Archives: Quiz

The Monetary System 7211 75. Refer to Table 29-3. If all banks in the economy have the same reserve ratio as this bank, then an increase in reserves of $150 for this bank has the potential to increase deposits for […]

268. An unfair labor practice case is decided by the National Labor Relations Board. If one of the parties to the case is unhappy with the decision or refuses to comply with the order, the appeal will go to: a. […]

The Monetary System 7191 34. If the reserve requirement is 10 percent, a bank desires to hold no excess reserves, and it receives a new deposit of $500, it a. must increase required reserves by $50. b. will initially see […]

209. Mandatory vesting under ERISA means that an employee: a. must retire at a company-appointed time b. must retire at the first sign of major illness c. may not receive benefits unless he has worked for no other employer during […]

The Monetary System 7171 44. An open-market sale a. increases the number of dollars and the number of bonds in the hands of the public. b. increases the number of dollars in the hands of the public and decreases the […]

154. The Family and Medical Leave Act does not apply to: a. key employees b. small employers with less than 50 employees c. new employees d. all of the other specific choices e. none of the other choices 155. For […]

The Monetary System 7151 Multiple Choice – Section 02: The Federal Reserve System 1. Which of the following institutions is a central bank? a. the Bank of Japan b. the Bank of England c. the Federal Reserve System d. All […]

104. Although employers may refuse to allow an OSHA inspector in without a warrant: a. this is rarely done in practice because it is likely to put the inspector in a bad mood b. this is often done to annoy […]

The Monetary System 7131 66. Which of the following is not included in M1? a. a $5 bill in your wallet b. $100 in your checking account c. $500 in your savings account d. All of the above are included […]

48. About one in working–age people have, at some point, a substance-abuse problem. a. two b. three c. eight d. twenty e. twenty-five 49. Abused substances such as cocaine and alcohol: a. are all illegal b. may be illegal or […]

The Monetary System 7111 25. Treasury Bonds are a. liquid, but not a store of value. b. a store of value, but not liquid. c. both liquid and a store of value. d. neither liquid nor a store of value. […]

Multiple Choice 1. Employment-at–will: a. allows employees to quit their jobs for any reason at any time b. allows employers to discharge employees for any reason at any time subject to contract obligations c. has been restricted by the courts […]

The Monetary System Multiple Choice – Section 00: Introduction 1. You use U.S. currency to pay the owner of a restaurant for a delicious meal. The currency a. has no intrinsic value. The exchange is an example of barter. b. […]

65. In Bearden v. Wardley Corp., where real estate agent Gritton cheated Bearden on a house deal, the court held that his employer, Wardley, was not liable because it had no way to know of his actions. a. True b. […]

7072 Unemployment 239. What is the theory of efficiency wages? Provide four reasons that employers might pay efficiency wages. ANSWER: According to the theory of efficiency wages, firms operate more efficiently if wages are above the equilibrium level. Therefore, it […]

True / False 1. Agency relationships used to be common in decades past, but in recent years they have fallen out of favor. a. True b. False 2. The agency relationship is a key part to most business operations. a. […]

Unemployment 7053 190. It is only among the least skilled and least experienced members of the labor force that minimum-wage laws cause unemployment. a. True b. False ANSWER: True DIFFICULTY: Difficulty: Moderate LEARNING OBJECTIVES: ECON.MANK.15.138 – LO: 28–3 NATIONAL STANDARDS: […]

257. Which of the following is a common problem with employee handbooks: a. listing specific offenses for which people may be fired can create the impression those are the only offenses that matter b. failing to change the handbook to […]

Unemployment 7033 130. The Bureau of Labor Statistics’ household survey and establishment survey both yield the same results about total employment. a. True b. False ANSWER: False DIFFICULTY: Difficulty: Moderate LEARNING OBJECTIVES: ECON.MANK.15.136 – LO: 28-1 NATIONAL STANDARDS: United States […]

219. In France v. Southern Equipment Co., where France, after falling off a roof, sued Southern Equipment Co. who had employed Quality Metal Roof, a company that contracted with France’s employer, Royalty Builders, to build them a new metal roof […]

Unemployment 7013 70. Data on the unemployment rate in the U.S. since 1960 show that the economy always has some unemployment and that the amount changes from year to year. a. True b. False ANSWER: True DIFFICULTY: Difficulty: Easy LEARNING […]

169. Terry hires an agent, Janet, to sell a piece of property for no less than $50,000 with Janet to receive a 6% commission upon sale. Which of the following is Janet legally permitted to do without Terry‘s consent? a. […]

Unemployment 6993 9. The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity. a. True b. False ANSWER: False DIFFICULTY: Difficulty: Easy LEARNING OBJECTIVES: ECON.MANK.15.141 – LO: 28-0 NATIONAL STANDARDS: United States – […]

114. Lyle is Thelma’s agent. Thelma has made it clear to Lyle that she does not want him to sign the contracts that he negotiates; she retains that power. If, despite Thelma’s instructions, Lyle negotiates and signs a contract with […]

Unemployment 6973 6. Suppose that efficiency wages become more common in the economy. Imposing efficiency wages a. increases the quantity demanded and decreases the quantity supplied of labor. b. decreases the quantity demanded and increases the quantity supplied of labor. […]

60. You post a notice at school that you will sell your laptop computer for $600. A buyer comes by your room to look at it while you are gone and your roommate sells it for $500, thinking you would […]

