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Q1: Which of the following economists is regarded as having developed the theory of comparative advantage

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Answer: David Ricardo

Q2: What is meant by the term “asymmetric information”

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Answer: Where information is not equally shared and the consequence of this is that one party might lose out but it does not have the full access to the information that another party has

Q3: What is “hot money”

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Answer: Flows of money across national borders in the hope of speculative gains.

Q4: What are the NICs

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Answer: Newly Industrialized Countries

Q5: Dependency writers

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Answer: Tend to argue that when less developed countries deepen their trading links with developed ones the dependent relationship means that, in fact, there will be an underdevelopment of the less developed economies.

Q6: Who or what are “comprador capitalists”

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Answer: Successful capitalists who form part of an elite within developing countries and whose businesses are based largely on exporting.

Q7: For writers like Acemoglu and Robinson, if poor countries are to grow rich they fundamentally need to build

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Answer: Inclusive institutions

Q8: Power is not exercised in a one-way direction, and the outcome depends on the resources and actions of the stakeholders involved. This is referred to as

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Answer: A play of power

Q9: The German model of industrial relations involving employees as ‘social partners’ within business is referred to as

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Answer: Co-determination

Q10: Any individual or group that is affected by the decisions of a business organization is known as a

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Answer: Stakeholder

Q11: The acronym CSO stands for

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Answer: Civil society organization

Q12: Noreena Hertz’s idea of a ‘power shift’ refers to

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Answer: The shift of power from government to business

Q13: Which organization claims to be ‘the premier lobbying organization for UK business’ and ‘second-to-none at achieving wins for business’

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Answer: The Confederation of British Industry

Q14: In 2010 more than half of donations to the Conservative party in the UK came from companies and individuals connected to which industry

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Answer: Financial services

Q15: The acronym NIMBY is used to refer to

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Answer: Opposition to an undesired development within a local area

Q16: An oligopolistic market is

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Answer: Dominated by a small number of large firms

Q17: Which political party in the UK is the main beneficiary of donations from companies

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Answer: Conservative party

Q18: Family friendly legislation has given employees the right to

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Answer: Request a permanent change to their work pattern

Q19: When employees are required to work at increased speed and/or effort this is referred to as

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Answer: Intensification of work

Q20: The Working Time Regulations (1998) impose a maximum number of hours worked in an average week, unless an individual decides to ‘opt-out’. This is

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Answer: 48 hours

Q21: In which year was the right to maternity leave established in the UK

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Answer: 1974

Q22: When did the Health and Safety Executive (HSE) introduce a requirement for companies to carry out stress-oriented risk assessments

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Answer: 2003

Q23: What is the minimum annual leave employees are entitled to under the 1998 Working Time Regulations

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Answer: 4 weeks

Q24: Between 2000 and 2008 the maximum working week was restricted by law in France to

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Answer: 35 hours

Q25: The gender pay gap in 2012 based on median hourly earnings for all employees was

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Answer: 19.7% (22% in 2008.)

Q26: In 2015, 19% of female employees are projected to be in which of the following occupational groups

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Answer: Administrative and secretarial

Q27: In 2012, what percentage of female employees worked part-time

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Answer: 43.1

Q28: On the 1st January 1958, six countries signed the treaty establishing the European Economic Community (EEC), in turn establishing the foundations for the European Union. In which European capital was it signed in from which it also takes its name

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Answer: Rome

Q29: The European Union has grown to be one of the world’s largest trading blocs and markets. What is the approximate size of the population of the EU

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Answer: 500 million people

Q30: Which two institutions decide the Union’s budget

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Answer: The Council of Ministers and the European Parliament

Q31: The European Union is one powerful global economic bloc. ASEAN is best described as being

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Answer: A free trade zone

Q32: Which of the following EU countries are sometimes referred to as the PIGS countries

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Answer: Portugal, Ireland. Greece, Spain

Q33: What is the main reason behind the introduction of the euro

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Answer: It can protect business trading from currency fluctuations

Q34: Which of the following countries is NOT a member of the EU

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Answer: Turkey

Q35: Which of the following are exclusive EU competencies in relation to Member States

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Answer: Conservation of marine biological resources (common fisheries policies), common market policies, the customs union and monetary policy for Member States belonging to the Eurozone.

Q36: EU competition and industry policies have affected the EU airline market. Which of the following statements is true

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Answer: EU carriers are now more competitive and the market is growing rapidly.

Q37: Which of the following is NOT an argument for a country allowing its currency to float freely

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Answer: It gives greater certainty to firms involved in trade in terms of future revenues.

