Which of the following is NOT a strategic alternative to laying off employees?
answer
implementing a restricted hiring policy
downsizing the workforce
lowering employment standards
mandating reduced hours
Lowering Employment Standards
question
KJ built his taco truck out of $75,000,000 worth of titanium and duct tape. He uses $10.25 of organic bok choy, $6.75 of Wisconsin cheddar cheese, and $25.25 of foie gras in each taco. If he sells tacos at $475 each, what is his break-even quantity?
TC = TFC + TVC
ATC = AFC + AVC
AFC = TFC divided by Q
MC = TC divided by Q
AFC = TFC divided by Q
question
The ratio that explains how efficiently companies use their assets to generate revenue.
answer
Receivables turnover ratio
Asset turnover ratio
Income ratio
Quick ratio
Asset Turnover Ratio
question
The sum of the squares total (SST)
answer
measures the total variability in X about the mean.
measures the total variability in Y about the mean.
measures the variability in X about the regression line.
measures the variability in Y about the regression line.
Measures the variability in Y about the regression line.
question
This strategy sacrifices responsiveness to local markets in favor of efficiency. Microsoft, for example, offers the same software programs around the world but adjusts the programs to match local languages.
answer
Multinational strategy
Global strategy
Transnational strategy
Multidomestic strategy
Global
question
Another Time Around helps young inner city kids develop products they can make and sell to earn money for college. What concept best describes this?
answer
The marketing mix
Cause marketing
Benevolent advertising
A tax deduction
Corporate charitable marketing
None of the above.
cause marketing
question
Lauren is an HR manager at a marketing firm. Which of the following functions is LEAST likely to be an aspect of Lauren's job?
link computers that are geographically far apart
provide communication services spanning several cities or states
connect various wide area networks in metropolitan areas
integrate services to a single building or campus
integrate services to a single building or campus
question
n June 2015, American steel companies United States Steel Corp., Nucor Corp., Steel Dynamics Inc., ArcelorMittal USA, AK Steel Corp., and California Steel Industries filed a complaint with the Department of Commerce and the ITC alleging that China (and other countries) were selling steel in the U.S. market at prices lower than their own markets. This practice is known as
Repackaging a product currently being sold in a foreign country.
Collecting and destroying products before they contaminate the market for the brand.
The sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter.
Offering a bribe to a foreign official for the purposes of opening markets.
Combining a poorly selling product with a new product.
The sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter.
question
Marginal revenue is equal to:
answer
the change in total revenue associated with a change in quantity.
marginal cost.
the change in total profits associated with a change in quantity.
total revenue divided by its output.
Marginal cost
question
The primary purpose of employer branding is to ________.
answer
promote employee benefits
encourage mentions in social media.
attract quality employees
sell consumer products
attract quality employees
question
The days required for a business to receive inventory, sell the inventory, and collect cash from the sale of the inventory.
answer
Inventory period
Operating cycle
Accounts receivable period
Accounting period
operating cycle
question
Which of the following statements is CORRECT?
answer
Two firms with identical sales and operating costs but with different amounts of debt and tax rates will have different operating incomes by definition.
If a firm is reporting its income in accordance with generally accepted accounting principles, then its net income as reported on the income statement should be equal to its free cash flow.
After-tax operating income is calculated as EBIT(1 - T) + Depreciation.
Free cash flow (FCF) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations.
Free cash flow (FCF) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations.
question
The data component of an information system is:
answer
a set of facts that have been analyzed by the process component
a series of integrated files containing relevant facts
the input to the information system
the output of the information system
a series of integrated files containing relevant facts
In the automobile industry, workers have just negotiated a new contract giving workers a large raise. There has also been an increase in the number of licensed drivers who are in the market for a new car. In the market for new automobiles, the effects that these changes will have on the equilibrium price and quantity include:
answer
price will increase, and quantity will decrease.
price will decrease, and the effect on quantity is indeterminate.
price will decrease, and quantity will increase.
price will increase, and the effect on quantity is indeterminate.
price will increase, and quantity will decrease
question
What is the advantage of foreign direct investment?
answer
Helps in retaining advantage over competition
Reduces transportation costs
Creates a company tailored to a foreign market's characteristics
All of the above
All of the above
question
The contention that tariffs should be imposed when a foreign government provides financial assistance to its producers is:
answer
the infant industry argument.
a national defense concern.
dumping.
to counter foreign subsidies.
the infant industry argument.
question
A new young executive is perplexed at the number of interruptions that occur due to employee relations. She has decided to track the number of interruptions that occur during each hour of her day. Over the last month, she has determined that between 0 and 3 interruptions occur during any given hour of her day. The data is shown below.
number of interruptions - probability
0 interruptions - .4
1 interruptions - .3
2 interruptions - .2
3 interruptions - .1
On average she should expect 1 interruption per hour.
answer
True
False
False
question
_____ is the amount of data that can be transferred from one point to another in one second.
answer
Protocol
Bandwidth
Packet
Latency
Bandwidth
question
The principle of rational choice specifically states that you choose how to spend additional income based on what gives you:
answer
the most total utility for that dollar.
the most average utility for that dollar.
the most marginal utility for that dollar.
the least total utility for that dollar.
the most marginal utility for that dollar
question
Outdoor World has everything any hunter or fisherman could want, all under one roof including a display of hunting trophies and a swimming pool full of bass to test fishing gear. What kind of retailer is Outdoor World?
