True or False questions that im not sure on how to answer them the first one i think is true?

[sk83104]

TF
______1.According to Adam Smith, the "invisible hand" refers to the government's effort to always keep a check on the wealth creation of individuals, so that no one business would control a market for a particular good or service.

______2.In any given year, the United States' cash outflow to other nations exceeds its cash inflow from other nations.

______3.When it comes to ethics and social responsibility, the public's perception of a firm is as important as what the firm does.

______4. Revenue is the amount a business earns above and beyond what it spends for expenses and costs.

______5."Do what I say, not what I do" can be an effective code of conduct to instill corporate values.

______6.Outsourcing means selling goods and services to people in other countries.

______7.The only real purpose of a business is to make money for entrepreneurs.

______8.One reason countries trade with other countries is that even technologically advanced nations cannot produce all the products their people want and need.

______9.An advantage of licensing is that licensors spend little or no money to produce and market their products. These costs are born by the licensees.

______10.People living in San Jose, CA on average earn more money than people living in St. Louis, MO. The citizens of San Jose enjoy a higher standard of living than the citizens of St. Louis.

______11.Ethical behavior requires more than following the law.

______12.The total value of a country's output of final goods and services in a given year is known as the gross domestic product (GDP)

______13.Fiscal policy refers to the federal government's efforts to keep the economy stable by controlling the amount of money in circulation.

______14.When the government attempts to stabilize the economy by changing taxes or government expenditures, it is using fiscal policy.

______15.The growth in the service sector in the United States appears to be giving way to an information-based global era.

______16. Profit is the amount of money a business earns above and beyond what it spends for salaries and other expenses.

______17.A monopoly occurs when there is a single seller for a product or service.

______18.A corporate policy should never make a value statement about the environment or other social and political issues, because it is doubtful the company can live up to the proclamation.

______19.Corporate values, like personal values, are learned by observing what others do.

______20.Making ethical choices is always easy.

______21.An exchange rate is the value of one nation's currency relative to the currencies of other nations.

______22.The only way a firm can increase its profits is to increase its sales revenue.

______23.After finishing college, Nathan joined his uncle's company in Miami, FL, a company that buys bauxite, copper, and other minerals from the country of Chile, and brings them into the U.S. Everyday, he brokers trades with mines in Chile. His uncle's company is in the export business.

______24.America's business success is largely due to an economic and social climate that allows businesses to operate freely.

______25.Microeconomics focuses on the decisions and behavior of people and organizations in particular markets.

[Amateurjudge237]

1 True
2.False
3.False
4.True
5.True
6.True
7.True
8.True
9.False
10.False
11.True
12.False
13.True
14.True
15.True
16.True
17.True
18.False
19.True
20.False
21.True
22.True
23.False
24.True
25.False