Practice Quiz

MTEL Business Practice Exam - Question List

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56.
Which of the following actions is the Federal Reserve most likely to take in response to an increase in the inflation rate?
  1. Decreasing reserve requirements of financial institutions.
  2. Increasing its sales of U.S. government treasury securities.
  3. Decreasing the discount rate charged to banks.
  4. Increasing the amount of money printed at the U.S. mints.
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57.
An advertisement for a men's cologne shows a ruggedly handsome mountain climber clinging to a cliff side and laboriously hauling himself up to the top, where he stands and surveys the surrounding countryside. The ad then cuts to the same man eating dinner at a restaurant with a beautiful woman. This ad most likely appeals to which of the following consumer characteristics?
  1. Social network.
  2. Subculture.
  3. Self-image.
  4. Life cycle.
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58.
Which of the following is one difference between business-to-business marketing and direct marketing to consumers?
  1. Business-to-business marketing plans rely more heavily on large-scale promotional campaigns for individual products.
  2. Business customers are more likely to make their buying decisions based on actual, rather than perceived, wants and needs.
  3. Business-to-business marketing plans rely more heavily on niche and other types of differentiated marketing strategies.
  4. Business customers are likely to have a considerably wider range of competing products from which to choose.
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59.
A company would most appropriately conduct extensive test-marketing of a new product when:
  1. Little or no competition for the product currently exists.
  2. The product is an addition to an already existing product line.
  3. An undifferentiated strategy will be used to market the product.
  4. The costs of introducing the new product are high.
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60.
A company would be most likely to use a price-skimming strategy for a product in which prices are set high to maximize profits when:
  1. A product's sales have declined as it nears the end of its life cycle.
  2. The company is trying to capture market share for the product in a highly competitive market.
  3. A newly introduced product is popular and has little competition.
  4. The company wishes to recoup costs associated with a failed product that will soon be pulled from the market.
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