancy in both China and the United States. How are the situations different? A. The U.S. and China are on different continents. B. The life expectancy in China rose much higher than it did in the U.S. C. China first expanded its life expectancy and then grew economically, whereas the U.S. did the reverse. D. Average income and life expectancy steadily increased in the U.S., but they steadily decreased in China. E. all of these options Rosling shows a chart that demonstrates the regional income distribution of the world from 1970 to 2015. During that time, what has happened in South and East Asia? A. Money has flowed out of Asia to developing countries in Africa. B. The average income of citizens of South and East Asia has increased over the last 30 years. C. The average income of citizens of South and East Asia has decreased over the last 30 years. D. The average income of citizens of South and East Asia has surpassed that of Europe and North America. E. There has been no change. Click here to access GapMinder, the data visualizer that Hans Rosling uses. In 2010, which of the following countries had both a higher per-capita GDP and a higher life expectancy than the United States? A. France B. Japan C. Denmark D. Singapore E. Kuwait http://www.garretthardinsociety.org/articles/art_tragedy_of_the_commons.html http://www.youtube.com/watch?v=8a4S23uXIcM The Tragedy of the Commons What is the rough definition of the “commons” given in the article? A. any private property on which others trespass B. behavior that everyone considers to be normal C. a cow that lives in a herd D. government-administered benefits, like unemployment or Social Security E. a shared resource What does Hardin mean by describing pollution as a reverse tragedy of the commons? A. Rather than causing a problem, it resolves a problem. B. Pollution costs us money rather than making us money. C. We are putting something into the commons rather than removing something from it. D. It starts at the other end of the biological pyramid. E. Humans see less of it as time goes on. Hardin says “the air and waters surrounding us cannot readily be fenced, and so the tragedy of the commons as a cesspool must be prevented by different means.” What are those means? A. establishing more international treaties to protect the environment B. using laws or taxes to make the polluter pay for pollution C. punishing consumers for generating waste D. raising awareness about environmental issues E. developing greener products Pacific Garbage Dump According to the news report, what percent of the Gyre is made of plastic? A. 50 percent B. 60 percent C. 70 percent D. 80 percent E. 90 percent Where does the majority of the plastic in the Gyre come from? A. barges that dump trash in the ocean B. storm drains from land C. people throwing litter off boats into the ocean D. remnants from movie sets filmed at sea E. fishing boats processing their catch What does Charles Moore mean by the “throwaway concept”? A. the habitual use of disposable plastic packaging B. the mistaken view that marine ecosystems are infinitely renewable C. a general lack of interest in recycling D. the willingness to discard effective but small-scale environmental policies in deference to broader E. people throwing away their lives in pursuit of money In what way does the Great Pacific Gyre represent issues like global warming a tragedy of the commons? A. because all the plastic trash in it comes from the United States B. because it kills the albatross and makes it impossible for them to reproduce C. surbecause the countries rounding the Pacific Ocean are polluting the water in a way that affects the quality of the resource for all, but no one is specifically accountable for it D. because it causes marine life to compete for increasingly scarce nutrients in the ocean E. because nations in the region all collectively agreed to dump their trash in the Pacific http://www.npr.org/news/specials/climate/video/ http://ngm.nationalgeographic.com/climateconnections/climate-map http://www.npr.org/news/specials/climate/video/wildchronicles.html Use the links provided at left to answer the questions below. Global Warming: It’s All About Carbon How does carbon give us fuel? A. When you burn things that contain carbon the bonds break, giving off energy. B. Burning things creates carbon out of other elements as a result of combustion. C. Carbon is created after oxygen and hydrogen get released. D. Carbon bonds are created thereby giving off energy. E. Carbon is made into fuel by refining oil. National Geographic Climate Map What geographic areas have seen the most significant changes in temperature? A. The African continent. B. The Pacific Ocean. C. The Atlantic Ocean. D. The Arctic Ocean. E. The Indian Ocean. Why does it matter that rain fall steadily rather than in downpours? A. For those countries accustomed to steady rain fall, downpours are actually more efficient ways to catch water. B. Downpours in regions accustomed to steady fall makes them more prone to flooding and damage. C. In general, as long as regions get either steady fall or downpours most things will stay the same. D. Downpours are always more beneficial to crop growth than steady rain. E. Steady rain is always more beneficial to crop growth than downpours. Climate Change Threatens Kona Coffee What is unique about the climate in Hawaii, making it a good place to grow coffee? A. The elevation is high, the nights are cool and the days are humid. B. The elevation is low, the nights are warm and the days are dry. C. The elevation is high, the nights are warm and the days are dry. D. The elevation is low, the nights are cool and the days are dry. E. The elevation is high, the nights are warm and the days are humid. What specific temperature pattern have experts noted about the region where Kona coffee is grown in Hawaii? A. There has been no significant change but the bean production has dropped. B. The nights have warmed up, even though the days have cooled. C. There has been an increase in bean production with the change in climate. D. The nights have cooled even more so than before. E. There has been universally hot days all the way around.

http://www.econlib.org/library/Smith/smWN1.html#B.I,%20Ch.1,%20Of%20the%20Division%20of%20Labor What does Smith mean by division of labor, and … Read More...