The policy of using trade barriers to protect domestic industries from foreign competition is called

a. free market.

c. managed trade.

b. protectionism.

d. free trade.

During a recent officer's meeting of Medium Corporation, Inc., a company that has been in operation for three years, the officers determined that they needed to develop a multi-year plan for financial needs.

What is the economic definition of utility? Utility is A. the enjoyment or satisfaction people receive from consuming goods and services. B. the sum of consumer and producer surplus. C.

Manuel is one of the top salespeople at Bloomingdale's menswear department. Although Manuel doesn't like the fact that some of the clothes in Bloomingdales come from overseas, he is good at his job, and is also very motivated by the opportunity to

The inflation tax is an: Multiple Choice explicit tax on firms that raise their prices. explicit tax on wealth. implicit tax on the holders of cash and the holders of assets specified in real terms.

Which of the following is an advantage of using merchant wholesalers? A. They supply marketing functions for small manufacturers. B. They facilitate examination of merchandise at a central location. C.

Which of the following statements is true of theories in economics? Theories in economics A. are used to construct models from which quantitative predictions can be made. B.

Reducing (and sometimes eliminating) the size of engineering staffs has become a recent trend among airlines since they are no longer as involved with the design of new aircraft. A. True B. False

Ashton Bank knows that its customer, Juan, has died. One day after Juan's death, Ashton Bank was presented a check for clearing of $3,000. The check was written by Juan a week prior to his death to Bailey Enterprises.

Which of the following may be true for a company pursuing a strategy of unrelated diversification rather than a strategy of related diversification? a. The company has to achieve coordination between business units. b.

Private markets fail to reach a socially optimal equilibrium when positive externalities are present because the A. private cost exceeds the private benefit at the private market solution. B.