Question 1

McDonalds kept its U.S.-based menu when entering the Chinese market.

Accepted Answer

A) True 
 B)False  False

Question 2

The amount of cost cutting technical innovation introduced into a production process is a function of:

Accepted Answer

A) technology only. 
B) technology and consumer acceptance. 
C) consumer acceptance only. 
D) none of the above. 
A) technology only. 
B) technology and consumer acceptance. 
C) consumer acceptance only. 
D) none of the above. B

Question 3

In 2012, all of fast-food chains expanded their hours of operation, with nearly 40% of all McDonald's restaurants being open 24 hours per day.This strategy was aimed at increasing sales because:

Accepted Answer

A) it was estimated that nearly one-fifth of all employed Americans worked primarily in the evening contributing to the demand for fast-food in late hours. 
B) it was estimated that consumers who shop at night tend to be more price sensitive. 
C) it was believed that longer hours of operation would lead to greater brand loyalty. 
D) none of the above. 
A) it was estimated that nearly one-fifth of all employed Americans worked primarily in the evening contributing to the demand for fast-food in late hours. 
B) it was estimated that consumers who shop at night tend to be more price sensitive. 
C) it was believed that longer hours of operation would lead to greater brand loyalty. 
D) none of the above. A

Question 4

For much of 2001 and 2002, McDonalds faced a(n):

Accepted Answer

A) decrease in demand. 
B) increase in demand. 
C) increase in profits. 
D) none of the above. 
A) decrease in demand. 
B) increase in demand. 
C) increase in profits. 
D) none of the above.

Question 5

In terms of location decisions, firms evaluate the extent to which the labor force is unionized.

Accepted Answer

A) True 
 B)False

Question 6

If a good is price elastic, an increase in price will increase total revenues.

Accepted Answer

A) True 
 B)False

Question 7

The Chinese policy of one child per family provided McDonald's the opportunity to actively market to:

Accepted Answer

A) children. 
B) senior citizens. 
C) parents. 
D) none of the above. 
A) children. 
B) senior citizens. 
C) parents. 
D) none of the above.

Question 8

A joint venture allows a foreign firm to easier adjust to a new market and often meet various institutional requirements.

Accepted Answer

A) True 
 B)False

Question 9

In 2001-2002, the fast food industry underwent tremendous growth.

Accepted Answer

A) True 
 B)False

Question 10

In 2002 - 2003, some McDonalds' franchise owners reported that profits were declining from selling the discounted items from the Dollar Menu.This suggests that:

Accepted Answer

A) those items are price elastic. 
B) those items are price inelastic. 
C) those items are price unitary elastic. 
D) none of the above. 
A) those items are price elastic. 
B) those items are price inelastic. 
C) those items are price unitary elastic. 
D) none of the above.

Question 11

How did McDonalds address the obesity issue in China?

Accepted Answer

McDonalds entered a partnership with Chi

Question 12

In general, large current account deficits have to be financed by:

Accepted Answer

A) capital outflows abroad. 
B) capital inflows from abroad. 
C) trade barriers. 
D) none of the above. 
A) capital outflows abroad. 
B) capital inflows from abroad. 
C) trade barriers. 
D) none of the above.

Question 13

In 2002, this company was estimated to hold the largest share of the U.S.burger market:

Accepted Answer

A) McDonald's. 
B) Burger King. 
C) Wendy's. 
D) none of the above. 
A) McDonald's. 
B) Burger King. 
C) Wendy's. 
D) none of the above.

Question 14

Changing consumer taste and preferences, lawsuits, and competitive pressures adversely affect McDonald's sales.

Accepted Answer

A) True 
 B)False

Question 15

McDonalds has traditionally been popular among Chinese children.

Accepted Answer

A) True 
 B)False

Question 16

McDonald's can offset the decline in demand by influencing the different variables that affected the demand function for their products.

Accepted Answer

A) True 
 B)False

Question 17

McDonald's partnership with Beijing's Department of Agriculture provided:

Accepted Answer

A) McDonald's with subsidies , suppliers, and distributional channels. 
B) McDonald's with just subsidies. 
C) McDonald's with just distributional channels. 
D) all of the above. 
A) McDonald's with subsidies , suppliers, and distributional channels. 
B) McDonald's with just subsidies. 
C) McDonald's with just distributional channels. 
D) all of the above.

Question 18

An overvalued fixed exchange rate can be maintained only as long as:

Accepted Answer

A) the country's central bank reserves are available to support currency intervention in the foreign exchange market. 
B) the country's central bank can increase the domestic money supply. 
C) the country's government increases debt financing. 
D) none of the above. 
A) the country's central bank reserves are available to support currency intervention in the foreign exchange market. 
B) the country's central bank can increase the domestic money supply. 
C) the country's government increases debt financing. 
D) none of the above.

