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15) A country's consumption possibilities frontier can be outside

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15) A country's consumption possibilities frontier can be outside its production possibilities frontier if __________. A. the citizens of the country have a greater desire to consume goods and services than do the citizens of other countries B. the country engages in trade C. the country imports more than it exports D. the country’s technology is superior to the technologies of other countries 58) Computer support is greatest for which of the following problems? A. Unstructured and operational control B. Structured and operational control C. Semistructured and strategic planning D. Semistructured and management control E. Structured and management control 59) Which of the following are not provided by digital dashboards? A. Transaction processing B. Status access C. Drill down D. Key performance indicators E. Exception reporting 60) Geocoding is __________. A. encrypting spatial information B. accessing geographical information C. integrating maps with spatially oriented databases and other databases D. integrating organizational transactions with spatially oriented databases E. programming spatially oriented databases 61) International Game Technology’s new ERP system produced all of the following benefits except: A. Company was able to maintain its original business processes B. ERP system connected the company’s global operations C. Integrated the company’s business functions D. The company gained flexibility in manufacturing products E. Operations employees were able to access manufacturing process details at their workstations 62) Credit card companies would most likely use which of the following to check for fraudulent credit card use? A. Data mining B. Expert systems C. Neural networks D. Multidimensional data analysis E. Structured query language 63) Which of the following is most consistent with the hedging principle in working capital management? A. Fixed assets should be financed with short-term notes payable. B. Inventory should be financed with preferred stock. C. Accounts receivable should be financed with short-term lines of credit. D. Borrow on a floating rate basis to finance investments in permanent assets. 64) What is the yield to maturity of a nine-year bond that pays a coupon rate of 20% per year, has a $1,000 par value, and is currently priced at $1,407? Round your answer to the nearest whole percent and assume annual coupon payments. A. 14% B. 5% C. 12% D. 11% 65) Forward rates are quoted: A. in an indirect form B. daily C. in direct form and at a premium or discount D. by the FDIC E. on financial statements 66) Petrified Forest Skin Care, Inc. pays an annual perpetual dividend of $1.70 per share. If the stock is currently selling for $21.25 per share, what is the expected rate of return on this stock? A. 8.0% B. 36.13% C. 13.6% D. 12.5% 67) Which of the following best XXXXXXXXXX XXXXXXXXX income? A. Income from capital gains B. Income after financing activities C. Income from discontinued operations D. Earnings before interest and taxes 68) A stock with a beta greater than 1.0 has returns that are _____ volatile than the market, and a stock with a beta of less than 1.0 exhibits returns which are _____ volatile than those of the market portfolio. A. less, more B. more, more C. less, less D. more, less 69) Dublin International Corporation’s marginal tax rate is 40%. It can issue three-year bonds with a coupon rate of 8.5% and par value of $1,000. The bonds can be sold now at a price of $938.90 each. The underwriters will charge $23 per bond in flotation costs. Determine the appropriate after-tax cost of debt for Dublin International to use in a capital budgeting analysis. A. 6.0% B. 4.5% C. 7.2% D. 5.2% 70) Exchange rate risk: A. has been phased out due to recent international legislation. B. arises from the fact that the spot exchange rate on a future date is a random variable. C. doesn’t affect trades made in US Dollars. D. applies only to certain types of domestic businesses. 71) Which of the following best XXXXXXXXXX XXX stream of income that is available to common stockholders? A. Gross profit B. Net profit after tax and after preferred dividend payments C. Operating profit D. Earnings before interest and taxes 72) Your company is considering an investment in a project which would require an initial outlay of $300,000 and produce expected cash flows in Years 1 through 5 of $87,385 per year. You have determined that the current after-tax cost of the firm’s capital (required rate of return) for each source of financing is as follows: Cost of debt 8% Cost of preferred stock 12% Cost of common stock 16% Long-term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. What is the net present value of this project? A. $1,241 B. $463 C. $1,568 D. $871 73) At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years? A. 7% B. 6% C. 8% D. 5% 74) Bondholders have a priority claim on assets ahead of: A. investors B. common and preferred stockholders. C. creditors. D. shareholders. 