
Intro to Business - Chapter 4
Quiz by Jan Timmerman
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34 questions
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- Q1The U.S. economy is so big it can provide all of the goods American consumers want without doing business with other countries.TrueFalse30s
- Q2When imports are greater than exports, a country has a positive balance of trade.FalseTrue30s
- Q3Exchange rates are relatively stable and rarely change.TrueFalse30s
- Q4Higher tariffs lead to decreased demand for the imported product.TrueFalse30s
- Q5The embargo is by far the most frequently used trade barrier.TrueFalse30s
- Q6A contract is not enforceable if the parties are not of legal age.FalseTrue30s
- Q7Once it is signed, a written contract binds both parties to what is in the agreement.TrueFalse30s
- Q8The illegal use of intellectual property is called hijacking.TrueFalse30s
- Q9If you buy municipal bonds, you are lending money to the government that issued the bond.TrueFalse30s
- Q10Municipal bonds are considered one of the most risky investments.FalseTrue30s
- Q11A code of ethics is a set of rules for guiding the actions of employees or members of an organization.FalseTrue30s
- Q12It can be difficult for a company to behave ethically while maintaining a competitive edge and earning a reasonable profit.FalseTrue30s
- Q13Socially responsible businesses that cause pollution of lakes and rivers have taken action to eliminate or correct those operations.FalseTrue30s
- Q14U.S. companies should always follow American customs and standards, even when they conduct business internationally.FalseTrue30s
- Q15Social responsibility often involves costs that can reduce a business’s profits.FalseTrue30s