rsm100 test1 - page 1 of 10 R S M1 0 0 Y 1 Y I N T RO D U C...

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Unformatted text preview: page 1 of 10 R S M1 0 0 Y 1 Y I N T RO D U C TI O N TO MA N A G E M EN T Rotman School of Management | Faculty of Arts & Science University of Toronto Midterm test Wednesday Oct 29, 2008 No Aids Allowed Maximum 120 minutes 40 Multiple Choice Questions TOTAL MARKS = 40 NAME: STUDENT #: INSTRUCTIONS Please read carefully! Answer the following on the computer sheet. (Circled answers on the test paper will NOT be accepted). On the computer sheet, make sure you: Use an HB pencil; Write and BUBBLE IN your student number; Fill in your name and initials Completely bubble in your answers; Do not make any extra marks on your sheet. If you fail to follow all of these instructions, it could mean your sheet will not be read properly and that you will not get all the marks you deserve. Remember: Choose the best answer . There is no penalty for guessing. page 2 of 10 1. Which of the following is NOT a function (or use) of Money: a. it is an input to the production of other goods b. it is used to replace barter c. it is used to record expenses, revenues or assets d. it is used to store purchasing power for a later use e. none of the above – they are all functions of Money 2. If Velocity (V) is constant, a rise in the real value of transactions (T) means that: a. the money supply and price level must rise b. the money supply and price level must fall c. the money supply must rise or the price level must fall d. the money supply must fall or the price level must rise e. none of the above. 3. Which of the following is an idea attributable to John Maynard Keynes? a. that government spending or taxation needs to be adjusted to stabilize a capitalist economy b. that workers in mass-production industries are alienated c. that capital tends to accumulate under the control of fewer and fewer individuals d. that pure capitalism will give the best possible outcome for the economy e. that capitalists will tend to collude to fix prices and raise profits 4. The diamond of sustainable growth includes all of the following except: a. vibrant entrepreneurship b. effective public policy systems c. a tariff on exports of farm machinery d. managerial expertise e. effective financial systems 5. Which of the following predictions by Karl Marx about what would happen in the pure capitalist system turned out to be true? a. that workers would become alienated b. that the system would be subject to depressions and booms c. that a strong centrally-planned system would replace capitalism d. a,b and c e. a and b page 3 of 10 6. The author of The General Theory of Employment, Interest and Money was a. Adam Smith b. David Ricardo c. Karl Marx d. John Maynard Keynes e. Milton Friedman 7. The National Policy in the 1880’s and 1890’s a. slowed Hart Massey’s attempts to sell farm machinery into the US b. helped Hart Massey sell farm machinery into the US c. slowed Hart Massey’s attempts to sell farm machinery into Western Canada d. helped Hart Massey sell farm machinery into Western Canada...
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rsm100 test1 - page 1 of 10 R S M1 0 0 Y 1 Y I N T RO D U C...

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