The Tiny Tots Toy Company manufactures only sleds. In 2016 Tiny Tots manufactured 10,000 sleds, but sold only 8,000 sleds. In 2016 Tiny Tots' change in inventory was
A. -2,000 sleds.
B. 1,000 sleds.
C. 2,000 sleds.
D. 3,000 sleds.
Answer: C
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If you kept your money under your mattress rather than keeping it in a savings account at your local bank,
A. you would not incur an opportunity cost. B. the opportunity cost of such an action would be the forgone interest of not putting the money in a savings account. C. the opportunity cost of such an action would be the gas money it took to drive to the bank. D. None of the choices are true.
A corporation's board of directors
A) are the sole owners of the corporation. B) hire the managers of the corporation. C) are personally liable for the debts of the corporation. D) control the day-to-day activities of the corporation.
Countervailing duties are used to offset any advantages that foreign exporters might gain over domestic producers because of foreign:
a. tariffs. b. subsidies. c. infant industry protection. d. quotas.
Which of the following allows member countries to import from other member countries freely, but imposes trade barriers against imports from outside countries?
A. A trade embargo B. A trade bloc C. A trade union D. A cultural union