Question 1

The ________ is a measure of the prices of a typical "basket of products" purchased by consumers.

Accepted Answer

A) consumer price index 
B) national debt 
C) balance of trade 
D) gross national product 
E) real GDP 
A) consumer price index 
B) national debt 
C) balance of trade 
D) gross national product 
E) real GDP

Question 2

Flavour Foods runs The Hungry Cow,a chain of fast food restaurants located all over the country.The chain has a loyal customer base and is well-known for its signature dishes like the Big Bite Burger,Springy Fries,and the Orange Float.The company is facing a critical decision: Should it expand its operations into China? Which of the following,if true,would weaken the argument for competing in the Chinese market?

Accepted Answer

A) Another fast food chain found that the time to recoup its investments in China was greater under the franchise model as opposed to the corporate chain store model. 
B) Chinese government policies can impose lengthy delays on businesses seeking food sale licenses. 
C) Studies show that modern Chinese consumers are more likely than previous generations to dine outside the home. 
D) When choosing a restaurant,Chinese consumers seek benefits beyond simple food quality. 
E) Expanding into every market within China would require more resources than The Hungry Cow has at its disposal. 
A) Another fast food chain found that the time to recoup its investments in China was greater under the franchise model as opposed to the corporate chain store model. 
B) Chinese government policies can impose lengthy delays on businesses seeking food sale licenses. 
C) Studies show that modern Chinese consumers are more likely than previous generations to dine outside the home. 
D) When choosing a restaurant,Chinese consumers seek benefits beyond simple food quality. 
E) Expanding into every market within China would require more resources than The Hungry Cow has at its disposal.

Question 3

Which of the following statements is correct?

Accepted Answer

A) GNP refers to the total value of all goods and services produced by a national economy. 
B) GDP refers to the total value of all goods and services produced by a national economy regardless of where the factors of production are located. 
C) Growth depends on output increasing at a faster rate than population. 
D) Per capita GDP is calculated by dividing purchasing power parity by the rate of inflation. 
E) Real GDP compares how much a system produces with the resources needed to produce it. 
A) GNP refers to the total value of all goods and services produced by a national economy. 
B) GDP refers to the total value of all goods and services produced by a national economy regardless of where the factors of production are located. 
C) Growth depends on output increasing at a faster rate than population. 
D) Per capita GDP is calculated by dividing purchasing power parity by the rate of inflation. 
E) Real GDP compares how much a system produces with the resources needed to produce it.

Question 4

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil.These profits are included in Brazil's

Accepted Answer

A) GDP. 
B) national employment. 
C) productivity. 
D) GNP. 
E) GPI. 
A) GDP. 
B) national employment. 
C) productivity. 
D) GNP. 
E) GPI.

Question 5

List the three primary factors that threaten economic stability.

Accepted Answer

Inflation,deflation,and unempl

Question 6

How is GDP per capita calculated?

Accepted Answer

GDP per capita is ca

Question 7

The "basket of goods" included in the Consumer Price Index has remained the same over the years so the government can make accurate year-to-year comparisons about the rate of inflation.

Accepted Answer

A) True 
 B)False

Question 8

Most successful firms are getting leaner by focusing on their ________,the skills and resources with which they compete best and create the most value for owners.

Accepted Answer

A) viral marketing 
B) core competencies 
C) processes 
D) business process management 
E) political-legal environment 
A) viral marketing 
B) core competencies 
C) processes 
D) business process management 
E) political-legal environment

Question 9

Outsourcing is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services.

Accepted Answer

A) True 
 B)False

Question 10

________ policy involves the collection and spending of government revenues,while ________ policy focuses on controlling the size of the nation's money supply.

Accepted Answer

A) Productivity;inflation 
B) Taxation;monetary 
C) Monetary;fiscal 
D) Fiscal;monetary 
E) National debt;annual deficit 
A) Productivity;inflation 
B) Taxation;monetary 
C) Monetary;fiscal 
D) Fiscal;monetary 
E) National debt;annual deficit

Question 11

The purchase of a company by another,larger firm that absorbs the smaller company into its operations is which of the following?

Accepted Answer

A) Absorption 
B) Acquisition 
C) Addition 
D) Procurement 
E) Obtainment 
A) Absorption 
B) Acquisition 
C) Addition 
D) Procurement 
E) Obtainment

Question 12

Honata Automobiles is a South Korean-owned company.Honata has factories in Indonesia and Brazil.Which of the following is/are affected by the production of Honata automobiles?

Accepted Answer

A) Indonesia,Brazil,and South Korea's GDP 
B) Indonesia and Brazil's GDP 
C) South Korea's GDP 
D) Indonesia and Brazil's GNP 
E) Indonesia,Brazil,and South Korea's GNP 
A) Indonesia,Brazil,and South Korea's GDP 
B) Indonesia and Brazil's GDP 
C) South Korea's GDP 
D) Indonesia and Brazil's GNP 
E) Indonesia,Brazil,and South Korea's GNP

Question 13

With respect to inflation and deflation,which is correct?

