Test Submission: Chapter 2 & 3 Quiz – 2023 Fall Term (1) Fundamentals of Business BA

  • Question 1

    10 out of 10 points

    Correct

    A guide to acceptable and ethical behavior is known as
    Selected Answer:
    A.

    a code of ethics
    Answers:
    A.

    a code of ethics
    B.

    a social audit
    C.

    business ethics
    D.

    consumerism

  • Question 2

    10 out of 10 points

    Correct

    An employee’s decision to inform the press or government officials of his or her firm’s unethical practices is referred to as
    Selected Answer:
    A.

    whistle-blowing

    Answers:
    A.

    whistle-blowing

    B.

    the economic model
    C.

    the corporate code of ethics
    D.

    globalization

  • Question 3

    10 out of 10 points

    Correct

    The belief that businesses should emphasize not only profits but also the impact of its decisions on society is consistent with

    Selected Answer:
    B.

    a socioeconomic model of social responsibility
    Answers:
    A.

    anti-consumer model
    B.

    a socioeconomic model of social responsibility
    C.

    original business model approach
    D.

    economic model of social responsibility

  • Question 4

    10 out of 10 points

    Correct

    What are business ethics?
    Selected Answer:
    C.

    The application of moral standards to business situations.
    Answers:
    A.

    They are the same as personal ethics.
    B.

    There is no such thing.
    C.

    The application of moral standards to business situations.
    D.

    Ethics to help the company make money.

  • Question 5

    10 out of 10 points

    Correct

    What is the Equal Employment Opportunity Commission (EEOC)?
    Selected Answer:
    D.

    A government agency with the power to investigate complaints of employment discrimination and the power to sue firms that practice it.
    Answers:
    A.

    Workers with little education or vocational training and a long history of unemployment.
    B.

    A private organization with the power to investigate complaints of employment discrimination and the power to sue government agencies that practice it.
    C.

    A plan designed to increase the number of minority employees at all levels within an organization.
    D.

    A government agency with the power to investigate complaints of employment discrimination and the power to sue firms that practice it.

  • Question 6

    10 out of 10 points

    Correct

    The selling and shipping of raw materials or products to other nations is called:
    Selected Answer:
    D.

    exporting
    Answers:
    A.

    balance of payments
    B.

    balance of trade
    C.

    importing
    D.

    exporting

  • Question 7

    10 out of 10 points

    Correct

    A type of trade restriction that limits the amount of a particular good that may be imported into a country during a given period of time is:
    Selected Answer:
    C.

    an import quota
    Answers:
    A.

    an embargo
    B.

    a tariff
    C.

    an import quota
    D.

    foreign-exchange control

  • Question 8

    10 out of 10 points

    Correct

    A reduction of the value of a nation’s currency relative to the currencies of other countries is called
    Selected Answer:
    C.

    currency devaluation
    Answers:
    A.

    an embargo
    B.

    currency reduction
    C.

    currency devaluation
    D.

    a quota

  • Question 9

    10 out of 10 points

    Correct

    If a country imports more than it exports, it is likely to have a:
    Selected Answer:
    D.

    a trade deficit

    Answers:
    A.

    an exporting surplus
    B.

    trade surplus
    C.

    a favorable balance of trade
    D.

    a trade deficit

  • Question 10

    10 out of 10 points

    Correct

    An international bank that makes short-term loans to countries experiencing balance-of-payments deficits is the:
    Selected Answer:
    A.

    International Monetary Fund
    Answers:
    A.

    International Monetary Fund
    B.

    NAFTA
    C.

    World Trade Organization

    D.

    Bank of America

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