Choose the correct answer

1) Managers are focused on using resources, including people,

a. economically and politically

b. cheaply and quickly

c. effectively and efficiently

d. fully and completely

2) Which of the following would not shift the demand curve for candles?

a. A viral about the dangers of open flame in the home

b. An effective advertising campaign by incense manufacturers

c. A change in the incomes of candle buyers

d. A reduction in the price of wax

3) f a gas-exporting country cuts off the supply of gas to another country, what would happen to the supply/demand curve

a. The demand curve would shift to the right

b. The demand curve would shift to the left

c. The supply curve would shift to the left

d. There would be no change

4) A few things happened during the pandemic. Some hotels went out of business altogether or have fewer workers available. Additionally, those at the middle and upper end of the net worth spectrum tended to forgo travel, save money, and have more discretionary funds available. They are now excitedly trying to use these funds to travel, a lot.

5) This means that the supply of hotels went ________ and the demand for hotels went _____________, so the price of hotels went

6) Ireland is likely not part of the Global Minimum Tax effort because

a. Ireland has a very low corporate tax rate right now, which serves to bring in business

b. Ireland has a very high corporate tax rate right now, which serves to bring in lots of money

c. Ireland has a very low personal tax rate and doesn't want to raise it

d. The Global Minimum Tax effort bans scotch production

7) Why are most businesses sole proprietorships?

a. The name sounds cool

b. To be like other big businesses such as Amazon

c. To limit personal liability

d. They are easiest to set up

8) Small firms represent _____ of all firms

a. most

b. very few.

c. all

9) What is a characteristic of a corporation?

a. One owner

b. Not regulated by the government

c. Has stocks and shareholders

d. All workers get Sunday off

10) Which is the best definition of economies of scale

a. As expenses go up, profit goes up

b. The cost per unit goes up as the number of units produced goes up

c. As the number of units manufactured and sold goes up, costs go down

d. Unit cost goes down as revenue goes down

11) Imagine you own a company that makes bike tires. Which of these is an example of horizontal integration?

a. Buying a bike retail store

b. Planting rubber trees

c. Starting to sell scooter tires

d. Selling stock

12) If Bob owns a T-Shirt business, what is his debt with his cotton company supplier considered?

a. Asset

b. Equity

c. Revenue

d. Liability

13) Theincome statementis a financial report that shows an organization's profitability over a period of time, be that a month, quarter, or year.

a. True

b. False

14) The market cap valuation method is not as useful for start-ups because...

a. They haven't released ESG reports yet

b. Their revenue multiplier is a guess

c. Their expenses vary

d. Most have not yet issued stock

15) Which data would you not need to calculate a company's value based on assets?

a. Inventory

b. Outstanding loans

c. Industry

d. Value of owned buildings

16) Which of these is not a reasonable criticism of ESG?

a. It lumps together things that can feel unrelated or at odds

b. Values should not be a factor in investing

c. It's ratings are inconsistent

d. Companies can find ways to increase their rating without actually being more sustainable

17) Which of these is not a factor in a business's profit calculation

a. Sales revenue

b. Fixed costs

c. Brand equity

d. Variable costs

18) Company A has a stock price of $10 and Company B has a stock price of $20. Which company is worth more?

a. Company A

b. Company B

c. Need more information

19) Which data would you not need to calculate a company's value based on revenue multiple?

a. Revenue

b. Outstanding loans

c. Industry

20) If you believe it's the outcome that matters, you are probably most interested in

a. ethics

b. equity

c. deontology

d. equality

21) Which is not a reason Federal Reserve policies have international effects?

a. Fed policies can effect exchange rates

b. Some countries allow the Fed to decide for them

c. Many US dollars circulate abroad

d. Some countries peg their currency to the US dollar

22) Which of these characteristics of money is not a concern with bitcoins and digital currencies?

a. Acceptability

b. Stability

c. Portability

23) OPEC is a _______ that has a(n) __________ in oil production.

24) A country can only be in a trade agreement with one other country

a. True

b. False

25) Country A places an embargo on Country B, even though Country B supplies most of its microchips. Which would describe the result to the supply/demand curve?

Supply ________ Demand _______ Prices _______

26) Inflation calls into question the _______ function of money

a. medium of exchange

b. store of value

c. portability