A Gucci bag sells for $120 in Italy and $240 in the United States due to the differences in the costs of distributing the product in the two countries. This phenomenon is called a(n) ________ problem

A door-to-door salesperson convinces David and his wife, Sonia, to buy a vacuum cleaner. The next day, they learn that the same vacuum cleaner is available at a local discount store for one-third the price that they paid for it. In most states, David and Sonia have

a. twenty-four hours to cancel the transaction. b. three business days to cancel the transaction. c. thirty business days to cancel the transaction. d. ninety business days to cancel the transaction.

All of the following describe differences between binding receipts and conditional receipts, except:

A. Conditional receipts are commonly used for life insurance applications. B. No claim is paid with either receipt until a policy is issued C. The binding receipt always provides immediate coverage from the date of the receipt D. The conditional receipt can provide coverage from the date of application once the application is later approved by underwriting