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Exam Review #4 Flashcards | StudBud
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Exam Review #4
Exam Review #4
23 terms
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StudBud Administration
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166 plays
economics
Flashcards
23 cards
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Questions
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Answers
1
The government document that grants permission to establish a corporation is called a
charter.
partnership agreement.
stock certificate.
limited liability agreement.
2
I will study for this exam
False
True
3
A business run by a single person is a
corporation.
limited liability corporation
partnership.
sole proprietorship.
4
Schools, churches, and community organizations are examples of
conglomerates.
cooperatives.
nonprofit organizations.
labor unions
5
What are M1 and M2?
fiat monies
money supplies
currency
specie
6
Which of the following is one of the three functions of money?
store of value
scarcity
portability
divisibility
7
Which of the following tactics is used
only
by management?
negotiation
boycott
lockout
picket
8
What grade do you plan to make on the exam?
D
B
A
C
9
Which of the following is an advantage of sole proprietorship?
The owner keeps all the profits.
Almost no requirements to start a sole proprietorship.
All of the above statements are true.
The owner makes all the decisions.
10
Which activity is illegal in a state with a right-to-work law?
denying any qualified worker a job
requiring union membership as a condition of employment
joining a union
requiring a higher hourly rate for overtime hours
11
What will your “creditworthiness” be based on?
keeping up with payments
your credit history
all of the above
having a good financial relationship with a bank
12
A venture capitalist’s main goal is usually to
help individuals achieve their dreams.
help their communities.
get a good return on an investment.
teach entrepreneurs managerial skills.
13
The reserve requirement is used to compute the amount of a bank’s required reserves.
True
False
14
Which of the following is a DDA?
a credit card
a checking account
a debit card
a savings account
15
Which of the following is an accurate statement about minimum wage laws in the United States?
The minimum wage is adjusted by law every five years.
The minimum wage is the same in all parts of the country.
Some states established a higher-than-federal minimum wage.
Some states established a lower-than-federal minimum wage.
16
A company with four or more businesses that make unrelated products is called a
horizontal merger.
conglomerate.
multinational.
vertical merger.
17
When two companies that produce the same kind of product merge, this is called a
vertical merger.
multinational merger.
horizontal merger.
conglomeration.
18
I want to major in Economics because it is the only major that teaches common sense!
True
True
19
Most mergers take place to improve a company’s performance in the eyes of
the shareholders.
government regulators.
tax collectors.
the employees.
20
Certificates of deposit are also known as DDAs or “Demand Deposit Accounts.”
True
False
21
You pick up a $1 bill. What are you holding?
a federal Reserve note
fiat money
all of the above
currency
22
The Federal Reserve is the nation’s _____ bank.
only
oldest
central
first
23
When a union negotiates pay and other job-related matters, this is called
cooperative bargaining
collective bargaining
accessing resources
going on strike
