Question 1

Which country has the highest GDP per capita?

Accepted Answer

A)  United States 
B)  Singapore 
C)  Luxembourg 
D)  Canada 
E)  Japan 
A)  United States 
B)  Singapore 
C)  Luxembourg 
D)  Canada 
E)  Japan

Question 2

Canada's per capita GDP is less than that of several countries,including the U.S.,Luxembourg,Norway,Switzerland,and Denmark.

Accepted Answer

A) True 
 B)False

Question 3

In an acquisition,one firm simply buys another firm,whereas in a merger the consolidation is more collaborative.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

The main measure of

Question 5

The national debt refers to

Accepted Answer

A)  the total amount of money that Canada owes to its creditors. 
B)  the ratio of Canada's exports to its imports. 
C)  the result of government spending more in a year than the value of GDP. 
D)  the excess amount of taxes over what the government spends in one year. 
E)  the amount of taxes the government collects in one year. 
A)  the total amount of money that Canada owes to its creditors. 
B)  the ratio of Canada's exports to its imports. 
C)  the result of government spending more in a year than the value of GDP. 
D)  the excess amount of taxes over what the government spends in one year. 
E)  the amount of taxes the government collects in one year.

Question 6

Ted has not worked in 5 years and has given up finding a job.He is counted in the ranks of the unemployed.

Accepted Answer

A) True 
 B)False

Question 7

List and discuss the 4 different types of unemployment,using examples to demonstrate the different types.

Accepted Answer

frictional unemployment,season

Question 8

Which of the following best defines the term aggregate output?

Accepted Answer

A)  The total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system 
B)  The measure of economic growth that compares how much a system produces with the resources needed to produce it 
C)  The pattern of short-term ups and downs in an economy 
D)  The total quantity of goods and services produced by an economic system during a given period 
E)  The conditions of the economic system in which an organization operates 
A)  The total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system 
B)  The measure of economic growth that compares how much a system produces with the resources needed to produce it 
C)  The pattern of short-term ups and downs in an economy 
D)  The total quantity of goods and services produced by an economic system during a given period 
E)  The conditions of the economic system in which an organization operates

Question 9

The political-legal environment describes

Accepted Answer

A)  the relationship between business and government. 
B)  the customs,values,attitudes,and demographic characteristics of the society in which an organization functions. 
C)  the intensity of the competition in an industry. 
D)  the relationship between international and domestic corporations. 
E)  the relationship between government and unions. 
A)  the relationship between business and government. 
B)  the customs,values,attitudes,and demographic characteristics of the society in which an organization functions. 
C)  the intensity of the competition in an industry. 
D)  the relationship between international and domestic corporations. 
E)  the relationship between government and unions.

Question 10

Low inflation will allow a company like McDonald's to increase the prices it charges consumers.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is correct with respect to R&D?

Accepted Answer

A)  R&D focuses on physical products,not services. 
B)  Pure,or basic,R&D involves focusing specifically on how a technological innovation can be put to use to make products that can be sold in the marketplace. 
C)  Applied R&D involves improving knowledge in an area without regard to how it might be useful in the marketplace. 
D)  R&D intensity refers to R&D spending as a percentage of a company's sales revenues. 
E)  All of these statements are correct. 
A)  R&D focuses on physical products,not services. 
B)  Pure,or basic,R&D involves focusing specifically on how a technological innovation can be put to use to make products that can be sold in the marketplace. 
C)  Applied R&D involves improving knowledge in an area without regard to how it might be useful in the marketplace. 
D)  R&D intensity refers to R&D spending as a percentage of a company's sales revenues. 
E)  All of these statements are correct.

Question 12

Purchasing power parity gives us a good idea of

Accepted Answer

A)  what people are buying outside their own country while on vacation or while doing international business. 
B)  what people can actually buy with the financial resources allocated to them by their economic system. 
C)  what people would like to buy with the financial resources in their economic system. 
D)  purchasing trends across the globe. 
E)  average annual income. 
A)  what people are buying outside their own country while on vacation or while doing international business. 
B)  what people can actually buy with the financial resources allocated to them by their economic system. 
C)  what people would like to buy with the financial resources in their economic system. 
D)  purchasing trends across the globe. 
E)  average annual income.

Question 13

Which of the following is the best definition of vertical merger?

