One assumption that distinguishes short-run cost analysis from long-run cost analysis for a profit-maximizing firm is that in the short run, a. the size of the factory is fixed. b. output is not variable. c. the number of workers used to produce the firm's product is fixed. d. there are no fixed costs.

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.

10. which of the following is true regarding preretirement inflation? a. defined-benefit plans provide more inflation protection than defined-contribution plans. b. because of preretirement inflation, possible investment-related growth is increased for defined-contribution plans. c. all types of benefits are designed to cope with preretirement inflation. d. preretirement inflation is generally reflected in the increase in an employee's compensation level over a working career.