16. Alex is playing his music at full volume in his dorm
room. The other people living on his floor found this to be a nuisance, but
Alex doesn’t care. Alex’s music playing is an example of:
•
normative externality
•
negative externality
•
Pareto externality
•
positive externality
17. Your résumé should tell a story of______.
•
the value you can provide to a company
•
everything you have learned and done in your previous job
•
how you plan to improve your areas of weakness
•
Your educational accomplishments
18. Joyce finds that the members of the project team to which
she has been assigned in her management class are all athletes on the college’s
football and basketball teams. She
immediately considers dropping the class because she thinks her experience with
that team will be negative. Joyce is
likely reacting to a__________.
•
stereotype
•
negativity bias
•
self-serving bias
•
semantic memory
19. Which of the following types of unemployment is
considered to be the most controllable through demand-side macroeconomic
policy?
•
Natural unemployment
•
Structural unemployment
•
Frictional unemployment
•
Cyclical unemployment
20. If a population is known to be normally distributed,
what can be said of the sample distribution of the sample mean drawn from this
population?
•
For any sample size n, the sampling distribution of the
sample mean is normally distributed.
•
For a sample size n
< 50, the sampling distribution of the sample mean is normally distributed.
•
For a sample size n > 30, the sampling distribution of
the sample mean is normally distributed.
•
For a sample size n
< 30, the sampling distribution of the sample mean is normally distributed.
21. Lori is using secondary research to develop a business
report. How can she write her report in a way that demonstrates originality in
thought?
•
Use the most current documentation guidelines
•
Generate her own conclusions and recommendations
•
Adopt a methodical approach to decision making
•
Cite all her research sources
22.
Identify an example of spontaneous creativity.
•
Settling a disagreement quickly in a simple way.
•
Organizing annual meetings and get-togethers innovatively.
•
Establishing win-win relationships with other people.
•
Modifying the strategies and procedures of a group.
23. How many parameters are needed to fully describe any
normal distribution?
•
2
•
1
•
4
•
3
24. When does the straw man fallacy occur?
•
When a person considers only 2 alternatives even when other
options are available.
•
When a decision maker dismisses an alternative that fails to
solve the issue completely.
•
When a person falsifies or overstates an adversary’s
position.
•
When a person tries to disprove a claim based on its source.
25. A monopoly firm is different from a perfectly
competitive firm in that:
•
A monopolist can influence market price whereas a perfectly
competitive firm cannot.
•
There are many substitutes for a monopolist’s product
whereas there are no substitutes for a competitive firm’s product.
•
A competitive firm has a u-shaped average cost curve whereas
a monopolist does not.
•
A monopolist’s demand curve is perfectly inelastic whereas a
perfectly competitive firm’s demand curve is perfectly elastic.
26. Which of the following is the path through which
contractionary monetary policy works?
•
Money down implies interest rate down implies investment
down implies income down
•
Money down implies interest rate up implies investment up
implies income down
•
Money down implies interest rate up implies investment down
implies income down
•
Money down implies interest rate down implies investment up
implies income down
27. A 911 emergency response service needs operators who are
bilingual in English and Spanish. A few applicants of Spanish origin are
rejected due to poor English-speaking skills. They file a complaint on the
grounds of discrimination based on nationality. Their complaint is squashed.
Here, the defense of the federal government is on the grounds of:
•
Inculpatory evidence
•
Circumstantial evidence
•
Exclusionary rule
•
Bona fide occupational qualifications
28. Jay stops at the shopping mall to purchase a new pair of
jeans from the Diesel store. He is the
ultimate consumer in a pipeline from the producer through intermediaries,
including the clothing store. This
pipeline is actually a__________.
•
consumer market
•
marketing tunnel
•
distribution matrix
•
marketing channel
29. The depreciation of currency will:
•
balance a trade surplus.
•
have no impact on a country’s comparative advantage.
•
worsen a country’s comparative advantage.
•
improve a country’s comparative advantage.
30. The depreciation of currency will:
•
balance a trade surplus.
•
have no impact on a country’s comparative advantage.
•
worsen a country’s comparative advantage.
•
improve a country’s comparative advantage.
•
the activity for creating, communicating, delivering, and
exchanging offerings that benefit its customers, the organization, its
stakeholders, and society at large
•
the activity involved in getting a product or service from
the manufacturer to ultimate consumers and organizational buyers
•
the production of products or services that will generate
the highest return on investment
•
the process of identifying target market segments for a
product or service
32. When two regression models applied on the same data set
have the same response variable but a different number of explanatory
variables, the model that would evidently provide the better fit is the one
with a__________.
•
lower standard error of the estimate and a higher
coefficient of determination
•
higher standard of error of the estimate and a higher
coefficient of determination
•
lower standard error of the estimate and a higher adjusted
coefficient of determination
•
higher coefficient of determination and a lower adjusted
coefficient of determination
33. _____ is the process of converting meaning into messages
composed of words and nonverbal signals.
