Business: International Trade and B. Technology

BUS100 Sample Exam 1 Student1. Which of the pastime organizations is an example of the goods-producing sector of the economy? A. Ford labor Comp whatsoever B. Florida secern University C. Childrens Hospital D. H R Block evaluate income Consulting2. Which of the statements ab off demography is close close? Demographic studies A. focus on factors that have great political relevance, but little relevance to rub down firms. B. suggest that the number of two-income families will decline in the future. C. rovide job line and individuals with insights into business and c beer opportunities of the future. D. are an important source of information about changes in weather and climate.3. Public schools, charities and g everywherenment agencies are not classified as businesses because they A. have not been in incorporated. B. do not seek to earn a profit. C. provide renovations rather than goods. D. do not have any stockholders.4. In entrap to make an intelligent layment decisio n, entrepreneurs should A. limit their options to those business investments that are backed by the U. S. government. B. nvest in businesses that have generated a invariable rate of profit for at least the past ten years. C. invest only in business opportunities where it is possible to put forward an active office in management. D. compare the finds of potential investments to their bideed profits and find the full balance between profit and risk.5. Which of the hobby entails the greatest come up of risk? A. Working for the government. B. Working for a large business. C. Working for a subtle business. D. Starting a business.6. Which of the following policies would tend to foster entrepreneurship? A. establishing a notes that is tradable on world markets. B. establishing more than rulers to protect the environment. C. developing policies to reduce putrescence between individuals. D. all(a)owing public ownership of businesses.7. When businesses sell to other(a) business es over the Internet, these legal proceeding are known as A. B2C transactions. B. e-wholesale transactions. C. B2B transactions. D. intermediate e-commerce transactions.8. Which of the following is an advantage of utilizing engineering science? A. Technology increases the cost of harvest-tideion. B. Technology reduces the need for a marketing plan. C. productivity increases. D. Management becomes isolated from the demands of stakeholders.9. All around the world, countries are trying to pee more wealth by A. raising taxes. B. selling government-owned businesses to private individuals. C. close trade with other countries in order to protect local businesses. D. attempting to do more gold through outside(prenominal) trade.10. ___________ means producing items with the least amount of resources. A. Efficiency B. Technology C. E-production D. Productivity11. In the rural area of Equalia, umteen businesses are privately owned, but the government owns some of the basic businesse s and has developed many companionable programs designed to promote social equality. The economy of Equalia would be considered an example of A. complete(a) capitalism. B. communism. C. mercantilism. D. communism.12. __________ unemployment refers to those people who have quite work because they didnt like the think over, the boss, or the works conditions and who havent yet found a new job. A. Frictional B. Structural C. rotary D. Seasonal13. One benefit of the rights and freedoms of capitalism is that A. people feel safe and dont take any risks in business. B. people are willing to take more risks than they would otherwise. C. eople dont have to choose where they will work. D. the legal injurys of inevitable products are always very(prenominal) low.14. __________ unemployment refers to unemployment caused by the restructuring of firms or by a mismatch between the skills of job seekers and the requirements of available jobs. A. Frictional B. Structural C. Cyclical D. Seasona l15. Which of the following statements provides the close accurate comparison of socialism and communism? A. Under socialism the government owns most businesses, while under communism the church owns most businesses. B. Both socialism and communism want to achieve a more equal dissemination of income and wealth, but under communism the government takes more control over peoples lives. C. Socialism filtrates for an equal distribution of income but communism wants income to go chiefly to those who own and operate private businesses. D. Communism believes that the government should always strive to balance its budget, while socialism accepts deficit spending as the price of achieving true equality.16. A collapse in the national banking system of Lasia has resulted in a condition where prices are actually declining. This condition is known as A. disinflation. B. deflation. C. contra inflation. D. overproduction.17. One of the most significant problems faced by communist economies is A. a great inequality in the distribution of wealth and income. B. severe inflationary pressures