Hi. I took this test and messed up big time. I need the correct answers so I can review for the final. Can you help? (the highlighted answer are what I choose) thanks…

  1. Given the importance of _____ to workforce effectiveness, some business experts, such as management guru Peter Drucker, separate this factor from human resources.

/ a. / natural resources
/ b. / knowledge
/ c. / capital
/ d. / entrepreneurship

2 points

Question 2

  1. Super King Groceries competes with some of the larger chain stores in the area and offer services not provided by their competitors (i.e., car service, curb service, delivery service). Because Super King is not as large as some retailers, prices are moderately higher. This does not seem to hurt the store’s business due to the fact that

/ a. / Super Kinghas better food.
/ b. / customers just don’t like the competitor’s products.
/ c. / Super Kingcustomers receive value not provided by the other stores.
/ d. / Super King’s employees are friendlier.

2 points

Question 3

  1. Jenna has worked as a secretary for a small tech manufacturer for 45 years and probably should have retired a decade ago, but she enjoys having something to do. In that time, she has weathered many interpersonal storms, from angry customers to new products to tight deadlines to a moody boss. Just today, she came to work and discovered that the company had been sold to a Chinese conglomerate and that she no longer has a job. As she considers her options, she hears through the grapevine that her boss has been orchestrating this buyout for six months, that he knew the Chinese firm would be terminating her because of her age, and that he will be walking away with a hefty reward for his negotiations. What best categorizes the situation, in regard to the five dimensions of the business environment?

/ a. / technological environment because of the competitive advantage of e-commerce, Web presence, and bleeding-edge business technology
/ b. / social environment because of diversity and demographic considerations in the aging workforce, employer-employee loyalty considerations, and the area of ethics and social responsibility
/ c. / global environment because of American outsourcing
/ d. / competitive environment because of the buyout

2 points

Question 4

  1. As life spans increase and birthrates decrease, the working population will decrease while the number of retirees will increase. One example ofnewbusinessgrowth reflecting this market might be a(n):

/ a. / increase in the number of assisted living facilities.
/ b. / rise in the number of state laws requiring employers to offer prescription benefit plans for employees.
/ c. / new federal healthcare premium program adjusted for age.
/ d. / increase in the number of school-age after school programs.

2 points

Question 5

  1. Some argue that the Federal Reserve lowering interest rates from mid-2000 to the end of 2002 greatly increased the money supply; however, opportunities to invest yielded paltry returns leading bankers to offer _____ in order to earn a higher return.

/ a. / revolving lines of credit
/ b. / subprime mortgage loans
/ c. / fixed rate mortgage loans
/ d. / home equity lines of credit

2 points

Question 6

  1. Demand is defined as

/ a. / the amount of products produced.
/ b. / the quantity of products that consumers are willing to buy at different prices.
/ c. / the annual quantity of products sold by retailers.
/ d. / the number of consumers in a market.

2 points

Question 7

  1. To evaluate inflation, the government uses

/ a. / productivity and unemployment.
/ b. / monetary policy and fiscal policy.
/ c. / the consumer price index (CPI) and producer price index (PPI).
/ d. / inflation and disinflation.

2 points

Question 8

  1. Pampered Pooch is a dog groomer in the area looking to increase productivity for the business. Currently, in an eight-hour day, Pampered Pooch can wash and groom 12 large dogs. To calculate productivity, the management of Pampered Pooch would

/ a. / divide 8 hours by 12 dogs per day.
/ b. / divide 12 dogs by a 7-day work week and multiply the result by 8.
/ c. / divide the total weight of the dogs by 12, then multiply the results by the number of hours of labor per day (8 hours).
/ d. / divide the number of dogs groomed per day (12) by the amount of labor per day (8 hours).

2 points

Question 9

  1. Why is a low level of inflation desirable in an economy, and why is deflation not desirable?

/ a. / It reflects a healthy economy; people have money and are willing to spend it.
/ b. / Because a low level of inflation keeps a currency from edging too near deflation.
/ c. / Deflation means that the currency is increasing in value, and is actually desirable.
/ d. / Inflation helps to justify investment and keeps a currency strong.

2 points

Question 10

  1. Which of the following is a benefit of global trade to producers?

/ a. / simplified operations
/ b. / inflow of innovative ideas
/ c. / protection from competitive pressures
/ d. / ability to avoid ethical issues

2 points

Question 11

  1. What is the balance of trade?

/ a. / a measure of the total flow of money into or out of a country
/ b. / the relative value of one currency to that of another
/ c. / a measurement of the difference between exports and imports
/ d. / the measurement of the barter of products for products

2 points

Question 12

  1. In late 2002, a euro cost $1.00 of U.S. currency. In late 2007, a euro cost $1.49. This indicates that the

/ a. / euro weakened relative to the U.S. dollar.
/ b. / exchange rate between the dollar and the euro deviated significantly from its market equilibrium.
/ c. / U.S. dollar strengthened relative to the euro.
/ d. / U.S. dollar weakened relative to the euro.

2 points

Question 13

  1. When a country lacks hard currency, it must use _____ to complete international trade.

/ a. / importing
/ b. / licensing
/ c. / countertrade
/ d. / exporting

2 points

Question 14

  1. 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

/ a. / foreign outsourcing will cause unemployment to rise causing an economic collapse.
/ b. / while the production cost are lower, the cost to ship the goods can be quite high.
/ c. / environmental standards are more strict outside the United States.
/ d. / quality control can be compromised.