75) Suppose you determine that the NPV of a project is $1,525,855. What does that mean? A. Under all conditions, the project’s payback would be less than the profitability index. B. In all cases, investing in this project would be better than investing in a project that has an NPV of $850,000. C. The project’s IRR would have to be 76) Marketing: A. is only propaganda. B. creates materialistic values which did not exist before. C. not important if you have a good product. D. turns consumers into puppets. E. reflects existing social values in the short run--while reinforcing these values in the long run. 77) A cluster analysis of the "toothpaste market" would probably show that: A. different market segments seek different product benefits. B. the broad product-market can be served effectively with one marketing mix. C. most consumers are concerned about cost. D. most consumers are mainly concerned about brightness of teeth. E. factors such as taste, price, and "sex appeal" are not important. 78) Which of the following is a business or organizational customer? A. a government agency. B. producers of goods or services. C. All of these are business and organizational customers. D. a retailer. E. a wholesaler. 79) A firm's "marketing mix" decision areas would NOT include: A. Product. B. Promotion. C. Place. D. People. E. Price. 80) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as: A. production is to marketing. B. branding is to pricing. C. store location is to sales force selection. D. pricing is to promotion. E. personal selling is to mass selling. 81) Economists' economic-buyer theory assumes that __________. A. buyers logically compare choices in order to maximize their satisfaction B. demographic data are very useful for predicting consumer behavior C. consumers should purchase only low-priced products D. consumers only want the cheapest price E. consumers always make rational decisions 82) The clustering techniques that can be used in segmenting: A. group people together into heterogeneous product-market segments. B. eliminate the need for management intuition and judgment. C. try to find similar patterns within sets of data. D. looks for differences between groups of people. E. group people together based on age. 83) The "four Ps" of a marketing mix are: A. Production, Personnel, Price, and Physical Distribution B. Promotion, Production, Price, and People C. Potential customers, Product, Price, and Personal Selling D. Product, Price, Promotion, and Profit E. Product, Place, Promotion, and Price 84) "Marketing strategy planning" means: A. finding attractive opportunities and selecting a target market. B. finding attractive opportunities and developing profitable marketing strategies. C. selecting an attractive target market. D. selecting a target market and developing a marketing strategy. E. selecting an attractive marketing mix. 85) When doing "positioning," a marketing manager should: A. focus on specific product features of all generic competitors. B. avoid targeting strategies. C. rely on how customers think about proposed and/or existing brands in a market. D. exclusively use focus groups. E. plan physical product changes rather than image changes. 86) Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that: A. income tends to be evenly distributed among consumers in most countries. B. GDP measures show people's tendency to buy particular products. C. GDP estimates may not be very accurate for very different cultures and economies. D. Other countries most likely don’t use the US Dollar as their primary currency. E. GDP measures show the degree of competition in a market. 87) The difference between target marketing and mass marketing is that target marketing: A. focuses on short-run objectives, while mass marketing focuses on long-run objectives. B. means focusing on a small market. C. focuses on specific customers, while mass marketing aims at an entire market. D. aims at increased sales, while mass marketing focuses on increased profits. E. does not rely on e-commerce but mass marketing does. 88) Justin was hired in February of 2004 as a salesperson. There is no written employment contract, and Justin is paid on a commission basis. Justin’s manager has said to Justin on several occasions that if Justin continues to meet his sales quotas, that the company “will keep him around for a long time.” Justin has always met his sales quotas, but is told one day that they have decided to replace him because he does not project the image that the company wants. If Justin is an at-will employee, which of the following is true? A. Because there is no written employment contract, the employer can terminate Justin. B. As an at will employee, there are no restrictions on the employer terminating Justin. C. The employer can terminate Justin only if the employer would suffer a loss by not terminating him. D. The employer would not be able to fire Justin on the basis of public policy. E. The statements by the manager could likely give Justin contract rights that could amount to an exception to the at-will doctrine. 