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- Exam: TOEFL
- Course: LISTENING
- Part 1, Exam 3
Instructions
You will hear a LECTURE about decision making.
For questions 1-6, choose the best answer (A, B, C or D).
Drag and drop the correct answer in the answer box, or type the corresponding letter.
A mark of 75% corresponds to B2 and a mark of 90% corresponds to C1.
- 1 What is the lecture mainy about?
- Answer:
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· Possible answers: A A method for evaluating outcomes. B A technique for avoiding controversy. C A comparison of beneficial inputs. D A formula for sidestepping failure.
- 2 In the lecture, the professor describes some costs and benefits of investing in new machinery. Indicate whether each of the following is a cost or a benefit for a company planning on making an investment decision.
- The new machine has lower energy consumption than the old one.
- The insurance payments are higher for the new machine.
- The new machine produces higher-quality products.
- Additional floor space is required for the new machine.
- The new machine has more safety features than the old one.
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· Possible answers: Cost Benefit
- 3 Why does the professor mention the introduction of machinery?
- Answer:
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· Possible answers: A To underline the importance of monetary units. B To help explain how costs and benefits are worked out. C To show that many machines are too expensive. D To emphasize the financial side of business decisions.
- 4 Listen again to part of the extract.
- Why does the professor say this:
- "So that much is pretty straightforward. But we also have to think about less tangible, less visible costs and benefits."
- Answer:
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· Possible answers: A She thinks some costs are difficult to see. B She does not think the analysis is complicated. C She wants students to understand the loss of money. D She does not think all benefits are really benefits.
- 4 Listen again to part of the extract.
- "When we do CBA in a more public domain - say, on the building of a new road - the calculations can become even more tricky, although there's some impressive software nowadays that helps us out, of course.
- Why does the professor say this:
- "say, on the building of a new road."
- Answer:
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· Possible answers: A To verify how tricky it is to apply CBA to a transport business. B To introduce impressive software for building roads. C To show how to calculate the building of a new road. D To give an example of an analysis done in the public domain.
- 6 According to the professor, how does CBA evaluate subjective things?
- Answer:
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· Possible answers: A By asking people what something is worth. B By studying how people use money. C By subtracting costs from benefits. D By asking experts for their opinions.