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"In the US the control of the money supply is the responsibility of:

the Federal Reserve

"Pampered Pooch is a dog groomer in the area looking to increase productivity for the business. Currently

Divide 12 dogs per day, by 8 hours.

A basic characteristic of ____ is that both producers and consumers are free to make their own economic decisions on many basic issues.


_____ means that prices on average are rising


Macroeonomics focuses on:

"the major issues facing the nation economy

"With the tragedy of the 9/11 attacks and the devastation of Hurricane Katrina some workers in New York City and New Orleans experienced "

structural unemployement

The main economic goal of the government in a socialist economy is to

operate key economic enterprises in the best interests of the general public.

Members of the US Congress have voted themselves an annual pay raise while the country is operating under a budget deficit. The pay raise for all members of Concress will generate

an increase in the federal debt.

"Some argue the Federal Reserves lowering of interest rates from mid-2000 to the end of 2002 greatly increased the money supply; however

opportunities to invest yeilded paltry returns leading bankers to offer_____in order to earn a higher return"

The father of modern capitalism is _________

Adam Smith

"Recently IB Rheele read in the newspaper that the Federal Reserve chairman had expressed concern about inflation and indicated the Fedarl Reserve would be taking some action in order to prevent inflation from spiraling out of control.  The Federal Reserve could use all of the following tools except

increasing government spending on roads and bridges

"Early in your first term as President of the United States you faced an economy in the beginnings of a recession. Which of the following would represent an example of a fiscal policy you might suggest to deal with this sutation?"

Which of the following is not a fundamental right of capitalism?

Right to keep profits and not pay taxes

All of the following are basic freedoms encouraging entrepreneurship except

"Too much taxation an overuse of regulation and limited choices in the broader business environment are likely to result in

a decrease in entreprenneurial activities.

"John Blue has started his own Internet business

"Tiny Timbers Tree Farm sells a variety of trees for different customers. Recently the company received notice from the US Department of Fish and Wildlife that a shortage of fir trees is affecting a rare moth population. The federal agency has ruled that tree farms must refrain from cultivating fir trees for business use until further notice. Which element of Tiny Timbers' environment is most directly affected by this ruling"


_______ boomed as mass production took hold during the Industrial Revolution

Factory production

Your college has contracted with a construction company to build a new bookstore. The heavy machinery and equipment the contract will use in the contruction process are classified as



"Given the importance of _______ to workforce effectiveness some business experts, such as the former management guru Peter Drukcker, separate this factor from human resources


Business transactions that occur online are examples of


Types of nonprofit organziations include:

All of the above.  What are all of the above?

The hard sell or aggressive persuasion designed to separate consumers from their cash emerged during the _______

production era

Although Russia is rich in human resources and natural resources the country ranks relatively low in terms of gross national income per person. The missing ingredient seems to be lack of entrpreneurship due to:

rising levels of government corruption

"in 1995 a renegotiation of the General Agreement on Tarriffs and Trade (GATT) took bold steps to lower tariffs and to reduce trade restrictions. A tariff is a "

tax on imports

Jose Torres recently visited family in Argentina. He was confused when at a bank in LaPlata he exchanged his United States dollars *USD) for Argentinean Peso (AP) for 1 USD=10 AP. Two years ago when visiting family the exchange rate was 1 USD=7AP at the same bank. After thing about the transaction Jose concluded that

The United States Dollar had strengthened when compared to the Argentian Peso.

_____ is the most basic level of international market development and involves shipping domestically produced products overseas


The net result of all money that flows into and out of a nation due to international payments is measured by the nations's ________

balance of payments

"In 2002 the United States stell industry lobbied the United States government to place a tax on the importation of foreign produced steel. The goal was to make imported foreign steel more expensive giving economic relief to US steel producer. Foreign steel producer paid and the United States government received a(n) "


"Ross has two different projects he would like to work on this weekend; paint the spare bedroom or perform some minor repairs on his old '83 Chevy. Unfortunatley he doesn't have time to do both this weekend. The fact that Ross must give up one thing in order to do something else illustrates the concept of "

"Foreign outsourcing provides numerous benefits to companies involved in the process but also to consumers. However the process is not without issues. One key issue is"

Quality control can be compromised

Nashika spent a two-week vacation in Africa and purchased more than $4000 worth of Afriucan tribal art. Upon return to the US she was required to pay a(n) _______ on the art work.


At At the beginning of the 21st century:

many developing nations seemed poised for strong economic growth

"When comparing a nation's balance of trade with its balance of payments it is important to realize that "

the balance of payments includes the balance of trade, but it also includes other financial flows such as foreign borrowing and lending.

Trading blocs are groups of countries

that have reduced or eliminated tariffs allowing for a free flow of goods among member nations

Internation trade provides businesses with access to new customers through

"outsourcing, importing, exporting, licensing, franchising, and foreign direct investment.

Reasons to eliminate trade restrictions include all of the following except

protect national security

During the 1990s Levi Strauss discovered that two of its suppliers were not living up to their code of conduct. Instead of firing the workers Levi Strauss developed a creative win-win situation. The type of issues the leaders of Levi Strauss were concerned with include:

Child Labor

In today's business environment many businesses are monitoring themselves conducint a systematic evaluation of how well the business is meeting its ethics and social responsibilities. This process is referred to as a(n):

social audit

Socially responsible employers

Establishing a code of conduct for vendors in foreign nation

"requires American firms to deal with a wide range of issues involving human rights protection

Home Deport employs more Olympic hopefuls than any other US company through its Olympic Job Opportunities Program. The business offers athletes full-time pay and benfits for a flexible 20-hour work week in order to accommodate demanding training scheules. This is an example of

Corporate responsibility.

A social audit is a systematic evaluation of

how well a firm is meeting its ethical standards and social responsibility goals.

_________ are some of the most challenging issues for international businesses

Bribery and corruption committed by companies and individuals

"As president of MiCasa Su Casa Inc. Marty Steward attendied a seminar on creating an ethical orgainziation. She learned that a strong organization culture works in tandem with formal ethics program. If Marty wants to create a formal ethics program she should start with a(n)"

written code of ethics

"A canoe and recreation club recently filed suit against a number of manufacturing plants located along the Missouri River. In the suit the club claimed that the plants failed to adequatley treat the waste that is being dumped into the streams and waterways thus adversely affecting the recreational opportunities available to club members.  The canoe and recreation club is an example of a(n) ______ of the manufacturing companies that operate these plants


The concept of a living wage

"Ben & Jerry's is recognized for being a socially conscious trendsetter. As a socially responsible company this maker of high-quality ice cream is likely to focus on"

finding the proper balance between earning profits and meeting responsibilities to other stake holders.

"Chair of the Board of Directors Susan Waskal is concerned about the ethical standards at InKlone Inc. She has asked you to create a standard by which employees have the information they need to make ethical decisions across a range of situations. Susan has you to create a(n):"

code of ethics