NOCTI EXAM

If GDP growth slows for at least ____ quarter(s) in a calendar year, the economy is probably in a recession

2

In the early 1800s the average employee in the United States worked about how many hours per week

60

Wholly owned subsidiary

A firm sets up a business abroad without any partners

Multinational firm

A firm that owns or controls production or services in more than one country

Which of these items would be counted when measuring GDP

A fully assembled washing machine

Limited partnership

A partnership with formation with a least one general partner who has limited liability and at least one limited partner whose liability is limited to his or her investment

Which of the following is an example of a capital project.

A small business purchases two new pickup trucks

John is managing a team, he should tell the team members that

A teams success depends on each person doing his or her part

Which of the following would probably result in a DECREASE in worker productivity

An office replaced its 10 year old computers with brand new machine and the latest software but no training.

Which of the following sentences is grammatically correct

Ann Missed the meeting because she was lying in bed with the flu.

If wages increase faster than gains in productivity, prices will rise, why?

Because the cost of producing goods increases

Chief executive officer

CEO

Chief financial officer

CFO

Chief information officer

CIO

Chief operation offocer

COO

Chief sales officer

CSO

A ______ fire extinguisher should be used on a computer fire

Class C

Ergonomics is the study of implementing safety and ___ in the computers users workplace

Comfort

Two types of business partnerships are cooperative and

Contractual

Company ABC sends an anniversary card to every client on the date they started working with the company. To maintain and electronic record they should use w

Data base

James wants to send a personalized letter to each of his sales clients. To do this, James should use?

Design templates

Consumer goods

Designed for home or personal use

Industrial goods

Designed for use by another company

Fair labor standards act

FLSA, regulates wages paid and hours worked

Unemployment insurance

FUTA AND SUTA

During periods of deflation, prices drop so demand increases greatly

False

In the United States, all people above the age of 21 who do not have a full time, paying job are considered unemployed

False

One component of gross domestic product is the value of a country's exports plus the value of imports into a country

False

Stanley receives a monthly social security check from the US government. This would not be counted when measuring Stanley's personal income

False

The money for capital projects comes from three main sources: investments, bonds and personal savings.

False

A _______ such as .docx, indicated the file type.

File Extension

What's a balance sheet

Financial relationship

Strategic alliances

Firms agree to cooperate on certain aspects of business while remaining competitors on their aspects

A business letter in which all the lines begin flush with the left margin is in ______ style.

Full Block

Dividing GPD by the total population of a country results in that country's

GDP per capita

The main purpose of an effective performance evaluation is to

Help workers develop their strengths and work on their weaknesses

The main purpose of an effective performance evaluation is to

Help workers develop their strengths and work on their weaknesses.

Which of the following is not a characteristic of a depression

High demand for goods and services

Shopping goods

High priced and require thought

Convenience goods

Inexpensive and purchased regularly

A ______ is a network of computers within a business or organization.

Internet Service Provider

IC3- Module 1- , what is an ISP?

Internet Service Provider

Uniform unlimited partnership act

Is a certificate of limited partnerships must be filed in your state

The money people deposit in banks and other financial institutions

Is lent to businesses to fund capital projects

Inflation

Is the most harmful to people living on fixed incomes

All of the following people are part of the labor force except

Lindsay, a stay at home mom with 2 kids.

What roles do managers do?

Managers plan, organize, implement, and control the resources, the people, money, equipment, materials and facilities.

The space between the edge of the paper and the place where text starts is called the

Margins

Unsought goods

No strong need for, (impulse buy)

An example of non verbal communication is

Nodding

The government organization whose purpose is to set and enforce the work site safety and health standards is

OSHA

GDP measures a country's economic output during

One year

An example of active listening skills is

Paraphrasing what has been said

A good way to develop additional business related career skills is to

Participate in available education classes

The interest rate banks charge their best business customers is the

Prime rate

What is it called when an employee makes a list of tasks, determines due dates and ranks tasks by importance

Prioritizing

What are the four p's

Product, promotion, pricing and place

_____ occurs at the peak of the business cycle

Prosperity

The best way to motivate workers to do a good job is

Providing positive feedback to reinforce what they do correctly

A mission statement describes an organizations

Purpose or goal

To be a good team leader, it is important to

Recognize the strengths of others

Specialty goods

Searched until found

If you purchase a corporate or government bond, you are a

Stockholder

___ are used to apply a collection of formatting settings to characters or paragraphs.

Styles

When a company sends a packet of information and forms prior to the interview, be sure to

Take the entire packet with you to the interview

Robert is a new employee and has joined a work team for the company. What is the best way the other team members can help Robert to participate meaningfully in the team discussion

Tell Robert the ground rules the team has created to guide the meetings and explain what the group has done in recent meetings

The business cycle refers to

The repeated movement from good economic times to bad and back.

A recession often affects some groups of workers in related businesses. The drop in related businesses is called

The ripple effect

The major influence on the level of interest rates is

The supply and demand for money

GDP does not include

The value of the work you do for yourself

If a business conducts a SWOT analysis to decide whether or not to expand, which of the following would be categorized as an O.

There is the potential for increased profits.

What do you need to be a effective manager?

To be a effective manager they need to, Demonstrate commitment to success of organizations Take responsibility for developing and implementing Plans to achieve goals Identify resources Organize, coordinate work to get effective operations Recognize the importance of employees Monitor activities and results

Caps lock is a key that allows you to _____ (or switch back and forth) between uppercase and lowercase letters.

Toggle

An ability to produce more goods and services in less time makes it possible to reduce the number of hours in a workweek

True

Business cycles are the recurring ups and downs of gross domestic product

True

Economic growth refers to a steady increase in the production of goods and services in an economic system

True

Mikayla is a 14-year old student. She would not be considered part of the labor force in the United States

True

The more goods and services produced, the healthier an economy is considered to be

True

Joint ventures

Two or more firms share the costs of doing business and also share profits

Suppose wages are going up faster than prices. What is the most likely effect

Unemployment will worsen because businesses will tend to hire few more workers

Retail sales

Usually remain stable, indicate general consumer spending patterns in the economy, and include the sales of services bought by businesses.

Ms. Jamison applies for a job at ABC company and indicate that she has completed a college degree. Discovering that she attended college but she did not complete the degree, the company has concerns about her

integrity

The term for research to determine factors, conditions, and characteristics of a market is

market analysis

A CEO urges employees to buy stock in the company and then sells his or her personal stock because of a coming change that will likely drop the stock prices

unethical behaivor