Accepted Answer

A)  A strategy in which one of the companies in the merger is a supplier or customer of the other 
B)  An approach by which firms move away from department-oriented organization and toward process-oriented team structures that cut across old departmental boundaries 
C)  The strategy of using the internet and word-of-mouth marketing to spread product information 
D)  Any activity that adds value to some input by transforming it into an output for an internal or external customer 
E)  The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials and resources 
A)  A strategy in which one of the companies in the merger is a supplier or customer of the other 
B)  An approach by which firms move away from department-oriented organization and toward process-oriented team structures that cut across old departmental boundaries 
C)  The strategy of using the internet and word-of-mouth marketing to spread product information 
D)  Any activity that adds value to some input by transforming it into an output for an internal or external customer 
E)  The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials and resources

Question 14

Agricultural efficiency in Canada has shown only slight improvement in the last century because only a small percentage of the population works in agriculture.

Accepted Answer

A) True 
 B)False

Question 15

Sam,an audiologist,lost his job two years ago and still hasn't found work because 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 16

The standard of living in a country improves mainly through increases in the money supply.

Accepted Answer

A) True 
 B)False

Question 17

What is a vertical merger? Provide an example.

Accepted Answer

A vertical merger occurs when there is a

Question 18

Which two nations are the most productive in the world?

Accepted Answer

A)  United States and Canada 
B)  Luxembourg and Norway 
C)  Singapore and Iceland 
D)  Japan and China 
E)  China and Canada 
A)  United States and Canada 
B)  Luxembourg and Norway 
C)  Singapore and Iceland 
D)  Japan and China 
E)  China and Canada

Question 19

A computer programmer who has just quit her job,but who will find a new one soon,is an example of ________ unemployment.

Accepted Answer

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

Question 20

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil.These profits are included in ____ in Brazil.

Accepted Answer

A)  GDP 
B)  national employment 
C)  productivity 
D)  GNP 
E)  GPI 
A)  GDP 
B)  national employment 
C)  productivity 
D)  GNP 
E)  GPI

Which country has the highest GDP per capita?

Canada's per capita GDP is less than that of several countries,including the U.S.,Luxembourg,Norway,Switzerland,and Denmark.

In an acquisition,one firm simply buys another firm,whereas in a merger the consolidation is more collaborative.

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

The national debt refers to

Ted has not worked in 5 years and has given up finding a job.He is counted in the ranks of the unemployed.

List and discuss the 4 different types of unemployment,using examples to demonstrate the different types.

Which of the following best defines the term aggregate output?

The political-legal environment describes

Low inflation will allow a company like McDonald's to increase the prices it charges consumers.

Which of the following is correct with respect to R&D?

Purchasing power parity gives us a good idea of

Which of the following is the best definition of vertical merger?

Agricultural efficiency in Canada has shown only slight improvement in the last century because only a small percentage of the population works in agriculture.

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

The standard of living in a country improves mainly through increases in the money supply.

What is a vertical merger? Provide an example.

Which two nations are the most productive in the world?

A computer programmer who has just quit her job,but who will find a new one soon,is an example of ________ unemployment.

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil.These profits are included in ____ in Brazil.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters

Exam 2: Understanding the Environments of Business

Which country has the highest GDP per capita?

Canada's per capita GDP is less than that of several countries,including the U.S.,Luxembourg,Norway,Switzerland,and Denmark.

In an acquisition,one firm simply buys another firm,whereas in a merger the consolidation is more collaborative.

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

The national debt refers to

Ted has not worked in 5 years and has given up finding a job.He is counted in the ranks of the unemployed.

List and discuss the 4 different types of unemployment,using examples to demonstrate the different types.

Which of the following best defines the term aggregate output?

The political-legal environment describes

Low inflation will allow a company like McDonald's to increase the prices it charges consumers.

Which of the following is correct with respect to R&D?

Purchasing power parity gives us a good idea of

Which of the following is the best definition of vertical merger?

Agricultural efficiency in Canada has shown only slight improvement in the last century because only a small percentage of the population works in agriculture.

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

The standard of living in a country improves mainly through increases in the money supply.

What is a vertical merger? Provide an example.

Which two nations are the most productive in the world?

A computer programmer who has just quit her job,but who will find a new one soon,is an example of ________ unemployment.

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil.These profits are included in ____ in Brazil.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters