Advertising spending as a percent of sales dollars is LOWEST for
A. hotels and motels.
B. grocery stores.
C. department stores.
D. jewelry stores.
E. furniture stores.
Answer: B
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The primary objective of the World Trade Organization is to
a. maximize tariff revenue for developing-country governments. b. promote bilateral trade negotiations among nations. c. liberalize international trade among member countries. d. increase the protection of firms and workers against foreign competition.
The Social Security Administration hires Thorough Paving, Inc., to repave a parking lot. For this action, an environmental impact statement is most likely
A. prohibited because the action does not affect the environment. B. required because the action is "federal." C. unnecessary because the action is not "major." D. voluntary because the action does not affect the environment.
Expansion of small family-owned businesses may be limited by:
A. the amount of family assets available. B. the size of the family. C. the retirement age of the owner. D. the low motivational level of employees.
Answer the following statement(s) true (T) or false (F)
1. If lead time is longer than the review period, the order quantity at any review point is the amount needed for the inventory on hand plus all outstanding orders to reach the replenishment level. 2. For the periodic review inventory model presented in the textbook, it is assumed that a special replenishment order will be placed in the event of a stockout between review points. 3. For the production lot size, Q, the average inventory is one-half the maximum inventory, or 1/2Q. 4. In a periodic review model, inventory is checked and reordering is done only at specified points in time, such as on a weekly, biweekly, monthly, or some other periodic basis.