BUS 101

100問 • 1年前

問題一覧

In the context of the history of American business, the industrial revolution era encouraged workers to take individual ownership and personal pride in the production process.

False

Demographic factors include the milestones achieved during the developments in the field of computers, telecommunications, and other digital products.

False

Online technology prevents leading-edge companies from offering customized products at prices that are comparable to standardized products.

False

The central banking system of the United States is the Federal Reserve.

True

During the production era, managers focused mostly on customer satisfaction and not on production efficiency.

False

People can create natural resources by growing and harvesting agricultural products.

False

In the context of the competitive environment of business, unlike leading-edge firms, bleeding-edge firms offer products just as the market becomes ready to embrace them.

False

In the context of the competitive environment of business, a product has value when its benefits to the customer are lesser than the price that the customer pays.

False

Which of the following statements is true of profit in a business?

It is the financial reward that comes from starting and running a business.

Menoth, a recreational resort for the elderly, saw a sharp increase in its customers in the last decade compared to the period between 1996 and 2006. This was because 65% of working individuals retired in the last decade. Identify the dimension of the social environment that this scenario exemplifies.

Aging population

In the context of factors of production, which of the following statements is true of capital?

It does not include money.

In the context of the workforce advantage in the business environment, as the baby boom generation begins to retire, which of the following will likely become a crucial competitive issue in the next decade?

Finding and holding the best talent

Lint Port, an apparel company, offers personalized customer service in all its stores and engages in post-purchase communication to take feedback from its customers. It also gives gift vouchers with customized messages to its customers on their birthdays. The company values the importance of building long-term customer relationships. In this context, which dimension of the business environment is affected the most?

The competitive environment

In the context of the history of American business, during the entrepreneurship era, _____.

many industrial titans forced out their competitors

Which of the following is an example of a nonprofit organization?

Hollorg, a community museum that is funded by a trust and is free for public use

Gormath Inc., a shoe manufacturing company, employs 750 workers to create handcrafted shoes. In the context of factors of production, the employees of Gormath Inc. can be classified as _____.

human resources

Melina and Carl want to start an event management company that would provide local artists with a platform to showcase their talent and gain an audience. Melina and Carl are willing to invest their own resources in this project. In the context of factors of production, the given scenario exemplifies the concept of _____.

entrepreneurship

Which of the following statements is true of the economic environment of a business?

It is affected by corruption.

Western Transit Bank has 150 automated teller machines (ATMs) across the country. Customers can use these machines to withdraw money, deposit money in their bank accounts, check their account balance, and transfer money to other accounts. These machines enable Western Transit Bank to carry out some of its operations smoothly. In the given scenario, the ATMs of Western Transit Bank can be classified as _____.

capital

Which of the following is a characteristic of entrepreneurs?

They risk their time, money, and other resources to start and manage their business.

Operth, an automobile company, hires people from various cultural and social backgrounds. This allows the company to enjoy a competitive advantage by developing innovative products that serve a wide customer base. Which of the following dimensions of the social environment does this scenario exemplify?

Diversity

Chargon Flasks, a restaurant specializing in Asian cuisine, focuses solely on customer satisfaction. It allows patrons to customize the quantity of their meals and only charges them half the price if their meal is unsatisfactory. The restaurant also has a voluntary service charge policy. In this context, which dimension of the business environment is affected the most?

The competitive environment

Reserve requirement is a rule of the Fed which requires that all of its member banks hold funds which are more than the stated percentage of the deposits held by their customers.

False

In the context of monetary policy, when the economy contracts, the Fed typically decreases the money supply.

False

Gross Domestic Product (GDP) measures the total value of all the imports and exports of a nation on a quarterly basis.

False

The consumer market basket of goods and services, in which the consumer price index (CPI) measures the change in weighted-average price over time, is created by the U.S. Bureau of Labor Statistics.

True

The gross domestic product (GDP) includes output produced within households.

False

Social security taxes are a source of revenue for the U.S. federal government.

True

Each year, the Federal Open Market Committee holds eight regularly scheduled meetings to make decisions about open market operations.

