Assume the Following Sales Data for a Company $$\begin{array} { r r } 2017 & \$ 1,050,000 \\2016 & 950,000 \\2015 & 800,000 \\2014 & 650,000\end{array}$$

question 117

Multiple Choice

Assume the following sales data for a company: $$\begin{array} { r r } 2017 & \$ 1,050,000 \\2016 & 950,000 \\2015 & 800,000 \\2014 & 650,000\end{array}$$ If 2014 is the base year what is the percentage increase in sales from 2014 to 2016?

• A) 100%
• B) 61.5%
• C) 46.2%
• D) 68.4%

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Definitions:

Heckscher-Ohlin Theorem

A theory that explains the existence of a country’s comparative advantage by its factor endowments: A country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product.

Resource Allocation

The process of assigning and managing assets in a manner that supports an organization's strategic goals.

Resource Constraints

Limitations on the availability of resources, which can restrict output, growth, and efficiency.

Trade Between Two Countries

The exchange of goods and services across international borders between two nations, facilitating access to foreign markets and resources.