Test Bank For Foundations of Business by William M. Pride, Robert J. Hughes, Jack R. Kapoor 8th Edition Chapter 1-16
Chapter 1
True / False 1. As the founder of an American business firm, Peter Jenkins can, within certain limits, produce and/or sell any product he chooses and sell it at any price it sets. a. True b. False ANSWER: True 2. After getting her bachelor's degree in business, Brit Jackson realized she was much more productive at her job than she had been before. Brit's degree helped her to become a better employee. a. True b. False ANSWER: True 3. Sony is most correctly classified as a marketing intermediary type of business. a. True b. False ANSWER: False 4. How the price of homes affects the number of homes built and sold would be an economic issue studied in a Macroeconomics course. a. True b. False ANSWER: False 5. When a business distributes profits to business owners, these profits become household income and are removed from the circular flow of the economy. a. True b. False ANSWER: False 6. Real gross domestic product is an economic measure that has been adjusted for price increases of goods and services during a given period of time. a. True b. False ANSWER: True 7. The consumer price index (CPI) and the producer price index (PPI) actually measure the same economic factors. a. True b. False ANSWER: False