Exam 2: The Environment of Business

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________ unemployment results because workers lack the right skills,while ________ unemployment results when people are temporarily out of work while they are looking for a new job.

(Multiple Choice)
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Which of the following would not likely be a consequence of a recession?

(Multiple Choice)
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A key goal of an economic system is stability.What is meant by stability in an economic system?

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An acquisition takes place when

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Mark is out of work because he lacks the skills needed to perform jobs that are available.He is experiencing structural unemployment.

(True/False)
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How does a poison pill work?

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Which of the following best describes nominal GDP?

(Multiple Choice)
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Historically Canada has been a creditor nation,while the United States has been a consistent debtor nation.In recent years,the large surpluses have disappeared,and Canada has had trade surpluses in some years and fairly large trade deficits in recent years.

(True/False)
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The socio-cultural environment includes things like attitudes and values,but not demographic factors because the latter cannot easily be changed.

(True/False)
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The chance that a society can achieve full employment is ________ percent.

(Multiple Choice)
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________ refers to the total quality and quantity of goods and services that a country's citizens can purchase with the currency used in their economic system.

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Which of the following best describes real GDP?

(Multiple Choice)
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List the five dimensions of the external environment of business organizations.

(Essay)
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Which of the following is correct regarding unemployment rates in Canada?

(Multiple Choice)
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When the economy shrinks for two consecutive quarters what term is used to describe it?

(Multiple Choice)
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Define the term unemployment.

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What is a recession?

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Sam,an audiologist,lost his job two years ago and still hasn't found work.There is just no market for audiologists currently.Sam is experiencing

(Multiple Choice)
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Why are customer preferences and tastes important to business?

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How might low inflation levels in the general economy affect a company like Tim Horton's?

(Multiple Choice)
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