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MGTA01H3 Study Guide - Midterm Guide: Scantron Corporation, Monopolistic Competition, Government SpendingExam

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Bill Mc Conkey
Study Guide

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Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada Page 1
MGTA01 – Introduction to Management I
Professor Bill McConkey
June 22, 2014 @11am
Multiple Choice Booklet
Family Name: _________________________ First Name: __________________________
Student Number: ___________________________
1. On the Scantron answer sheet, you must
PRINT your family name,
PRINT your given name
PRINT your student number
2. On the Scantron answer sheet, you must
fill in all the appropriate bubbles corresponding to your name,
fill in all the appropriate bubbles corresponding to your student number
Instructions 1-2 (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
follow the above instructions (1-2), you will have 5 marks deducted from your grade on this exam!
4. NO AIDS (i.e. calculators) are allowed.
5. When entering your answers on the Scantron sheet:
Use a medium (HB) pencil
Fill in the bubbles neatly and completely
Erase any changes as completely as possible
Be very careful to place each answer in the correct place
6. This booklet consists of 30 multiple choice questions.
7. Total time for the exam is 90 minutes. No extra time will be provided for bubbling your scantron.
8. This booklet consists of 7 numbered pages, including this one. Please check that you have all the

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MGTA01 Midterm – June 2015
Management, 1265 Military Trail, Toronto, ON, M1C 1A4, Canada Page 2
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the
1) During a recession, which of the following problems is most likely to hurt a sole proprietorship?
a) sole proprietorships have higher cost structures than corporations or partnerships
b) sole proprietorships have lower sales per employee than other forms of business
c) sole proprietorships have a harder time retaining key employees because of limited promotional
d) sole proprietorships have less access to various sources of capital than other forms of business.
2) You are considering taking over your family's small business. You may encounter:
a) disputes about control.
b) difficulties in pricing it when it is passed from parent to child.
c) conflicting priorities.
d) all of the above.
e) none of the above.
3) Which of the following would be included in the gross domestic product of Canada?
a) the profits earned by a Canadian-owned software developer in Russia
b) the wages paid to Russian workers producing software for a Canadian company
c) the wages paid to Russian workers producing software for sale in Canada
d) the wages paid to software developers working for a Russian software company
operating in Canada
4) Unemployment is the level of joblessness among
a) people actively seeking work in an economic system.
b) people over the age of 18 and under the age of 65 in a given economic system.
c) people who have been previously employed in an economic system.
d) people over the age of 18 within a given economic system.
5) In an oligopoly, when one firm reduces its prices, how do the other firms of the industry react?
a) There is no reaction by any of the other firms.
b) Others may reduce their prices too, but very gradually over time.
c) Others tend to reduce theirs also, usually quite quickly.
d) Others engage in a spiraling price war.
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