BUS 6600 Quiz Questions and Verified
Solutions | Guaranteed pass
c. dealing sensitively with workers and cultures around the world. - Correct
Answer✔✔-Efforts are underway to serve the needs of a diverse population.
Embracing diversity means
a. meeting employment quotas so that diverse groups are always represented in
your workforce.
b. selling products to immigrants.
c. dealing sensitively with workers and cultures around the world.
d. providing government programs such as free health care for illegal and legal
immigrants.
d. Efficiency - Correct Answer✔✔-__________ means producing items using
the least amount of resources.
a. Productivity
b. Competence
c. Technology
d. Efficiency
c. wealthy nations have knowledge and entrepreneurial opportunities, while
poor nations are often lacking in these areas. - Correct Answer✔✔-When we
compare the factors of production in wealthy versus poor nations, we find
a. wealthy nations have land and labor, while poor nations have capital and
entrepreneurship.
b. poor nations have plenty of land and knowledge, but very little labor.
c. wealthy nations have knowledge and entrepreneurial opportunities, while
poor nations are often lacking in these areas.
d. poor and wealthy nations (both) have an abundance of knowledge; it is the
land that varies, with rich nations always having more.
b. demographics - Correct Answer✔✔-The statistical study of human
population to learn its size, density, and characteristics is called
a. econometrics.
b. demographics.
c. psychographics.
d. geometrics.
b. customer-driven. - Correct Answer✔✔-In order to compete well and gain
market share, contemporary businesses are changing to be more
1
,a. management-driven.
b. customer-driven.
c. production-driven.
d. Cash-driven.
d. It met the needs of our nation when it was first introduced, but needs an
overhaul. - Correct Answer✔✔-Which statement is accurate about the Social
Security system?
a. It continues to burden businesses because businesses must provide and pay
for this benefit for their employees.
b. It is failing because the U.S. government failed to invest the money that
employees contributed.
c. It will continue to serve the needs of U.S. citizens into the distant future,
because there are so few retirees placing a strain on it.
d. It met the needs of our nation when it was first introduced, but needs an
overhaul.
d. its employee's knowledge and skills. - Correct Answer✔✔-The value of a
firm's intellectual capital refers to
a. the type and success of its financial strategies.
b. its reputation in the marketplace.
c. the average educational level of management.
d. its employee's knowledge and skills.
a. there is less incentive to work hard. - Correct Answer✔✔-In countries where
businesses are government owned,
a. there is less incentive to work hard.
b. profits tend to be higher.
c. productivity tends to be highest.
d. the right amount of each good is produced.
a. minimal government spending because it keeps taxes to a minimum -
Correct Answer✔✔-What policies tend to favor business?
a. minimal government spending because it keeps taxes to a minimum
b. maximum government spending because it raises business profits
c. more government services because it minimizes tax consequences
d. increased regulation because it benefits stakeholders
a. revenue. - Correct Answer✔✔-The total amount of money that businesses
take in by selling goods and services is called
a. revenue.
b. loss.
2
,c. profit.
d. retained earnings.
c. B2B and B2C. - Correct Answer✔✔-The two major types of e-commerce
are
a. EDI and EDC.
b. online and offline.
c. B2B and B2C.
d. wholesale and retail.
d. finding ways to save energy and lessen the harm on our environment. -
Correct Answer✔✔-Greening refers to
a. the need for more carbon dioxide in our air.
b. firms acquiring more greenbacks (U.S. dollars) from world trade.
c. the agricultural industry's push to develop and produce new green vegetables
to feed the world.
d. finding ways to save energy and lessen the harm on our environment.
d. some wages, interest rates, tax rates, and government benefits are tied to
changes in the value of the CPI. - Correct Answer✔✔-One reason the CPI is
monitored very closely by government, businesses, and workers is that
a. the gross domestic product is computed from the reported increases in the
CPI.
b. it indicates whether we are running a budget surplus or a deficit.
c. it is the best measure of worker productivity in the service sector.
d. some wages, interest rates, tax rates, and government benefits are tied to
changes in the value of the CPI.
c. depression - Correct Answer✔✔-A __________ is a severe recession that is
usually accompanied by deflation.
a. retraction
b. dissolution
c. depression
d. stagflation
c. the right to own private property. - Correct Answer✔✔-The freedom for
people to buy, sell, and use land, buildings, machinery, and inventions are basic
capitalist rights under
a. freedom of choice.
b. freedom of expression.
c. the right to own private property.
d. freedom of competition.
