Exhibit 16-2 Who Would Most Likely Lobby Congress for a Price

question 39

Multiple Choice

Exhibit 16-2 Who would most likely lobby Congress for a price support on wool?

• A)retail sweater outlets
• B)consumers of wool caps
• C)taxpayers
• D)wool producers
• E)sheep

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Definitions:

Inventory

The goods and materials a business holds for the purpose of resale or production.

Quick Ratio

A liquidity ratio that measures a company's ability to cover its short-term obligations with its most liquid assets, excluding inventory.

Current Ratio

A liquidity ratio that measures a company's ability to pay off its short-term liabilities with its short-term assets.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations with its short-term assets.