Final 2023

What type of leader is hands-off and does not make any important decisions?

• laissez-faire
• support
• delegative
• authoritarian

Which of the following is usually created when an effective price ceiling set on a good or service?

• shortage
• surplus
• effective product control
• ineffective product control

What might happen if you put a small white lie on your product's package?

• you might face legal consequences
• customers might be more likely to buy it
• your customers might be more informed
• your customers might be more satisfied with the purchase

What is an appropriate way to make money?

• work hard
• hack accounts
• rob people
• print money

What would be the most likely outcome if “Apple® just announced that China has lifted their tariff on cell phones made in the USA”?

• The supply of Apple® iPhones would increase, and the demand for Apple® iPhones would increase.
• The supply of Apple® iPhones would decrease, and the demand for Apple® iPhones would increase.
• The supply of Apple® iPhones would increase, and the demand for Apple® iPhones would decrease.
• The supply of Apple® iPhones would decrease, and the demand for Apple® iPhones would decrease.

When suppliers reduce prices, they most likely have which of the following?

• have a surplus of products to sell
• have a shortage of products to sell
• want to decrease their stock-market value
• want to increase the product supply

If a tax of $1 per can were to be imposed on the buyers of sugary drinks, the demand for sugary drinks would do what and the price that buyers will have to pay may do what?

• decreases; rises by less than $1 a can
• decreases; rises by more than a $1 a can
• doesn’t change; rises by $1 a can
• doesn’t change; doesn’t change

What factor will have the biggest impact on setting a product's price?

• cost of materials
• cost of packaging
• cost of shipping
• cost of advertising

Which of the following is NOT involved in the cash flow statement?

• assets
• operations
• investment
• financing

What is the net pay for an employee who worked 80 hours at $10 per hour and has $90 deducted due to taxes, social security, and Medicare?

• 710
• 700
• 800
• 810