BUS 475 Final Exam Set 2
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control over the prices of their products. The names given to these market structures are __________. 16) Lekeisha's income exceeds her expenditures. Lekeisha is a __________. 17) A tax on an imported good is called a __________. 18) Lucy starts her own psychiatric practice, but her expenditures to open the practice exceed her income. Lucy is a __________. 19) One characteristic of an oligopoly market structure is: 20) When, in a particular market, the law of demand and the law of supply both apply, the imposition of a binding price ceiling in that market causes quantity demanded to be __________. 21) When a firm sells a good or a service, the sale contributes to the nation’s income __________. 22) The open-economy macroeconomic model includes __________. 23) Most economists use the aggregate demand and aggregate supply model primarily to analyze __________. 24) In the market for foreign-currency exchange in the open economy macroeconomic model, the amount of net capital outflow represents the quantity of dollars __________. 25) Which of the following is not correct? 26) The Federal Reserve will tend to tighten monetary policy when __________. 27) Which of the following statements about GDP is correct? 28) The most dominant areas in the global economy include: 29) The term used to refer to all kinds of differences including religious affiliation, age, disability status, economic class and lifestyle in addition to gender, race, ethnicity and nationality is: 30) A leader is: 31) Teams that operate separately from the regular work structure and exist temporarily are known as: 32) __________ is the process of working with people and resources to accomplish organizational goals. 33) An organization that is managed aggressively and has growth and high profits as primary objectives may be considered a(n): 34) A manager's ability to stimulate people to be high performers is referred to as: 35) A series of quality standards developed by a committee working under the International Organization for Standardization to improve total quality in all businesses for the benefit of both producers and consumers is: 36) Having individuals actually do the job they are applying for as a test to see if they can do it is __________. 37) The basic components of an effective sexual harassment policy include the following EXCEPT: 38) The best way for an employer to find out if a potential employee can do a job is by __________.