89) Which of the following is true about the Sherman Act? A. Liability under Section 1 for restraint of trade requires agreement with another party, but liability under Section 2 for monopolization does not. B. Liability under Section 2 for monopolization requires agreement with another party, but liability under Section 1 for restraint of trade does not. C. Liability under either Section 1 or Section 2 requires agreement with another party. D. A business can be liable under either Section 1 or Section 2 without any agreement with another party. 90) Overtime pay is required to be paid to nonexempt employees who work: A. Over 10 hours per day. B. Over 8 hours per day. C. Over 12 hours per day. D. Over 50 hours per week. E. Over 40 hours per week. 91) Which of the following activities by an administrative agency requires public notice and participation? A. Substantive rule making and interpretive rule making only. B. Substantive rule making only. C. Substantive rule making and statements of policy only. D. Substantive rule making, interpretive rule making, and statements of policy. E. Statements of policy only. 92) Which of the following is correct about litigating commercial disputes? A. Commercial disputes, because of their specialized nature, are first heard at the appellate court level. B. Nearly all states have specialized trial courts that hear commercial disputes. C. A few states have established specialized trial courts for commercial disputes. D. In all states, commercial disputes must be heard in a limited-jurisdiction court. E. Businesses generally dislike the concept of specialized trail courts for commercial disputes because the large numbers of consumers who sue businesses in these courts have led the judges to become generally biased against business. 16) Institutions in the economy that help to match one person's saving with another person's investment are collectively called the __________. A. banking system B. monetary system C. financial system D. Federal Reserve system 17) The price of a good that prevails in a world market is called the A. relative price. B. comparative price. C. world price. D. absolute price. 18) Lekeisha's income exceeds her expenditures. Lekeisha is a __________. A. saver who supplies money to the financial system B. borrower who demands money from the financial system C. borrower who supplies money to the financial system D. saver who demands money from the financial system 19) To move the allocation of resources closer to the social optimum, policymakers should typically try to induce firms in an oligopoly to __________. A. form various degrees of cartels B. compete rather than cooperate with each other C. cooperate rather than compete with each other D. collude with each other 20) There are two types of markets in which firms face some competition yet are still able to have some control over the prices of their products. The names given to these market structures are __________. A. duopoly and triopoly B. perfect competition and monopolistic competition C. duopoly and imperfect competition D. monopolistic competition and oligopoly 21) In computing GDP, market prices are used to value final goods and services because __________. A. market prices do not change much over time, so it is easy to make comparisons between years B. if market prices are out of line with how people value goods, the government sets price ceilings and price floors C. Market prices are not used in computing GDP D. market prices reflect the values of goods and services 22) Which of the following is not correct? A. In 2005, the U.S. government had a deficit. B. Deficits give people the opportunity to consume at the expense of their children, but they do not require them to do so. C. A potential cost of deficits is that they reduce national saving, thereby reducing growth of the capital stock and output growth. D. The U.S. debt per-person is large compared with average lifetime income. 23) Over the past two decades, the United States has __________. A. persistently had a trade surplus. B. had trade deficits in about as many years as it has trade surpluses. C. generally had, or been very near to a trade balance. D. persistently had a trade deficit. 24) Which of the following statements about GDP is correct? A. Nominal GDP consistently underestimates the value of production, whereas real GDP consistently overestimates the value of production. B. Nominal GDP values production at constant prices, whereas real GDP values production at current prices. C. Nominal GDP values production at current prices, whereas real GDP values production at constant prices. D. Nominal GDP values production at market prices, whereas real GDP values production at the cost of the resources used in the production process. 25) In the open-economy macroeconomic model, other things the same, a decrease in the interest rate shifts __________. A. the supply of dollars in the market for foreign-currency exchange to the left B. the demand for dollars in the market for foreign-currency exchange to the left C. the demand for dollars in the market for foreign-currency exchange to the right D. the supply of dollars in the market for foreign-currency exchange to the right 26) Many U.S. business leaders argue that the current state of U.S. net exports is the result of __________. A. unfair foreign competition. B. free trade policies of foreign governments. C. U.S. export subsidies. D. unproductive U.S. workers. 