BUS6600 FINAL EXAM WITH CORRECT
ANSWERS 2026/GRADED A+
1. Which industry will most likely benefit from an aging population? - ANSWER-
Home health care business
2. Empowerment means - ANSWER-Giving employees the authority to make
decisions
3. World trade has both benefits and costs. Which statement best attests to this fact? -
ANSWER-Engaging in international trade can significantly lower the costs for parts
and products, but it also carries the risk of substantial disruption if supply chain
issues arise.
4. Effectiveness means - ANSWER-Producing the desired result
5. Healthcare, insurance, recreation and other intangible products are provided by
what industry? - ANSWER-Service industry
6. When corruption is present in the business environment, what often occurs? -
ANSWER-Company leaders threaten competitors and minimize competition.
7. What policies tend to favor business? - ANSWER-Minimal government spending
because it keeps taxes to a minimum.
8. Manufacturing firms in the United States have consistently been laying off workers.
Based on what you have learned, the best explanation of this trend is what? -
, ANSWER-Firms in many industries have become so efficient that they need fewer
workers
9. The resources that contribute to the creation of wealth are known as what? -
ANSWER-Factors of production
10. Taxes and government regulations are part of the ______________ environment of
business. - ANSWER-Economic and legal
11. What statement is accurate about the threat of terrorism and business? - ANSWER-
It is costly to most firms because of increased costs for security, equipment, and
insurance.
12. Since the beginning of the 1900s, the agricultural sector of the United States has -
ANSWER-Experienced a significant drop in employment, mainly because of
tremendous improvements
13. in efficiency.
14. Which individual would tend to favor a socialist economy? - ANSWER-Amber
prefers to live in a country that promotes social equality
15. Microeconomics - ANSWER-Looks at the behavior of individual people and
organizations in specific markets
16. Which policy suggests Keynesian economic theory? - ANSWER-short-term increases
in government spending to stimulate the economy
17. As you are reading the online edition of your local newspaper, you quickly scan a
report in the business section that says government spending will again exceed tax
, revenues in the current year. What does this mean for the economy? - ANSWER-
total national debt is likely to increase
18. There are innovations involving new ways to produce and conserve energy. If we
can turn this new technology into marketable products and services that produce
energy to run our businesses and homes, the U.S. could see a surge in output of
goods and services. What would be measured to document this surge? - ANSWER-
Gross Domestic Product, which is the value of a nation's total output of final goods
and services over a given year
19. The United States greatly relies on GDP data. However, it is only the total value of
finished goods produced by the country. Officials are looking to measure total sales
volume at all stages of production. What statistic would be most useful to them? -
ANSWER-Gross output, which is the measure of total sales volume at all stages of
production
20. What is the name of a free-market economic system in which most factors of
production and distribution—such as land, factories, railroads, and stores— are
owned by individuals? - ANSWER-Capitalism
21. The main goal of resource development is to find ways to - ANSWER-increase the
amount of resources and create conditions that will make better use of those
resources
22. Which statement about the Federal Reserve Bank (the Fed) is most accurate? -
ANSWER-the fed manages the U. S. money supply and interest rates
23. Efforts by the Fed to control the money supply and interest rates are known as what
policy? - ANSWER-Monetary
ANSWERS 2026/GRADED A+
1. Which industry will most likely benefit from an aging population? - ANSWER-
Home health care business
2. Empowerment means - ANSWER-Giving employees the authority to make
decisions
3. World trade has both benefits and costs. Which statement best attests to this fact? -
ANSWER-Engaging in international trade can significantly lower the costs for parts
and products, but it also carries the risk of substantial disruption if supply chain
issues arise.
4. Effectiveness means - ANSWER-Producing the desired result
5. Healthcare, insurance, recreation and other intangible products are provided by
what industry? - ANSWER-Service industry
6. When corruption is present in the business environment, what often occurs? -
ANSWER-Company leaders threaten competitors and minimize competition.
7. What policies tend to favor business? - ANSWER-Minimal government spending
because it keeps taxes to a minimum.
8. Manufacturing firms in the United States have consistently been laying off workers.
Based on what you have learned, the best explanation of this trend is what? -
, ANSWER-Firms in many industries have become so efficient that they need fewer
workers
9. The resources that contribute to the creation of wealth are known as what? -
ANSWER-Factors of production
10. Taxes and government regulations are part of the ______________ environment of
business. - ANSWER-Economic and legal
11. What statement is accurate about the threat of terrorism and business? - ANSWER-
It is costly to most firms because of increased costs for security, equipment, and
insurance.
12. Since the beginning of the 1900s, the agricultural sector of the United States has -
ANSWER-Experienced a significant drop in employment, mainly because of
tremendous improvements
13. in efficiency.
14. Which individual would tend to favor a socialist economy? - ANSWER-Amber
prefers to live in a country that promotes social equality
15. Microeconomics - ANSWER-Looks at the behavior of individual people and
organizations in specific markets
16. Which policy suggests Keynesian economic theory? - ANSWER-short-term increases
in government spending to stimulate the economy
17. As you are reading the online edition of your local newspaper, you quickly scan a
report in the business section that says government spending will again exceed tax
, revenues in the current year. What does this mean for the economy? - ANSWER-
total national debt is likely to increase
18. There are innovations involving new ways to produce and conserve energy. If we
can turn this new technology into marketable products and services that produce
energy to run our businesses and homes, the U.S. could see a surge in output of
goods and services. What would be measured to document this surge? - ANSWER-
Gross Domestic Product, which is the value of a nation's total output of final goods
and services over a given year
19. The United States greatly relies on GDP data. However, it is only the total value of
finished goods produced by the country. Officials are looking to measure total sales
volume at all stages of production. What statistic would be most useful to them? -
ANSWER-Gross output, which is the measure of total sales volume at all stages of
production
20. What is the name of a free-market economic system in which most factors of
production and distribution—such as land, factories, railroads, and stores— are
owned by individuals? - ANSWER-Capitalism
21. The main goal of resource development is to find ways to - ANSWER-increase the
amount of resources and create conditions that will make better use of those
resources
22. Which statement about the Federal Reserve Bank (the Fed) is most accurate? -
ANSWER-the fed manages the U. S. money supply and interest rates
23. Efforts by the Fed to control the money supply and interest rates are known as what
policy? - ANSWER-Monetary
