Question 1

To counter parents' concerns about fast foods and childhood obesity, McDonalds considered:

Accepted Answer

A) a variety of menu items such as milk shakes and candy. 
B) a variety of menu items such as apple slices, fruit juices, peanut butter and jelly sandwiches, and carrot sticks. 
C) not changing the menu. 
D) all of the above. 
A) a variety of menu items such as milk shakes and candy. 
B) a variety of menu items such as apple slices, fruit juices, peanut butter and jelly sandwiches, and carrot sticks. 
C) not changing the menu. 
D) all of the above.

Question 2

When entering the Chinese market, McDonalds had to confront:

Accepted Answer

A) mainly technical issues. 
B) mainly political issues. 
C) mainly cultural issues. 
D) all of the above. 
A) mainly technical issues. 
B) mainly political issues. 
C) mainly cultural issues. 
D) all of the above.

Question 3

In China, beef is considered a:

Accepted Answer

A) luxury. 
B) necessity. 
C) close substitute for chicken. 
D) none of the above. 
A) luxury. 
B) necessity. 
C) close substitute for chicken. 
D) none of the above.

Question 4

Multinational companies can easily apply identical production methods in different countries and obtain the same results.

Accepted Answer

A) True 
 B)False

Question 5

In 2001 and 2002, McDonald's tried to improve the quality of its service by hiring mystery shoppers to evaluate service, cleanliness, and food quality.

Accepted Answer

A) True 
 B)False

Question 6

If capital inflows decrease due to higher interest rates in other countries and large amounts of import spending, there will be:

Accepted Answer

A) upward pressure on a country's exchange rate. 
B) downward pressure on a country's exchange rate. 
C) no pressure on a country's exchange rate. 
D) none of the above. 
A) upward pressure on a country's exchange rate. 
B) downward pressure on a country's exchange rate. 
C) no pressure on a country's exchange rate. 
D) none of the above.

Question 7

Although McDonalds operates in a market structure with many competitors and substitute foods, it often engages in ________ with its major fast food competitors.

Accepted Answer

A) monopoly behavior. 
B) oligopoly behavior. 
C) competitive behavior. 
D) none of the above. 
A) monopoly behavior. 
B) oligopoly behavior. 
C) competitive behavior. 
D) none of the above.

Question 8

The decrease in demand faced by McDonalds during 2001-2002 can be attributed to:

Accepted Answer

A) decrease in consumer preference for high-fat content food. 
B) increase in lawsuits. 
C) increase in competitive pressures. 
D) all of the above. 
A) decrease in consumer preference for high-fat content food. 
B) increase in lawsuits. 
C) increase in competitive pressures. 
D) all of the above.

Question 9

If a good is price elastic, a decrease in price will:

Accepted Answer

A) decrease total revenue. 
B) increase total revenue. 
C) not affect revenue. 
D) none of the above. 
A) decrease total revenue. 
B) increase total revenue. 
C) not affect revenue. 
D) none of the above.

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

How did McDonalds address the drive-through innovation in China?

Accepted Answer

Customers had to be taught how

Question 12

Give some examples of oligopolistic behavior among the major fast food companies.

Accepted Answer

The companies typica

Question 13

The quoted in the textbook study of consumer behavior at Starbucks company stores demonstrated that including calorie count on menus had no impact on consumer behavior.

Accepted Answer

A) True 
 B)False

Question 14

Briefly state several reasons for the decline in sales for McDonald's in 2001-2002.

Accepted Answer

Consumer tastes and preferences changed

Question 15

How did McDonald's attempt to address the cultural differences around the world in selling its product?

Accepted Answer

For example, McDonald's design

Question 16

In terms of location decisions, firms evaluate the infrastructure of the area in terms of access to transportation as well as the quality of life.