Jack has the power to give a bonus the employees to achieve a certain level of performance. This is an example of:
answer
Legitimate power
Reward power
Expert power
Referent power
Reward Power
question
The rate of unemployment is calculated as the number of:
answer
unemployed workers divided by the number of employed workers.
people in the civilian labor force divided by the number of unemployed.
employed workers divided by the number of unemployed workers.
unemployed divided by the number of people in the civilian labor force.
unemployed divided by the number of people in the civilian labor force.
question
On a hot summer day, a construction worker enters a McDonald's fast-food restaurant. He orders the first Big Mac. He consumes it within 3 minutes. He then orders a second Big Mac and consumes it in 10 minutes. He eats only half of the third one in 18 minutes and throws away the rest. The store manager offers him the fourth for free. The construction worker says: "No thanks." Why?
answer
For the construction worker, total utility increased at an increasing rate.
Marginal utility increased at an increasing rate.
Marginal utility declined as he consumed additional Big Macs.
The law of diminishing marginal utility does not apply to consumption of Big Macs.
Marginal utility declined as he consumed additional Big Macs.
question
George, a project manager at a publishing firm, is experiencing many stress-related symptoms. What is the best advice an HR manager could give George?
answer
Handle work issues immediately.
Recognize your own limitations.
Keep your problems to yourself.
Focus on making work a priority.
Recognize your own limitations
question
Which of the following is a category or element of the balance sheet?
answer
Liabilities
Losses
Expenses
Gains
Liabilities
question
In the context of the data component of an information system, internal data sources include _____.
answer
economic conditions
personnel records
population statistics
government agencies
Personnel Records
question
According to the hot stove rule, disciplinary action should most likely occur immediately, so that the individual _____.
answer
Share the experience with co-workers
Have time to contact an HR manager
Understand the reason for it
Receive appropriate training opportunities
Understand the reason for it
question
In the context of applications of artificial intelligence (AI), _____ perform well at simple, repetitive tasks and can be used to free workers from tedious or hazardous jobs.
answer
data mining agents
firewalls
robots
electronic trackers
Robots
question
A company has two bonds that are identical except one matures in 5 years and one matures in 10 years. If interest rates fall, what will happen to the price of the bonds?
answer
Both will increase and the 10-year will increase more.
Both will decrease and the 5-year will decrease more.
Both will increase and the 5-year will increase more.
Both will decrease and the 10-year will decrease more.
Both will increase and the 10-year will increase more.
question
Any business activity, which resorts to deceitful practices or devices with the intent to deprive another of property or other rights, or to cause economic injury.
answer
External Fraud
question
Which of these actions would likely result in a lower current ratio?
answer
Holding more stocks to offer better customer service.
Increasing cash by selling excess fixed assets.
Extending the time to pay suppliers
Allowing major customers more time to pay bills.
Extending the time to pay suppliers
question
Dave is developing a social media platform to help Saint Leo students plan events and track attendance. Part of his persona profile includes age, gender and class year. What part of segmentation best describes these factors?
Ellen, as a manager, has always been driven by scheduling, directing group activities, planning, and trying out new ideas. For her, meeting deadlines is critical and she always gives explicit standards of performance. Ellen can be described as high on which of these?
The following is a payoff table giving profits for various situations.
State one: 0.4 / 45 / 16 / 23 / 44
State 2 : 0.35 / 37 / 59 / 65 / 33
State 3 : 0.25 / 83 / 72 / 91 / 55
If a person were to use the expected monetary value criterion, what decision would be made?
answer
Alternative 1
Alternative 2
Alternative 3
Alternative 4
Alternative 3
question
In the long run, the price for a perfectly competitive firm:
answer
will equal the minimum average total cost.
will equal marginal cost where marginal cost is at a minimum.
will allow for positive economic profits.
will be determined by the firm's supply and demand curves.
Will be determined by the firm's supply and demand curves?
question
As an example of this strategy, large fast-food chains such as McDonald's and KFC rely on the same brand names and the same core menu items around the world, but make some concessions to local tastes too.
answer
Global strategy
Multidomestic strategy
Multinational strategy
Transnational strategy
Transnational strategy
question
_______ laws are federal and state statutes and regulations that promote product safety and prohibit abusive, unfair, and deceptive business practices.
The only global international organization focused on negotiating the rules of trade between nations.
None of the above
A clearing house for orders of high tech, highly dangerous products from G-7 countries.
The U.S. agency that coordinates payments for countries in the Western Hemisphere.
A training organization for lesser developed nations seeking to normalize financial agreements.
The only global international organization focused on negotiating the rules of trade between nations.
question
Which of these is not a critical component is designing an advertising campaign
answer
Detailed product information
Appeal type
Target audience
Objective
Message strategy
Detailed product information
question
In a relational database model, a _____ is a field in a relational table that matches the primary key column of another table.
answer
serial key
secondary key
foreign key
domain key
foreign key
question
The ________ was intended to eliminate job discrimination based on race, color, national origin, sex, and religion.
answer
Fair Employment Practices Act
Title VII of the Civil Rights Act of 1964
Lilly Ledbetter Fair Pay Act
Title II of Genetic Information Nondiscrimination Act
Fair employment practices act
question
Which of the following is not a shortcoming of using manager judgment for forecasting availability?
answer
Managers are always overall aggressive in estimating hiring requirements
None of the above are shortcomings of management judgement
The complexity of forecasting may overwhelm the manager
Managers may not know employee intentions
Managers are always overall aggressive in estimating hiring requirements
question
Which of these is typically a characteristic of a sales promotion?
answer
It is advertised via e-media
It requires the consumer to act on the offer in a fixed time
The consumer does not have to buy the product to benefit from the offer
It is a key part of social media marketing
The consumer does not have to buy the product to benefit from the offer
question
A(n) _____ consists of programs that mimic human thought behavior in a specific area that human specialists have solved successfully.
answer
evolutionary model
spiral model
Artificial intelligence system
database system
Artificial intelligence system
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