3
, d. the market. - Correct Answer✔✔-A free market is one in which decisions
about what to produce and in what quantities are made by
a. the Fed.
b. the president.
c. Congress.
d. the market.
b. cyclical. - Correct Answer✔✔-The four basic types of unemployment are
frictional, structural, seasonal, and
a. industrial.
b. cyclical.
c. traditional.
d. procedural
c. equals the equilibrium price. - Correct Answer✔✔-When prices are free to
adjust over time, in the long run, the market price of a good tends to
a. rise above the equilibrium price in the long run.
b. has no specific relationship to the equilibrium price.
c. equals the equilibrium price.
d. falls below the equilibrium price in the long run.
c. monetary - Correct Answer✔✔-Efforts by the Federal Reserve Bank (the
Fed) to control the money supply and interest rates are known as __________
policy.
a. securities
b. income
c. monetary
d. fiscal
c. equilibrium price of the good - Correct Answer✔✔-When the supply curve
and demand curve for a particular good are shown together on a single graph,
the point at which the two curves intersect identifies the
a. total profit earned by producers.
b. total amount of labor needed to produce the good.
c. equilibrium price of the good.
d. amount of time it takes to bring together the buyers and sellers of the good.
b. Seasonal business cycles occur within a year. - Correct Answer✔✔-Which
statement about business cycles in the United States is most accurate?
a. Long-term business cycles have only two phases—boom and bust.
b. Seasonal business cycles occur within a year.
4
Solutions | Guaranteed pass
c. dealing sensitively with workers and cultures around the world. - Correct
Answer✔✔-Efforts are underway to serve the needs of a diverse population.
Embracing diversity means
a. meeting employment quotas so that diverse groups are always represented in
your workforce.
b. selling products to immigrants.
c. dealing sensitively with workers and cultures around the world.
d. providing government programs such as free health care for illegal and legal
immigrants.
d. Efficiency - Correct Answer✔✔-__________ means producing items using
the least amount of resources.
a. Productivity
b. Competence
c. Technology
d. Efficiency
c. wealthy nations have knowledge and entrepreneurial opportunities, while
poor nations are often lacking in these areas. - Correct Answer✔✔-When we
compare the factors of production in wealthy versus poor nations, we find
a. wealthy nations have land and labor, while poor nations have capital and
entrepreneurship.
b. poor nations have plenty of land and knowledge, but very little labor.
c. wealthy nations have knowledge and entrepreneurial opportunities, while
poor nations are often lacking in these areas.
d. poor and wealthy nations (both) have an abundance of knowledge; it is the
land that varies, with rich nations always having more.
b. demographics - Correct Answer✔✔-The statistical study of human
population to learn its size, density, and characteristics is called
a. econometrics.
b. demographics.
c. psychographics.
d. geometrics.
b. customer-driven. - Correct Answer✔✔-In order to compete well and gain
market share, contemporary businesses are changing to be more
1
,a. management-driven.
b. customer-driven.
c. production-driven.
d. Cash-driven.
d. It met the needs of our nation when it was first introduced, but needs an
overhaul. - Correct Answer✔✔-Which statement is accurate about the Social
Security system?
a. It continues to burden businesses because businesses must provide and pay
for this benefit for their employees.
b. It is failing because the U.S. government failed to invest the money that
employees contributed.
c. It will continue to serve the needs of U.S. citizens into the distant future,
because there are so few retirees placing a strain on it.
