Which of the following is true about the GDP?
a. To arrive at per capita GDP, a nation’s GDP is simply divided by the number of its population who are in the workforce.
b. The GDP figures are excluded when making comparisons between countries.
c. It is the total market value of all goods and services produced in a one-year period within the boundaries of a nation.
d. The GDP includes what products U.S. firms produce oversees.
e. It is the total market value of all goods and services produced in a one-year period within the boundaries of one nation in relation to another nation.
c. It is the total market value of all goods and services produced in a one-year period within the boundaries of a nation.
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Video game enthusiasts are an example of a market segment that
A) is difficult to reach by traditional media, but highly involved in social media. B) is easiest to reach through television advertising. C) is most receptive to product placement in films and television programming. D) cannot be accurately measured, either demographically, psychographically or behaviorally. E) make purchase decisions largely based on in-store sales promotion tactics.
Which of the following is the primary drawback of traditional strategic control systems?
A. They lack the flexibility needed to adjust to changes in the environment. B. Goals and objectives cannot be measured with a high level of certainty. C. They are only appropriate when the environment is stable and simple. D. They lead to complacency.
The type of utility on which production and operations management focuses is ____ utility.
A. place B. time C. form D. possession E. need
The University Store, Inc. is the major bookseller for four nearby colleges. An income statement for the first quarter of the year is presented below: University Store, Inc.Income StatementFor the Quarter Ended March 31Sales $800,000Cost of goods sold 560,000Gross margin 240,000Selling and administrative expenses Selling$100,000 Administrative 110,000 210,000Net operating income $30,000 On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed. If 25,000 books are sold during the second quarter and this activity is within the relevant range, the company's expected contribution margin
would be: A. $300,000 B. $175,000 C. $875,000 D. $65,000