Question 1

The growth rate of gross domestic product adjusted for inflation is referred to as which of the following?

Accepted Answer

A) Adjusted growth rate 
B) Modified growth rate 
C) Real growth rate 
D) Adapted growth rate 
E) Altered growth rate 
A) Adjusted growth rate 
B) Modified growth rate 
C) Real growth rate 
D) Adapted growth rate 
E) Altered growth rate

Question 2

Prevailing economic conditions affect mostly businesses that provide physical products,not businesses that provide intangible services.

Accepted Answer

A) True 
 B)False

Question 3

What is the difference between pure and applied R&D?

Accepted Answer

"Pure" R&D involves developing knowledge

Question 4

The total value of all goods and services produced within a given period by a national economy within a nation's borders is

Accepted Answer

A) gross national product. 
B) standard of living. 
C) aggregate output. 
D) gross domestic product. 
E) total national profits. 
A) gross national product. 
B) standard of living. 
C) aggregate output. 
D) gross domestic product. 
E) total national profits.

Question 5

What is inflation and how does it threaten economic stability?

Accepted Answer

Inflation occurs when there are widespre

Question 6

Low inflation will allow McDonald's to increase the prices it charges consumers.

Accepted Answer

A) True 
 B)False

Question 7

Mary is temporarily out of work while she is looking for a new job.She is experiencing cyclical unemployment.

Accepted Answer

A) True 
 B)False

Question 8

What is the collection and spending of government revenues called?

Accepted Answer

A) Monetary policies 
B) Fiscal policies 
C) Stimulus policies 
D) Tax policies 
E) Expenditure policies 
A) Monetary policies 
B) Fiscal policies 
C) Stimulus policies 
D) Tax policies 
E) Expenditure policies

Question 9

A defence that management adopts to make a firm less attractive to an actual or potential hostile suitor in a takeover attempt is called a poison pill.

Accepted Answer

A) True 
 B)False

Question 10

What are the customs,values,attitudes,and demographic characteristics of the society in which a company operates called?

Accepted Answer

A) Ethical environment 
B) Socio-cultural environment 
C) Societal standards 
D) Societies morals 
E) Populations principles 
A) Ethical environment 
B) Socio-cultural environment 
C) Societal standards 
D) Societies morals 
E) Populations principles

Question 11

Which of the following best defines the term business cycle?

Accepted Answer

A) The conditions of the economic system in which an organization operates 
B) The pattern of short-term ups and downs in an economy 
C) The total quantity of goods and services produced by an economic system during a given period 
D) The measure of economic growth that compares how much a system produces with the resources needed to produce it 
E) The total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system 
A) The conditions of the economic system in which an organization operates 
B) The pattern of short-term ups and downs in an economy 
C) The total quantity of goods and services produced by an economic system during a given period 
D) The measure of economic growth that compares how much a system produces with the resources needed to produce it 
E) The total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system

Question 12

Real GDP is more important than nominal GDP.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following statements about inflation is true?

Accepted Answer

A) The consumer price index is a good way of measuring inflation. 
B) Productivity decreases the purchasing power of consumer dollars. 
C) Inflation increases the purchasing power of consumer dollars. 
D) Localized price increases can cause inflation across the economic system. 
E) The amount of money tends to be distributed evenly during inflationary periods. 
A) The consumer price index is a good way of measuring inflation. 
B) Productivity decreases the purchasing power of consumer dollars. 
C) Inflation increases the purchasing power of consumer dollars. 
D) Localized price increases can cause inflation across the economic system. 
E) The amount of money tends to be distributed evenly during inflationary periods.

Question 14

Customer preferences must be taken into consideration across national boundaries,but not generally within the same country.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is the best description of outsourcing?

Accepted Answer

A) Any activity that adds value to some input by transforming it into an output for an internal or external customer 
B) An approach by which firms move away from department-oriented organization and toward process-oriented team structures that cut across old departmental boundaries 
C) The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials and resources 
D) The strategy of using the Internet and word-of-mouth marketing to spread product information 
E) The strategy of owning the means by which an organization produces goods or services 
A) Any activity that adds value to some input by transforming it into an output for an internal or external customer 
B) An approach by which firms move away from department-oriented organization and toward process-oriented team structures that cut across old departmental boundaries 
C) The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials and resources 
D) The strategy of using the Internet and word-of-mouth marketing to spread product information 
E) The strategy of owning the means by which an organization produces goods or services

Question 16

The total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located is gross domestic product (GDP).

Accepted Answer

A) True 
 B)False

Question 17

Why is it important for businesses to be aware of trends in the political? legal environment?

Accepted Answer

There are several reasons why it is impo

Question 18

Explain purchasing power parity.

Accepted Answer

Purchasing power parity is the

Question 19

New Vermont underwent a recession two years ago.How might New Vermont's aggregate output have been affected?

Accepted Answer

A recession is defined as a pe

Question 20

The government controls the size of the money supply through ________ policies.

Accepted Answer

A) revenue 
B) monetary 
C) inflation 
D) economic 
E) fiscal 
A) revenue 
B) monetary 
C) inflation 
D) economic 
E) fiscal

The growth rate of gross domestic product adjusted for inflation is referred to as which of the following?

Prevailing economic conditions affect mostly businesses that provide physical products,not businesses that provide intangible services.

What is the difference between pure and applied R&D?

The total value of all goods and services produced within a given period by a national economy within a nation's borders is

What is inflation and how does it threaten economic stability?

Low inflation will allow McDonald's to increase the prices it charges consumers.

Mary is temporarily out of work while she is looking for a new job.She is experiencing cyclical unemployment.

What is the collection and spending of government revenues called?

A defence that management adopts to make a firm less attractive to an actual or potential hostile suitor in a takeover attempt is called a poison pill.

What are the customs,values,attitudes,and demographic characteristics of the society in which a company operates called?

Which of the following best defines the term business cycle?

Real GDP is more important than nominal GDP.

Which of the following statements about inflation is true?

Customer preferences must be taken into consideration across national boundaries,but not generally within the same country.

Which of the following is the best description of outsourcing?

The total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located is gross domestic product (GDP).

Why is it important for businesses to be aware of trends in the political? legal environment?

Explain purchasing power parity.

New Vermont underwent a recession two years ago.How might New Vermont's aggregate output have been affected?

The government controls the size of the money supply through ________ policies.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 2: The Environment of Business

The growth rate of gross domestic product adjusted for inflation is referred to as which of the following?

Prevailing economic conditions affect mostly businesses that provide physical products,not businesses that provide intangible services.

What is the difference between pure and applied R&D?

The total value of all goods and services produced within a given period by a national economy within a nation's borders is

What is inflation and how does it threaten economic stability?

Low inflation will allow McDonald's to increase the prices it charges consumers.

Mary is temporarily out of work while she is looking for a new job.She is experiencing cyclical unemployment.

What is the collection and spending of government revenues called?

A defence that management adopts to make a firm less attractive to an actual or potential hostile suitor in a takeover attempt is called a poison pill.

What are the customs,values,attitudes,and demographic characteristics of the society in which a company operates called?

Which of the following best defines the term business cycle?

Real GDP is more important than nominal GDP.

Which of the following statements about inflation is true?

Customer preferences must be taken into consideration across national boundaries,but not generally within the same country.

Which of the following is the best description of outsourcing?

The total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located is gross domestic product (GDP).

Why is it important for businesses to be aware of trends in the political? legal environment?

Explain purchasing power parity.

New Vermont underwent a recession two years ago.How might New Vermont's aggregate output have been affected?

The government controls the size of the money supply through ________ policies.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters