BT- Ch-3,4&5

When completing an application form to purchase financial services from a bank, you are requested to check/tick a box if you wish to receive details of other products sold by the bank and their associates.

Which principle of data protection does this example refer to?

• 1. Data should be accurate and kept up to date

• 1. Data shall be adequate, relevant and not excessive

• 1. Personal data shall not be kept longer than necessary

• 1. Personal data shall be processed fairly and lawfully

Which of the following includes only valid examples of the seven rights of individuals regarding information that is stored about them?

• 1. Right to: take action to rectify, block, erase or destroy personal data; prevent processing for direct marketing; prevent decisions against an individual by purely automated means

• 1. .Right to: receive notification each time data about them is amended; take action to destroy personal data; prevent processing for direct marketing; inspect data in situ in their home country

• 1. Right to: seek compensation; travel abroad to inspect personal data; inspect personal data in situ in their home country; take action to destroy personal data

• 1. Right to: destroy hardware holding personal data; inspect personal data where it is held in their home country; seek compensation; prevent processing for direct marketing

Government policies can have a long-term impact on an organisation

Which of the following policies would be likely to have an impact on a petrochemical company?

1. 1. Environmental policies

2. 2. Educational policies

3. 3. Defence policies

• 1. 1 only

• 1. 1 and 2

• 1. 1, 2 and 3

• 1. None of these policies would affect this type of company

The European Union, the World Trade Organisation and the International Court of Justice are all examples of what type of organisation?

• 1. Supra-national bodies

• 1. Cross-border international bodies

• 1. International law and regulation enforcement bodies

• 1. Delegated legislative bodies

Which of the following principles is usually recommended for inclusion in legislation on data protection?

• 1. The data user should provide the data subject with regular and detailed information on the data held

• 1. All personal data held by data users should be updated by checking this data with the subject at regular intervals

• 1. All personal data held by data users should be adequate for the purposes of the data user but not excessive

• 1. All personal data held by data users should be reviewed regularly and automatically deleted after a specified period of time

1. Gross domestic product (GDP) is a measure of total economic activity.

   If:

   C = Consumption spending

   I = Investment spending

   G = Government spending

   X = Exports

   M = Imports

2. How is GDP calculated?

• 1. GDP = C+ I + G +(X-M)

• 1. GDP = C+ I + G +(X+M)

• 1. GDP = C+ I + G - (X+M)

• 1. GDP = C × I × G × (X-M)

Supply-side economics is an approach that can be used to manage the economy.

Which of the following is NOT an example of supply-side economics?

• 1. Reducing income taxes

• 1. Improving the skills of the workforce

• 1. Reducing the power of trade unions

• 1. Increasing government spending

Business cycles refer to the continual sequence of rise and fall in the national income of a country.

Which TWO of the following statements about business cycles are TRUE?

1. 1. Levels of customer demand will be low in a recession

2. 2. Prices of goods are generally higher during a recession

3. 3. Supply of goods will rise during a recession

4. 4. Unemployment is lowest during a boom

• 1. 1 and 4

• 1. 2 and 3

• 1. 1 and 3

• 1. 2 and 4

Inflation will have many effects on the economy of a country.

Which ONE of the following best describes the impact inflation is likely to have on the international trade of a country?

• 1. The value of the currency will fall, imports will be cheaper

• 1. The value of the currency will fall, imports will be more expensive

• 1. The value of the currency will rise, imports will be cheaper

• 1. The value of the currency will rise, imports will be more expensive

Country X is experiencing a recession and overall levels of unemployment are on the rise. However, one category of unemployment is falling during the recession.

Which of the following types of unemployment is most likely to fall during a recession?

• 1. Structural

• 1. Frictional

• 1. Cyclical

• 1. Seasonal