What is a business cycle? Describe the different phases of a business cycle in a changing economy.
Question 2 - Arguments for the government imposing restrictions on foreign trade include
A) the loss of jobs in foreign countries.
B) advancing technology will harm the country's economy.
C) restriction of consumers' choices.
D) protection of the health of its citizens.
E) helping the foreign country become more competitive.
Question 3 - The major arguments against advertising are that it is wasteful and that it can be deceptive.
Indicate whether the statement is true or false
Question 4 - Another name for human resources management is ____ management.
A) personnel
B) corporate
C) administrative
D) operations
E) marketing
Question 5 - Define the two categories of planned economies and illustrate the differences and similarities between them.
Question 6 - In addition to political considerations, all of the following are reasons for trade restrictions except
A) equalizing a nation's balance of payments.
B) protecting new and weak industries.
C) protecting the health of citizens.
D) protecting national security.
E) all of the above are reasons for trade restrictions.
Question 7 - Radio advertising is the most expensive advertising medium.
Indicate whether the statement is true or false
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