Trade arrangements governing the relationships in the different states of production, distribution and sale of the same product are:
a. horizontal business arrangements b. sideways business arrangements c. real business arrangements
d. single product business arrangements e. none of the other choices are correct
e
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Which of the following situations severely limits the use of industry norms as standards of comparison?
A) The fact that little information exists on industry norms B) The existence of conglomerates C) The presentation of segmented information D) A downward turn in the economy
The expected value of a random variable is
A. the value of the random variable that should be observed on the next repeat of the experiment. B. the value of the random variable that occurs most frequently. C. the square root of the variance. D. None of these alternatives is correct.
Scott Manufacturing Co's static budget at 10,000 units of production includes $40,000 for direct labor and $4,000 for electric power. Total fixed costs are $23,000. At 12,000 units of production, a flexible budget would show:
A) variable costs of $52,800 and $27,600 of fixed costs B) variable costs of $44,000 and $23,000 of fixed costs C) variable costs of $52,800 and $23,000 of fixed costs D) variable and fixed costs totaling $67,000
To restrict or encourage exports, Congress can set quotas on various items, such as grain being sold abroad
Indicate whether the statement is true or false