due to rapid economic growth. C. too little government regulation of economic activity. D. persistent shortages of basic goods such as food and clothing.18. doubting Thomas Malthus was pessimistic about the ability of societies to achieve towering standards of living for most of their citizens because he believed that A. the government had a natural tendency to run deficits that would in the end bankrupt the country. B. population growth would result in shortages of food and resources. C. owners of businesses would designedly exploit their employees in an attempt to earn greater profits, and this would ultimately drop dead to a workers revolt. D. high tax rates would eventually undermine peoples incentives to work hard and create wealth.19. Which of the following statements about the Federal Reserve brass (the Fed) is most accurate? A. The Fed is an agency of the U. S. Treasury Dep artment that has the righteousness of collecting tax receipts for the IRS. B. The Fed manages the U. S. gold supply and have-to doe with rates. C. The Fed is the primary government agency involved in carrying out our nations fiscal policies. D. The Fed is the agency of the government that ensures the U. S. maintains enough gold militia to pay any foreign debts that result from international trade.20. The nation of Nadiria is in the midst of a terrible economic downturn. The nations GDP has been declining steadily for over five years and is now at its lowest level in over fifty years. Nadirias unemployment rate is at an all time high and the nations CPI is falling. Nadiria is experiencing a A. period of stagflation. B. balance of trade deficit. C. depression. D. retraction.21. Mortavia is a pocket-sized nation that has followed protectionist policies for many years. Which of the following would be an example of a nontariff rampart established by Mortavia? A. face of a tax levi ed on trade goods so that foreign products are more dearly-won than competing domestic goods. B. Establishment of a tax levied on imported goods designed primarily to kindle money for the government. C. Establishment of restrictive quality standards requiring foreign firms to make expensive modifications in their products before they can be sold in Mortavia. D. involution in the Uruguay Round of GATT negotiations.22. The two basic types of tariffs are A. goods and services. B. general and exceptional. C. proportional and absolute. D. taxation and protective.23. __________ is an arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell a product or service to others in a given territory in a specified manner. A. Franchising B. Contract manufacturing C. Import trading D. Export trading24. The dissimilitude between money coming into a country (from exports) and money sledding the country (for imports) plus money flows from o ther factors such as tourism, foreign aid, and military expenditures is referred to as the A. balance of payments. B. balance of trade. C. balance of money flows. D. replace rate.25. The largest importer in the planetary market today is A. Japan. B. Russia. C. Germany. D. the United States.26. The emerging nation of Lancerland has enacted a tariff on imported rock oil in order to raise money for their new government. This trade restriction is an example of a(n) ________ tariff. A. revenue B. rotective C. percentage D. fixed27. A Mexican firm has conditiond to trade petroleum to an American importer in return for U. S. made computers. This arrangement is an example of A. a letter of credit arrangement. B. a nontariff trade. C. arbitrage. D. barter.28. The second wave of offshore outsourcing refers to A. paltry jobs to South America in entree to China. B. piteous skilled service jobs such as those in accounting offshore. C. moving jobs to India in addition to China. D. moving m anufacturing jobs offshore.29. One advantage of free trade is A. jobs are shifted to low-wage global markets. B. service jobs are moved overseas. C. advanced production operations are built in low-wage countries. D. innovation for new products occurs and keeps firms competitively challenged.30. Casey is typical of many U. S. businesspeople. Casey feels the U. S. culture should be the model for the rest of the world, and that the American way of doing things is the best. Casey is dishonored of A. ethnic plagiarism. B. ethnocentricity. C. culture shock. D. counter culture.31. After developing a edict of ethical motive, it should be communicated to A. everyone with whom the business has dealings. B. the Attorney General in jurisdictions where the business has operations. C. all levels of management. D. stockholders.32. Management and employees at Boyer Enterprises are given time off for each one year to work in local charities. This firm clearly practices A. corporate philanthropy. B. social irresponsibility. C. community mediation services. D. participative funding.33. A friend offers to share with you a term paper she prepared for her Introduction to Business class bear semester. When you tell her that it wouldnt be fair, she reminds you of your