PoB Objective Exam 3

Which of the following is an example of a business paying property taxes:

B Co. sends $8,792 to the gov., based on office value.

Which of the following is a true statement about currency exchange rates:

Currency exchange rates change frequently

Which of the following is not an example of a business process

Employees responding to emails with a personalized message

Which of the following is a decision about production based on law of diminishing returns

Establish a desired level of production

Many different workers carry out the steps in processing milk before it can be distributed

This is an example of specialization by stages of production

To calculate total revenue, a business multiples the number of unit sold by

average price per unit

The payment of taxes to the federal gov't. allows it to provide goods and services to ___ & ___

businesses and households

In an interview, if you are asked to discuss something bad about your self, you should add...

but what I learned from that is...

The use of robots in assembly-line work is a form of specialization involving

capital goods

A manager's allowing employees to set the pace of work is an example of providing jobs

enrichment

When consumers purchase gasoline or tobacco products, they must often pay a(n) ___________ tax.

excise

Which of the following is important information to consider whether to increase production

marginal cost

The addition of too many workers on a job may cause the marginal product to turn

negative

When applying the law of diminishing returns, there is a point at which production

reaches its maximum level