INSTRUCTIONS: Select the single best answer to each question (2 Pts each). 1. President Trump gave his State of the Union address last month. By doing so, he fulfilled which of the following societal functions: a. Integrative d. Goal Attainment b. Pattern Maintenance e. M=f(E) c. Adaptive 2. Which of the following societal values is not associated with the United States? a. E = f(M) d. Resources are unlimited b. Zero Sum Game e. Frontier Thesis c. Justice; Equality of Opportunity 3. Wall Street's favorite financial ratio used to report the financial health businesses is: a. Return on Total Assets d. Financial Leverage b. Gross Margin Return on Inventory e. Profit Margin c. Return on Equity 4. Which of the following statement is false a. The USITC is the research arm for the Congress. b. The UK just recently pulled out of the European Union. c. China is a member of the World Trade Organization ( WTO). d. Canada's major issue with the USMCA Trade Agreement is the restrictions on its exports of personal care items to the U.S. Market. e. The U.S. and Africa's Kenya are about to open free trade negotiations. 5. Which statement does not represent an accurate description of Mr. Robert Queen's position at the U.S. Department of Commerce. a. His office represents U.S. industries located along the U.S border with Mexico, Texas to California. b. A primary focus is to help U.S. Companies from his region locate and Penetrate foreign business markets. c. One task is to alert business oriented persons within his region of forthcoming "Webinars." d. Approximately eighty percent of his business market referrals are outside the North American market, particularly Africa and Asia. 6. He believes that President Trump's use of tariffs has failed to serve the U.S. well in the international market place. your family. You are considering Homes A, MARKETING SCENARIO 2a You want to purchase a new home for your family. You are consid B, and C. The asking price for each of the homes is: Home A (S135.0 B(S145,000) and Home C($160,000). Your decisions criteria for the purchas follows: Price (40.0%): (Financing (30%): Amenities (20.0%) and Location (10.0%). Based on a five point scale (1 - Bad, 2 = Poor, 3 = Average: 4 = Good' 5 - Excellent), you rate each home as follows: Home A (Price = 5: Financing = 2; Amenities - 3; Location - 5); Home B (Price = 4; Financing = 4; Amenities = 1; Location - 2) Home C (Price = 3; Financing = 5; Amenities = 4: Location = 5). Set up your decision model (3 Pts). (2 Pts) If you are a lexicographic information processing person, which home do you buy? Explain your decision rule. b. (2 Pts) If you are a linear compensatory decision maker, which home do you buy? Explain your decision rule. MARKETING SCENARIO 2b Industry % of Sales 100.0 100,000 15,000 Net Sales (Price = $100) Less: Cost of Goods Sold Inventory (B) Gross Purchases 80,000 Less: Discounts 5,000 Freight-In Total Goods Available Less: Inventory (End) 75,000 8,000 98,000 26,000 14.5 80.0 74.0 4.0 94.0 68.0 72.000 28,000 32.0 Gross Margin Less: Operating Expenses Sales Commissions Customer Deliveries Rent Depreciation 4,000 500 1,200 100 1.2 0.1 5,800 22,200 28.2 Net Profit (BT) This small company has current assets worth $40,000 and fixed assets worth $10,000. The firm has a long-term debt of $15,000. Which of the following areas does the firm have a problem that must be addressed? a. Rent d. Inventory (Ending) b. Freight-In e. Customer deliveries c. Purchase Discounts from the problem identified in the Question, the company has needs to address. Of the following remedies to this problem, which of 2. (2Pts) Aside from the problemi another area it needs to address o the following is most appropriate? a. Increase Quantity Discounts b. FOB Factory c. Increase Markdowns on Retail Price d. Reduce Sales Price e. Reduced Sales Commission 3. (4 Pts) Set up the Strate Set up the Strategic Profit Model (You must show each ratio in the del as well as the appropriate figures used to calculate