Study Guide VOCAT Packet Questions Question # 52-100

Random Questions

100

52. Due to decreasing enrollment in a local school system, fewer teachers as employees are needed. As a result, over 100 teachers were released from their commitments. This information would be useful for which measurement of economic activities? (NCCTE.9_12.BE.8721.PBF1.02) A. Consumer spending B. GDP C. GDP per capita D. Labor activities

D. Labor activities

200

56. The North American Free Trade Association (NAFTA) eliminates tariffs and embargoes among its members while trading goods and services. This is an example of which encouragement of international trade? A. Embargo B. Free-trade agreement C. Free-trade zone D. Tariff

B. Free-trade agreement

300

60. Even though a company may sell shares of stock, it relies on a central body of people for financial directions. This is an example of what type of business? A. Cooperative B. Corporation C. Partnership D. Sole proprietorship

B. Corporation

400

61. If a country is in a civil war and its government changes abruptly, this is an example of which factor that influences international currency exchange? A. Balance of payments B. Balance of trade C. Economic conditions D. Political stability

D. Political stability

500

63. What is the market price for a bottle of perfume using the following figures? A. $36 B. $38 C. $40 D. $42

B. $38

Random Questions

100

65. Tami prefers working alone in her auto body shop and being in control of the daily activities. This type of business ownership ADVANTAGE over corporation is: A. control of decisions. B. limited capital. C. limited life. D. unlimited liability.

A. control of decisions.

200

68. An organization assisted two countries on settling a trade disagreement on the amount of bananas to be traded. This action is an example of assistance provided by which international trade organization? A. International Monetary Fund B. Joint Venture C. World Bank D. World Trade Organization

D. World Trade Organization

300

72. A report covering several quarters about the economy includes that more companies are experiencing record high production and adding new employees. Also, wages and the rate of GDP are increasing significantly. Which phase of the business cycle does this report describe? A. Depression B. Prosperity C. Recession D. Recovery

B. Prosperity

400

78. Aruba has become globally known for its white sandy beaches. It is relied upon by many travelers from other countries to enjoy its beaches at a reasonable cost. This is an example of what type of ADVANTAGE? A. Absolute B. Comparative C. Competitive D. Dual

A. Absolute

500

81. Alaska produces more salmon by the pound than any other state that exports salmon. This is an example of what type of ADVANTAGE? A. Absolute B. Comparative C. Competitive D. Dual

A. Absolute

Random Questions

100

87. An organization assisted two countries on settling a trade disagreement on tariffs. This action is an example of assistance provided by which international trade organization? A. International Monetary Fund B. Joint Venture C. World Bank D. World Trade Organization

D. World Trade Organization

200

92. If an economist researches annually the total value of homes built, this information would be useful for which measurement of economic activities? A. Consumer spending B. GDP C. Investment activities D. Labor activities

B. GDP

300

99. If China has rising interest rates and inflation occurring across the country, this is an example of which factor that influences international currency exchange? A. Balance of payments B. Balance of trade C. Economic conditions D. Political stability

C. Economic conditions

400

57. John is responsible for processing applications submitted by applicants. He is performing which level of management? A. Management by others B. Mid-management C. Supervisors D. Top management

B. Mid-management

500

82. Jason decided for long-term projects that he would allow employees to give input and for daily routines he would determine the necessary duties. This is an example of which style of management? A. Mixed B. Strategic C. Tactical D. Varied

A. Mixed

Random Questions

100

67. Both Bob and Jeri contributed to the expansion of their business to sell more brands of tires. They both experienced which ADVANTAGE of a partnership over a sole proprietorship? A. Limited liability B. Limited life C. More capital available D. Unlimited capital

C. More capital available

200

70. In a hypothetical economy, only 40 people were included and 15 pizzas were produced last year at $7 dollars each. This information would be useful for which measurement of economic activities? A. Consumer spending B. GDP C. GDP per capita D. Labor activities

C. GDP per capita

300

88. Jan coordinated access to open source software, office space, and equipment for her team. This is an example of which function of management? A. Implementing B. Organizing C. Planning D. Staffing

B. Organizing

400

91.When a government agency reports annually the total amount spent to pay employees, this information is useful for which measurement of economic activities? A. Consumer spending B. GDP C. Investment activities D. Labor activities

B. GDP

500

75. Century Company sells filters to Shure Electronics that cut the filters in order for them to be placed into microphones during final production at a later time. What type of production is performed? A. Extraction and cultivation B. Manufacturing C. Mass production D. Processing

D. Processing

Random Questions

100

79. Widgets Unlimited Company examined several options of additional benefits to offer its employees. The company has decided to offer health care insurance. Which part of the economic decision-making process has it performed? A. Defining the problem B. Evaluating the advantages and disadvantages of each choice C. Choosing one choice D. Acting on a choice

C. Choosing one choice

200

90. Several Prime Ministers of East African countries are negotiating the trade of products and services throughout the Eastern region. This is an example of which encouragement of international trade? A. Common markets B. Embargo C. Free-trade zone D. Tariff

A. Common markets

300

100. Tami opened an auto body shop after repairing a couple of cars to the high satisfaction of customers. She has experienced which ADVANTAGE over a corporation? A. Double taxation B. Ease of formation C. Limited capital D. Unlimited liability

B. Ease of formation

400

53. Josh conducts orientations to inform new employees about available benefits. Which human resources manager activity does he perform? A. Management of compensation methods B. Management of performance of employees C. Planning and staffing D. Recruiting and hiring

A. Management of compensation methods

500

98. United States has become globally known for its production of wheat more resourcefully. It can produce the product with less human resources. This is an example of what type of ADVANTAGE? A. Absolute B. Comparative C. Competitive D. Dual advantage

B. Comparative