True

The amount of input divided by the amount of output equals productivity.

False

Economists declare an official recession when gross domestic product decreases for six consecutive quarters.

False

Disinflation is defined as a period of slowing average price increases across an economy.

True

In the context of monetary policy, when the Fed reduces the discount rate, banks will have to obtain funds at a higher cost.

False

In the context of federal debt, if spending is lower than revenue, the government incurs a budget deficit.

False

Gross Domestic Product (GDP) levels tend to be somewhat understated, since they don't include any illegal activities, which can represent a significant portion of some countries' production.

True

The structure of the Board of Governors of the Federal Reserve is such that no single president can appoint all of the Board's members.

True

In the context of monetary policy, the money supply includes credit cards.

False

In 1982, the total expenditure of the government of Kargenia, a European country, exceeded its revenue by a substantial amount. This forced the government of Kargenia to borrow funds to meet its legal obligations. In this scenario, the government of Kargenia incurred a _____ in 1982.

budget deficit

In a business cycle, the _____ is a period of robust economic growth and high employment.

expansion

In the context of the free market system, which of the following market structures has a low barrier to entry?

Pure competitions

Anoush used to work for an investment firm. Although she liked her job, she had to resign because it took her a lot of time to commute to work. After resigning, she searched for a job, and within a month, she found a better job that was closer to her home. In the given scenario, the duration of Anoush's unemployment exemplifies _____.

frictional unemployment

In the context of monetary policy, the _____ is a rule set by the Fed, which specifies the minimum amount of funds a bank must hold, expressed as a percentage of the bank's deposits.

reserve requirement

To bring inflation under control, the Fed:

reduces the money supply.

_____ is a market structure with only a handful of competitors selling products that can be similar or different and has high barriers to entry.

Oligopoly

Which of the following statements best defines the producer price index (PPI)?

It measures the change over time in the prices that businesses pay each other for goods and services.

During a period of inflation in the United States, the Federal Reserve sells treasury bonds. Buyers of these bonds write checks to the Fed, and the Fed cashes these checks from banks. Given this information, the banks will most likely:

cut back on the loans they make.

In the context of monetary policy, if the Fed decreases the reserve requirement, _____.

there will be more loans available

In the context of monetary policy, the Fed is most likely to reduce the discount rate during:

recessions

Real gross domestic product (GDP) measures the total value of final goods and services produced within a nation's physical boundaries over a given period of time, adjusted for:

inflation

In its role as a banker for banks, the Fed:

coordinates the check-clearing process for checks on behalf of any banks that are willing to pay its fees.

In the context of open market operations, when inflation is a concern, the Federal Reserve _____ government securities.

sells

The term _____ refers to a market structure with many competitors selling differentiated products; the barriers to enter such a market structure are low.

monopolistic competition

The government of the South Asian nation of Albana is unable to maintain the electronics business effectively because of slack in management and lack of skilled employees. It sells the business to a company called Ramington Electricals. The company has no association with the government, and it operates on its own terms. The sale of the government-owned electronics business to Ramington Electricals is an example of _____.

privatization

_____ is a market structure with just a single producer completely dominating the industry.

Monopoly

Which of the following is an example of a natural monopoly?

Public utilities

Which of the following is a difference between inflation and deflation?

A high level of inflation is bad for the economy, whereas a high level of deflation signifies a healthy economy.

The Fed directly stimulates spending by:

buying government securities.

Which of the following tools is most frequently used by the Fed to expand and contract the money supply in the economy?

Open market operations

In the context of price levels, which of the following is used by the government to evaluate inflation?

The consumer price index

In the context of monetary policy, when the economy is weak, the Fed:

buys government securities on the open market.

Which of the following is one of the core purposes of the Fed?

Influencing the size of the money supply

In the context of fiscal policy, which of the following actions by the government helps boost the economy in the long term?

Investing in public assets, such as a national renewable energy grid

New Tapan, an African country, invested resources in the defense sector, and as a result, its budget deficit grew. To decrease the budget deficit, the government of New Tapan cut down its expenditures in several other sectors and imposed higher taxes. Similar measures implemented by the government in the United States would most likely create _____.

the fiscal cliff

In the context of monetary policy, which of the following statements is true of money supply?

