The Patersons Bought a Home That Was Newly Constructed in 2007

question 8

Multiple Choice

The Patersons bought a home that was newly constructed in 2007 for $275,000.They sold the home in 2015 for $255,000.Which of the following statements is correct regarding the sale of the house?

• A)The 2015 sale increased 2015 GDP by $255,000 and had no effect on 2007 GDP.
• B)The 2015 sale reduced 2015 GDP by $20,000 and had no effect on 2007 GDP.
• C)The 2015 sale increased 2015 GDP by $255,000;and caused 2007 GDP to be revised downward by $20,000.
• D)The 2015 sale affected neither 2007 GDP nor 2015 GDP.

Recognize the impact of competitive differentiation and consumer orientation on business strategies.

Identify the effects of globalization on business operations, including offshoring and global workforce management.

Describe the role of technology and social media in modern business practices.

Understand the historical transformations in business practices, from the Industrial Revolution to present-day orientations toward consumer satisfaction and diversity.

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Definitions:

Web Conferencing

A technology that allows users to hold meetings or presentations over the internet.

Business Trip

A journey undertaken for work-related purposes, often involving travel to a different city or country to attend meetings, conferences, or engage in business activities.

Leader-Member Exchanges

A theory that focuses on the relationship between leaders and their followers, emphasizing that the quality of these relationships can significantly impact organizational outcomes.

Commitment

The dedication and loyalty toward a cause, activity, organization, or relationship, characterized by a willingness to invest time, effort, and resources.