BUS 475 Week 2 Knowledge Check

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1. Compared with other approaches to business, the marketing concept is

distinct in that it

focuses on sales

produces new products and services

creates a broad assortment of products

focuses on satisfying customers' needs

2. A company provides its advertising agency with a statement about a new

product to use in designing an advertising campaign, and this statement
includes a description of the target market, the product type, the primary

benefits of using the product, and how this product is different from, and better
than, competitive products. What type of statement is this?

Qualifying

Positioning

Determining

Clustering

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3. The sales analysis of a product revealed that profits were highest when it was
initially introduced into the market with a high selling price. However, the price
was gradually reduced as it started facing competition as substitutes entered
the market. This is an example of a(n)

introductory price dealing

temporary price cut policy

skimming price policy

penetration price policy

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BUS 475 Week 2 Knowledge Check

4. Blending the firm's promotion efforts to convey a complete and consistent

message is the goal of

sales management communications

sales promotion communications

integrated promotional marketing

integrated marketing communications

5. According to the concept of social responsibility, a firm has a duty to

communicate regularly with the public

place profit above all other considerations

place customer satisfaction above all other considerations

conduct business in a way that is good for society as a whole, both now and for
the future

6. The principal participants in the financial markets are

businesses, banks, and government

borrowers, savers, and financial institutions

mutual funds, hedge funds, and investment bankers

dealers, brokers, and regulators

7. You just purchased a parcel of land for $10,000. If you expect a 12% annual
rate of return on your investment, how much will you sell the land for in 10
years? Note. Due to rounding and method of calculation, your answer might vary
slightly. Choose the closest answer.

$25,000

$31,060

$38,720

$34,310

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8. Bull Gator Industries is considering a new assembly line costing $6,000,000.

The assembly line will be fully depreciated by the simplified straight line method
over its 5-year depreciable life. Operating costs of the new machine are expected
to be $1,100,000 per year. The existing assembly line has 5 years remaining
before it will be fully depreciated and has a book value of $3,000,000. If sold

today the company would receive $2,400,000 for the existing machine. Annual
operating costs on the existing machine are $2,100,000 per year. Bull Gator is in
the 46 percent marginal tax bracket and has a required rate of return of 12
percent. Calculate the net present value of replacing the existing machine. Note.
Due to rounding and method of calculation, your answer might vary slightly.
Choose the closest answer.

$816,000

$382,320

$2,941,680

$-382,320

9. A strong stock market and reasonably good earnings have caused the price of
the firm's common stock to increase by 25%.

This will have no effect on the firm's cost of capital.

All things equal, this will increase the firms cost of capital.

All things equal, this will lower the firm's cost of capital.

This will only affect the cost of capital if the firm uses CAPM to compute the cost
of equity.

10. Buying and selling in more than one market to make a riskless profit is called

profit maximization

arbitrage

international trading

This cannot be determined from the above information.

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11. The United States imposes substantial taxes on cigarettes but not on loose
tobacco. When the tax on cigarettes went into effect, the demand for home
cigarette rolling machines most likely

decreased, causing the price of cigarette rolling machines to fall and the
quantity of machines purchased to fall

decreased, causing the price of cigarette rolling machines to rise and the
quantity of machines purchased to fall

increased, causing the price of cigarette rolling machines to rise and the
quantity of machines purchased to rise

increased, causing the price of cigarette rolling machines to rise and the
quantity of machines purchased to fall

12. Keynes believed that an increase in savings would

raise aggregate demand by reducing investment

raise aggregate demand by increasing consumption

reduce aggregate demand by reducing investment

reduce aggregate demand by reducing consumption

13. Which of the following monetary policies reduces aggregate demand and
output?

cut in the federal funds rate

An open market purchase of government securities

An increase in the discount rate

A cut in the required reserve ratio

14. Deficits may be desirable in the short run if they

help to stabilize the economy when the economy falls below potential output

increase savings necessary for future investment and growth

increase savings necessary for future consumption and demand

help to stabilize the economy when the economy is above potential output

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15. If for a country, the quantity of its currency demanded exceeds the quantity
supplied, then there is a

balance of payments surplus

balance of payments deficit

balance of payments equilibrium

trade balance

16. Suppose that college tuition is higher this year than last year and that more
students are enrolled in college this year than last year. Based on this
information, we can best conclude that

the law of demand is invalid

despite the increase in price, quantity demanded rose due to some other factor
changing

this situation has nothing to do with the law of demand

the demand for a college education is positively sloped

17. Economic efficiency is achieved at a particular output level if

marginal cost is as low as possible

average fixed cost is as low as possible

average total cost is as low as possible

average variable cost is as low as possible

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18. A perfectly competitive firm will be profitable if price at the profit-maximizing

quantity is above

MC

AVC

ATC

AFC

19. How are goods manufactured in other countries creating jobs in the United
States?

People whose jobs were outsourced are now discouraged workers.

U.S. firms are specializing in managing the trade of these goods.

Foreign countries are importing U.S. natural resources

People who have lost jobs have more time to shop and therefore increase
demand for goods.

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BUS 475 Complete Assignment from UOP. Other topics in the class are as follows:

BUS 475 Week 1 Knowledge Check

BUS 475 Week 2 Knowledge Check

BUS 475 Week 4 Knowledge Check

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