The M1 money supply includes all currency plus checking accounts and traveler's checks.

Brontsky & Co., a member bank of the Fed, receives a notice from the Fed that notifies that it must hold funds equal to 15% of the deposits held by its customers. In this scenario, the 15% is the _____.

reserve requirement

A(n) _____ is a structure for allocating limited resources.

economic system

Macroeconomics involves the study of:

the gross domestic product of a country.

Microeconomics focuses on:

individual businesses.

In its role as a regulator, the Fed:

oversees mergers and acquisitions.

The United States goes through a period of recession because of the continuous decrease in the nation's gross domestic product. The Fed intervenes and improves the situation by reducing the discount rate. This move by the Fed will result in:

banks obtaining funds at a lower cost.

Gregory was a typist at a corporate firm. When the company adopted a special voice recognition software for the purpose of documentation, Gregory's job became redundant. Therefore, he was laid off. The increased use of technology in most companies has made Gregory's skills inessential, and he remained unemployed for a long time. In the given scenario, Gregory is facing _____.

structural unemployment

_____ refers to Federal Reserve decisions that shape the economy by influencing interest rates and the supply of cash.

Monetary policy

In response to inflation, the Fed is likely to:

increase the discount rate.

Which of the following statements is true of productivity?

A high level of productivity typically correlates with healthy gross domestic product growth.

The district of Dansas in Nerito, a European country, is a major producer of walnuts. All producers in the district sell packaged walnuts. The market structure is flexible enough for producers to enter and leave the market as and when they wish, but no single producer has control over the prices of the product. Which of the following market structures exists in Dansas?

Pure competition

A newly appointed government in the United States requests Congress to raise the amount of money that the government can borrow. This borrowed money is intended to be used to cover the costs of the major policies that the government plans to implement. In this scenario, the government has asked the Congress to hike its _____.

debt ceiling

Identify a true statement about the debt ceiling.

Voting on the debt ceiling happens separately from voting on taxes and spending.

Identify a true statement about the Federal Reserve.

It manages the monetary policy of the United States.

A limited liability company (LLC) can elect to be taxed as a corporation.

True

Corporations are by far the most common type of business organization in the United States.

Flase

A disadvantage of an S corporation is that it can have no more than 50 stockholders.

False

A corporation can be a partner in a partnership.

True

One of the limitations of a not-for-profit corporation is that it cannot have stockholders.

True

The earnings of not-for-profit corporations are exempt from federal and state income taxes.

True

The most basic form of a partnership is known as a general partnership.

True

A corporation offers more flexibility than a limited liability company (LLC) in terms of tax treatment.

False

A corporation is a business entity created by filing a form, which is known in most states as the articles of incorporation.

True

It is possible to establish a corporation by a simple verbal agreement.

True

The Internal Revenue Service classifies each limited liability company (LLC) based on the tax treatment the company selects.

True

Signing a franchise agreement exempts the franchisee from making any form of payments to use a franchisor's products.

False

A limited partnership is an agreement between two or more individuals to operate a business as co-owners for a limited period of time.

False

One of the advantages of a C corporation is ease of formation.

False

One of the disadvantages of general partnerships is the lack of continuity.

True

A sole proprietorship tends to be both larger and more profitable than a partnership.

False

Common stock represents the basic ownership interest in a corporation.

True

The most common type of corporation is an S corporation.

False

Michael owns 100 shares of stock in the Zanson Electricals Corporation, but as a stockholder, he does not have the right to vote in stockholders' meetings. In this scenario, Michael is a preferred stockholder.

True

In the context of limited partnerships, the general partners of a company assume limited personal liability for any of the company's debts.

False

There is no limit on the number of partners who can participate in a general partnership.

True

100

Choice of ownership determines the degree to which each owner has personal liability for the firm's debts.

