MGT Midterm

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1.  Due to the rising prices of gasoline, Harleen is looking for a car with better gas milage. She hopes to purchase the newest PReo, an imported car using hybrid technology. But PReos are hard to find because the government in Harleen's country has limited the number of them that can be imported each year. Harleen is witnessing the impact of an _____
A.
B.
C.
D.
2.  In the business cycle, a period in which GDP declines for at least two consecutive quarters and nemployment increases is known as a
A.
B.
C.
D.
3.  When resources are limited, producing omre of one good means producing less of something else. The opportunity cost of producing more of a good is the value given up by not producing the second-best choice
A.
B.
4.  To be admitted into the FCB BUsiness Professional Program Students currently need a GPA of ___ in their lower division business core classes?
A.
B.
C.
D.
5.  In capitalism people strive to raise their standard of living. Businesses contribute to this goal by_____
A.
B.
C.
D.
6.  OAS can help with advising and is in FCB on the second floor in room?
A.
B.
C.
D.
7.  CPI is?
A.
B.
C.
D.
8.  The main economic goal of the government in a socialist economy is to
A.
B.
C.
D.
9.  It is suggested to check ___ at least three times per week for grades, announcements and upcoming events
A.
B.
C.
D.
10.  Judy Haskell said the OAS is not responsible for advising or helping any freshmen because only the Gateway Center is allowed to work with freshmen.
A.
B.
11.  Two Key Phases of the business cycle are
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B.
C.
D.
12.  The guest speaker with the student mentors said teh things mentors do are
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B.
C.
D.
13.  The economy of the united stats is ____ than the economies of China and India
A.
B.
C.
D.
14.  When the total value of exports is higher thy experiences a an the total value of imports, a countr
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B.
C.
D.
15.  ___ is buying products from overseas markets that are manufactures overseas
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B.
C.
D.
16.  A basic characteristic of ____ is that both producers and consumers are free to make their own economic decisions on many basic issues.
A.
B.
C.
D.
17.  The ____ expresses the price of one nation's currency in terms of another nation's currency
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B.
C.
D.
18.  Which of the following would be studied in the greatest detail in a macroeconomics course?
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B.
C.
D.
19.  _____ refers to government efforts to influence the economy through taxation & spending decisions designed to encourage growth, boost employment, and curb inflation
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B.
C.
D.
20.  A ____ is an agreement among two or more teo companies to join forces to pursue specific opportunities without actually merging their operations
A.
B.
C.
D.
21.  How many certificates does the FCB currently offer?
A.
B.
C.
D.
22.  The unemployment rate includes only indiciduals over the age of 21 who were inboluntarily laid off or fired from their previous jobs.
A.
B.
23.  The increasing interdependence of economies around the world means that
A.
B.
C.
D.
24.  Imports and exports enchance international trade, while creating growing opportunities for nations. which of the following is NOT a benefit of global trade?
A.
B.
C.
D.
25.  The FCB has a significant scholarship program for FCB majors in addition to NAU scholarships
A.
B.
26.  Compared to capitalism, in a socialist system we would expect to find
A.
B.
C.
D.
27.  McDonald's is recognized as a universal band with the golden arches having worldwide appeal. The franchises in different countries:
A.
B.
C.
D.
28.  ______ is thmarket structure that is most likely to result in higher prices lower quality and fewer choices for consumers
A.
B.
C.
D.
29.  CDO stands for _____  ______ Office
A.
B.
C.
D.
30.  The economic measure that provides the most information about what is happening to prices fo consumer goods is the
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B.
C.
D.
31.  Suppose the value of the U.S dollar strengthened considerable against the Euro. Who would be most likely to benefit from this result?
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B.
C.
D.
32.  APE stands for _____,Purpose and _____
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B.
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D.
33.  At FCB - Core means?
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B.
C.
D.
34.  The mentors are located in room 108
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B.
35.  International trade provides businesses with access to new customers through
A.
B.
C.
D.
36.  The Degree Progress Report (DPR) is only used for graduation and is not a place to find what catalog year you are under
A.
B.
37.  Key infrastructure challenges to consider when entering a foreign market include
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B.
C.
D.
38.  Which of the following is NOT a fundamental right of capitalism
A.
B.
C.
D.
39.  Our guest speaker from the Career Development OFfice (CDO) said they are responsible for three areas,which is not one of these?
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B.
C.
D.
40.  A balance of trade _____ occurs when a country imports more goods and services than it exports
A.
B.
C.
D.
41.  Key economic factors to consider when entering a foreign market include
A.
B.
C.
D.
42.  OAS stands for ___
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B.
C.
D.
43.  _____ is the most basic level of international market development and involves shipping domestically produced products overseas
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B.
C.
D.
44.  With the fear of Mad Cow Disease, some countries imposed a total ban on imported beef creating an _________
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B.
C.
D.
45.  Bribery and corruption are technically legal in some countries
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B.
46.  The study of economics is divided into two core categories known as
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B.
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D.
47.  Government laws agasint monopolies are
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D.
48.  Market ewuilibrium identifies the price at which quantity supplied is equal to quantity demanded
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B.
49.  ___Occurs when a nation's best and brightest workers leave to pursue better opportunities in other countries
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B.
C.
D.
50.  The three countries participating in the NOrth American free Trade Agreement (NAFTA) are
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B.
C.
D.
51.  Pathway listings can be found on the FCB website under ___
A.
B.
C.
D.
52.  FCB majors and our key areas of study are; Economics, Accounting, CIS and NOT?
A.
B.
C.
D.
53.  The "Business Professional Program (BPP)" is the FCB term for students who qualified for major status
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B.
54.  Honda's construction of automobile assembly plants in the United States is an example of foreign ____ for Honda Corporation
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B.
C.
D.
55.  The urpose of the General Agreement on Tariffs and Trade (GATT) was to
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B.
C.
D.
56.  Foreign licensing involves a domestic firm granting an overseas business the rights to produce and market a product or use a trademark in a defined geographic area
A.
B.
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