Western Michigan University

WMU ECON-3200 Money and Banking Final exam review (chapters 1-5,7,11,12) questions with answers

ECON 3200 Final Exam- Quizzes with answers.

The increased use of the Internet presents a lot of potential for which types of businesses? A - All businesses B - Small business owners C - International businesses D - Local businesses - Answer A - All businesses Taking a business online can involve many different steps. When starting out, which activity could be a part of this process? A - Sending flyers with your web address to customers B - Creating a business listing in online local directories C - Increasing print and...

an employee was fired for not carrying out an unethical request by his manager. This is an example of - Answer Which of the following is an advantage to being an entrepreneur? - Answer you keep all the profits Which of the following is a disadvantage to owning and operating your own business? - Answer your personal assets can be seized to pay off the business's debts Jessica has a successful career working for a prestigious Fortune 500 company. However, she has dec...

T/F: There is a clear relationship between revenue and net profit margin. - Answer False T/F: Gross profit is always greater than net sales revenue. - Answer False Is money that a customers owe a company considered an asset? - Answer Yes Which of the following are ways that a company can fund operations. - Answer - Selling ownership/shares in the company. - Reinvesting profits. - Borrowing money. Which of the following should a company consider if the gross ...

Gross Margin - Answer = (Op. Rev - Cost of Rev) / Op. Rev Operating Margin - Answer = (Op. Rev - Cost of Rev - Expenses) / Op. Rev Net Profit Margin - Answer = (Op. Income - Interest Expense - Income Tax) / Net Sales Revenue Gross Margin (given price and cost) - Answer = (Price - Cost) / Price Gross Margin (given price and gross margin) - Answer = Price * (2- Gross Margin) Gross Margin (given cost and gross margin) - Answer = Price * (2 - Gross ...

T/F: Differentiation by developing a new product or a product with unique features is an effective strategy to earn higher profits. - Answer True T/F: Money resolved the difficulty of barter, which required trading items of equal value. - Answer True Select all items below that threaten the long-term survival of a company according to Warren Buffett. - Answer - complacency in responding to the changing business environment - bureaucracy that slows efforts to develop new...

Given the following Income Statement Information: Consolidated Income Statement - USD ($) $ in Millions Operating Revenue: $ 15,016 Cost of Revenue: $ 8,457 What is the Gross Margin for this company, expressed as a percentage? - Answer 43.7 Given the following Income Statement Information: Consolidated Income Statement - USD ($) $ in Millions Operating Revenue: $ 19,283 Cost of Revenue: $ 8,499 General & Admin: $1,869 Selling Expense: $1,190 Depreciation Exp. $1,262 W...

Because all governments restrict businesses in some way (such as regulating pollution and enforcing safety regulations), there is no completely free economic system in the world - Answer True In the United States, the Sherman Anti-trust act protects consumers from the development of monopolies - Answer True It is difficult to launch a small business and have it be successful, but large, established companies rarely fail - Answer False On average, nearly half of all new...

Marketing Mix - Answer Product, Price, Place, Promotion Marketing concept - Answer A three-part business philosophy: (1) a customer orientation, (2) a service orientation, and (3) a profit orientation Marketing manager responsibilities - Answer Market segmentation - Answer The process of dividing the total market into groups whose members have similar characteristics. Focus groups - Answer A small group of people who meet under the direction of a discus...