Accepted Answer

A) Inflation is caused when consumers buy too many luxury goods. 
B) When inflation occurs,people have more money to spend,and there will be an increased quantity of goods for sale. 
C) When inflation occurs,purchasing power decreases. 
D) Deflation is evident when the amount of money injected into the economic system increases faster than actual output. 
E) All of these statements are correct. 
A) Inflation is caused when consumers buy too many luxury goods. 
B) When inflation occurs,people have more money to spend,and there will be an increased quantity of goods for sale. 
C) When inflation occurs,purchasing power decreases. 
D) Deflation is evident when the amount of money injected into the economic system increases faster than actual output. 
E) All of these statements are correct.

Question 14

The primary objective of an ESOP is to

Accepted Answer

A) keep management from making bad decisions. 
B) protect against takeovers. 
C) prevent worker strikes. 
D) provide workers with financial security. 
E) motivate workers to work harder. 
A) keep management from making bad decisions. 
B) protect against takeovers. 
C) prevent worker strikes. 
D) provide workers with financial security. 
E) motivate workers to work harder.

Question 15

Social media tools serve many purposes in marketing communications.Some companies are using these tools to help in their ________ campaigns.They ask their customers to develop a new flavour,a new design,or a new slogan and to post them on various platforms for prizes and recognition.

Accepted Answer

A) relationship marketing 
B) customer relationship management 
C) crowdsourcing 
D) vertical integration 
E) horizontal communications 
A) relationship marketing 
B) customer relationship management 
C) crowdsourcing 
D) vertical integration 
E) horizontal communications

Question 16

Everything outside an organization's boundaries that might affect it is which of the following?

Accepted Answer

A) Foreign environment 
B) Outward environment 
C) Outside environment 
D) Exterior environment 
E) External environment 
A) Foreign environment 
B) Outward environment 
C) Outside environment 
D) Exterior environment 
E) External environment

Question 17

What is a vertical merger? Provide an example.

Accepted Answer

A vertical merger occurs when there is a

Question 18

Why is business process management important?

Accepted Answer

It is important because it requires a bu

Question 19

Which of the following is not one of the stages in the business cycle?

Accepted Answer

A) Peak 
B) Recovery 
C) Rebound 
D) Trough 
E) Recession 
A) Peak 
B) Recovery 
C) Rebound 
D) Trough 
E) Recession

Question 20

When Molson and Adolph Coors merged,this was an example of a horizontal merger.

Accepted Answer

A) True 
 B)False

The ________ is a measure of the prices of a typical "basket of products" purchased by consumers.

Which of the following statements is correct?

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil.These profits are included in Brazil's

List the three primary factors that threaten economic stability.

How is GDP per capita calculated?

The "basket of goods" included in the Consumer Price Index has remained the same over the years so the government can make accurate year-to-year comparisons about the rate of inflation.

Most successful firms are getting leaner by focusing on their ________,the skills and resources with which they compete best and create the most value for owners.

Outsourcing is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services.

policy involves the collection and spending of government revenues,while policy focuses on controlling the size of the nation's money supply.

The purchase of a company by another,larger firm that absorbs the smaller company into its operations is which of the following?

Honata Automobiles is a South Korean-owned company.Honata has factories in Indonesia and Brazil.Which of the following is/are affected by the production of Honata automobiles?

With respect to inflation and deflation,which is correct?

The primary objective of an ESOP is to

Social media tools serve many purposes in marketing communications.Some companies are using these tools to help in their ________ campaigns.They ask their customers to develop a new flavour,a new design,or a new slogan and to post them on various platforms for prizes and recognition.

Everything outside an organization's boundaries that might affect it is which of the following?

What is a vertical merger? Provide an example.

Why is business process management important?

Which of the following is not one of the stages in the business cycle?

When Molson and Adolph Coors merged,this was an example of a horizontal merger.

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 ________ is a measure of the prices of a typical "basket of products" purchased by consumers.

Which of the following statements is correct?

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil.These profits are included in Brazil's

List the three primary factors that threaten economic stability.

How is GDP per capita calculated?

The "basket of goods" included in the Consumer Price Index has remained the same over the years so the government can make accurate year-to-year comparisons about the rate of inflation.

Most successful firms are getting leaner by focusing on their ________,the skills and resources with which they compete best and create the most value for owners.

Outsourcing is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services.

________ policy involves the collection and spending of government revenues,while ________ policy focuses on controlling the size of the nation's money supply.

The purchase of a company by another,larger firm that absorbs the smaller company into its operations is which of the following?

Honata Automobiles is a South Korean-owned company.Honata has factories in Indonesia and Brazil.Which of the following is/are affected by the production of Honata automobiles?

With respect to inflation and deflation,which is correct?

The primary objective of an ESOP is to

Social media tools serve many purposes in marketing communications.Some companies are using these tools to help in their ________ campaigns.They ask their customers to develop a new flavour,a new design,or a new slogan and to post them on various platforms for prizes and recognition.

Everything outside an organization's boundaries that might affect it is which of the following?

What is a vertical merger? Provide an example.

Why is business process management important?

Which of the following is not one of the stages in the business cycle?

When Molson and Adolph Coors merged,this was an example of a horizontal merger.

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

policy involves the collection and spending of government revenues,while policy focuses on controlling the size of the nation's money supply.