Question 1

With respect to inflation and deflation, which is correct?

Accepted Answer

A)  Inflation is caused when consumers buy too many luxury goods. 
B)  When inflation occurs, people have more money to spend, and there will be an increased quantity of goods for sale. 
C)  When inflation occurs, purchasing power decreases. 
D)  Deflation is evident when the amount of money injected into the economic system increases faster than actual output. 
E)  All of these statements are correct. 
A)  Inflation is caused when consumers buy too many luxury goods. 
B)  When inflation occurs, people have more money to spend, and there will be an increased quantity of goods for sale. 
C)  When inflation occurs, purchasing power decreases. 
D)  Deflation is evident when the amount of money injected into the economic system increases faster than actual output. 
E)  All of these statements are correct.

Question 2

________ is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or resources.

Accepted Answer

A)  Enterprise management 
B)  Outsourcing 
C)  Alliance 
D)  Disruption 
E)  Core competency 
A)  Enterprise management 
B)  Outsourcing 
C)  Alliance 
D)  Disruption 
E)  Core competency

Question 3

The business cycle consists of four phases: peak, recession, trough, and recovery.

Accepted Answer

A) True 
 B)False

Question 4

The "basket of goods" included in the Consumer Price Index has remained the same over the years so the government can make accurate year-to-year comparisons about the rate of inflation.

Accepted Answer

A) True 
 B)False

Question 5

New Vermont underwent a recession two years ago. How might New Vermont's aggregate output have been affected?

Accepted Answer

A recession is defined as a pe

Question 6

Ben is unemployed, but he is currently in a training program designed to increase the skills he needs to perform the kinds of jobs that are available. Ben is experiencing ________ unemployment.

Accepted Answer

A)  frictional 
B)  seasonal 
C)  cyclical 
D)  structural 
E)  none of these 
A)  frictional 
B)  seasonal 
C)  cyclical 
D)  structural 
E)  none of these

Question 7

List the five dimensions of the external environment of business organizations.

Accepted Answer

The five dimensions are econom

Question 8

If Taiwan has a positive balance of trade, this means that

Accepted Answer

A)  money is flowing into the country to pay for imported goods. 
B)  the total amount of exported goods has increased from the previous year. 
C)  the total amount of imported goods has decreased from the previous year. 
D)  the nation is exporting more than it imports from other nations. 
E)  all of these are correct. 
A)  money is flowing into the country to pay for imported goods. 
B)  the total amount of exported goods has increased from the previous year. 
C)  the total amount of imported goods has decreased from the previous year. 
D)  the nation is exporting more than it imports from other nations. 
E)  all of these are correct.

Question 9

At one time, about ________ of the population of Canada was involved in producing the food that we needed; today less than ________ percent of the population works in agriculture.

Accepted Answer

A)  half; 0.5 
B)  half; 2.5 
C)  one-third; 5 
D)  three-quarters; 2.5 
E)  four-fifths; 3 
A)  half; 0.5 
B)  half; 2.5 
C)  one-third; 5 
D)  three-quarters; 2.5 
E)  four-fifths; 3

Question 10

Which of the following would be included in the GNP of Canada?

Accepted Answer

A)  A Canadian company produces and sells products in Brazil. 
B)  A Brazilian company produces and sells products in Canada. 
C)  A U.S. company produces and sells products in Canada. 
D)  A Canadian company produces and sells products in Canada. 
E)  It is not possible to tell given the information that is provided 
A)  A Canadian company produces and sells products in Brazil. 
B)  A Brazilian company produces and sells products in Canada. 
C)  A U.S. company produces and sells products in Canada. 
D)  A Canadian company produces and sells products in Canada. 
E)  It is not possible to tell given the information that is provided

Question 11

What is a vertical merger? Provide an example.

Accepted Answer

A vertical merger occurs when there is a

Question 12

When Molson and Adolph Coors merged, this was an example of a horizontal merger.

Accepted Answer

A) True 
 B)False

Question 13

A poison pill is generally used in hostile takeovers to ensure that outsiders can't get any shares of stock.

Accepted Answer

A) True 
 B)False

Question 14

GDP includes the total value of goods and services produced within a given period by a national economy through domestic factors of production.

Accepted Answer

A) True 
 B)False

Question 15

Purchasing power parity is a principle that states exchange rates are set so that the prices of similar products in different countries are about the same.

Accepted Answer

A) True 
 B)False

With respect to inflation and deflation, which is correct?

________ is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or resources.

The business cycle consists of four phases: peak, recession, trough, and recovery.

The "basket of goods" included in the Consumer Price Index has remained the same over the years so the government can make accurate year-to-year comparisons about the rate of inflation.

New Vermont underwent a recession two years ago. How might New Vermont's aggregate output have been affected?

Ben is unemployed, but he is currently in a training program designed to increase the skills he needs to perform the kinds of jobs that are available. Ben is experiencing ________ unemployment.

List the five dimensions of the external environment of business organizations.

If Taiwan has a positive balance of trade, this means that

At one time, about of the population of Canada was involved in producing the food that we needed; today less than percent of the population works in agriculture.

Which of the following would be included in the GNP of Canada?

What is a vertical merger? Provide an example.

When Molson and Adolph Coors merged, this was an example of a horizontal merger.

A poison pill is generally used in hostile takeovers to ensure that outsiders can't get any shares of stock.

GDP includes the total value of goods and services produced within a given period by a national economy through domestic factors of production.

Purchasing power parity is a principle that states exchange rates are set so that the prices of similar products in different countries are about the same.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters

Exam 2: The Environment of Business

With respect to inflation and deflation, which is correct?

________ is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or resources.

The business cycle consists of four phases: peak, recession, trough, and recovery.

The "basket of goods" included in the Consumer Price Index has remained the same over the years so the government can make accurate year-to-year comparisons about the rate of inflation.

New Vermont underwent a recession two years ago. How might New Vermont's aggregate output have been affected?

Ben is unemployed, but he is currently in a training program designed to increase the skills he needs to perform the kinds of jobs that are available. Ben is experiencing ________ unemployment.

List the five dimensions of the external environment of business organizations.

If Taiwan has a positive balance of trade, this means that

At one time, about ________ of the population of Canada was involved in producing the food that we needed; today less than ________ percent of the population works in agriculture.

Which of the following would be included in the GNP of Canada?

What is a vertical merger? Provide an example.

When Molson and Adolph Coors merged, this was an example of a horizontal merger.

A poison pill is generally used in hostile takeovers to ensure that outsiders can't get any shares of stock.

GDP includes the total value of goods and services produced within a given period by a national economy through domestic factors of production.

Purchasing power parity is a principle that states exchange rates are set so that the prices of similar products in different countries are about the same.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters

At one time, about of the population of Canada was involved in producing the food that we needed; today less than percent of the population works in agriculture.