SEVI Exam 1 with complete solution 2023 with complete
solution
Which of the following is not one of the fundamental assumptions of Adam
Smith's capitalism?
The key industries are owned and controlled by the government
When Delta Airlines, American Airlines and a few other firms dominates the U.S.
airline industry, this is an example of
Oligopoly
Which of the following is the Federal reserve applying when it lowers the interest
rate charges to banks on short-term loans
Monetary policy
When the United States levies a tax on textiles from Cambodia, this tax is a type
of
tariff
If the Kingdom of Arendelle had total exports of $150 billion and total imports of
$234 billion, it had a
trade deficit
If China were to trade low cost computer chips to Canada in exchange for wheat,
these countries would execute an
countertrade agreement
Which of the following functions is not preformed by a trading company
manufacturing products for foreign trading
U.S automakers are concerned about the availability of so many foreign cars to
U.S. consumers and that their chances to sell their own cars are limited. To
directly correct the situation, they asked Congress to impose an
import quota
Chick-fil-a is 100 percent owned by the descendants of the S. Truett Catty family
and is therefore referred to as an
closed corporation
In the process of incorporating, a business
may incorporate in any state it choses
Which of the following is not a disadvantage of the corporate form of ownership
limited liability
What does double taxation mean
companies must pay taxes on their earning, and then stockholders pay taxes on their
dividends
Actor Ashton Kutcher regularly invests in promising startups and has a track
record of investing to companies that will become successful such as Uber and
Airbnb. How would you classify his role in financing small businesses
angel investor
Which of the following is a form of debt financing
Bank Loan
When 7-11 contracts with Oscar to operate an individually owned business as
though it were part of the 7-11 chain of stores, 7-11 is an
solution
Which of the following is not one of the fundamental assumptions of Adam
Smith's capitalism?
The key industries are owned and controlled by the government
When Delta Airlines, American Airlines and a few other firms dominates the U.S.
airline industry, this is an example of
Oligopoly
Which of the following is the Federal reserve applying when it lowers the interest
rate charges to banks on short-term loans
Monetary policy
When the United States levies a tax on textiles from Cambodia, this tax is a type
of
tariff
If the Kingdom of Arendelle had total exports of $150 billion and total imports of
$234 billion, it had a
trade deficit
If China were to trade low cost computer chips to Canada in exchange for wheat,
these countries would execute an
countertrade agreement
Which of the following functions is not preformed by a trading company
manufacturing products for foreign trading
U.S automakers are concerned about the availability of so many foreign cars to
U.S. consumers and that their chances to sell their own cars are limited. To
directly correct the situation, they asked Congress to impose an
import quota
Chick-fil-a is 100 percent owned by the descendants of the S. Truett Catty family
and is therefore referred to as an
closed corporation
In the process of incorporating, a business
may incorporate in any state it choses
Which of the following is not a disadvantage of the corporate form of ownership
limited liability
What does double taxation mean
companies must pay taxes on their earning, and then stockholders pay taxes on their
dividends
Actor Ashton Kutcher regularly invests in promising startups and has a track
record of investing to companies that will become successful such as Uber and
Airbnb. How would you classify his role in financing small businesses
angel investor
Which of the following is a form of debt financing
Bank Loan
When 7-11 contracts with Oscar to operate an individually owned business as
though it were part of the 7-11 chain of stores, 7-11 is an
