Free CIMAPRA17-BA1-1-ENG Practice Exam Questions Online

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Total 471 Questions | Updated On: Nov 21, 2024

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Question 1

Globalization will have all the following effects on businesses except one. Which ONE is the exception?

A : Access to cheaper sources of supply in emerging economies

B : Increased competition on world markets for manufactured goods

C : Decreased international transportation and communications costs

D : The ability to shift production to low cost locations

Answer: C

Question 2

Based on historical time series data, a chemicals company uses sales ($million) as the y variable and time (year) as the x variable and equation.

y = - 3935 47 + 2 02x

Using the equation, what is the company's predicted sales for the year 2020? Give your answer to the nearest million.

A : $15 million

B : $25 million

C : $35 million

D : $45 million

Answer: A

Question 3

Every year a household allows its bank account to become overdrawn for 3 months to pay for its annual holiday. Which one of the following statements correctly describes this?

A : A short term lack of synchronization between payments and receipts

B : Long term borrowing

C : Medium term borrowing

D : Maturity transformation

Answer: C

Question 4

A wireless phone manufacturer currently sells 2,000 units per quarter at a price of $400 The estimated price elasticity of demand is -2.5.

The manufacturer is considering an increase in the price to $440

What will this raise (+) or reduce (-) total revenue by? Give your answer in whole numbers.

A : $-140000

B : $-130000

C : $-120000

D : $-110000

Answer: A

Question 5

If the government imposed a legal minimum wage that was above the market equilibrium wage, the resulting unemployment would be the greatest when:

A : the demand for labor and the supply of labor are both price inelastic

B : the demand for labor and the supply of labor are both price elastic

C : the demand for labor is price inelastic and the supply of labor is price elastic

D : the demand for labor is price elastic and the supply of labor is price inelastic

Answer: B

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Total 471 Questions | Updated On: Nov 21, 2024

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