The superior position a product enjoys over competing products if consumers believe it has more value than other products in its class is referred to as ________ ________.
What will be an ideal response?
competitive advantage
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In comparison to when monetary policy is not expansionary, under an expansionary monetary policy, the unemployment rate is ____ and the inflation rate is _____ over time.
A. higher; higher B. higher; lower C. lower; lower D. lower; higher
Which one of the following violates the guidelines that your text provides for working with media representatives?
A. Talk from the viewpoint of the public's interest, not the organization's. B. Do not call a press conference unless you have what reporters consider news. C. If a reporter asks a direct question, give an equally direct answer. D. If you don't want something you said used in a story, tell the reporter that it was "off the record." E. Tell the truth, even if it hurts.
A(n) ________ contract is a contract entered into by way of an exchange of promises between the parties.
A. bilateral B. unilateral C. express D. auction
A company has the choice of either selling 1,000 unfinished units as is or completing them. The company could sell the unfinished units as is for $4.00 per unit. Alternatively, it could complete the units with incremental costs of $1.00 per unit for direct materials, $2.00 per unit for direct labor, and $1.50 per unit for overhead, and then sell the finished units for $8.00 each. What should the company do?
A. Finish the units. B. Neither sell nor finish because both alternatives produce a loss. Instead, the company should store the units permanently. C. It does not matter because both alternatives have the same result. D. Sell the units as is. E. Donate the units.