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Intro to Business Unit 2

Question 1 of 50

1

Keeping inaccurate accounting records is____________?

Select one of the following:

  • a. good business practice

  • b. unethical and illegal

  • c. deceptive but not illegal

  • d. unethical and legal

Explanation

Question 2 of 50

1

The United States economy is shaped by a mix of public and private forces.

Select one of the following:

  • True
  • False

Explanation

Question 3 of 50

1

When the government is trying to figure out the unemployment rate, the government first has to find out how many people are unemployed. How can the government figure out how many people are currently unemployed?

Select one of the following:

  • a. survey

  • b. number of people who get laid off

  • c. number of people who file for unemployment

  • d. number of people in the world minus the number of workers

Explanation

Question 4 of 50

1

Economies rely on both the present and past inventions from previous economies to make it the best possible economy.

Select one of the following:

  • True
  • False

Explanation

Question 5 of 50

1

An example of an ethical business practice would be what?

Select one of the following:

  • a. not paying overtime to workers

  • b. requiring employees to work on holidays

  • c. keeping accurate financial records

  • d. false advertising

Explanation

Question 6 of 50

1

Name three of the five Economic Indicators that the Government uses to decide where the Economy is in the Business Cycle.

Select one of the following:

  • GDP, Standard of Living, Unemployment Rate, Rate of Inflation, and National Debt

  • c

Explanation

Question 7 of 50

1

Two people that have comparable job responsibilities and work experience are required by what Act to be paid the same?

Select one of the following:

  • Environmental Protection Agency (EPA)

  • Equal Pay Act (EPA

  • Sarbenes-Oxley Act

  • American with Disabilities Act (ADA)

Explanation

Question 8 of 50

1

American's with Disabilities Act protect people that are physically disabled but not mentally disabled.

Select one of the following:

  • True
  • False

Explanation

Question 9 of 50

1

Which of the following is things a person can do that will show good ethics in the workplace?

Select one of the following:

  • a. requiring the employees to work on holidays

  • b. recycles paper

  • c. false advertising

  • d. steal from the company

Explanation

Question 10 of 50

1

How does a company know if they have unethical employees working in their company?

Select one of the following:

  • a. competitors will spy on them

  • b. they police themselves

  • c. FBI will let them know

  • d. Better Business Bureau

Explanation

Question 11 of 50

1

What is the main source of income for the government?

Select one of the following:

  • Taxes

  • c

Explanation

Question 12 of 50

1

When unemployment is low, the economy is doing well.

Select one of the following:

  • True
  • False

Explanation

Question 13 of 50

1

The United States has a very high GDP compared to some countries, but it has a low standard of living.

Select one of the following:

  • True
  • False

Explanation

Question 14 of 50

1

The name of the Company that went bankrupt due to their unethical behavior in late 1990s and early 2000s.

Select one of the following:

  • Enron

  • c

Explanation

Question 15 of 50

1

Billy has better qualifications which include a college degree than Paul who has no college degree. Billy and Paul are going for the same job but Billy is twenty years older. A company can hire Paul and it will be acceptable to the EEOC.

Select one of the following:

  • True
  • False

Explanation

Question 16 of 50

1

Economic indicators measure what?

Select one of the following:

  • a. all of the other answers are correct

  • b. whether its economy is growing

  • c. how the country compares to others

  • d. how much a country is producing

Explanation

Question 17 of 50

1

The government agency that makes sure all companies are in compliance with standards which include making sure employees have proper training on equipment, using proper safety equipment when required?

Select one of the following:

  • a. EPA

  • b. OSHA

  • c. all of the other answers are correct

  • d. EEOC

Explanation

Question 18 of 50

1

Give one example of a question a person might consider when making an ethical decision?

Select one of the following:

  • Is it against the law or does it violate company policy?
    Is everyone doing it? How do I feel if they did it to me?
    Am I sacrificing long-term benefits or short-term goals?

  • c

Explanation

Question 19 of 50

1

Andy Dufresne transferred from his math teaching job to statistical analysis for the unemployment office. His first job is to figure out what unemployment rate is for the month of August. The data that he has on his desk is the following: number of people employed is 200,000, number of people unemployed who are collecting unemployment checks is 50,000, and the number of people retired is 15,000. What is the unemployment rate for August?

Select one of the following:

  • 50,000/250,000=.2 x 100=20%

  • v

Explanation

Question 20 of 50

1

What government organization protects the rights of the employees when dealing with their safety on the job, pay, number of hours worked, and emergency plans?

Select one of the following:

  • a. OSHA

  • b. EPA

  • c. State Laws

  • d. EEOC

Explanation

Question 21 of 50

1

This occurs when gifts, money, or favors are offered to encourage a business deal

Select one of the following:

  • Ethics

  • Social Responsibility

  • Deflation

  • Business Ethics

  • Sweatshop

  • Bribery

  • Inflation

  • Business Cycle

  • Code of Ethics

  • Conflict in Interest

Explanation

Question 22 of 50

1

A conflict in between self-interest and professional obligation.

Select one of the following:

  • Conflict in Interest

  • v

Explanation

Question 23 of 50

1

A place of employment that the employees are employed for long hours at low wages.

Select one of the following:

  • Sweatshop

  • v

Explanation

Question 24 of 50

1

Rules about how businesses and their employees ought to behave

Select one of the following:

  • Business Ethics

  • Code of Ethics

  • Ethics

Explanation

Question 25 of 50

1

A statement of values and rules that guides the behavior of employees or members of an organization.

