The basic objective of the U.S. market-directed economic system is to
A. achieve an annual growth rate of at least 10 percent.
B. make the most efficient use of the country's resources.
C. satisfy consumer needs as they-the consumers--see them.
D. minimize inflation.
E. provide each person with an equal share of the economic output.
Answer: C
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This question has two parts; be sure to answer each one. First, what are stakeholders, and why is it important for managers to understand this concept? Second, describe the stakeholders at a nonprofit organization, Just Say No Way, whose employees travel to grammar schools to talk with students about the dangers of drugs.
What will be an ideal response?
MoneyMaker Toy Company violated the safety standards set forth by the Consumer Product Safety Commission when it produced a toy gun that caused injury to hundreds of children. Because of MoneyMaker's actions
a. the CPSC can impose civil penalties on the company. b. the CPSC can impose criminal penalties on the company. c. users can sue for damages, including attorney's fees, if MoneyMaker knew it was violating a consumer product safety rule when it produced the guns. d. All of the answers are correct.
Pace salsa believes that sales are increasing because consumers see salsa as a healthier alternative to more traditional dips and sauces. The company develops a research study to test this hypothesis. It designs an online survey and sends it to its customers to find out their reasons for purchasing salsa. Pace is engaging in _____________ research.
A. exploratory B. descriptive C. conclusive D. experimental E. hypothesis
Loos Corporation uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold. The direct labor standards for the company's only product specify 0.90 hours per unit at $21.50 per hour. During the year, the company started and completed 26,800 units. Direct labor employees worked 25,220 hours at an average cost of $22.50 per hour.Assume that all transactions are recorded on a worksheet as shown in the text. On the left-hand side of the equals sign in the worksheet are columns for Cash, Raw Materials, Work in Process, Finished Goods, and PP&E (net). All of the variance columns are on the right-hand-side of the equals sign along with the column for Retained Earnings.When the direct labor cost is recorded,
which of the following entries will be made? A. $25,220 in the Labor Efficiency Variance column B. $25,220 in the Labor Rate Variance column C. ($25,220) in the Labor Rate Variance column D. ($25,220) in the Labor Efficiency Variance column