PRACTICE SOLUTION EXAM REVIEW 2026
GUARANTEED TO PASS.
◍ Which type of unemployment is the employee expecting to be
unemployed for a portion of the year? Answer:Seasonal
◍ A specific economic situation when price and demand rise together.
Answer:Inflation
◍ As a business, is it best to reduce spending or increase spending in
a high-inflation environment? Answer:Reduce
◍ As a business, which competition requires government regulation
for entry? Answer:Monopoly
◍ Which type of competition is the easiest to enter? Answer:Pure
◍ What is the name of the graph that we use to demonstrate demand?
Answer:Demand Curve
◍ What is the point where supply and demand curves intersect?
Answer:Equilibrium Price
, ◍ Is the study of supply and demand a micro or macroeconomic
issue? Answer:Micro
◍ When federal taxes are reduced, is that micro or macro?
Answer:Macro
◍ When a tariff is increased on importing produce, is that micro or
macro? Answer:Macro
◍ Name the three tiers of management? Answer:Middle, Supervisory,
Top
◍ Management is the process of Answer:achieving organizational
objectives
◍ Which level of planning does the middle level manager complete?
Answer:Tactical
◍ All levels of management may have to contribute to the
contingency plan. Answer:True
◍ Select the skill sets required for management Answer:Technical,
Human, Conceptual
◍ Departmentalizing based by domestic and international is which
kind of departmentalization? Answer:Geographical