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Management (MGT)

University Of Toronto at Scarborough MGTA03 - Introduction To Management I Mid-Term Test November 5, 2010 MULTIPLE CHOICE QUESTIONS BOOK VERSION 1 Family Given Name (Please print NEATLY) Name Student Number INSTRUCTIONS 1. On the SCANTRON answer sheet: PRINT your family name, PRINT your given name PRINT your student number 2. On the SCANTRON answer sheet fill in all the appropriate bubbles corresponding to your name, fill in all the appropriate bubbles corresponding to your student number 3. Instructions 1 and 2 (above) are an integral part of the examination. Failure to comply with these simple instructions causes additional work, delay and confusion. If you fail to complete the relevant sections of the SCANTRON sheet correctly and fully, you will have 5 marks deducted from your grade on this exam! 4. When recording your answers on the SCANTRON sheet, make sure you: a) Use a pencil b) Fill in the SCANTRON bubbles neatly and completely c) Erase any changes as completely as possible d) Be very careful to place each answer in the correct space 5. You have 90 minutes to write the exam. This booklet consists of 41 multiple-choice questions. Page 1 of 10 MGTA03 Fall 2010 Mid-Term Test November 5, 2010 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) What is the version of the exam you are writing? (Correct Answer is A) A) Version 1 B) Version 2 2) The number of Canadians employed by small businesses is approximately: A) 10% of the total workforce B) 20% of the total workforce C) 50% of the total workforce D) 98% of the total workforce 3) A public corporation is one whose shares are: A) available for sale through a stock exchange B) chartered by the federal government C) owned by all taxpayers in a country D) owned by the government, hence "public" E) widely held, so there is no majority shareholder 4) Which of the following would be included in the gross domestic of Canada A) the profits earned by a Canadian-owned automobile plant in Brazil B) the wages paid to Peruvian workers producing coffee for a Canadian company C) the wages paid to Brazilian workers producing coffee for sale in Canada D) the profits earned by a Brazilian coffee company operating in Canada 5) Five students wish to start a new business called Computers-B-Us. Each student is prepared to invest the same amount and wants to share equally in the profits and management, while limiting their liability. They would most likely start their business as a: A) private corporation B) public corporation C) sole proprietorship D) limited partnership E) general partnership 6) Advantages of the corporation as a form of business organization do not include: A) the guarantee of fixed dividends B) continuity C) limited liability D) ease of raising capital E) ability to hire professional managers Version 1 Page 2 of 10MGTA03 Fall 2010 Mid-Term Test November 5, 2010 7) Inflation rates in Africa for 2007 cover a wide range. They run from -8.8% in Chad to 10,453% in Zimbabwe. This means that in 2008: A) Cash payments in the local currency in Chad must be spent immediately to be of any value B) What cost 1 pound sterling in Zimbabwe in 2007 costs 10,453 pounds sterling in 2008 C) Workers in Zimbabwe want to be paid in pounds sterling instead of Zimbabwe dollars D) Consumer prices rose in Chad last year E) There is a lively international trade in Zimbabwe dollars 8) Which one of the following is not a characteristic of an oligopoly? A) great product differentiation B) prices differ greatly C) few sellers D) many buyers 9) Of the following, which is a way in which monopolistic competition differs from perfect competition? A) There are more sellers in a market characterized by monopolistic competition. B) It is easier f
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