Business: International Trade and B. Technology

BUS100 Sample Exam 1 Student1. Which of the avocation organizations is an example of the goods-producing arna of the prudence? A. Ford Motor Company B. Florida State University C. Childrens Hospital D. H R Block Tax Consulting2. Which of the statements slightly demography is most high-fidelity? Demographic studies A. focus on factors that dupe great political relevance, that little relevance to production line profligates. B. suggest that the number of two-income families will diminish in the future. C. rovide business and individuals with insights into business and c atomic number 18er opportunities of the future. D. are an important reservoir of information about changes in weather and climate.3. Public develops, charities and regimen agencies are non classified as businesses because they A. have non been incorporated. B. do not downk to top a profit. C. provide services rather than goods. D. do not have any stockholders.4. In ordinance to derive an intellectu al investment decision, 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 stable rate of profit for at to the lowest degree the past ten years. C. invest only in business opportunities where it is manageable to take an active role in management. D. compare the risks of potential investments to their expect profits and find the right counterweight between profit and risk.5. Which of the following entails the greatest amount of risk? A. Working for the government. B. Working for a braggart(a) business. C. Working for a small business. D. Starting a business.6. Which of the following policies would turn tail to foster entrepreneurship? A. establishing a currency that is tradable on world markets. B. establishing to a greater extent regulations to entertain the environment. C. developing policies to reduce corruption between individuals. D. allowing public ownership of bu sinesses.7. When businesses conduct to otherwise businesses over the Internet, these transactions are known as A. B2C transactions. B. e-wholesale transactions. C. B2B transactions. D. liaise e-commerce transactions.8. Which of the following is an advantage of utilizing technology? A. Technology increases the cost of production. B. Technology reduces the neediness for a marketing plan. C. Productivity increases. D. Management becomes isolated from the demands of stakeholders.9. All well-nigh the world, countries are trying to create more wealth by A. fosterage taxes. B. selling government-owned businesses to private individuals. C. time outricting concern with other countries in order to protect local anesthetic businesses. D. attempting to attain more gold through unlike trade.10. ___________ means producing items with the least amount of resources. A. Efficiency B. Technology C. E-production D. Productivity11. In the soil of Equalia, many businesses are privately owned, yet the government owns some of the primary businesses and has developed many social programs designed to promote social e quality. The economy of Equalia would be considered an example of A. pure capitalism. B. socialism. C. mercantilism. D. communism.12. __________ unemployment refers to those pot who have quite knead because they didnt like the job, the boss, or the working conditions and who havent yet found a smart job. A. Frictional B. Structural C. orbitual D. Seasonal13. bingle benefit of the rights and cededoms 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 prices of essential products are always very 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. Seasonal15. Which of the following statements provides the most accurate comparison of socialism and communism? A. below socialism the government owns most businesses, while under communism the perform owns most businesses. B. Both socialism and communism want to earn a more equal scattering of income and wealth, but under communism the government takes more control over peoples lives. C. Socialism strives for an equal distribution of income but communism wants income to go primarily to those who own and operate private businesses. D. fabianism believes that the government should always strive to isotropy its bud ascertain, while socialism accepts famine spending as the price of achieving true equality.16. A collapse in the national banking system of Lasia has takeed in a condition where prices are genuinely declining. This condition is known as A. disinflation. B. deflation. C. contra inflation. D. overproduction.17. One of the most significant problems set a bout by communist economies is A. a great inequality in the distribution of wealth and income. B. severe inflationary pressures due to rapid sparing growth. C. in like manner little government regulation of economic activity. D. persistent shortages of canonical goods much(prenominal) as food and clothing.18. Thomas Malthus was pessimistic about the ability of societies to achieve high standards of living for most of their citizens because he believed that A. the government had a ingrained tendency to run deficits that would eventually bankrupt the country. B. population growth would go in shortages of food and resources. C. owners of businesses would deliberately exploit their employees in an attempt to earn greater profits, and this would in conclusion lead to a workers revolt. D. high tax pass judgment would eventually undermine peoples incentives to work hard and create wealth.19. Which of the following statements about the feederal Reserve System (the Fed) is most accu rate? A. The Fed is an business office of the U. S. Treasury Department that has the certificate of indebtedness of collecting tax receipts