d. It met the needs of our nation when it was first introduced, but needs an
overhaul.
d. its employee's knowledge and skills. - Correct Answer✔✔-The value of a
firm's intellectual capital refers to
a. the type and success of its financial strategies.
b. its reputation in the marketplace.
c. the average educational level of management.
d. its employee's knowledge and skills.
a. there is less incentive to work hard. - Correct Answer✔✔-In countries where
businesses are government owned,
a. there is less incentive to work hard.
b. profits tend to be higher.
c. productivity tends to be highest.
d. the right amount of each good is produced.
a. minimal government spending because it keeps taxes to a minimum -
Correct Answer✔✔-What policies tend to favor business?
a. minimal government spending because it keeps taxes to a minimum
b. maximum government spending because it raises business profits
c. more government services because it minimizes tax consequences
d. increased regulation because it benefits stakeholders
a. revenue. - Correct Answer✔✔-The total amount of money that businesses
take in by selling goods and services is called
a. revenue.
b. loss.
2
,c. profit.
d. retained earnings.
c. B2B and B2C. - Correct Answer✔✔-The two major types of e-commerce
are
a. EDI and EDC.
b. online and offline.
c. B2B and B2C.
d. wholesale and retail.
d. finding ways to save energy and lessen the harm on our environment. -
Correct Answer✔✔-Greening refers to
a. the need for more carbon dioxide in our air.
b. firms acquiring more greenbacks (U.S. dollars) from world trade.
c. the agricultural industry's push to develop and produce new green vegetables
to feed the world.
d. finding ways to save energy and lessen the harm on our environment.
d. some wages, interest rates, tax rates, and government benefits are tied to
changes in the value of the CPI. - Correct Answer✔✔-One reason the CPI is
monitored very closely by government, businesses, and workers is that
a. the gross domestic product is computed from the reported increases in the
CPI.
b. it indicates whether we are running a budget surplus or a deficit.
c. it is the best measure of worker productivity in the service sector.
d. some wages, interest rates, tax rates, and government benefits are tied to
changes in the value of the CPI.
c. depression - Correct Answer✔✔-A __________ is a severe recession that is
usually accompanied by deflation.
a. retraction
b. dissolution
c. depression
d. stagflation
c. the right to own private property. - Correct Answer✔✔-The freedom for
people to buy, sell, and use land, buildings, machinery, and inventions are basic
capitalist rights under
a. freedom of choice.
b. freedom of expression.
c. the right to own private property.
d. freedom of competition.
3
, d. the market. - Correct Answer✔✔-A free market is one in which decisions
about what to produce and in what quantities are made by
a. the Fed.
b. the president.
c. Congress.
d. the market.
b. cyclical. - Correct Answer✔✔-The four basic types of unemployment are
frictional, structural, seasonal, and
a. industrial.
b. cyclical.
c. traditional.
d. procedural
c. equals the equilibrium price. - Correct Answer✔✔-When prices are free to
adjust over time, in the long run, the market price of a good tends to
a. rise above the equilibrium price in the long run.
b. has no specific relationship to the equilibrium price.
c. equals the equilibrium price.
d. falls below the equilibrium price in the long run.
c. monetary - Correct Answer✔✔-Efforts by the Federal Reserve Bank (the
Fed) to control the money supply and interest rates are known as __________
policy.
a. securities
b. income
c. monetary
d. fiscal
c. equilibrium price of the good - Correct Answer✔✔-When the supply curve
and demand curve for a particular good are shown together on a single graph,
the point at which the two curves intersect identifies the
a. total profit earned by producers.
b. total amount of labor needed to produce the good.
c. equilibrium price of the good.
d. amount of time it takes to bring together the buyers and sellers of the good.
b. Seasonal business cycles occur within a year. - Correct Answer✔✔-Which
statement about business cycles in the United States is most accurate?
a. Long-term business cycles have only two phases—boom and bust.
b. Seasonal business cycles occur within a year.
4
