Question 1

What is the national debt?

Accepted Answer

The national debt is the amoun

Question 2

A hostile takeover occurs when one organization buys enough of the shares of another company to take control of the company even though that company may be opposed to the takeover.

Accepted Answer

A) True 
 B)False

Question 3

The major cigarette companies have been experiencing a decline in sales due to the overall decrease in smoking across Canada in recent years. These companies are being affected by which dimension of their external environment?

Accepted Answer

A)  Technological 
B)  Global 
C)  Business 
D)  Socio-cultural 
E)  Economic 
A)  Technological 
B)  Global 
C)  Business 
D)  Socio-cultural 
E)  Economic

Question 4

If Shirley's Subs Inc. purchased Tony's Car Repair Inc., this would be ________.

Accepted Answer

A)  a horizontal merger 
B)  a conglomerate merger 
C)  a spinoff 
D)  a vertical merger 
E)  a divestiture 
A)  a horizontal merger 
B)  a conglomerate merger 
C)  a spinoff 
D)  a vertical merger 
E)  a divestiture

Question 5

How is the effectiveness of the government's attempts to manage Canada's economy measured? Briefly explain each tool.

Accepted Answer

- GDP: value of all goods and services p

Question 6

Which of the following best describes the breadth of socio-cultural environment factors?

Accepted Answer

A)  Customs, attitudes, and values 
B)  Demographic characteristics, customs, and values 
C)  Values, attitudes, customs, and demographic characteristics 
D)  Customs, values, religious beliefs, and consumer wealth 
E)  Values, religious beliefs, and consumer wealth 
A)  Customs, attitudes, and values 
B)  Demographic characteristics, customs, and values 
C)  Values, attitudes, customs, and demographic characteristics 
D)  Customs, values, religious beliefs, and consumer wealth 
E)  Values, religious beliefs, and consumer wealth

Question 7

________ policy involves the collection and spending of government revenues, while ________ policy focuses on controlling the size of the nation's money supply.

Accepted Answer

A)  Productivity; inflation 
B)  Taxation; monetary 
C)  Monetary; fiscal 
D)  Fiscal; monetary 
E)  National debt; annual deficit 
A)  Productivity; inflation 
B)  Taxation; monetary 
C)  Monetary; fiscal 
D)  Fiscal; monetary 
E)  National debt; annual deficit

Question 8

If we know that it takes, on average, one Canadian worker and one Canadian dollar to make 10 soccer balls in an 8 hour work day, we can measure Canada's

Accepted Answer

A)  balance of trade. 
B)  GDP. 
C)  productivity. 
D)  GNP. 
E)  GNP and productivity. 
A)  balance of trade. 
B)  GDP. 
C)  productivity. 
D)  GNP. 
E)  GNP and productivity.

Question 9

What is reflected in real GDP?

Accepted Answer

Real GDP is calculat

Question 10

What is the main measure of growth in the business cycle?

Accepted Answer

The main measure of

Question 11

________ is GDP measured in current dollars with all components valued at current prices.

Accepted Answer

A)  Per capita GDP 
B)  Net GDP 
C)  Adjusted GDP 
D)  Nominal GDP 
E)  Real GDP 
A)  Per capita GDP 
B)  Net GDP 
C)  Adjusted GDP 
D)  Nominal GDP 
E)  Real GDP

Question 12

Sam, an audiologist, lost his job two years ago and still hasn't found work. There is just no market for audiologists at this time. Sam is experiencing

Accepted Answer

A)  structural unemployment. 
B)  full unemployment. 
C)  cyclical unemployment. 
D)  bad luck. 
E)  frictional unemployment. 
A)  structural unemployment. 
B)  full unemployment. 
C)  cyclical unemployment. 
D)  bad luck. 
E)  frictional unemployment.

Question 13

List and discuss the four different types of unemployment, using examples to demonstrate the different types.

Accepted Answer

(1) Frictional unemployment (people are

Question 14

What are three factors that threaten stability?

Accepted Answer

A)  Purchasing power parity, productivity, and inflation 
B)  Productivity, inflation, and deflation 
C)  Purchasing power parity, inflation, and deflation 
D)  Inflation, deflation, and unemployment 
E)  Productivity, unemployment, and inflation 
A)  Purchasing power parity, productivity, and inflation 
B)  Productivity, inflation, and deflation 
C)  Purchasing power parity, inflation, and deflation 
D)  Inflation, deflation, and unemployment 
E)  Productivity, unemployment, and inflation

Question 15

Which of the following statements about inflation is true?

Accepted Answer

A)  Inflation increases the purchasing power of consumer dollars. 
B)  Inflation occurs when people have more money to spend as the quantity of goods available increases. 
C)  Inflation occurs when the amount of money taken out of the economy exceeds the amount of money put into the economy. 
D)  Inflation and deflation are really almost synonymous in practice. 
E)  None of these. 
A)  Inflation increases the purchasing power of consumer dollars. 
B)  Inflation occurs when people have more money to spend as the quantity of goods available increases. 
C)  Inflation occurs when the amount of money taken out of the economy exceeds the amount of money put into the economy. 
D)  Inflation and deflation are really almost synonymous in practice. 
E)  None of these.