habit of reading an entire Harry fiddle book at the local bookstore without paying for the book. Which ethics-based question would be the most helpful in evaluating these situations? A. Is it legal? B. Am I playacting fairly? C. Who wins and who loses? D. Will I get caught?34. Environmental quality is considered to be a public good. This means that A. ultimately it is the public that pays for environmental just up. B. businesses have a responsibility to minimize their environmental pollution. C. everyone enjoys a fresh environment regard slight of who pays for it. D. society places a higher value on private goods and services.35. The first dance step when facing an honourable dilemma is to call for A. Is it l egal? B. Is it balanced? C. How will it make me feel about myself? D. Is it ethical? 36. When working with international firms, U. S. businesses A. tend to ignore the ethics of their international partners. B. expect socially responsible appearance from their business partners. C. feel that their responsibility is limited to the United States. D. try to avoid judging our international business partners by U. S. standards.37. Which of the following is the most important step to help improve Americas business ethics? A. middle management support B. training C. enforcement D. identification of the organisational ethics officer38. The danger in writing new laws to correct behavior is that A. people may begin to think that any behavior that is inside the law is acceptable. B. people will see the difference between ethics and legality. C. legal behavior will reflect the totality of peoples proper relations with one another. D. there will not be enough jails to dwelling house those wh o break the law.39. Critics of corporate social responsibility view spending money on CSR as A. a necessary evil. B. stealing from investors. C. important for America. D. moving toward capitalism.40. Obeying the law is ________ ethical behavior. A. essentially the same as B. the first step towards C. the opposite of D. unlikely to lead to41. One of the newest items on the Cajun Cookin menu is a spicy Cajun-burger. Sondra was quite surprised to learn that how she made this burger was regulated by the A. Federal Trade Commission. B. Food and Drug Administration. C. Federal Nutritional Association. D. State Board of Food Examiners.42. One of the reasons you bought your mom a name-brand social for Mothers solar day was that it came with a full warranty. This means that A. the mixer is guaranteed to last for 10 years with normal use. B. the mixer will make wonderful baked goods as well as pasta. C. the mixer will be repaired or replaced at no charge if it is defective. D. only the moto r is covered by the mixer manufacturer.43. One result of deregulation in the airline industry has been A. less intense competition. B. increase aviation related fatalities. C. higher prices for consumers. D. lower prices for consumers.44. You agree to sell your car to your neighbor for $5,000. You and your neighbor have provided each other A. duress. B. consideration. C. an endorsement. D. an expressed warranty.45. Which of the following do school districts utilize to generate needed funding? A. sin tax B. sales tax C. property tax D. income tax46. The remedy for a tort is A. imprisonment. B. a breach of contract. C. failure. D. monetary compensation.47. Which of the following protects the original work of authors and artists (i. e. , their books, photos, or cartoons)? A. a trademark B. a right of first publication C. the Uniform Commercial Code D. a patent48. The Griggs v. Duke Power Company (1971) oddball established a precedent on the need to use job-related tests in employment practices. Similar court cases have been decided based on this decision. This is an example of A. common law. B. statutory law. C. administrative law. D. criminal law.49. Which of the following is a requirement for commercial paper to be considered a negotiable musical instrument? It must A. be signed in approval by a third party. B. contain a conditional promise to pay. C. be a promise to pay a specified amount of money. D. be an oral agreement between two or more parties.50. In which of the following does the creditor start legal procedures? A. debtor initiatives B. voluntary bankruptcy C. involuntary bankruptcy D. creditor restructuringBUS100 Sample Exam 1 Key 1. (p. 20)A 2. (p. 16)C 3. (p. 7)B 4. (p. 4-5)D 5. (p. 8)D 6. (p. 12)A 7. (p. 14)C 8. (p. 13)C 9. p. 12)B 10. (p. 13)A 11. (p. 41)B 12. (p. 47, figure 2. 6)A 13. (p. 36)B 14. (p. 47, figure 2. 6)B 15. (p. 42)B 16. (p. 47)B 17. (p. 42)D 18. (p. 31)B 19. (p. 51)B 20. (p. 49)C 21. (p. 76)C 22. (p. 75-76)D 23. (p. 67)A 24. (p. 64)A 25. (p. 60)D 26. (p. 76)A 27. (p. 74)D 28. (p. 81)B 29. (p. 62 figure 3. 2)D 30. (p. 71)B 31. (p. 97)A 32. (p. 99-100)A 33. (p. 92)B 34. (p. 106)C 35. (p. 92)A 36. (p. 108)B 37. (p. 97)C 38. (p. 90)A 39. (p. 99)B 40. (p. 90)B 41. (p. 585, figure A. 4)B 42. (p. 579)C 43. (p. 588)D 44. (p. 580)B 45. (p. 584)C 46. (p. 576)D 47. (p. 578)B 48. (p. 574)A 49. (p. 580)C 50. (p. 586)C