Question 1

In the early 1980s, David Jimenez, a corporate finance manager, was faced with which of the following problems?

Accepted Answer

A)  High inflation rates 
B)  Competition from e-business firms 
C)  Too much productivity 
D)  Declining interest rates 
E)  A decline in the use of specialisation 
A)  High inflation rates 
B)  Competition from e-business firms 
C)  Too much productivity 
D)  Declining interest rates 
E)  A decline in the use of specialisation

Question 2

Some economists believe that sound fiscal and monetary policy can reduce the amount of time the economy is in the ____ stage of the business cycle.

Accepted Answer

A)  Recession 
B)  Recovery 
C)  repression 
D)  prosperity 
E)  Trough 
A)  Recession 
B)  Recovery 
C)  repression 
D)  prosperity 
E)  Trough

Question 3

All of the following are material resources for Toyota Motor Company except

Accepted Answer

A)  paint. 
B)  steel. 
C)  factory. 
D)  tires. 
E)  money. 
A)  paint. 
B)  steel. 
C)  factory. 
D)  tires. 
E)  money.

Question 4

The consumer price index (CPI)

Accepted Answer

A)  is a quarterly index that producers receive for their finished goods. 
B)  measures increases or decreases in the level of worker performance. 
C)  is the price of metals, lumber, and raw materials. 
D)  measures prices paid during periods of deflations. 
E)  is a monthly index that tracks the prices paid by consumers. 
A)  is a quarterly index that producers receive for their finished goods. 
B)  measures increases or decreases in the level of worker performance. 
C)  is the price of metals, lumber, and raw materials. 
D)  measures prices paid during periods of deflations. 
E)  is a monthly index that tracks the prices paid by consumers.

Question 5

Real gross domestic product is an economic measure that has been adjusted for price increases of goods and services during a given period of time.

Accepted Answer

A) True 
 B)False

Question 6

Today, managers and employees are no longer concerned about cultural diversity.

Accepted Answer

A) True 
 B)False

Question 7

Specialisation is meant to increase the efficiency of industrial workers.

Accepted Answer

A) True 
 B)False

Question 8

Capital or capital goods as recognised by economists would include all of the following except

Accepted Answer

A)  crude oil. 
B)  facilities. 
C)  money. 
D)  machinery. 
E)  computer equipment. 
A)  crude oil. 
B)  facilities. 
C)  money. 
D)  machinery. 
E)  computer equipment.

Question 9

Economists define a ____ as two consecutive three-month periods of decline in a country's gross domestic product.

Accepted Answer

A)  repression 
B)  prosperity 
C)  recession 
D)  trough 
E)  recovery 
A)  repression 
B)  prosperity 
C)  recession 
D)  trough 
E)  recovery

Question 10

Which of the following is not a characteristic of an oligopoly?

Accepted Answer

A)  There are few sellers. 
B)  The seller has considerable control over price. 
C)  Any duplication of facilities is wasteful. 
D)  Sizable investments are required to enter the market. 
E)  The market actions of each seller can strongly affect other sellers. 
A)  There are few sellers. 
B)  The seller has considerable control over price. 
C)  Any duplication of facilities is wasteful. 
D)  Sizable investments are required to enter the market. 
E)  The market actions of each seller can strongly affect other sellers.

Question 11

Which of the following is not a characteristic of the Great Depression?

Accepted Answer

A)  Stock prices decreased. 
B)  It was a period of misery and human suffering. 
C)  There was a near collapse of the nation's economy. 
D)  The government became less involved in business activities. 
E)  People lost faith in business and its ability to satisfy society's needs. 
A)  Stock prices decreased. 
B)  It was a period of misery and human suffering. 
C)  There was a near collapse of the nation's economy. 
D)  The government became less involved in business activities. 
E)  People lost faith in business and its ability to satisfy society's needs.

Question 12

According to Adam Smith, under laissez-faire capitalism, each person should be allowed to work toward his or her own economic gain without government interference.

Accepted Answer

A) True 
 B)False

Question 13

As the price of a product increases, the amount of the product that a producer is willing to supply increases.

Accepted Answer

A) True 
 B)False

Question 14

In the mid-1970s, auto manufacturers produced big gas-guzzling cars and tried to sell them to consumers who needed fuel-efficient transportation.This happened because manufacturers

Accepted Answer

A)  lost sight of consumers' needs. 
B)  attempted to satisfy consumers' needs. 
C)  followed consumers' wants too closely. 
D)  knew the economy would rise again. 
E)  did not expect a profit. 
A)  lost sight of consumers' needs. 
B)  attempted to satisfy consumers' needs. 
C)  followed consumers' wants too closely. 
D)  knew the economy would rise again. 
E)  did not expect a profit.

Question 15

Which of the following is not a characterisation of a depression?

Accepted Answer

A)  High unemployment rates 
B)  Lower stock values 
C)  Two or more consecutive six-month periods of GDP decline 
D)  General decrease in business activity 
E)  General lack of confidence in the economy by members of the population 
A)  High unemployment rates 
B)  Lower stock values 
C)  Two or more consecutive six-month periods of GDP decline 
D)  General decrease in business activity 
E)  General lack of confidence in the economy by members of the population

Question 16

The government uses taxes to purchase resources and products required to provide services.