•
Filtering
•
Encoding
•
Translating
•
Decoding
34. The DeBeers company is a profit-maximizing monopolist
that exercises monopoly power in the distribution of diamonds. If the company
earns positive economic profits this year, the price of diamonds will:
•
Exceed both the marginal cost and the average total cost of
diamonds.
•
Exceed the marginal cost of diamonds but equal to the
average total cost of diamonds.
•
Be equal to the average total cost of diamonds.
•
Be equal to the marginal cost of diamonds.
35. What is true of the features used to judge a person’s
credibility?
•
Mannerisms and age are two valid features that can be used
to judge a person’s credibility.
•
Well-educated individuals can be highly relied upon as
guides to ethical values.
•
Individuals can accurately determine a person’s credibility
based on physical characteristics.
•
Ethnicity, gender, and accent are inapt characteristics for
judging credibility.
36. A receptive developmental network is__________.
•
made up of strong ties to several developers from four
different social systems
•
made up of a few weak ties from one social system
•
made up of weak ties to multiple developers from a variety
of social systems
•
made up of numerous strong ties to developers from one
social system
37. The interdisciplinary field dedicated to understanding
and managing people at work is called:
•
organizational behavior
•
management theory
•
management dynamics
•
organizational dynamics
38. Which of the following can be represented by a discrete
random variable?
•
The time of a flight between Chicago and New York
•
The average distance achieved in a series of long jumps
•
the circumference of a randomly generated circle
•
The number of defective lightbulbs in a sample of five
39. Annie, an employee who often attributes her team
failures to bad luck, attributes other teams’ failures to personal
shortcomings. Which of the following cognitive biases do Annie’s attributions
exemplify?
•
In-group bias
•
Hindsight bias
•
Belief bias
•
Self-deception bias
40. Regarding using personality testing as part of the
hiring process, experts have concluded that:
•
There are many valid instruments available to managers to
test for personality types.
•
Only the Big Five should be used as predictors of job
performance.
•
The effects of personality on job performance are so large
it cannot be ignored by managers.
•
The typical personality test is not a valid predictor of job
performance.
41. Microeconomics and macroeconomics are:
•
Virtually identical, though one is much more difficult than
the other
•
Interrelated because what happens in the economy as a whole
is based on individual decisions
•
Interrelated because both are often taught by the same
instructors
•
Not related because they are taught separately
42. Marketing research refers to__________.
•
the process of defining a marketing problem and opportunity,
systematically collecting and analyzing information, and recommending actions
•
the use of information technology to find objective
solutions to a marketing problem
•
the science of using observable human behavior in order to
identify and solve marketing problems
•
the process of systematically collecting and analyzing
information in order to define a marketing problem
43. In order to summarize qualitative data, a useful tool is
a____________.
•
frequency distribution
•
stem-and-leaf diagram
•
scattergram
•
histogram
44. Suppose that college tuition is higher this year than
last and that more students are enrolled in college this year than last
year. Based on this information, we can
best conclude that:
•
this situation has nothing to do with the law of demand.
•
despite the increase in price, quantity demanded rose due to
some other factors changing.
•
the demand for a college education is positively sloped.
•
the law of demand is invalid.
45. In the context of developing persuasive messages, which
of the following is most likely to help you demonstrate a voice of competence?
•
focusing only on logical appeals
•
using only emotional appeals in your persuasive messages
•
developing strong ideas in the interest of your audience
•
adopting the tone of mass advertising such as over-the-top
appeals
46. Frequent, abusive, threatening phone calls by creditors
are most likely to provoke the basis for a claim of _____________.
•
intentional infliction of emotional distress
•
false imprisonment and malicious prosecution
•
misrepresentation
•
malicious representation
47. The study of similarities and differences among
consumers in two or more nations or societies is referred to as __________.
•
internationalsociographics
•
transnational anthropology
•
cross-cultural analysis
•
market synthesis
48. Fred takes Betty to dinner at a very expensive and
exclusive restaurant. The menu does not mention prices. The server takes their
order, and both Betty and Fred enjoyed the meal immensely. When the bill comes,
Fred refuses to pay because the menu had no prices and because he and the
server never engaged in language indicating an offer and acceptance. The server
said, “Are you ready to order?” and when Fred said “Yes,” the server merely
asked, “What may I get you tonight?”
•
Fred must pay based on expressed contract theory.
•
Fred must pay based on a promissory estoppel theory.
•
Fred must pay based on an implied-in-fact contract theory.
•
Fred is correct because no contract was formed.
49. Advertising, personal selling, sales promotion, public
relations, and direct marketing are marketing communications alternatives that
make up a firm’s __________.
•
marketing mix
•
media strategy
•
communication source
•
promotional mix
50. According to the Classical growth model, an economy that
increases its saving will grow:
•
Slowly because consumption and aggregate demand will be
reduced.
•
Quickly since the increase in saving will permit more rapid
technological progress.
•
Quickly since the increase in saving will permit greater
investment.
•
Slowly because interest rates will fall, causing investment
to decline.