True

Part 2

Part 2

part 3

part 3

BUS TEST #2 Chapter 17

ユーザ名非公開 · 45問 · 1年前

BUS TEST #2 Chapter 17

BUS #2 Chapter 13

BUS #2 Chapter 13

BUS #2 chapter 9

BUS #2 chapter 9

BUS #2 Chapter 8

BUS #2 Chapter 8

問題一覧

In the context of the history of American business, the industrial revolution era encouraged workers to take individual ownership and personal pride in the production process.

False

Demographic factors include the milestones achieved during the developments in the field of computers, telecommunications, and other digital products.

False

Online technology prevents leading-edge companies from offering customized products at prices that are comparable to standardized products.

False

The central banking system of the United States is the Federal Reserve.

True

During the production era, managers focused mostly on customer satisfaction and not on production efficiency.

False

People can create natural resources by growing and harvesting agricultural products.

False

In the context of the competitive environment of business, unlike leading-edge firms, bleeding-edge firms offer products just as the market becomes ready to embrace them.

False

In the context of the competitive environment of business, a product has value when its benefits to the customer are lesser than the price that the customer pays.

False

Which of the following statements is true of profit in a business?

It is the financial reward that comes from starting and running a business.

Aging population

In the context of factors of production, which of the following statements is true of capital?

It does not include money.

Finding and holding the best talent

The competitive environment

In the context of the history of American business, during the entrepreneurship era, _____.

many industrial titans forced out their competitors

Which of the following is an example of a nonprofit organization?

Hollorg, a community museum that is funded by a trust and is free for public use

Gormath Inc., a shoe manufacturing company, employs 750 workers to create handcrafted shoes. In the context of factors of production, the employees of Gormath Inc. can be classified as _____.

human resources

entrepreneurship

Which of the following statements is true of the economic environment of a business?

It is affected by corruption.

capital

Which of the following is a characteristic of entrepreneurs?

They risk their time, money, and other resources to start and manage their business.

Diversity

The competitive environment

Reserve requirement is a rule of the Fed which requires that all of its member banks hold funds which are more than the stated percentage of the deposits held by their customers.

False

In the context of monetary policy, when the economy contracts, the Fed typically decreases the money supply.

False

Gross Domestic Product (GDP) measures the total value of all the imports and exports of a nation on a quarterly basis.

False

The consumer market basket of goods and services, in which the consumer price index (CPI) measures the change in weighted-average price over time, is created by the U.S. Bureau of Labor Statistics.

True

The gross domestic product (GDP) includes output produced within households.

False

Social security taxes are a source of revenue for the U.S. federal government.

True

Each year, the Federal Open Market Committee holds eight regularly scheduled meetings to make decisions about open market operations.

True

The amount of input divided by the amount of output equals productivity.

False

Economists declare an official recession when gross domestic product decreases for six consecutive quarters.

False

Disinflation is defined as a period of slowing average price increases across an economy.

True

In the context of monetary policy, when the Fed reduces the discount rate, banks will have to obtain funds at a higher cost.

False

In the context of federal debt, if spending is lower than revenue, the government incurs a budget deficit.

False

Gross Domestic Product (GDP) levels tend to be somewhat understated, since they don't include any illegal activities, which can represent a significant portion of some countries' production.

True

The structure of the Board of Governors of the Federal Reserve is such that no single president can appoint all of the Board's members.

True

In the context of monetary policy, the money supply includes credit cards.

False

budget deficit

In a business cycle, the _____ is a period of robust economic growth and high employment.

expansion

In the context of the free market system, which of the following market structures has a low barrier to entry?

Pure competitions

frictional unemployment

In the context of monetary policy, the _____ is a rule set by the Fed, which specifies the minimum amount of funds a bank must hold, expressed as a percentage of the bank's deposits.

reserve requirement

To bring inflation under control, the Fed:

reduces the money supply.

_____ is a market structure with only a handful of competitors selling products that can be similar or different and has high barriers to entry.

Oligopoly

Which of the following statements best defines the producer price index (PPI)?

It measures the change over time in the prices that businesses pay each other for goods and services.

cut back on the loans they make.

