Business 100 Final Exam Study Guide
Question and answers correctly solved
The total market value of all good and services produced within a nation's
borders each year? - correct answer Gross Domestic Product
The subarea of economics that focuses on the economy as a whole by
looking at aggregate data for large groups of people, companies, or products.
- correct answer Macroeconomics
The Central Bank of the United States. - correct answer The Federal Reserve
Bank
As reviewed in the lecture notes, a conceptual model of the cost of doing
business indicates that it is ___ times more costly to do business with a new
customer vs. an existing customer. - correct answer Five
An index of the prices of a "market basket" of goods and services purchased
by typical urban consumers and is used to measure inflation in the United
States. - correct answer Consumer Price Index (CPI)
Which government policy is managed by the Federal Reserve Bank for
controlling the amount of money circulating in the economy and interest rates.
- correct answer Monetary Policy
The government's use of taxation and spending to affect the economy. -
correct answer Fiscal Policy
A part of the economic cycle that is defined by two consecutive quarters (or
more) of declining GDP. - correct answer Recession
, An economic system based on competition in the marketplace and private
ownership of the factors of production (resources). - correct answer Free
Market Economy,
Capitalism,
and Private Enterprise System
What is the Annual GDP of the United States currently? (select best answer) -
correct answer $21 Trillion
Stakeholders of a business refers to the following (select all that apply): -
correct answer Investors of the business, Owners of the business,
Employees of the business, Customers of the business
The set of guidelines by a firm to provide employees with the knowledge of
what the firm expects in terms of their responsibilities and behavior toward
fellow employees, customers, and suppliers. - correct answer Code of
conduct (ethics)
When company ABC, Inc. donates money and employee time to areas of
need within their community (e.g., schools, homeless shelters, etc.) they are
demonstrating __________. (select all that apply) - correct answer support of
a socioeconomic model for their business, Corporate Social Responsibility
To measure social responsibility, some companies measure the "triple bottom
line" includes: - correct answer People, Planet, Profits
If an employee has a position of oversight or authority that enables them to
make unfair decisions for personal gain, at the expense of the company or
organization, that employee may have a __________. - correct answer
Conflict of interest
Question and answers correctly solved
The total market value of all good and services produced within a nation's
borders each year? - correct answer Gross Domestic Product
The subarea of economics that focuses on the economy as a whole by
looking at aggregate data for large groups of people, companies, or products.
- correct answer Macroeconomics
The Central Bank of the United States. - correct answer The Federal Reserve
Bank
As reviewed in the lecture notes, a conceptual model of the cost of doing
business indicates that it is ___ times more costly to do business with a new
customer vs. an existing customer. - correct answer Five
An index of the prices of a "market basket" of goods and services purchased
by typical urban consumers and is used to measure inflation in the United
States. - correct answer Consumer Price Index (CPI)
Which government policy is managed by the Federal Reserve Bank for
controlling the amount of money circulating in the economy and interest rates.
- correct answer Monetary Policy
The government's use of taxation and spending to affect the economy. -
correct answer Fiscal Policy
A part of the economic cycle that is defined by two consecutive quarters (or
more) of declining GDP. - correct answer Recession
, An economic system based on competition in the marketplace and private
ownership of the factors of production (resources). - correct answer Free
Market Economy,
Capitalism,
and Private Enterprise System
What is the Annual GDP of the United States currently? (select best answer) -
correct answer $21 Trillion
Stakeholders of a business refers to the following (select all that apply): -
correct answer Investors of the business, Owners of the business,
Employees of the business, Customers of the business
The set of guidelines by a firm to provide employees with the knowledge of
what the firm expects in terms of their responsibilities and behavior toward
fellow employees, customers, and suppliers. - correct answer Code of
conduct (ethics)
When company ABC, Inc. donates money and employee time to areas of
need within their community (e.g., schools, homeless shelters, etc.) they are
demonstrating __________. (select all that apply) - correct answer support of
a socioeconomic model for their business, Corporate Social Responsibility
To measure social responsibility, some companies measure the "triple bottom
line" includes: - correct answer People, Planet, Profits
If an employee has a position of oversight or authority that enables them to
make unfair decisions for personal gain, at the expense of the company or
organization, that employee may have a __________. - correct answer
Conflict of interest
