BUS 102 Part One Quiz

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BUS 102 Part One Quiz
1. More efficient distribution systems around the world have led to:

A. increased world trade.
B. decreased world trade.
C. decreased international competition.
D. reduced standards of living around the world.
2. Your local newspaper has a story in its business section that reports that government spending will again exceed tax revenues. This means that the:

A. national debt will increase.
B. balance of payments will experience yet another deficit.
C. rate of inflation is likely to fall.
D. monetary policies pursued by the Fed have been too loose.
3. When corruption is present in the business environment of a country: A. leaders can threaten competitors and minimize competition.
B. factories
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a purely capitalist approach to achieve its economic goals, and is likely to continue doing so in the future.
B. a purely socialist approach to achieve its economics goals, and is likely to continue doing so in the future.
C. a predominately socialist approach to achieving economic goals, but the current pressures it faces suggest it is likely to adopt a more capitalist approach in the future.
D. a predominately capitalist approach toward achieving economic goals, but the current pressures it faces suggest it is likely to adopt a more socialist approach in the future. 13. Business relationships often present ethical dilemmas that are:

A. not easily resolved.
B. easily resolved by following the relevant laws.
C. best resolved by creating a win-lose situation.
D. irrelevant and therefore require no action. 14. The value of goods imported into France exceeds the value of French exports. This indicates that France: A. will experience an exchange rate decrease.
B. utilizes high tariffs.
C. will incur a budget deficit.
D. has a balance of trade deficit. 15. Which theory states that a nation should produce and sell goods to other countries that it produces most efficiently, and buy goods produced more efficiently by other countries?

A. comparative advantage.
B. absolute advantage.
C. mercantilism.
D. bilateral advantage.

16. Using contract manufacturing as a strategy to reach global markets offers firms the

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