An Administrative Policy Is an Informal Instrument or Bureaucratic Rule

question 121

Multiple Choice

An administrative policy is an informal instrument or bureaucratic rule that can be used to restrict imports and boost exports.Such policies benefit __________ but hurt __________.

• A) trade associations; producers
• B) consumers; producers
• C) consumers; trade associations
• D) producers; consumers
• E) consumer lobbyists; farmers

Comprehend the effects of external factors on sales incentives.

Recognize the significance of executive perquisites and their rationale.

Understand stock ownership plans and their role in fostering employee investment in company success.

Identify common problems with merit raises and strategies for their effective implementation.

---

Definitions:

Level of Significance

Refers to the probability threshold below which the null hypothesis is rejected, indicating the degree of evidence required to conclude that an effect is statistically significant.

Type I Error

The mistaken disapproval of a valid null hypothesis, commonly referred to as a "false positive."

Null Hypothesis

A statement in hypothesis testing that assumes no significant difference or effect, serving as a default position until evidence indicates otherwise.

Incorrect Decision

A decision that does not result in the optimal or expected outcome, often due to faulty reasoning or misinformation.