Unemployment 6953 14. When a union raises the wage above the equilibrium level, it a. reduces both the quantity of labor supplied and the quantity of labor demanded. b. reduces the quantity of labor supplied and raises the quantity of […]

Multiple Choice 1. An employment of an agent for the purpose of representation in establishing relations between a principal and third parties is known as a(n): a. third party relationship b. principal relationship c. agency relationship d. real relationship e. […]

Unemployment 6933 23. Refer to Figure 28-3. If the government imposes a minimum wage of $4, how many workers will be unemployed? a. 0 b. 3,000 c. 4,000 d. 7,000 ANSWER: a POINTS: 1 DIFFICULTY: Difficulty: Moderate LEARNING OBJECTIVES: ECON.MANK.15.138 […]

118. A mechanic’s lien applies only to “mechanical” work, such as car repairs or plumbing work on a house. a. True b. False 119. A mechanic‘s lien is also called an artisan‘s lien. a. True b. False ANSWER: False POINTS: […]

Unemployment 6913 28. Wanda quit her job because she was unhappy at work. Arnold was fired from his landscaping job because his company was downsizing. Who is eligible for unemployment insurance benefits? a. both Wanda and Arnold b. Wanda but […]

66. Open accounts usually require full payment within a fixed time period. a. True b. False 67. Consumer credit accounts are often installment accounts. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States – BUSPROG: […]

Unemployment 6893 194. Which of the following is not an explanation for the existence of unemployment in the long run? a. it takes time for workers to search for the jobs that are best suited for them b. minimum-wage laws […]

True / False 1. Negotiable instruments are important to business because they allow for the orderly creation and transfer of rights to the payment of money. a. True b. False 2. Negotiable instruments began many years ago as a written […]

Unemployment 6873 152. Which of the following is not a commonly–cited explanation for the dramatically increasing labor–force participation rates for women from 1950 to the present? a. availability of reliable birth control b. invention of household labor-saving devices such as […]

331. The final stage of bankruptcy is known as: a. disruption in bankruptcy b. removal in bankruptcy c. distancing of the debtor d. divorce from the proceedings e. none of the other choices 332. Bankruptcy discharge is: a. illegal b. […]

Unemployment 6853 111. Refer to Table 28-2. The labor-force participation rate of Aridia in 2012 was a. 50%. b. 53.3%. c. 56.25%. d. 88.9%. ANSWER: c POINTS: 1 DIFFICULTY: Difficulty: Moderate LEARNING OBJECTIVES: ECON.MANK.15.136 – LO: 28–1 NATIONAL STANDARDS: United […]

282. A is issued by the clerk of the court and directs the sheriff to seize and sell any of the debtor’s nonexempt real or personal property within the court’s jurisdiction. a. writ of judgment b. writ of attachment c. […]

Unemployment 6833 67. President Bigego is running for re-election against Senator Pander. Bigego proclaims that more people are working now than when he took office. Pander says that the unemployment rate is higher now than when Bigego took office. You […]

229. If a debtor cannot meet credit obligations it is said: a. to relapse b. to expire c. to default d. to attach e. to perfect its claim 230. If a debtor cannot meet credit obligations it is said: a. […]

Unemployment 6813 27. Who of the following would be included in the Bureau of Labor Statistics’ “unemployed” category? a. Miguel, who is on temporary layoff b. Reta, who worked only 15 hours last week c. Marisa, who neither has a […]

172. If a debtor is insolvent, the unsecured creditor: a. can only collect half the bill b. can only collect three quarters of the bill c. cannot collect the bill d. can collect the bill, plus interest e. can collect […]

Unemployment Multiple Choice – Section 00: Introduction 1. To maintain their standard of living, most people rely on a. government assistance. b. their personal savings. c. their labor earnings. d. rental income. ANSWER: c DIFFICULTY: Difficulty: Easy LEARNING OBJECTIVES: ECON.MANK.15.135 […]

112. When a draft guarantees payment for goods in international trade, the draft is called a: a. bill of trade b. bill of exchange c. bill of sale d. payment of exchange e. balloon note 113. When a draft guarantees […]

The Basic Tools of Finance 6777 24. Thompson Corporation is considering the purchase of a new piece of machinery. Thompson expects the new machinery to increase its revenues by $70,000 at the end of year 1, $60,000 at the end […]

57. To be found a holder in due course, a transferee must: a. be in possession of an instrument in the form of either a draft or a check (but not a note) made out “to bearer ” b. have […]

The Basic Tools of Finance 6761 43. Managed mutual funds usually outperform mutual funds that are supposed to follow some stock index. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Difficulty: Easy LEARNING OBJECTIVES: ECON.MANK.15.133 – LO: 27-3 NATIONAL […]

Multiple Choice 1. Every year, creditors have to absorb in unpaid debt: a. about $100 million b. about $5 billion c. over $20 billion d. less than $5 million e. about $20 million 2. Every year, creditors have to absorb […]

The Basic Tools of Finance 6741 66. Writing in The Wall Street Journal in 2009, economist Jeremy Siegel pointed out that the efficient markets hypothesis a. was responsible for the financial crisis of 2008-2009. b. was responsible for the Great […]

118. The owners of a limited liability company are called members. a. True b. False 119. The owners of limited liability companies are called shareholders. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States – […]