Question 19

McDonald's and its major competitors compete based:

Accepted Answer

A) only on the price. 
B) only on the basis of product characteristics. 
C) on both the price and product characteristics. 
D) none of the above because the fast-food industry is perfectly competitive. 
A) only on the price. 
B) only on the basis of product characteristics. 
C) on both the price and product characteristics. 
D) none of the above because the fast-food industry is perfectly competitive.

Question 20

To cut costs in the face of declining demand and increased competition, many fast food restaurants have focused on reducing:

Accepted Answer

A) labor costs. 
B) utility costs. 
C) paper napkin costs. 
D) none of the above. 
A) labor costs. 
B) utility costs. 
C) paper napkin costs. 
D) none of the above.

McDonalds kept its U.S.-based menu when entering the Chinese market.

The amount of cost cutting technical innovation introduced into a production process is a function of:

In 2012, all of fast-food chains expanded their hours of operation, with nearly 40% of all McDonald's restaurants being open 24 hours per day.This strategy was aimed at increasing sales because:

For much of 2001 and 2002, McDonalds faced a(n):

In terms of location decisions, firms evaluate the extent to which the labor force is unionized.

If a good is price elastic, an increase in price will increase total revenues.

The Chinese policy of one child per family provided McDonald's the opportunity to actively market to:

A joint venture allows a foreign firm to easier adjust to a new market and often meet various institutional requirements.

In 2001-2002, the fast food industry underwent tremendous growth.

In 2002 - 2003, some McDonalds' franchise owners reported that profits were declining from selling the discounted items from the Dollar Menu.This suggests that:

How did McDonalds address the obesity issue in China?

In general, large current account deficits have to be financed by:

In 2002, this company was estimated to hold the largest share of the U.S.burger market:

Changing consumer taste and preferences, lawsuits, and competitive pressures adversely affect McDonald's sales.

McDonalds has traditionally been popular among Chinese children.

McDonald's can offset the decline in demand by influencing the different variables that affected the demand function for their products.

McDonald's partnership with Beijing's Department of Agriculture provided:

An overvalued fixed exchange rate can be maintained only as long as:

McDonald's and its major competitors compete based:

To cut costs in the face of declining demand and increased competition, many fast food restaurants have focused on reducing:

Managers and Economics

Demand, Supply, and Equilibrium Prices

Demand Elasticities

Techniques for Understanding Consumer Demand and Behavior

Production and Cost Analysis in the Short Run

Production and Cost Analysis in the Long Run

Market Structure: Perfect Competition

Market Structure: Monopoly and Monopolistic Competition

Market Structure: Oligopoly

Pricing Strategies for the Firm

Measuring Macroeconomic Activity

Spending by Individuals, Firms, and Governments on Real Goods and Services

The Role of Money in the Macro Economy

The Aggregate Model of the Macro Economy

International and Balance of Payments Issues in the Macro Economy

Filters

Exam 16: Combining Micro and Macro Analysis for Managerial Decision Making

McDonalds kept its U.S.-based menu when entering the Chinese market.

The amount of cost cutting technical innovation introduced into a production process is a function of:

In 2012, all of fast-food chains expanded their hours of operation, with nearly 40% of all McDonald's restaurants being open 24 hours per day.This strategy was aimed at increasing sales because:

For much of 2001 and 2002, McDonalds faced a(n):

In terms of location decisions, firms evaluate the extent to which the labor force is unionized.

If a good is price elastic, an increase in price will increase total revenues.

The Chinese policy of one child per family provided McDonald's the opportunity to actively market to:

A joint venture allows a foreign firm to easier adjust to a new market and often meet various institutional requirements.

In 2001-2002, the fast food industry underwent tremendous growth.

In 2002 - 2003, some McDonalds' franchise owners reported that profits were declining from selling the discounted items from the Dollar Menu.This suggests that:

How did McDonalds address the obesity issue in China?

In general, large current account deficits have to be financed by:

In 2002, this company was estimated to hold the largest share of the U.S.burger market:

Changing consumer taste and preferences, lawsuits, and competitive pressures adversely affect McDonald's sales.

McDonalds has traditionally been popular among Chinese children.

McDonald's can offset the decline in demand by influencing the different variables that affected the demand function for their products.

McDonald's partnership with Beijing's Department of Agriculture provided:

An overvalued fixed exchange rate can be maintained only as long as:

McDonald's and its major competitors compete based:

To cut costs in the face of declining demand and increased competition, many fast food restaurants have focused on reducing:

Managers and Economics

Demand, Supply, and Equilibrium Prices

Demand Elasticities

Techniques for Understanding Consumer Demand and Behavior

Production and Cost Analysis in the Short Run

Production and Cost Analysis in the Long Run

Market Structure: Perfect Competition

Market Structure: Monopoly and Monopolistic Competition

Market Structure: Oligopoly

Pricing Strategies for the Firm

Measuring Macroeconomic Activity

Spending by Individuals, Firms, and Governments on Real Goods and Services

The Role of Money in the Macro Economy

The Aggregate Model of the Macro Economy

International and Balance of Payments Issues in the Macro Economy

Filters