Question 1. award: 2 out of 2.00 points MC Qu. 3 Which of the following circumstances is mos…

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MC Qu. 3 Which of the following circumstances is mos…

Which of the following circumstances is most likely to reduce one’s standard of living?

A decrease in the cost of some goods such as a decrease in housing prices.

Stable prices and an increase in employee wages.

An increase in the cost of some goods such as escalating gasoline prices.

Losing your job, but gaining a sizeable inheritance.

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MC Qu. 14 Since the mid-1980s, the __________ sector has …

Since the mid-1980s, the __________ sector has generated the most amount of increases in employment in the United States.

goods producing

agricultural

manufacturing

service

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MC Qu. 1 When referring to risk, which …

When referring to risk, which of the following statements is reasonable?

Although risk means taking a chance at losing, the less risk you take, the more you are likely to profit.

Good business strategy encourages less risk, because the least risky ventures usually make more profit.

Sizeable risks can lead to substantial profits, if the business takes calculated risks and captures good opportunities.

Although risk means taking a chance, a start-up will usually manage to get off the ground faster if the stakes are high.

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MC Qu. 15 Today, high-paying service-sector jobs in the U.S. …

Today, high-paying service-sector jobs in the U.S. can be found in ___________________.

machine tools production

entertainment

farming

the automobile industry

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MC Qu. 13 In the technological business environment the …

In the technological business environment the opportunity would be the internet, the challenge would be_______, whereas in the global business environment the opportunity would be ______ and the challenge would be war and terrorism.

rev: 09_10_2012

E-Commerce theft and increase in standard of living

Leisure time and databases

Identity theft and green living

Decrease in social security contributions and the Freedom to choose and start your own business.

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MC Qu. 1 The way in which a country’s resource…

The way in which a country’s resources are utilized to produce goods and services; and, the way those goods and services are distributed among those who desire to have them depends upon ______________.

The number of documented economically disadvantaged persons in the nation

The economic system under which the country operates

The availability of tangible versus intangible resources

The stage of development of those resources

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MC Qu. 11 The U.S. unemployment rate is an important, key economic indicator…

The U.S. unemployment rate is an important, key economic indicator because most of us need jobs to maintain our standard of living. A criteria used to calculate the unemployment rate is:

all persons claiming not to have a job, except students. Full-time and part-time students are excluded from the calculation.

persons who were dismissed from their last job, and, subsequently have been out of work for over a year.

anyone under the age of 60, who does not have a job and lives within the physical borders of the U.S.

unemployed persons age 16 and over, who have been looking for work during the past four weeks.

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MC Qu. 14 A few years ago, the American Society of Civil Engineers published…

A few years ago, the American Society of Civil Engineers published a report card for America’s interstates. It was reported that road repairs cost the American taxpayers $67 billion per year. Through the enactment of ___________ the U.S. government collects tax dollars and then spends some of these funds to maintain the infrastructure of the nation. Increasing taxes has the effect of drawing money away from the private sector.

deficit policy

fiscal policy

congressional policy

monetary policy

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MC Qu. 10 The following chart reflects the U.S.’s GDP [Gross Domestic Product] for the past five years.

The following chart reflects the U.S.’s GDP [Gross Domestic Product] for the past five years. Which of the following statements best reflects the health of the U.S. economy during this time period?

2005 $12.62 trillion

2006 $12.96 trillion

2007 $13.21 trillion

2008 $13.16 trillion

2009 $12.70 trillion

2010 $13.09 trillion

The U.S. economy fell into recession in 2008 and 2009.

Although the GDP decreased in 2008 and 2009, the decline was not enough for businesses and consumer to feel negative effects.

The U.S. economy was experiencing recovery in 2007 and 2008.

The U.S. economy experienced a robust economy, particularly during the first three years.

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MC Qu. 13 At Six City Wellness Center, Greg operates a new state-of-the-art MRI scanner that serves…

At Six City Wellness Center, Greg operates a new state-of-the-art MRI scanner that serves approximately 10 patients during his 8-hr. shift. Patients are scheduled for various lengths of time, depending on which part(s) of their body requires scanning. The image quality is significantly superior to what it was on previous scanners, but the number of patients served per day remains the same. This situation attests to the fact that:

the service sector has seen improvement in quality of service, but productivity remains about the same.

productivity is increased because it is calculated by combining quantity produced + quality produced.

technological advancements have increased productivity in the service sector.

hospitals and health clinics are part of the service sector. Productivity is not a concern in this sector.

Multiple ChoiceMC Qu. 13 At Six City Wellness Center, Greg operates a new state-of-the-art MRI scanner that serves…

11.