Accepted Answer

A) True 
 B)False

Question 17

To compare the productivity of the United States to that of Japan, one should examine their respective

Accepted Answer

A)  defence budgets. 
B)  trade deficits. 
C)  gross domestic products. 
D)  stock markets' performance. 
E)  consumer price indices. 
A)  defence budgets. 
B)  trade deficits. 
C)  gross domestic products. 
D)  stock markets' performance. 
E)  consumer price indices.

Question 18

Macroeconomists often study the effect of taxes, government spending, interest rates, and similar factors on a nation's economy.

Accepted Answer

A) True 
 B)False

Question 19

During which stage of the business cycle would a company such as Intel begin to focus on being more value conscious in its production decisions?

Accepted Answer

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

Question 20

The system in which raw materials are distributed by entrepreneurs to homes in which family members process those materials into finished products is referred to as

Accepted Answer

A)  the factory system. 
B)  an apprenticeship. 
C)  specialisation. 
D)  free enterprise. 
E)  the domestic system. 
A)  the factory system. 
B)  an apprenticeship. 
C)  specialisation. 
D)  free enterprise. 
E)  the domestic system.

In the early 1980s, David Jimenez, a corporate finance manager, was faced with which of the following problems?

Some economists believe that sound fiscal and monetary policy can reduce the amount of time the economy is in the ____ stage of the business cycle.

All of the following are material resources for Toyota Motor Company except

The consumer price index (CPI)

Real gross domestic product is an economic measure that has been adjusted for price increases of goods and services during a given period of time.

Today, managers and employees are no longer concerned about cultural diversity.

Specialisation is meant to increase the efficiency of industrial workers.

Capital or capital goods as recognised by economists would include all of the following except

Economists define a ____ as two consecutive three-month periods of decline in a country's gross domestic product.

Which of the following is not a characteristic of an oligopoly?

Which of the following is not a characteristic of the Great Depression?

According to Adam Smith, under laissez-faire capitalism, each person should be allowed to work toward his or her own economic gain without government interference.

As the price of a product increases, the amount of the product that a producer is willing to supply increases.

In the mid-1970s, auto manufacturers produced big gas-guzzling cars and tried to sell them to consumers who needed fuel-efficient transportation.This happened because manufacturers

Which of the following is not a characterisation of a depression?

The government uses taxes to purchase resources and products required to provide services.

To compare the productivity of the United States to that of Japan, one should examine their respective

Macroeconomists often study the effect of taxes, government spending, interest rates, and similar factors on a nation's economy.

During which stage of the business cycle would a company such as Intel begin to focus on being more value conscious in its production decisions?

The system in which raw materials are distributed by entrepreneurs to homes in which family members process those materials into finished products is referred to as

Responsible Business

Global Business

Types of Business Ownership

Small Business, Entrepreneurship, and Franchises

Leadership and Managing a Business

Flexibility Within the Organisation

Products and Services

Recruitment and Retaining the Best Employees

Employee Motivation and Team Building

The Marketing Concept

Aproduct Development and Pricing Strategies

Marketing Channels

Marketing Communications

Social Media and E-Business

Introduction to Management Accounting

Money and the Banking System

Financial Management

Personal Finances and Investments

Filters

Exam 1: Introduction to Business

In the early 1980s, David Jimenez, a corporate finance manager, was faced with which of the following problems?

Some economists believe that sound fiscal and monetary policy can reduce the amount of time the economy is in the ____ stage of the business cycle.

All of the following are material resources for Toyota Motor Company except

The consumer price index (CPI)

Real gross domestic product is an economic measure that has been adjusted for price increases of goods and services during a given period of time.

Today, managers and employees are no longer concerned about cultural diversity.

Specialisation is meant to increase the efficiency of industrial workers.

Capital or capital goods as recognised by economists would include all of the following except

Economists define a ____ as two consecutive three-month periods of decline in a country's gross domestic product.

Which of the following is not a characteristic of an oligopoly?

Which of the following is not a characteristic of the Great Depression?

According to Adam Smith, under laissez-faire capitalism, each person should be allowed to work toward his or her own economic gain without government interference.

As the price of a product increases, the amount of the product that a producer is willing to supply increases.

In the mid-1970s, auto manufacturers produced big gas-guzzling cars and tried to sell them to consumers who needed fuel-efficient transportation.This happened because manufacturers

Which of the following is not a characterisation of a depression?

The government uses taxes to purchase resources and products required to provide services.

To compare the productivity of the United States to that of Japan, one should examine their respective

Macroeconomists often study the effect of taxes, government spending, interest rates, and similar factors on a nation's economy.

During which stage of the business cycle would a company such as Intel begin to focus on being more value conscious in its production decisions?

The system in which raw materials are distributed by entrepreneurs to homes in which family members process those materials into finished products is referred to as

Responsible Business

Global Business

Types of Business Ownership

Small Business, Entrepreneurship, and Franchises

Leadership and Managing a Business

Flexibility Within the Organisation

Products and Services

Recruitment and Retaining the Best Employees

Employee Motivation and Team Building

The Marketing Concept

Aproduct Development and Pricing Strategies

Marketing Channels

Marketing Communications

Social Media and E-Business

Introduction to Management Accounting

Money and the Banking System

Financial Management

Personal Finances and Investments

Filters