Which of the following statements about corporate social responsibility is true?
(i) CSR guarantees increased profit levels
(ii) CSR adds cost to organisational activities and reduces profit levels
(iii) Social responsibility may have commercial benefits
(iv) Social responsibility is a concern confined to business organisations
Rationale: Statement (i) is incorrect, because there is no such 'guarantee'; statement (ii) because it is not necessarily so, and statement (iv) because other organisations (eg charities, government bodies) are often more concerned with social
responsibility than businesses.Ways in: It is always worth checking to see if logic helps. Words like 'guarantee' often signal
an untrue statement, becausethey make such extreme claims. And if statement (i) is therefore incorrect, you've halved your
options. It should then be obvious that (iv) is incorrect (if you think about a hospital, say).
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Monetary policy is a government economic policy relating to:
1 Interest rates
2 Taxation
3 Public borrowing and spending
4 Exchange rates
Which of the above are correct?
Which of the following organisations might benefit from a period of high price inflation?
Which of the following are the goals of macroeconomic policy?
1 Encouraging economic growth
2 Low unemployment
3 Achievement of a balance between exports and imports
4 Achieving zero inflation
Which of the following is an example of cyclical unemployment?
A surplus on the balance of payments usually refers to a surplus or deficit on the account.Which word correctly complete this statement?
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