Economics: Balance of Payments and Demand
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Economics: Balance of Payments and Demand

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Questions and Answers

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?

    <p>Formal procedures that identify and evaluate all company activities related to social issues</p> Signup and view all the answers

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

    <p>To monitor GATT agreements and mediate international trade disputes</p> Signup and view all the answers

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

    <p>People who remain unemployed for long periods of time, often with little hope of finding new jobs like their old ones</p> Signup and view all the answers

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

    <p>The willingness and ability of sellers to provide goods and services at different prices</p> Signup and view all the answers

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

    <p>Disclosure to company officials, government authorities, or the media of illegal, immoral, or unethical practices committed by an organization</p> Signup and view all the answers

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

    <p>A business's consideration of society's well-being and consumer satisfaction in addition to profits</p> Signup and view all the answers

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

    <p>A graph that shows the relationship between different prices and the amount of goods that sellers will offer for sale regardless of demand</p> Signup and view all the answers

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

    <p>Departmentalization</p> Signup and view all the answers

    What does devaluation refer to?

    <p>Reducing a currency's value in terms of other currencies or a fixed standard</p> Signup and view all the answers

    What does balance of trade represent?

    <p>Difference between exports and imports</p> Signup and view all the answers

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

    <p>Analyzing choices in resource allocation</p> Signup and view all the answers

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

    <p>Reducing tariffs and trade restrictions</p> Signup and view all the answers

    What is dumping in the context of international trade?

    <p>Selling products below production costs to gain market share from domestic competitors</p> Signup and view all the answers

    What does directing involve in an organizational context?

    <p>Guiding and motivating employees to achieve organizational goals</p> Signup and view all the answers

    Business ethics mainly focus on:

    <p>Standards of conduct and moral values in the business environment</p> Signup and view all the answers

    Balance of payments is concerned with:

    <p>Overall money flows in and out of a country</p> Signup and view all the answers

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