Select one of the following:

  • Business Ethics

  • Code of Ethics

  • Ethics

Explanation

Question 26 of 50

1

These are principles of morality or rules of conduct.

Select one of the following:

  • Ethics

  • Business Ethics

  • Code of Ethics

Explanation

Question 27 of 50

1

This is the duty to do what is best for society.

Select one of the following:

  • Social Responsibility

  • c

Explanation

Question 28 of 50

1

The general decrease in price of goods and services

Select one of the following:

  • Deflation

  • Inflation

Explanation

Question 29 of 50

1

The general increase in the price of goods and services.

Select one of the following:

  • Deflation

  • Inflation

Explanation

Question 30 of 50

1

The rise and fall of economic activity over time.

Select one of the following:

  • Business Cycle

  • c

Explanation

Question 31 of 50

1

When someone is hiding workers from the government because they are doing something illegally like not pay them enough money or the workers are too young to be working. These people probably working in what type of environment?

Select one of the following:

  • a. venture business

  • b. sweatshop

  • c. family owned business

  • d. factory

Explanation

Question 32 of 50

1

Which of the following things can the government NOT use a budget surplus for?

Select one of the following:

  • a. increase funding in other programs

  • b. defer the cost of private education

  • c. lower taxes

  • d. reduce the national debt

Explanation

Question 33 of 50

1

Why is it important for the government officials to figure out Gross Domestic Product (GDP)?

Select one of the following:

  • a. measures how many products have been sold

  • b. measure products that other people need to make

  • c. measures the number of products

  • d. measures the item being produced

Explanation

Question 34 of 50

1

The government agency monitors discrimination in age, disability, race, and gender. This can apply to firing, hiring, or promotions

Select one of the following:

  • OSHA

  • all of the other answers are correct

  • EPA

  • EEOC

Explanation

Question 35 of 50

1

The government agency that monitors endangered species, hazardous waste, land, air, among other things is what agency?

Select one of the following:

  • a. all of the other answers are correct

  • EPA

  • EEOC

  • OSHA

Explanation

Question 36 of 50

1

The Triangle Shirtwaist Factory Company had a tragedy in where 146 workers died because the factory was on fire. The factory did not have enough exits and the working conditions were very inadequate. After this occurred the government started what government agency so something like this would not happen again?

Select one of the following:

  • both OSHA and Environmental Protection Agency (EPA)

  • EPA

  • EEOC

  • OSHA

Explanation

Question 37 of 50

1

Bribery occurs when gifts, money, or favors are offered?

Select one of the following:

  • a. instead of payment of taxes

  • b. to encourage business deals

  • c. as bonus to managers

  • d. in lieu of wages

Explanation

Question 38 of 50

1

In the United States how would a person’s standard of living be measured?

Select one of the following:

  • a. amount of goods owned

  • b. how big a person’s house is

  • c. how many items that they have

  • d. income divided by expenses

Explanation

Question 39 of 50

1

What government agency monitors companies water and air quality that they put off into the environment.

Select one of the following:

  • a. EPA

  • b. EEOC

  • c. none of the other answers are correct

  • d. OSHA

Explanation

Question 40 of 50

1

The ethical conduct that a business for the most part has been determined by who or what?

Select one of the following:

  • upper management

  • b. customers

  • c. type of merchandise

  • d. all employees

Explanation

Question 41 of 50

1

What is the government agency that protects us from two businesses from merging together and this new business would have too much control of their industry and would be considered a monopoly.

Select one of the following:

  • FTC

  • EEOC

  • OSHA

  • EPA

Explanation

Question 42 of 50

1

Which of the following is NOT an ethical decision that an employee might have to face at work?

Select one of the following:

  • bribery

  • b. conflict of interest

  • lying

  • deficit

Explanation

Question 43 of 50

1

Unemployment is low, production of goods and services is high, and new businesses open.

Select one of the following:

  • Prosperity

  • Recovery

  • Recession

  • Depression

Explanation

Question 44 of 50

1

Businesses produce less, need fewer workers, unemployment rate increases, and people have less money to spend.

Select one of the following:

  • Prosperity

  • Recovery

  • Recession

  • Depression

Explanation

Question 45 of 50

1

Many people go back to work and have money to purchase goods and services. This in affect raises the GDP.

Select one of the following:

  • Prosperity

  • Recovery

  • Recession

  • Depression

Explanation

Question 46 of 50

1

High unemployment. low production of goods and services, and unused manufacturing facilities.

Select one of the following:

  • Prosperity

  • Recovery

  • Recession

  • Depression

Explanation

Question 47 of 50

1

In the second to last question, the person's name (Andy Dufresne) comes from what 1994 movie?

Select one of the following:

  • Shawshank Redemption

  • c

Explanation

Question 48 of 50

1

Which of the following things might a business deem to be unethical conduct at work?

Select one of the following:

  • a. all the other answers are correct

  • b. browsing the Internet

  • c. personal phone calls

  • d. stealing from the company

Explanation

Question 49 of 50

1

Unethical treatment of employees includes all of the following except what?

Select one of the following:

  • a. rewarding good employees with salary incentives

  • b. treating employees unfairly

  • c. inadequately compensating employees

  • d. establishing no maternity leave policy

Explanation

Question 50 of 50

1

The economy has to go through all four stages of the business cycle in order with no interruptions.

Select one of the following:

  • True
  • False

Explanation

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