During the 1990s, Xerox had a problem with quality. CEO Kearns found that to solve the problem, he needed to:
A. invest heavily in research and innovation.
B. lobby the government for tax concessions.
C. change the performance-evaluation and incentive system.
D. hire executives who understood the quality concerns.
Answer: C
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What leads to a decrease in the quantity supplied of a good or service?
What will be an ideal response?
Tariffs
a. benefit consumers by lowering prices b. harm producers by decreasing competition in the product market c. harm consumers by increasing the quantity of goods available d. skew the terms of trade in favor of importing nations e. benefit domestic producers because they can charge higher prices and sell more output
If GDP exceeds GNP, we know with certainty that
A) a budget deficit exists. B) a trade surplus exists. C) a trade deficit exists. D) receipts of factor income from the rest of the world exceed payments of factor income to the rest of the world.
The terms of trade refers to
A. the documents that two countries sign in order to facilitate trade. B. the conditions imposed by the importing country regarding the quality of the imported goods. C. the ratio at which one country trades a domestic product for an imported product. D. the exchange rate determined by the exporting and the importing countries.