In the context of monetary policy, if the Fed decreases the reserve requirement, _____.

there will be more loans available

In the context of monetary policy, the Fed is most likely to reduce the discount rate during:

recessions

Real gross domestic product (GDP) measures the total value of final goods and services produced within a nation's physical boundaries over a given period of time, adjusted for:

inflation

In its role as a banker for banks, the Fed:

coordinates the check-clearing process for checks on behalf of any banks that are willing to pay its fees.

In the context of open market operations, when inflation is a concern, the Federal Reserve _____ government securities.

sells

The term _____ refers to a market structure with many competitors selling differentiated products; the barriers to enter such a market structure are low.

monopolistic competition

privatization

_____ is a market structure with just a single producer completely dominating the industry.

Monopoly

Which of the following is an example of a natural monopoly?

Public utilities

Which of the following is a difference between inflation and deflation?

A high level of inflation is bad for the economy, whereas a high level of deflation signifies a healthy economy.

The Fed directly stimulates spending by:

buying government securities.

Which of the following tools is most frequently used by the Fed to expand and contract the money supply in the economy?

Open market operations

In the context of price levels, which of the following is used by the government to evaluate inflation?

The consumer price index

In the context of monetary policy, when the economy is weak, the Fed:

buys government securities on the open market.

Which of the following is one of the core purposes of the Fed?

Influencing the size of the money supply

In the context of fiscal policy, which of the following actions by the government helps boost the economy in the long term?

Investing in public assets, such as a national renewable energy grid

the fiscal cliff

In the context of monetary policy, which of the following statements is true of money supply?

The M1 money supply includes all currency plus checking accounts and traveler's checks.

reserve requirement

A(n) _____ is a structure for allocating limited resources.

economic system

Macroeconomics involves the study of:

the gross domestic product of a country.

Microeconomics focuses on:

individual businesses.

In its role as a regulator, the Fed:

oversees mergers and acquisitions.

banks obtaining funds at a lower cost.

structural unemployment

_____ refers to Federal Reserve decisions that shape the economy by influencing interest rates and the supply of cash.

Monetary policy

In response to inflation, the Fed is likely to:

increase the discount rate.

Which of the following statements is true of productivity?

A high level of productivity typically correlates with healthy gross domestic product growth.

Pure competition

debt ceiling

Identify a true statement about the debt ceiling.

Voting on the debt ceiling happens separately from voting on taxes and spending.

Identify a true statement about the Federal Reserve.

It manages the monetary policy of the United States.

A limited liability company (LLC) can elect to be taxed as a corporation.

True

Corporations are by far the most common type of business organization in the United States.

Flase

A disadvantage of an S corporation is that it can have no more than 50 stockholders.

False

A corporation can be a partner in a partnership.

True

One of the limitations of a not-for-profit corporation is that it cannot have stockholders.

True

The earnings of not-for-profit corporations are exempt from federal and state income taxes.

True

The most basic form of a partnership is known as a general partnership.

True

A corporation offers more flexibility than a limited liability company (LLC) in terms of tax treatment.

False

A corporation is a business entity created by filing a form, which is known in most states as the articles of incorporation.

True

It is possible to establish a corporation by a simple verbal agreement.

True

The Internal Revenue Service classifies each limited liability company (LLC) based on the tax treatment the company selects.

True

Signing a franchise agreement exempts the franchisee from making any form of payments to use a franchisor's products.

False

A limited partnership is an agreement between two or more individuals to operate a business as co-owners for a limited period of time.

False

One of the advantages of a C corporation is ease of formation.

False

One of the disadvantages of general partnerships is the lack of continuity.

True

A sole proprietorship tends to be both larger and more profitable than a partnership.

False

Common stock represents the basic ownership interest in a corporation.

True

The most common type of corporation is an S corporation.

False

True

In the context of limited partnerships, the general partners of a company assume limited personal liability for any of the company's debts.

False

There is no limit on the number of partners who can participate in a general partnership.

True

100

Choice of ownership determines the degree to which each owner has personal liability for the firm's debts.

True