Any measure imposed by a government to favor domestic products over foreign products not involving taxes is a(n)
A. import duty.
B. nonmonetary restriction.
C. embargo.
D. restriction of trade.
E. nontariff barrier.
Answer: E
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Knowledge that an individual has that is easy to express clearly in words, pictures, or formulas is known as
A. intangible. B. valuable. C. implicit. D. explicit. E. tacit.
While some manufacturers specialize by producing one product, consumers generally favor retailers with extensive selections from many manufacturers. These divergent viewpoints can be reconciled through _____
a. the sorting process. b. selective distribution c. intensive distribution d. exclusive distribution
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $3 per unit, Variable overhead, $4 per unit, and Fixed overhead, $250,000. The company produced 25,000 units, and sold 20,000 units, leaving 5,000 units in inventory at year-end. Income calculated under variable costing is determined to be $315,000. How much income is reported under absorption costing?
A. $565,000 B. $365,000 C. $290,000 D. $315,000 E. $265,000
According to Table 10-6, how is the constraint expressed that no more than 50 units can be produced?
A) X1 + X2 ? 50 B) X1 + X2 ? 50 C) X12 + X22 ? 50 D) X12 + X22 ? 50 E) X1 + X2 = 50