Countries that adopted communism in the 1900s-most notably the former Soviet Union, China, Cuba, North Korea, and Vietnam-thrived and prospered more than all the other countries in the world.
Indicate whether the statement is true or false
Question 2 - When a coffee chain in Portland, Oregon purchases coffee from Colombia, South America, it
A) is importing the coffee.
B) is exporting the coffee.
C) has an absolute advantage.
D) is decreasing the balance-of-trade deficit.
E) is making a big mistake.
Question 3 - Bill Yee was granted franchise rights from McDonald's for the community in which he lives. McDonald's practice of granting franchises for specific geographic areas is commonly known as selective distribution.
Indicate whether the statement is true or false
Question 4 - When compared to total quality management, Six Sigma often has more top-level support, more training for employees, and more teamwork.
Indicate whether the statement is true or false
Question 5 - The Fed requires that all of its member banks hold funds called reserves, equal to a stated percentage of the deposits held by their customers. This percentage is called the reserve requirement.
Indicate whether the statement is true or false
Question 6 - When Johnson & Johnson Vision Care, Inc, located in Jacksonville, Florida, sells its ACUVUE contact lenses to people in London, England, the company
A) is importing the lenses.
B) is exporting the lenses.
C) has an absolute advantage.
D) is increasing the balance-of-trade deficit.
E) is making a big mistake.
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