Applying Pareto's Law via ABC classification of customers is a two step process. Which of the following are steps in the classification process?
a. Sort customers based on sales (or profits)
b. Sort custoemrs based on how well you get along with their buyers
c. Reclassify customers based on strategic issues like access to scarce resources
d. Reclassify customers based on what they buy from you
e. Both B and C
f. Both A and C
f. both a and c
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The trade-to-GDP ratio for the United States reached its lowest point of the last 100 years
A) around 1900. B) around 1970. C) around World War II. D) around World War I. E) around 2008.
Suppose you received a 3 percent increase in your nominal wage. Over the year, inflation ran about 6 percent. Which of the following is true?
a. Your real wage fell. b. Your nominal wage fell. c. Both your nominal and real wages decreased. d. Although your nominal wage fell, your real wage increased. e. Both nominal and real wages increased.
The trains of the Transcontinental Railway Company, when shipping goods, sometimes emit sparks that start fires along the tracks and damage the property of others. If Transcontinental does not pay for the damage it causes, what has occurred?
A. Positive externality. B. Demand-side market failure. C. Supply-side market failure. D. All of these.
According to the above table, if these two countries trade
A. the United States should export TVs and Mexico should export tablets. B. the United States should import tablets and Mexico should import TVs. C. we cannot tell which country should export which good without knowing the amount of labor utilized in each country. D. Mexico should import tablets and the United States import TVs.