1.All of the following statements are true EXCEPT:

a.Successful business seek to meet their social and ethical responsibilities

b.Business is the economic pulse of a nation

c.Business includes nonprofit organizations that provide goods and services

d.Business provided goods and services necessary to an economy system

2.____ refers to a government's program for controlling the amount of money in circulation.

a.Monetary policy

b.Microeconomics

c.Fiscal policy

d.Economical control

3.The ____ created the world's largest free-trade zone.

a.North American Free trade Agreement

b.Central American-Dominican Republic Tree Trade Agreement

c.European Union

d.World Trade Organization

4.Jake's family business sells and installs tile in bathrooms and kitchens. He is convinced that heater coils under bathroom floor tiles is the best thing since sliced bread. In his effort to avoid domestic competition, he sets his sights on the vast Chinese market. Much to his surprise, most Chinese people do not yet have indoor plumbing and are accustomed to government-run communal baths. Jake realizes that his global marketing effort is hampered by:

a.legal and regulatory constraints

b.cultural constraints

c.physical and environmental constraints

d.the floating exchange rate