Q38: A common or single market will have all of the following features except

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Answer: A common currency

Q39: Which of the options below is the only characteristic of a free trade area

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Answer: No internal trade barriers

Q40: A car manufacturer in the UK agrees to sell cars to a Spanish Car retailer in six months’ time at a price of £10,000 per car. Both companies agree that the contracted rate of exchange will be £1= ?1.50, so that the Spanish company will pay ?15,000 for each car on delivery of the order. This is the amount in euros that the UK manufacturer will recieve. If in six months’ time the euro has depreciated in value

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Answer: The UK manufacturer will actually receive less than £10,000 for each car. (15,000/1.6 = £9,375.)

Q41: A car manufacturer in the UK agrees to sell cars to a Spanish Car retailer in six months’ time at a price of £10,000 per car and both companies agree that the contracted rate of exchange will be £1= ?1.50 so that the Spanish company will pay ?15,000 for each car on delivery of the order. This is the amount in euros that the UK manufacturer will receive. If in six months’ time the euro has appreciated in value so that the new rate is £1= ?1.4

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Answer: The UK car manufacturer will receive £714 (to the nearest pound) more per car. 15,000/1.4 = £10,714 (to the nearest pound).

Q42: Which of the following would undermine the case for a customs union

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Answer: If there was substantial evidence that trade diversion outweighed trade creation. which were sole proprietorships at the start of 2012 and 9.3% relates to the number of these that were partnerships.

Q43: What is the target date for the Millennium Development Goals

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Answer: 2015

Q44: To what has Sir Nicholas Stern referred to as “the greatest example of market failure ever seen”

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Answer: Climate change

Q45: The belief in the policies arising out of neo-liberal orthodoxy as a way of getting economies out of the 2008 Global Financial crisis are most closely drawn from

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Answer: The Washington Consensus

Q46: In what year did the Chinese abandon communism as an organizing principle of their political, economic and social system

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Answer: None of these dates

Q47: Which of the following countries is NOT one of the BRICS nations

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Answer: Indonesia

Q48: What does the term “bottom of the pyramid models “refer to

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Answer: That economic policies should actively seek to encourage the latent entrepreneurship and demand that exists amongst the poor in developing countries.

Q49: The Easterlin Paradox refers to

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Answer: It is not the absolute level of income that makes us happy but our position relative to others.

Q50: In the book “The Spirit Level”, Wilkinson and Pickett argue that

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Answer: In affluent societies we could improve well-being if we managed to reduce the levels of inequality.

Q51: Which of the following statements best represents the view of the UN Intergovernmental Panel on Climate Change

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Answer: There is a high probability that global climate change is caused by human activity and that the risks posed by this can be reduced by taking action to curb carbon emissions now.

Q52: The following table on age profiles was extracted from a report. What is wrong with it assignment mcq

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Answer: Ranges not mutually exclusive

Q53: John has made the following predictions for his business for the first six months of trading to 30 June 2016. The total cash received from customers during the six months ended 30 June 2016, will be

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Answer: £130,000

Q54: John has made the following predictions for his business for the first six months of trading to 30 June 2016 assignment mcq The cash received in April will be

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Answer: £20,000

Q55: John has made the following predictions for his business for the first six months of trading to 30 June 2016assignment mcqPurchase will be for cash. If goods are sold at a gross profit margin of 40%, and goods are replaced as soon as they are sold, the amount payable to suppliers in March 2016, will be

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Answer: £12,000.

Q56: An extract from Eddie’s Cash Budget is given below:
What is the expected bank overdraft at the end of July

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Answer: £(3,000)

Q57: An extract from Charlie’s Cash Budget is given below:
Which of the following overdraft facilities would you advise Charlie to request for the three months ended 30th November

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Answer: An overdraft of a little over £20,000 is required

Q58: John has made the following predictions for his business for the first six months of trading to 30 June 2016:assignment mcqThe trade receivables figure as at 30 June 2016 will be

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Answer: £25,000.

Q59: Ben started trading on 1 January 2018. His trial balance at 31 December 2018 is given below:
assignment mcq
If the closing inventory at 31 December 2018 was £8,000 and depreciation is to be ignored, which one of the following statements is true

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Answer: Net profit is £16,000.

