This quiz works best with JavaScript enabled. Home > Economics > Macroeconomics > Business Cycles > Business Cycles – Quiz 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Cycles Quiz 6 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Business Life Cycle StagesStage 4-When an owner decides whether to continue growing the business and how to finance growth. A) Pivot or Persist. B) Survival. C) Exit Plan Stage. D) Take-Off Stage. E) Resourse Maturity Stage. Show Answer Correct Answer: D) Take-Off Stage. 2. Which of the following is NOT an influence on the business cycle? A) External shocks. B) Speculation and "bubbles". C) Fiscal policy of the government. D) Net national income. Show Answer Correct Answer: D) Net national income. 3. Which of the following types of authority gives the supervisor the right to direct the work of his or her employees without consulting others? A) Line authority. B) Staff authority. C) Functional authority. D) Department authority. Show Answer Correct Answer: A) Line authority. 4. A(n) ..... is a systematic grouping of individuals which has been brought together to accomplish a goal. A) Informal structure. B) Organization. C) Concord. D) Affiliation. Show Answer Correct Answer: B) Organization. 5. Keith lost his job at his company's telephone switchboard when the company installed an automated phone system. Which type of unemployment did Keith experience? A) Frictional. B) Structural. C) Seasonal. D) Cyclical. Show Answer Correct Answer: B) Structural. 6. You work for a clothing manufacturer that has excessive inventory. You have been laid off until things pick up. A) Frictional. B) Structural. C) Cyclical. D) Seasonal. Show Answer Correct Answer: C) Cyclical. 7. When you are out of work because you have been replaced by a robot ..... that is ..... A) Structural (Technological Unemployment). B) Structural Unemployment. C) Institutional Unemployment. D) Frictional Unemployment. Show Answer Correct Answer: A) Structural (Technological Unemployment). 8. Sarah is a forty year old investment banker who was laid off six months ago. She decided to switch careers and has spent those six months figuring out what to do next instead of applying for jobs in the banking industry. A) Structurally Unemployed. B) Employed. C) Fictionally Unemployed. D) Not a part of the labor force. Show Answer Correct Answer: C) Fictionally Unemployed. 9. This type of inflation results from an consumers wanting more products than are produced. A) Cost push inflation. B) Demand pull inflation. C) Divisional inflation. D) Structural inflation. Show Answer Correct Answer: B) Demand pull inflation. 10. Inflation Rate = A) CPI Current Year-CPI of Previous Year/CPI of Previous Year X 100. B) CPI of Base Year-CPI of Current Year/CPI of Current Year X 100. C) PPI / CPI X 100. D) PPI X CPI / 100. Show Answer Correct Answer: A) CPI Current Year-CPI of Previous Year/CPI of Previous Year X 100. 11. A business-to-business commercial transaction between businesses. A) B2C. B) WHOLESALE. C) B2B. D) RETAIL. Show Answer Correct Answer: C) B2B. 12. The process of increasing the amount of capital per worker. A) Saving. B) Savings Rate. C) Technological Progress. D) Capital Deepening. Show Answer Correct Answer: D) Capital Deepening. 13. Which component of GDP? The construction of roads by the government. A) Consumption. B) Government spending. C) Investment (in physical capital). D) Net Exports. Show Answer Correct Answer: B) Government spending. 14. "Dunder Mifflin Corporation Fires 5, 000 Employees" This headline affects which economic indicator the most? A) Consumer Price Index. B) Consumer Spending. C) Unemployment rates. D) Inflation. Show Answer Correct Answer: C) Unemployment rates. 15. The consumer price index is commonly used to check the economy for signs of inflation. A) True. B) False. Show Answer Correct Answer: A) True. 16. Which option is considered to be an economic goal for a country? A) Increasing poverty. B) Decreasing GDP. C) Reducing inflation. D) Increasing employment. Show Answer Correct Answer: D) Increasing employment. 17. Calculated in GDP? A consumer purchases a used vinyl album. A) Yes. B) No. Show Answer Correct Answer: B) No. 18. GDP does not include A) Sales of used cars. B) Business investment. C) Government expenditures. D) Niether exports nor imports. Show Answer Correct Answer: A) Sales of used cars. 19. Business Life Cycle StagesStage 2-Income and customers begin to grow A) Existence. B) Survival. C) Success Stage. D) Take-Off Stage. E) Resourse Maturity Stage. Show Answer Correct Answer: B) Survival. 20. Which of the following types of authority allows input and suggestions from additional staff memebers, but does not guarantee implementation? A) Department authority. B) Staff authority. C) Functionalauthority. D) Employer authority. Show Answer Correct Answer: B) Staff authority. ← PreviousNext →Related QuizzesMacroeconomics QuizzesEconomics QuizzesBusiness Cycles Quiz 1Business Cycles Quiz 2Business Cycles Quiz 3Business Cycles Quiz 4Business Cycles Quiz 5Business Cycles Quiz 7Business Cycles Quiz 8Business Cycles Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books