Money is
A) anything backed by credit cards.
B) any durable good.
C) anything declared by law to be a general medium of exchange.
D) anything people use as a general medium of exchange.
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Fourteen-year-old Jonah comes from an abusive household and has been saving up money so that he can escape the situation. He leaves and heads to a shelter for runaways where he spends several months while looking for work. What kind of runaway is Jonah?
A) Transferred B) Intent
C) Transient D) Unintentional
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A story that may make the evening news one day but not another could be the victim of
A) inverted pyramid.
B) seditious libation.
C) tug-of-war.
D) news flow.
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At what stage in the decision-making process would managers be most likely to seek customer or market opinion?
A) when identifying problems
B) when generating alternative solutions
C) when evaluating the alternatives
D) when choosing the best plan of action
E) when implementing the plan of action
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Answer
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D) There are five stages in the decision-making process. First the problem is identified. Then managers must generate alternative solutions. After generating them, managers must evaluate the alternatives. Once the alternatives have been evaluated they choose the best plan of action. The final step is to evaluate the decision. It is at the stage of choosing the best plan of action that management may seek customer or market opinion on the chosen plan of action before committing to it.
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According to Vroom's model, instrumentality answers which of the following questions?
A) Does my working harder lead to a positive outcome for myself?
B) How good will I feel if I can accomplish this task?
C) How good will my reward be for my noteworthy performance level?
D) How serious a punishment do I expect if I do not perform well?
E) Does my working harder not make a difference?
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Answer
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B) Vroom's model of expectancy theory holds that motivation = expectancy x instrumentality x valence. Instrumentality is the idea that the outcome of a situation is related to rewards or punishment. Extrinsically motivated employees will focus on material or verbal rewards. Intrinsically motivated employees will focus on their feelings regarding personal achievements.
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Despite their benefits, traditional pyramidal management has been criticized as being ________.
A) top-heavy
B) inflexible
C) uneconomical
D) impersonal
E) too vague
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Answer
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B) By the early 1990s traditional pyramidal management structures were criticized as being overspecialized, fragmented, and inflexible. This business structure had survived successfully for a century and was not considered top-heavy or uneconomical. Any business setting can be considered impersonal, however, this is not one of the particular characteristics of the pyramidal structure.
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According to Vroom's model, which psychological force answers the question, "How great a reward will there be if my performance is exemplary?"
A) expectancy
B) instrumentality
C) valence
D) resonance
E) enthusiasm
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Answer
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C) Vroom's model of expectancy theory holds that motivation = expectancy x instrumentality x valence. Valence is the importance an individual places on the expected outcome of a situation.
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An economic system in which private owners operate businesses for profit is called
A) socialism.
B) capitalism.
C) fascism.
D) new-world economics.
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An industry dominated by a few companies is called
A) a monopoly.
B) conglomerated.
C) an oligopoly.
D) saturated.
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In the early 1960s, Abraham Maslow, along with Carl Rogers and Rollo May, argued that it was time for a
third force in psychology because the two dominant psychological approaches of the time were inadequate
in explaining the full depth of human potential. What were the two dominant approaches? Incorporate the
humanist approach discussed in Chapter One (What Is Psychology) with the hierarchy of needs found in
Chapter Twelve. Draw a picture of a pyramid and write the need found at each level.
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