2 points

Question 15

  1. McDonald’s uses foreign _____ to build its corporate presence worldwide.

/ a. / licensing
/ b. / franchising
/ c. / direct investment
/ d. / outsourcing

2 points

Question 16

  1. As the chief of strategy for Paradigm Software, Bill Fence has decided the risks of software piracy in Indonesia are too high to justify a continued presence in that country. The barrier to international trade that Bill Fence is most concerned about is _____ in Indonesia.

/ a. / economic difference
/ b. / political climate
/ c. / infrastructure
/ d. / heavy international trade restriction

2 points

Question 17

  1. Nashika spent a two-week vacation in Africa and purchased more than $4,000 worth of African tribal art. Upon returning to the U.S., she was required to pay a(n) _____ on the artwork.

/ a. / tariff
/ b. / embargo
/ c. / customs charge
/ d. / quota

2 points

Question 18

  1. The function of laws in the United States is to establish and enforce _____ that apply to everyone in society.

/ a. / social norms
/ b. / ethical norms
/ c. / financial norms
/ d. / advanced standards

2 points

Question 19

  1. _____ apply to everyone across a broad spectrum of situations regardless of political, religious, class, and ethnic divisions.

/ a. / Ethical citizenship
/ b. / Ethical touchpoints
/ c. / Transnational ethical standards
/ d. / Universal ethical standards

2 points

Question 20

  1. Chris just signed off on a large corporate bank loan that infuses badly needed capital into his fledgling startup company. As a matter of tax planning, his strategy has always been to categorize anything he can as a business expense—from games of golf, to meals where the company is even briefly mentioned, to a company lease on a new BMW. But the bank loan was specifically written to provide capital for his current project, and with payments and interest included, he really can’t afford much else. Which answer is the most true?

/ a. / Chris is being irrational.
/ b. / Once the loan is written and funded, it doesn’t matter what Chris does with it. He’s not doing anything wrong.
/ c. / Chris’s behavior is both stupid and unethical, because he is being dishonest while simultaneously diverting funds from the project that will enable his company to survive.
/ d. / Chris may be engaging in illegal behavior because he is, in effect, lying to the bank.

2 points

Question 21

  1. The role of the CEO in setting the ethical tone for a company is

/ a. / less important than the role of the company’s chief ethics compliance officer.
/ b. / limited to making sure that the written code of ethics is enforced throughout the organization.
/ c. / to establish high ethical standards, clearly communicate these standards, and demonstrate a strong personal commitment to them.
/ d. / no greater and no smaller than the role of every other employee of the company; where ethical behavior is concerned; everyone has an equal responsibility.

2 points

Question 22

  1. Research indicates that the organizational culture

/ a. / will tolerate ethical abuses on the part of top management, but not ethical abuses committed by middle management or lower-level managers.
/ b. / influences the behavior of individual employees only if it involves clearly illegal behavior, such as stealing or committing fraud.
/ c. / has very little impact on the individual employee’s ethical behavior.
/ d. / has significant influence on the individual employee’s ethical behavior.

2 points

Question 23

  1. The purpose of a written code of ethics is to

/ a. / provide guidance to help employees make sound ethical decisions across a range of situations.
/ b. / explain how the organization will go about satisfying its social responsibilities to each major type of stakeholder.
/ c. / eliminate the need for top management to monitor ethical behavior, thus giving these managers more time to deal with other issues.
/ d. / satisfy the requirements of the Sarbanes-Oxley Act.

2 points

Question 24

  1. A code of ethics should include

/ a. / a tolerant approach to enforcement.
/ b. / executive exemptions, because they make decisions based on information other employees don’t often have.
/ c. / vague representations of ethical standards, since everybody is different.
/ d. / executive buy-in and top management communication and leading by example.

2 points

Question 25

  1. The outdoor clothing company Patagonia, Inc. pledges one percent of the company’s annual revenue to environmental causes around the world. Founders of the company believe they have an obligation to contribute to society. This is an example of

/ a. / social responsibility.
/ b. / ethical relativity.
/ c. / moral responsibility.
/ d. / self-motivated ethics.

2 points

Question 26

  1. _____ focuses on business contributions to the community through the actions of the business itself rather than donations of money and time.

/ a. / Cause-related marketing
/ b. / Corporate philanthropy
/ c. / Middle management
/ d. / Corporate responsibility

2 points

Question 27

  1. Firms that participate in cause-related marketing

/ a. / often find that such programs help build their brands and increase sales.
/ b. / usually can take advantage of significant tax deductions.
/ c. / usually find that benefits fall short of costs but pursue these efforts anyway.
/ d. / do so primarily to avoid increased government regulation of their activities.

2 points

Question 28

  1. Which of the following actions best demonstrates the practice of corporate responsibility?

/ a. / A company gives its employees paid time off to work for nonprofits.
/ b. / The CEO of a corporation announces that his company has increased its profit margin to investors for the sixth straight year.
/ c. / A company changes its business practices to serve its low-income customers better .
/ d. / A company donates $10,000 to a local charity.

2 points

Question 29

  1. In regard to sustainability, which scenario is the most ethical?

/ a. / Green is in, and people are clamoring for all things environmentally responsible. Oil companies, if they know what is good for them, ought to find ways to transition to other technologies or face backlash from consumers who will simply refuse to buy gas anymore.
/ b. / The government should draft new aggressive regulations that allow for tighter controls on businesses and how they impact the environment. Global warming is a frightening reality, and only government can solve the crisis.
/ c. / Companies should be proactive in how their operations could impact all stakeholders, environmental concerns included.
/ d. / Environmental concerns dealing with carbon footprint and global warming ought to take precedence over profitability, even if the company goes out of business—gross polluters will be weeded out this way, and run out of business for good.

2 points