Chapter 6 Marketing Apps

A disadvantage to companies of unionization is that

• the union discourages recruitment.

• job promotions are based on seniority rather than ability.

• the cost of union dues can be expensive.

• the labor contract is insecure.

What technique is a company using to combat the disadvantages of labor specialization when it expands job tasks to include other like tasks?

• Increasing job scope

• Motivation

• Job rotation

• Increasing job depth

Which of the following is most likely to result from specialization of labor:

• Decreased training time

• Increased training time

• Decreased production rates

• Decreased skill level

A worker who sorts all of a business’s mail every day is performing a task that has

• high depth and high scope.

• low depth and high scope.

• low depth and low scope.

• high depth and low scope.

Which of the following factors characterizes the growth phase of business cycles:

• producers are reducing their purchases of new goods.

• Consumers are putting more money into savings.

• Consumers and producers are borrowing more money.

• Demand for resources exceeds their availability.

During which phase of the business cycle would there most likely be shortages of workers in certain skill areas?

• Contraction

• Trough

• Expansion

• Peak

What will probably result if aggregate demand continues to grow, and production cannot meet the demand?

• Trough

• Inflation

• Depression

• Decreased production

The total quantity of money existing in a nation at one time is known as the

• gross domestic product.

• aggregate demand.

• dividends.

• money supply.

“Too much cash chasing too few goods” is a description of

• demand-pull inflation.

• cost-push inflation.

• hyperinflation.

• deflation.

Which of the following is a true statement regarding hyperinflation’s effect on businesses:

• Hyperinflation lowers interest rates, making business expansion easier.

• Hyperinflation is good for businesses because prices go up

• Hyperinflation makes running a business more difficult and unpredictable.

• Hyperinflation raises the value of the products a business exports.