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CHAPTER 3 1)___ is the most common gauge of the overall expansion or contraction of an economy

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CHAPTER 3

1)___ is the most common gauge of the overall expansion or contraction of an economy.

 

 

 

 

2. A recession occurs when

 

3. Platia (P) and Orania (O) are two neighboring countries that engage in foreign trade. In a particular month, P$1 is equivalent to O$2. Three months later, P$1 is equivalent to O$2.5. How will this currency fluctuation impact trade between the two countries?

 

4. Taymen Inc., a furniture manufacturer based in Arizona, has tie-ups with raw material suppliers and shipping companies who provide Taymen a uniform pricing option across the United States. Despite the cost of production and distribution being the same across the United States, Taymen charges more for its products on the West Coast than in other parts of the United States. Which of the following acts prohibits this practice?

 

5. Indirect competition occurs when:

 

6. Assuming that a kilo of wheat sold for $1 in 2002 and $3 in 2013, which of the following can be inferred?

 

7. Cunaxa (CX), an agrarian nation, has a GDP of CX$ 23 million in 2013 during the first quarter. During the next two quarters, it records a GDP of CX$21 million and CX$ 20.5 million respectively. This trend can be classified as a(n):

 

8. The higher percentage of U.S. exports to Canada and Mexico rather than to other individual country can be attributed to the:

 

9. Radio Z and Buzz are radio stations in direct competition with each other. The target audience for both radio stations is the same, with most of their income coming from commercials. Which of the following strategies can Buzz use to differentiate its services from Radio Z?

 

10. What is the major difference between a nonprofit organization and a for-profit organization?

 

11. Which of the following pairs of products can be regarded as substitute products?

 

12. One of the functions of the International Monetary Fund is to:

 

13. If the economy of a country contracts and people lose jobs:

 

14. Which of the following exemplifies a strategy to cater to the sociocultural factor of busier families in America?

 

15. Which of the following is true about various demographics in the United States?

 

16. What is the relationship between purchasing power and inflation?

 

17. The _____ authorizes the Federal Trade Commission to restrict unfair or deceptive acts.

 

18. Why do marketers tend to target educated consumers?

 

19. Marketers are attracted to countries with a growing middle class because a nation’s:

 

20. Which of the following is true of the World Trade Organization?