Economics: Balance of Payments and Demand

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Which of the following is NOT a key purpose of the Sarbanes-Oxley Act?

To establish a new regulatory body for public accounting firms
To deter and punish corporate fraud and corruption
To protect the interests of workers and shareholders
To promote sustainable business practices (correct)

Which of the following best describes 'sexism' as defined in the text?

Discrimination against members of either sex, but usually against women (correct)
Unwelcome and inappropriate actions of a sexual nature
A business's consideration of society's well-being and consumer satisfaction in addition to profits
People who remain unemployed for long periods of time, often with little hope of finding new jobs like their old ones

What is the primary purpose of the World Bank according to the text?

To promote sustainable business practices
To lend money to less-developed countries (correct)
To monitor GATT agreements and mediate international trade disputes
To establish a 159-member international institution

Which of the following best describes 'social audits' as defined in the text?

Formal procedures that identify and evaluate all company activities related to social issues (A) Signup and view all the answers

What is the key purpose of the World Trade Organization (WTO) according to the text?

To monitor GATT agreements and mediate international trade disputes (C) Signup and view all the answers

Which of the following best describes 'structural unemployment' as defined in the text?

People who remain unemployed for long periods of time, often with little hope of finding new jobs like their old ones (C) Signup and view all the answers

Which of the following best describes 'supply' as defined in the text?

The willingness and ability of sellers to provide goods and services at different prices (C) Signup and view all the answers

What is the primary purpose of 'whistle-blowing' according to the text?

Disclosure to company officials, government authorities, or the media of illegal, immoral, or unethical practices committed by an organization (A) Signup and view all the answers

What is the primary purpose of 'social responsibility' as defined in the text?

A business's consideration of society's well-being and consumer satisfaction in addition to profits (A) Signup and view all the answers

Which of the following best describes 'supply curve' as defined in the text?

A graph that shows the relationship between different prices and the amount of goods that sellers will offer for sale regardless of demand (C) Signup and view all the answers

Which term refers to the process of dividing work activities into units within an organization?

Departmentalization (A) Signup and view all the answers

What does devaluation refer to?

Reducing a currency's value in terms of other currencies or a fixed standard (A) Signup and view all the answers

What does balance of trade represent?

Difference between exports and imports (B) Signup and view all the answers

What is the main focus of economics as a social science?

Analyzing choices in resource allocation (A) Signup and view all the answers

What is the primary aim of the Canada–United States–Mexico Agreement (CUSMA)?

Reducing tariffs and trade restrictions (D) Signup and view all the answers

What is `dumping` in the context of international trade?

Selling products below production costs to gain market share from domestic competitors (B) Signup and view all the answers

What does `directing` involve in an organizational context?

Guiding and motivating employees to achieve organizational goals (C) Signup and view all the answers

`Business ethics` mainly focus on:

Standards of conduct and moral values in the business environment (D) Signup and view all the answers

`Balance of payments` is concerned with:

Overall money flows in and out of a country (C) Signup and view all the answers