ETS Major Field Test (Practice Test): Bachelor's Degree in Business with Complete Solutions.

The common characteristic possessed by all assets is a) Long life b) Great monetary value c) Tangible nature d) Future economic benefit - ANSWER-d) Future economic benefit Which Foreign Direct Investment (FDI) attempts to acquire particular resources at a lower real cost than could be obtained in the home country? a) Market-seeking FDI b) Efficiency-seeking FDI c) Resource-seeking FDI d) Strategic asset-seeking FDI - ANSWER-c) Resource-seeking FDI Under the Uniform Commercial Code (UCC) statute of frauds, which of the following terms must be included in writing in order to satisfy the writing requirement? a) The price of the goods. b) The quantity of the goods. c) The signatures and names of the buyer and the seller d) The time and place for delivery - ANSWER-b) The quantity of the goods Which of the following is an appropriate Federal Reserve action to stimulate the United States economy? a) Selling government bonds on the open market b) Increasing the discount rate c) Reducing the reserve requirement d) Cutting taxes - ANSWER-c) Reducing the reserve requirement Which of the following is true with regard to an exculpatory clause? a) An exculpatory clause excuses one party from liability for his/her own tortious conduct. b) Where one party has a superior bargaining position that has enabled him/her to impose an exculpatory clause upon the other, the courts are inclined to nullify the provision.