27) The open-economy macroeconomic model includes __________. A. neither the market for loanable funds or the market for foreign-currency exchange B. only the market for foreign-currency exchange C. only the market for loanable funds D. both the market for loanable funds and the market for foreign-currency exchange 28) One of the most important contributors to total quality management has been the introduction of statistical tools to analyze the causes of product defects in an approach called: A. Organic B. Total quality integration C. ISO 9000 D. Six Sigma Quality E. Mechanistic 29) The areas described in the text as the most dominant in the global economy include: A. North America, Mexico and Asia B. North America, South America and Western Europe C. North America, Western Europe and Asia D. North America, Asia and Africa E. Western Europe, Asia and Africa 30) Which of these represent skills that managers need? A. Technical, interpersonal & communication and conceptual & decision making B. Professional, technical and interpersonal & communication C. Interpersonal & communication, conceptual & decision making and professional D. Conceptual & decision making, professional and technical E. Interpersonal, quantitative, and professional 31) As related to managing of human resources, diversity refers to: A. Differences in recruiting methods (such as newspapers, schools, flyers, magazines, agencies, etc.) B. Differences in demographics (such as age, race, gender, disability status, lifestyle, veteran status, educational level, etc.) C. Differences in employee benefit plans (such as pensions, insurance, vacations, memberships, etc.) D. Differences in pay methods (such as hourly, salaried, overtime, hazard-pay, commissioned, etc.) E. Differences in retention strategies (such as training, hiring, incentives, etc) 32) An organization that is managed aggressively and has growth and high profits as primary objectives may be considered a(n): A. Large corporation B. Small business C. Multinational corporation D. Entrepreneurship venture E. Online Business 33) Which of the following has proven to be a particularly good predictor for jobs that require cognitive complexity? A. integrity evaluations B. work sampling C. intelligence tests D. aptitude tests E. behavioral assessment 34) When a company establishes technology leadership by pioneering unique products or services that command premium prices, it has benefited from a: A. High-price strategy B. Low-cost strategy C. High-cost strategy D. Diversification strategy E. Differentiation strategy 35) Which of the following statements does NOT support Total Quality Management? A. Break down barriers among departments B. Build long-term relationships instead of awarding business on price tag alone C. Strive for long-term improvement rather than short-term profit D. Use numerical quotas E. Creating silos between departments 36) Which of these refers to the practices aimed at discovering and harnessing an organization's intellectual resources? A. Knowledge management B. Innovation C. Collaboration D. Competitiveness E. Effectiveness 37) Having individuals actually do the job they are applying for as a test to see if they can do it is __________. A. an approach with high face validity B. an informal means of screening candidates C. an approach with low reliability D. an approach with high reliability E. a formal means of screening candidates 38) Managers will utilize __________ skills with increasing frequency as they rise within an organization. A. Interpersonal and communication B. Technical C. Conceptual and decision D. Professional E. Professional 39) A leader is: A. Someone who influences others to attain goals B. The top level manager in a firm or business C. A strategic level manager D. Someone well-respected by others E. Someone with authority over others 40) Which of these describes a vision, as it pertains to leadership? A. Likely to land you in a padded room B. A mental image of a future state of an organization C. The method through which leaders achieve goals D. A short-term goal of an organization E. A long-term goal of an organization 41) ABC International carefully watches the actions of its most innovative competitor and learns from them. ABC can establish a low-cost position by: A. Mass-producing products that have an established market niche B. Producing an imitation of the new technology that utilizes lower-quality and lower-cost materials C. Learning from the leader thereby avoiding the costs and risks of technology leadership D. Technology followers are not successful at low-cost strategies E. Making subtle changes to the product, thereby avoiding patent restrictions 42) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income. Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with Y = number of robberies in each city (thousands of robberies) and X = size of police force in each city (thousands of police)? A. Autocorrelation. B. No correlation. C. High R2 (due to city size). D. Positive slope (due to city size). 43) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income. Assuming b1 is significant, if Income decreases by 1000 we would predict that Crime will __________. A. increase by 428 B. none of these are correct C. increase by 50 D. increase by 500 44) Use the following table to answer question: P(M A) is approximately _____. A. .25 B. .125 C. .50 D. .625 45) Thirty patients are selected from a filing cabinet containing 812 patient folders by choosing every 27th patient folder. Which sampling method is this? A. Simple random sample B. Cluster sample C. Systematic sample D. Stratified sample 46) Jolly Blue Giant Health Insurance (JBGHI) is concerned about rising lab test costs and would like to know what proportion of the positive lab tests for prostate cancer are actually proven correct through subsequent biopsy. JBGHI demands a sample large enough to ensure an error of ± 2% with 90% confidence. What is the necessary sample size? A. 2,401 B. 609 C. 1,692 D. 1,604 47) William used a sample of 68 U.S. cities to estimate the relationship between Crime (annual property crimes per 100,000 persons) and Income (median income per capita). His estimated regression equation was Crime = 428 + .050 Income. From this information, we can conclude that __________. A. the slope is not significantly different from zero B. none of these are correct C. crime creates additional income in a city D. wealthy individuals tend to commit more crimes 48) In lean systems, if a defective product is found, which of the following is generally NOT done? A. The production line is made aware of the problem without stopping the line. B. The production line is stopped. C. The defective unit is returned to the worker responsible for creating the defect. D. The defective unit is passed on to the next workstation. 49) Theoretically, service capacity must exceed demand, lest queues become infinitely long. If capacity does not exceed demand, what is likely to happen? A. All of these B. Customers will renege or balk, thereby reducing demand. C. Servers will eliminate time-consuming portions of their jobs, thereby increasing capacity. D. Servers will decrease time spent per customer, thereby increasing capacity. 50) Suppose the estimated quadratic model Yt = 500 + 20 t - t2 is the best-fitting trend of sales of XYZ Inc. using data for the past twenty years (t = 1, 2,.., 20). Which statement is incorrect? A. Latest year sales are no better than in year zero. B. The trend was higher in year 10 than in year 20. C. The turning point would be in period 10. D. Sales are increasing by about 20 units per year. 51) Which one of the following statements concerning production and staffing plans is best? A. Production and staffing plans attempt to achieve several objectives, all of which must be consistent with one another. B. Production and staffing plans specify production rates, workforce levels, and inventory holdings, but do not account for capacity limitations because they are aggregated. C. When production and staffing plans are made, aggregation can be performed only along two dimensions: products and time. D. The impact of production and staffing plans cuts across several functional areas of the firm. 52) A computer analysis reveals that the best-fitting trend model is Yt = 4.12 e 0.987 t. The trend was fitted using year-end common stock prices for Melodic Kortholt Outlet for the last six years. The R2 is 0.8571. If we fit a linear trend to data that are growing exponentially __________. A. at the end of year 3 the stock price would be nearly $80 B. the stock's true intrinsic value is $4.12 C. few investments could match the astounding growth rate D. the absolute annual growth (in dollars per share) is increasing 53) Which of the following are disadvantages of the buy option for acquiring IS applications? A. software may be impossible to modify B. company will not have control over software improvements C. software may not exactly meet the company’s needs D. software may not integrate with existing systems E. all of the these are disadvantages 54) Fundamental points about network computing in organizations include all of the following except: A. Computer data exchange provides significant advantages to organizations B. Networks can be of any size, from small to enormous C. Computers constantly exchange data D. Networks have had limited impact on organizational productivity E. Networks support new ways of doing business 55) Networks enable which of the following applications? A. Communications B. Collaboration C. Discovery D. Web services E. All of the these 56) In the _____ phase of the decision making process, managers test potential solutions “on paper.” A. choice B. design C. implementation D. intelligence E. consideration 57) What is _____ is not necessarily _____. A. Ethical, illegal B. Unethical, illegal C. Illegal, unethical D. Unethical, legal E. Ethical, legal Read more:
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