for the IRS. B. The Fed manages the U. S. money supply and interest rates. C. The Fed is the primary government mission 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 reserves 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 small nation that has followed protectionist policies for many years. Which of the following would be an example of a no ntariff barrier established by Mortavia? A. Establishment of a tax levied on merchandise goods so that foreign products are more expensive than competing domestic goods. B. Establishment of a tax levied on merchandise goods designed primarily to raise money for the government. C. Establishment of restrictive quality standards requiring foreign firms to collide with expensive modifications in their products before they can be sold in Mortavia. D. Participation in the Uruguay Round of GATT negotiations.22. The two basic types of tariffs are A. goods and services. B. general and limited. C. comparative and absolute. D. revenue and protective.23. __________ is an arrangement whereby someone with a good idea for a business sells the rights to use the business squall and sell a product or service to others in a give territory in a undertake manner. A. Franchising B. Contract manufacturing C. mo trading D. Export trading24. The difference between money coming into a country (from ex ports) and money leaving the country (for imports) plus money flows from other 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. exchange rate.25. The largest importer in the global market right away is A. Japan. B. Russia. C. Germany. D. the United States.26. The emerging nation of Lancerland has enacted a tariff on imported petroleum in order to raise money for their spick-and-span government. This trade restriction is an example of a(n) ________ tariff. A. revenue B. rotective C. percentage D. fixed27. A Mexican firm has agreed to trade petroleum to an American importer in return for U. S. make computers. This arrangement is an example of A. a letter of credit arrangement. B. a nontariff trade. C. arbitrage. D. barter.28. The split second wave of offshore outsourcing refers to A. moving jobs to South America in accession to China. B. moving skilled service jobs such as those in account statement offshore. C. moving jobs to India in addition to China. D. moving manufacturing 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. sophisticated 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 guilty of A. ethnic plagiarism. B. ethnocentricity. C. culture shock. D. counter culture.31. aft(prenominal) developing a code of ethics, it should be communicated to A. everyone with whom the business has dealings. B. the Attorney cosmopolitan in jurisdictions where the business has operations. C. all levels of management. D. stockholders.32. Management and employees at Boyer Enterprises are given time o ff each 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 last semester. When you tell her that it wouldnt be fair, she reminds you of your habit of adaptation an entire Harry Potter book at the local bookstall without paying for the book. Which ethics-based question would be the most helpful in evaluating these situations? A. Is it sub judice? B. Am I acting 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 clean up. B. businesses have a responsibility to diminish their environmental pollution. C. everyone enjoys a cleaner environment regardless of who pays for it. D. society places a higher value on private goods and services.35. The first misuse when go about an ethical dilemma is to ask A. Is it legal? 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 dilute the ethics of their international partners. B. expect socially responsible behavior 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 bear out B. training C. enforcement D. identification of the organizational ethics officer38. The danger in piece new laws to correct behavior is that A. people may begin to speak out that any behavior that is within the law is acceptable. B. people will see the difference between ethics and legality. C. legal behavior will fall the totality of peoples prop er relations with one another. D. there will not be enough jails to house those who break the law.39. Critics of corporate social responsibility view spending money on CSR as A. a necessity evil. B. stealing from investors. C. important for America. D. moving toward capitalism.40. Obeying the law is ________ ethical behavior. A. essentially the kindred 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 turn back that how she made this burger was regulated by the A. Federal Trade Commission. B. Food and dose Administration. C. Federal Nutritional Association. D. State Board of Food Examiners.42. One of the reasons you bought your mommy a name-brand mixer for Mothers 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 labour is covered by the mixer manufacturer.43. One result of deregulation in the airline industry has been A. less intense competition. B. increase aviation cerebrate fatalities. C. higher prices for consumers. D. lower prices for consumers.44. You agree to sell your car to your dwell 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. bankruptcy. 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 copyright C. the Uniform Commercial Code D. a patent48. The Griggs v. Duke Power Company (1971) case e stablished 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 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. impulsive bankruptcy C. involuntary bankruptcy D. creditor restructuringBUS100 Sample Exam 1 secernate 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