Accepted Answer

A) True 
 B)False

Question 17

As McDonald's expanded globally, it was able to achieve:

Accepted Answer

A) economies of scope. 
B) economies of scale. 
C) diseconomies of scale. 
D) none of the above. 
A) economies of scope. 
B) economies of scale. 
C) diseconomies of scale. 
D) none of the above.

Question 18

If a good is price inelastic, a decrease in price will:

Accepted Answer

A) decrease total revenue. 
B) increase total revenue. 
C) not affect income. 
D) none of the above. 
A) decrease total revenue. 
B) increase total revenue. 
C) not affect income. 
D) none of the above.

Question 19

The study quoted in the text demonstrated that calorie posting did not cause any significant changes in Starbucks revenue over all.

Accepted Answer

A) True 
 B)False

Question 20

Managers in firms with market power can:

Accepted Answer

A) not influence price. 
B) develop strategies that involve both the demand and supply sides of the market. 
C) only focus on the demand side of the market. 
D) none of the above. 
A) not influence price. 
B) develop strategies that involve both the demand and supply sides of the market. 
C) only focus on the demand side of the market. 
D) none of the above.

To counter parents' concerns about fast foods and childhood obesity, McDonalds considered:

When entering the Chinese market, McDonalds had to confront:

In China, beef is considered a:

Multinational companies can easily apply identical production methods in different countries and obtain the same results.

In 2001 and 2002, McDonald's tried to improve the quality of its service by hiring mystery shoppers to evaluate service, cleanliness, and food quality.

If capital inflows decrease due to higher interest rates in other countries and large amounts of import spending, there will be:

Although McDonalds operates in a market structure with many competitors and substitute foods, it often engages in ________ with its major fast food competitors.

The decrease in demand faced by McDonalds during 2001-2002 can be attributed to:

If a good is price elastic, a decrease in price will:

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

How did McDonalds address the drive-through innovation in China?

Give some examples of oligopolistic behavior among the major fast food companies.

The quoted in the textbook study of consumer behavior at Starbucks company stores demonstrated that including calorie count on menus had no impact on consumer behavior.

Briefly state several reasons for the decline in sales for McDonald's in 2001-2002.

How did McDonald's attempt to address the cultural differences around the world in selling its product?

In terms of location decisions, firms evaluate the infrastructure of the area in terms of access to transportation as well as the quality of life.

As McDonald's expanded globally, it was able to achieve:

If a good is price inelastic, a decrease in price will:

The study quoted in the text demonstrated that calorie posting did not cause any significant changes in Starbucks revenue over all.

Managers in firms with market power can:

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

To counter parents' concerns about fast foods and childhood obesity, McDonalds considered:

When entering the Chinese market, McDonalds had to confront:

In China, beef is considered a:

Multinational companies can easily apply identical production methods in different countries and obtain the same results.

In 2001 and 2002, McDonald's tried to improve the quality of its service by hiring mystery shoppers to evaluate service, cleanliness, and food quality.

If capital inflows decrease due to higher interest rates in other countries and large amounts of import spending, there will be:

Although McDonalds operates in a market structure with many competitors and substitute foods, it often engages in ________ with its major fast food competitors.

The decrease in demand faced by McDonalds during 2001-2002 can be attributed to:

If a good is price elastic, a decrease in price will:

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

How did McDonalds address the drive-through innovation in China?

Give some examples of oligopolistic behavior among the major fast food companies.

The quoted in the textbook study of consumer behavior at Starbucks company stores demonstrated that including calorie count on menus had no impact on consumer behavior.

Briefly state several reasons for the decline in sales for McDonald's in 2001-2002.

How did McDonald's attempt to address the cultural differences around the world in selling its product?

In terms of location decisions, firms evaluate the infrastructure of the area in terms of access to transportation as well as the quality of life.

As McDonald's expanded globally, it was able to achieve:

If a good is price inelastic, a decrease in price will:

The study quoted in the text demonstrated that calorie posting did not cause any significant changes in Starbucks revenue over all.

Managers in firms with market power can:

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