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71. The Organization of Petroleum Exporting Countries (OPEC) influences the world oil market primarily by: A. manipulating supply. B. providing subsidies to producers. C. adjusting demand. D. setting prices.

72. Which of the following best describes one of the primary functions of the World Bank? A. setting interest rates that one country can charge another country to which it loans money B. regulating the international money supply C. providing low or no interest loans or grants to low income countries to promote economic growth D. setting the exchange rates used in international trade

73. Cultures often differ in the importance that individuals place on social rank. In their initial contacts with unfamiliar counterparts from such a culture, U.S. business managers should emphasize: A. aggressive negotiating tactics. B. friendly interpersonal relationships. C. formal and respectful interactions. D. cooperative consensus building.

74. Which of the following is the best definition of cultural stereotyping? A. perceiving another culture to be more homogeneous than it really is B. interpreting the actions of people from other cultures based on one's own cultural experiences C. believing that one's own culture is superior to any other culture D. interpreting people's actions based only on situational context rather than cultural considerations

75. Which of the following statements about the role of small businesses in the U.S. economy is true? A. Small businesses provide more capital to the U.S. economy than do large businesses. B. Small businesses contribute the majority of tax revenue to the U.S. Treasury. C. Small businesses provide more jobs in the U.S. economy than do large businesses. D. Small businesses generate most of the U.S. gross domestic product.

76. In general, successful entrepreneurs are most likely to be: A. self-confident. B. cautious. C. idealistic. D. pessimistic.

77. Entrepreneurs are often more successful than large corporations in penetrating markets that are relatively saturated because entrepreneurs are usually better able to: A. remain in the market despite setbacks. B. design innovative advertising campaigns. C. comply with consumer protection laws. D. address specialized needs of customers.

78. Which of the following describes a significant difference between a limited liability company (LLC) and a standard corporation? A. LLCs are not covered by government antitrust laws. B. LLCs are allowed to transfer all income tax to members. C. LLCs are required to file articles of organization with the state. D. LLCs are independent entities solely responsible for their debts.

79. An entrepreneur is considering several different locations within a large city for the site of a family-style restaurant. In selecting a location, the entrepreneur should give the highest priority to which of the following types of information? A. the proximity of each location to schools, libraries, and other public buildings B. the number and characteristics of media outlets in each area C. the proximity of each location to supermarkets and other sources of supplies D. the number and characteristics of similar restaurants in each area

80. A small business that has been in operation for a year would most likely refer to its business plan to: A. assess and adjust the business's goals over time. B. provide information on products and services for financial backers. C. promote the brand name and features of its products and services. D. document monthly financial reports and yearly tax returns.