Chapter 18
Which of the following is a formal document that states the goals of a business?
A. business plan
B. start-up strategy guide
C. corporate bylaws
D. articles of incorporation
A. business plan
The concept that states the cost of producing one unit of something decreases as the total number of units produced increases is called the _____.
A. balance of trade
B. trade deficit
C. trade surplus
D. economy of scale
D. economy of scale
Approximately how many Americans face food insecurity?
A. 1 in 3
B. 1 in 4
C. 1 in 5
D. 1 in 6
D. 1 in 6
_____ is used to determine eligibility for federal financial aid.
A. The Federal Pell Grant
B. The Free Application for Federal Student Aid (FAFSA)
C. A 529 plan
D. A work-study
B. The Free Application for Federal Student Aid (FAFSA)
Which employment form is used to verify an employee’s identity and that he or she is authorized to work in the United States?
A. Form W-4
B. Form I-9
C. Form W-2
D. Form 1040
B. Form I-9
What are the costs of operating a business called?
A. prices
B. revenue
C. output
D. expenses
D. expenses
To what do international capital flows refer?
A. When a country can produce goods more efficiently and at a lower cost than another country.
B. The purchase or sale of financial or real assets across national borders.
C. Money used to generate income or invest in a business or asset.
D. Taxes on imports.
B. The purchase or sale of financial or real assets across national borders.
How much of the energy consumed in the United States is provided by fossil fuels?
A. more than 80 percent
B. more than 90 percent
C. more than 95 percent
D. 100 percent
A. more than 80 percent
An example of an aptitude is _____.
A. perfection
B. thinking logically
C. collecting
D. drawing
D. drawing
Which section of a résumé is typically the main focus of an employer’s attention?
A. career objective
B. references
C. education
D. work experience
D. work experience
What is a nonprofit organization that may be either public or private?
A. S corporation
B. institution
C. proprietorship
D. retailer
B. institution
What is a capital investment?
A. When a country can produce goods more efficiently and at a lower cost than another country.
B. The purchase or sale of financial or real assets across national borders.
C. Money used to generate income or invest in a business or asset.
D. Money paid by an organization to help it remain in operation.
C. Money used to generate income or invest in a business or asset.
Which is true regarding food deserts?
A. Food deserts exist only in rural areas.
B. Food deserts include areas in which the only food available is fast food.
C. Food deserts are caused by deforestation.
D. Food deserts exist only in urban areas.
B. Food deserts include areas in which the only food available is fast food.
_____ is the elimination of jobs generally because the economy is suffering.
A. Downsizing
B. Outsourcing
C. Onshoring
D. Offshoring
A. Downsizing
Which employment form is used when filing income tax returns?
A. Form W-4
B. Form I-9
C. Form W-2
D. Form 1040
C. Form W-2
What is the numeric system used to classify businesses and collect economic statistics?
A. North American Industry Classification System (NAICS)
B. North American Free Trade Agreement (NAFTA)
C. North American Demarcation of Associations (NADA)
D. North American Trade Organizations (NATO)
A. North American Industry Classification System (NAICS)
Of the following currencies, which is the strongest international reserve currency?
A. JPY
B. MXN
C. CAD
D. USD
D. USD
_____ is an example of a biodegradable material.
A. Cardboard
B. Plastic
C. Styrofoam
D. Metal
A. Cardboard
Which of the following is a graduate degree?
A. high school
B. associate
C. bachelor
D. master
D. master
Which question is legal for an interviewer to ask?
A. Are you married?
B. Do you have any disabilities?
C. What religion do you practice?
D. How would you handle a disagreement with a coworker?
D. How would you handle a disagreement with a coworker?
The _____ of a corporation is a group of individuals who make high-level management decisions for the business and establish company policies.
A. management group
B. board of directors
C. stockholders
D. shareholders
B. board of directors
Which of the following is not a global organization?
A. International Monetary Fund (IMF)
B. G5
C. World Bank
D. United Nations
B. G5
What is a resistivity rating?
A. how much revenue a business makes
B. how much road-time an electric car can achieve
C. how environmentally friendly a product is
D. how much insulation will resist the movement of heat or cold
D. how much insulation will resist the movement of heat or cold
Which of the following would most likely require continuing education classes?
A. biology degree
B. English degree
C. teaching license
D. mathematics degree
C. teaching license
Which employment form is used for the information needed to withhold the appropriate amount of taxes from an employee’s paycheck?
A. Form W-4
B. Form I-9
C. Form W-2
D. Form 1040
A. Form W-4