Q60: Statement is concerning organizing ‘It involves grouping people into departments based on undifferentiated tasks they perform’

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Answer: Wrong – False

Q61: Statement is concerning organizing ‘It is a process managers use to establish the structure of working relationships’

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Answer: Correct – True

Q62: Statement is concerning organizing ‘It lays out lines of authority and responsibility’

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Answer: Correct – True

Q63: Statement is concerning organizing ‘Managers decide how best to coordinate organizational resources’

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Answer: Correct – True

Q64: A working knowledge of organizational behavior is important to

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Answer: All of these—Top managementWorkers on the production lineMiddle managers

Q65: An ability to act in a way that allows a person to perform well in his or her role is a(n)

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Answer: Skill

Q66: An___is a network of information technology inside an organization that links its members together

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Answer: Intranet

Q67: As diversity increases and organizations continue to hire more minorities, this presents potential unfair treatment to___individuals

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Answer: White

Q68: Companies expanding their operations abroad do not encounter vastly different social values, beliefs and attitudes since people are basically the same everywhere

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Answer: Wrong – False

Q69: Correct A team is always a group, but a group is not always a team

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Answer: TRUE

Q70: Correct After World War II many of Toyota’s manufacturing managers visited U.S. auto plants of GM and Ford to learn about auto manufacturing

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Answer: TRUE

Q71: Correct In recent years, organizational ethics have taken a back seat to other organizational challenges

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Answer: Wrong – False

Q72: Correct In the controlling process, if it’s determined that organizational goals are being met, then managers do not need to take any action

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Answer: Wrong – False

Q73: Correct Monitoring and evaluating performance to see if organizational goals are being achieved is which management function

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Answer: Controlling

Q74: Correct Organizational behavior replaces___with a well-researched body of theories and guidelines for managing behavior

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Answer: intuition

Q75: Correct The principal task of organizational structure is to encourage people to work hard and coordinate their efforts to ensure high levels of organizational performance

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Answer: TRUE

Q76: Correct To some organizations, being socially responsible means performing any action, as long as it is legal

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Answer: TRUE

Q77: Each of the following is a major way of reflecting organizational diversity EXCEPT

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Answer: occupation

Q78: Fortune 500 companies have downsized so much that they now employ about___percent fewer employees than they used to

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Answer: 15-20

Q79: Very few employees work in self-managed teams

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Answer: Wrong – False

Q80: ___skills allow a manager to analyze and diagnose a situation and to distinguish between cause and effect

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Answer: Conceptual

Q81: ___employees live and work for companies located abroad

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Answer: Expatriate

Q82: A “company cookout” is an example of

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Answer: A rite of integration.

Q83: A 360-degree appraisal is typically conducted by: I. Peers
II. Clients
III. Superiors
IV. Subordinates

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Answer: I, II, III, IV

Q84: A broad statement of the organization’s purpose, products, and customer base that differentiates the organization from its competitors is known as

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Answer: a mission statement.

Q85: A command group is also known as a(n): I. Unit
II. Division
III. Department

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Answer: I and III

Q86: A formal system of reporting relationships that coordinates workers so that they work together to attempt to achieve organizational goals is called

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Answer: An organizational structure

Q87: A good plan does not do which of these

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Answer: Eliminates the different functions and divisions of an organization

Q88: A group whose members work intensely with each other to achieve a specific common goal is known as a

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Answer: Team.

Q89: A manager is deciding which program or programs to initiate. He is acting as a(n)

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Answer: entrepreneur

Q90: A manager’s characteristic way of speaking in terms of his tone of voice, use of questions, and choice of words is an example of this manager’s

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Answer: linguistic style.

Q91: A marketing manager wants to budget the advertising for a new product launch. She is trying to determine the amount of money that her company can afford to spend on advertising this new product. One which criterion of decision-making is this marketing manager focusing

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Answer: Economic feasibility

Q92: A member of a group challenges the decision toward which the group is leaning so that the group considers carefully all of the unacceptable possible outcomes of that possible decision. This is known as

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Answer: devil’s advocacy.

Q93: A member of a task force does not do much work related to the goals of the task force. This member is confident that the other members of the task force “will take up the slack.” This group member is exhibiting

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Answer: Synergy.

Q94: A plan from which employees can choose the benefits that are the most beneficial to them is called a(n)___plan

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Answer: Cafeteria-style

Q95: A principal that requests a new teacher be hired for every increase in enrollment of 40 students is using what type of decision making

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Answer: Programmed

Q96: A restatement of the original message sent from the receiver to the sender is a form of___

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Answer: Feedback

Q97: A set of behaviours and tasks that a member of a group is expected to perform because of his or her position in the group is called a group

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Answer: role.

Q98: A supplier’s bargaining position is especially strong when

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Answer: the supply is vital to the organization.

Q99: A task force is also known as a(n)___committee

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Answer: Ad-hoc

Q100: A virtual team may use which of these to meet: I. Telephone
II. Faxes
III. E-mail
IV. Video conferences

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Answer: I, II, III, and IV
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