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MGT402 - MCQ - Ch01-03 Page 1 of 2 MGT402 – Entrepreneurship and small business MCQ Ch01-03 1. ________ is the ability to develop new ideas and to discover new ways of looking at problems and opportunities. A) Showboating B) Commoditizing C) Innovation D) Creativity 2. ________ is the ability to apply creative solutions to problems and opportunities to enhance or to enrich people's lives. A) Showboating B) Commoditizing C) Creativity D) Innovation 3. For entrepreneurs, simply having a great new idea is not enough; transforming the idea into a ________ product, service, or business venture is the next step. A) plausible B) legible C) intangible D) tangible 4. Some small businesses create innovations ________ in response to customer feedback or changing market conditions. A) responsibly B) compassionately C) reactively D) proactively 5. Some small businesses create innovations ________ by spotting opportunities on which to capitalize. A) responsibly B) compassionately C) reactively D) proactively 6. Innovation is ________ when it creates market-changing, disruptive breakthroughs that are the result of generating something from nothing. A) mandatory B) perfunctory C) evolutionary D) revolutionary MGT402 - MCQ - Ch01-03 Page 2 of 2 7. More often, innovations are ________. A) evolutionary B) revolutionary C) proactive D) All of the above 8. The iPod is an example of a ________ innovation. A) revolutionary B) evolutionary C) proactive D) perfunctory 9. ________ thinking is going from one logical conclusion to the next. A) Vertical B) Lateral C) Simultaneous D) Parallel

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Quiz 5: VERSION A Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) What makes the Federal Reserve so unique compared to other central banks around the world is its _________. A) decentralized structure. B) monetary policy functions. C) regulatory functions. D) centralized structure. 2) Which of the following is an entity of the Federal Reserve System? _________ A) The FDIC B) The U.S. Treasury Secretary C) The FOMC D) The Comptroller of the Currency 3) The Federal Reserve Banks are ________ institutions since they are owned by the ________. A) quasi-public; Board of Governors B) public; private commercial banks in the district where the Reserve Bank is located C) public; Board of Governors D) quasi-public; private commercial banks in the district where the Reserve Bank is located 4) The nine directors of the Federal Reserve Banks are split into three categories: ________ are professional bankers, ________ are leaders from industry, and ________ are to represent the public interest and are not allowed to be officers, employees, or stockholders of banks. A) 5; 2; 2 B) 4; 2; 3 C) 3; 3; 3 D) 2; 5; 2 5) Member commercial banks have purchased stock in their district Fed banks; the dividend paid by that stock is limited by law to ________ percent annually. A) four B) five C) six D) eight 6) The Federal Reserve Bank of ________ plays a special role in the Federal Reserve System because it houses the open market desk. A) New York B) San Francisco C) Boston D) Chicago 7) Members of the Board of Governors are _________. A) appointed by the president of the United States and confirmed by the Senate. B) chosen by the Federal Reserve Bank presidents. C) never allowed to serve more than 7-year terms. D) appointed by the newly elected president of the United States, as are cabinet positions. 8) The Federal Reserve entity that makes decisions regarding the conduct of open market operations is the _________. A) Federal Open Market Committee. B) Board of Governors. C) Open Market Advisory Council D) chairman of the Board of Governors. 9) The Federal Open Market Committee consists of the _________. A) seven members of the Board of Governors and seven presidents of the regional Fed banks. B) five senior members of the seven-member Board of Governors. C) seven members of the Board of Governors and five presidents of the regional Fed banks. D) twelve regional Fed bank presidents and the chairman of the Board of Governors. 10) The case for Federal Reserve independence does not include the idea that ________. A) political pressure would impart an inflationary bias to monetary policy. B) policy is always performed better by an elite group such as the Fed. C) a politically insulated Fed would be more concerned with long-run objectives and thus be a defender of a sound dollar and a stable price level. D) a Federal Reserve under the control of Congress or the president might make the so-called political business cycle more pronounced. 11) Recent research indicates that inflation performance (low inflation) has been found to be best in countries with ________. A) a policy of always keeping interest rates low. B) money financing of budget deficits. C) political control of monetary policy. D) the most independent central banks. 12) The three players in the money supply process include A) banks, depositors, and borrowers. B) banks, depositors, and the central bank. C) banks, borrowers, and the central bank. D) banks, depositors, and the U.S. Treasury. 13) Both ________ and ________ are Federal Reserve assets. A) securities; reserves B) currency in circulation; reserves C) securities; loans to financial institutions D) currency in circulation; securities 14) The monetary base consists of ________. A) currency in circulation and the U.S. Treasury's monetary liabilities. B) currency in circulation and reserves. C) currency in circulation and Federal Reserve notes. D) reserves and Federal Reserve Notes. 15) Total reserves are the sum of ________ and ________. A) required reserves; currency in circulation B) excess reserves; borrowed reserves C) excess reserves; required reserves D) vault cash; excess reserves

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3/20/2020 Chapter 10 - Homework Assignment https://mybusinesscourse.com/platform/mod/quiz/review.php?attempt=3445610&cmid=114575&page=2# 2/2

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1 MGT422 Test Bank – MCQ 01-11 Abu Nuran CHAPTER 01 1. _________ students may need more ethics training because research has found that they rank lower in moral reasoning than other students. a) philosophy b) political science c) business d) medicine Ans: c 2. Ethical behavior can be influenced by: a) an individual’s religion b) an organization’s culture c) ethical training d) an individual’s personality e) all of the above Ans: e 3. According to the authors, ethical behavior is defined as: a) a set of moral principles or values that guide an individual b) rules of behavior set by the Federal government c) principles, norms, and standards agreed upon by society d) none of the above Ans: c 4. Which of the following statements is true? a) “Bad apples” are just a few i ndividuals who spoil it for the rest of us. b) Employees’ good behavior can be spoiled by a “bad barrel.” c) Ethics cannot be taught because individuals come into an organization already as a “bad apple.” d) “Bad barrels” are caused by “bad apples” in an o rganization. Ans: b 5. In this book, the authors focus on _____________ factors because ____________: a) individual; these factors are the main determinant of unethical behavior b) organization; these factors can be directly controlled by managers c) individ ual; a few “bad apples” spoil it for the rest of us d) organization; these factors are particularly important in unambiguous situations Ans: b 2 6. According to a national opinion survey, identify the goal that employees did not rank in the top five? a) Honest company communications b) Good pay c) Respectful treatment d) Ethical corporate behavior Ans: b CHAPTER 02 21. The ___________ approach to ethical decision making focuses on how people actually make ethical decisions. a) prescriptive b) descriptive c) illustrative d) regulatory Ans: b 22. The ___________ approach to ethical decision making focuses on what decision an individual should make. a) prescriptive b) descriptive c) illustrative d) regulatory Ans: a 23. The prescriptive approach is to ____________ as the descriptive approach is to _____________. a) psychology; philosophy b) philosophy; psychology c) would; does d) none of the above Ans: b 24. The ___________ states that an ethical decision should maximize benefits to society and minimize harms. a) principle of value b) theory of cost-benefit analysis c) principle of efficacy d) principle of utility Ans: d

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