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MC Qu. 8 According to Geert Hofstede, who has spent a lifetime…

According to Geert Hofstede, who has spent a lifetime studying differences in cultures, the Chinese have a long-term orientation, meaning they are patient savers and are willing to forgo things today, for a better future. Americans typically have a short-term orientation. They prefer more instant gratification and are not as willing to save for the future. This difference in values between the Chinese and Americans is a _____________ attribute that may represent a challenge in future global trade.

sociocultural

legal and regulatory

physical

economic

12.

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MC Qu. 3 As a strategy for reaching global markets, licensing…

As a strategy for reaching global markets, licensing provides the licensor with several advantages. One advantage is _____________.

the cost of producing and marketing the product in a foreign market is significantly reduced

there are very few contractual agreements between the two parties, so the licensee is free to sell proprietary technologies originally owned by the licensor at its discretion

licensing helps avoid patent infringement

once the licensing agreement is signed, the licensor has no obligation to customers for the quality of the product they receive

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MC Qu. 5 Even though the nation faces political instability, the island of…

Even though the nation faces political instability, the island of Frollik with its wide, expansive beaches is a destination hub for cruise lines. Recently, a large theme park business showed strong interest in buying land in Frollik, including beach front property, with the intent of building an entertainment park targeted toward families. The theme park company wants to make a commitment to Frollik, including the hiring of several hundred local employees. The global marketing strategy referred to in this scenario is ____________.

strategic alliance

licensing agreement

joint venture

foreign direct investment

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MC Qu. 1 The Republic of South Africa exports edible fruits and…

The Republic of South Africa exports edible fruits and nuts into the common market known as the European Union, and imports from the European Union other products which South Africa could produce but at a higher cost than what it costs the Europeans to produce. This practice follows the premise of _________________.

The Theory of Competitive Advantage

The Theory of Malthus

The Theory of Comparative Advantage

The Theory of Absolute Advantage

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MC Qu. 6 The strategic alliance between Coca Cola and Nestle has…

The strategic alliance between Coca Cola and Nestle has spanned a period of over 20 years due to the fact that both companies benefit from this arrangement. As a global marketing strategy, an important characteristic of a strategic alliance is _____________.

participant companies do not share costs or profits

separation of company policies, procedures, and production, but unified financial accountability

the complete immersion of employees assigned to the alliance, eventually forming a separate company

it must be a long-term venture of 10 or more years

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MC Qu. 5 The first day on the job waiting tables at a popular…

The first day on the job waiting tables at a popular restaurant, Ashley noticed that when one member of the wait staff was serving a very large party, the other waiters would help with carrying food to the table(s) and even checking to make sure water glasses were filled and condiments were on the table. Although these actions were not part of the mandatory wait staff training, Ashley perceived that those who were not as attentive to helping out were not viewed as team players by the majority of employees. Ashley was observing an example of the ___________ followed at this organization.

social order ethics

actual ethics

compliance-based ethics

integrity-based ethics

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MC Qu. 7 Proponents of corporate social responsibility strongly…

Proponents of corporate social responsibility strongly believe in benevolence; however, they still want their businesses to be profitable. In the long run, they believe ______________.

CSR can lead to even more profits

the fastest way to demoralize your stakeholders is to throw too much money toward social programs, and less in the pockets of employees

benevolence can lead to a vote of no confidence by company stakeholders

firms should take added caution so as to develop a bias for government socialist type programs such as welfare

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MC Qu. 9 The last recession changed the way many companies…

The last recession changed the way many companies give. Monetary donations _______________. Many firms chose to ______________.

increased; pull away from global contributions, but double the contributions in their domestic areas of operation

increased; give more money because they understood how badly society needed a helping hand

decreased; eliminate all contributions in every way

decreased; encourage their employees to volunteer their time

19.

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MC Qu. 11 A few months ago, Pedro%u2019s Pizza House, …

A few months ago, Pedro’s Pizza House, a large nationwide chain of restaurants, purchased one of its competitors, Italian Stallion Pizza Stations, for $800 million. Italian Stallion stockholders got a very fair deal for their stock: $6.50/share above market value. The event was not without its problems. An ethical issue arose when it was speculated that somehow a member of Pedro’s management team mentioned the deal to a person he sat next to on a flight from LA to Seattle. That person called five of his relatives. Three of them quickly bought shares of Italian Stallion and “got on record” before the acquisition. The ethical dilemma that occurred is called _________.

moral impropriety

pro-current procurement

acquisition stalking

insider trading

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