Question 16

If, in the long run, international trade improves the standard of living in participating countries, why might some countries want to place trade barriers, such as tariffs, on imported products?

Accepted Answer

A)  Imported products compete with domestic products and thus put pressure on local business. 
B)  Imported products are usually not as good quality as domestically made products. 
C)  Generating government revenue is often more economically valuable than free trade. 
D)  This is necessary to keep a country's currency strong. 
E)  International trade tends to lead to political tension. 
A)  Imported products compete with domestic products and thus put pressure on local business. 
B)  Imported products are usually not as good quality as domestically made products. 
C)  Generating government revenue is often more economically valuable than free trade. 
D)  This is necessary to keep a country's currency strong. 
E)  International trade tends to lead to political tension.

Question 17

Which of the following is correct regarding unemployment rates in Canada?

Accepted Answer

A)  Unemployment rates have been fairly stable at about 6 percent for the last 30 years. 
B)  Unemployment rates have been fairly stable at about 2 percent for the last 30 years. 
C)  Unemployment rates for women have generally been slightly lower than unemployment rates for men. 
D)  The government did not keep track of unemployment rates for women until the 1980s. 
E)  The unemployment rate for women is about half the unemployment rate for men. 
A)  Unemployment rates have been fairly stable at about 6 percent for the last 30 years. 
B)  Unemployment rates have been fairly stable at about 2 percent for the last 30 years. 
C)  Unemployment rates for women have generally been slightly lower than unemployment rates for men. 
D)  The government did not keep track of unemployment rates for women until the 1980s. 
E)  The unemployment rate for women is about half the unemployment rate for men.

Question 18

What is outsourcing? Give an example of outsourcing.

Accepted Answer

Outsourcing is the strategy of paying su

Question 19

How is a vertical merger different than a horizontal merger?

Accepted Answer

A vertical merger occurs when one of the

Question 20

How does cyclical unemployment differ from frictional unemployment?

Accepted Answer

Cyclical unemployment results from a dow

What is the national debt?

A hostile takeover occurs when one organization buys enough of the shares of another company to take control of the company even though that company may be opposed to the takeover.

The major cigarette companies have been experiencing a decline in sales due to the overall decrease in smoking across Canada in recent years. These companies are being affected by which dimension of their external environment?

If Shirley's Subs Inc. purchased Tony's Car Repair Inc., this would be ________.

How is the effectiveness of the government's attempts to manage Canada's economy measured? Briefly explain each tool.

Which of the following best describes the breadth of socio-cultural environment factors?

policy involves the collection and spending of government revenues, while policy focuses on controlling the size of the nation's money supply.

If we know that it takes, on average, one Canadian worker and one Canadian dollar to make 10 soccer balls in an 8 hour work day, we can measure Canada's

What is reflected in real GDP?

What is the main measure of growth in the business cycle?

________ is GDP measured in current dollars with all components valued at current prices.

Sam, an audiologist, lost his job two years ago and still hasn't found work. There is just no market for audiologists at this time. Sam is experiencing

List and discuss the four different types of unemployment, using examples to demonstrate the different types.

What are three factors that threaten stability?

Which of the following statements about inflation is true?

If, in the long run, international trade improves the standard of living in participating countries, why might some countries want to place trade barriers, such as tariffs, on imported products?

Which of the following is correct regarding unemployment rates in Canada?

What is outsourcing? Give an example of outsourcing.

How is a vertical merger different than a horizontal merger?

How does cyclical unemployment differ from frictional unemployment?

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

What is the national debt?

A hostile takeover occurs when one organization buys enough of the shares of another company to take control of the company even though that company may be opposed to the takeover.

The major cigarette companies have been experiencing a decline in sales due to the overall decrease in smoking across Canada in recent years. These companies are being affected by which dimension of their external environment?

If Shirley's Subs Inc. purchased Tony's Car Repair Inc., this would be ________.

How is the effectiveness of the government's attempts to manage Canada's economy measured? Briefly explain each tool.

Which of the following best describes the breadth of socio-cultural environment factors?

________ policy involves the collection and spending of government revenues, while ________ policy focuses on controlling the size of the nation's money supply.

If we know that it takes, on average, one Canadian worker and one Canadian dollar to make 10 soccer balls in an 8 hour work day, we can measure Canada's

What is reflected in real GDP?

What is the main measure of growth in the business cycle?

________ is GDP measured in current dollars with all components valued at current prices.

Sam, an audiologist, lost his job two years ago and still hasn't found work. There is just no market for audiologists at this time. Sam is experiencing

List and discuss the four different types of unemployment, using examples to demonstrate the different types.

What are three factors that threaten stability?

Which of the following statements about inflation is true?

If, in the long run, international trade improves the standard of living in participating countries, why might some countries want to place trade barriers, such as tariffs, on imported products?

Which of the following is correct regarding unemployment rates in Canada?

What is outsourcing? Give an example of outsourcing.

How is a vertical merger different than a horizontal merger?

How does cyclical unemployment differ from frictional unemployment?

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

policy involves the collection and spending of government revenues, while policy focuses on controlling the size of the nation's money supply.