1.Which of the trends below converged to spark the Internet revolution of the 1990’s?A) Venture Capital, Biotechnology, and TelecommunicationsB) Digital Technology, Information Technology, and EntrepreneurshipC) Entrepreneurship, Venture Capital, and Computer SoftwareD) Personal Computers, Cell Phones, and Laser PrintingE) Personal Computers, Modems, and Floppy Disks2.According to the survey cited in this chapter, which of the following was not one of the most important innovations since 1980?A) Digital imageryB) Personal computersC) The InternetD) E-mailE) Cell phones3.How many business incubators were in the US in 2006?A) 764B) 2076C) 850D) 240E) 11154.Which term is used to describe business churning?A) Artificial evolutionB) Business expansionC) Evolving transitionD) Making the butterE) Creative destruction5.The stock market collapse that led to the Great Depression occurred in what year?A) 1928B) 1932C) 1929D) 1930E) 19316.By 2011, what percentage of the world’s population had become Internet users?A) 2%B) 33%C) 57%D) 60%E) 16%7.Which of the following industries was the prime example of venture capital fueling the pace of commercial innovation?A) BiotechnologyB) Mini-ComputersC) All of the AboveD) Semi-ConductorsE) Personal Computers8.Who reasoned that capitalism would be inevitably destroyed by elites?A) SchumpeterB) Servan-SchreiberC) LeninD) WhyteE) Marx9.At the turn of the 20 th century, about 50% of US workers worked in either the agricultural or the domestic service spheres. Approximately 100 years later that percentage had decreased to which of the following figures?A) 10%B) 35%C) 22%D) 4%E) 16%10.What percentage of Americans dream of starting a business?A) 38%B) 68%C) 58%D) 28%E) 48%11.What percent of the workforce did Fortune 500 companies employ in 1960’s?A) 25%B) 15%C) 10%D) 20%E) 30%12.What was the primary objective of the Bayh-Dole Act?A) Support for young entrepreneursB) All of the aboveC) Investment of pension funds in venture capital companiesD) Gender equality among entrepreneurs.E) Commercial development of intellectual property13.What percent of the executives downsized in the 1980’s and 1990’s started their own businesses?A) 30%B) 25%C) 20%D) 10%E) 15%14.What does SBIR stand for?A) Speaker Boundary Interference ResponseB) Small Business Innovation ResearchC) Space Based Infra RedD) Savings, Brokerage, and Investment ReserveE) Small Business Interest Rate15.What was the increase in Benchmark Capital’s investment of $5 million in eBay?A) 700-fold in two yearsB) 30-fold in two yearsC) 4000-fold in two yearsD) 300-fold in two yearsE) 1500-fold in two years16.What percentage of new business ventures typically survive their first five years of operation?A) 40%B) 100%C) 25%D) 81%E) 65%17.What percent of American, four-year colleges have courses in entrepreneurship?A) 78%B) 60%C) 43%D) 13%E) 55%18.How much do informal investors contribute to startup businesses annually?A) $50 billionB) $100 billionC) $67 billionD) $12 billionE) $86 billion19.“Baby boomers” is the term used for Americans born in:A) Mid 1940’s – early 1960’sB) Early 1920’sC) Late 1930’s – 1940’sD) 1920’sE) C Early 1930’s20.What was the world’s largest corporation in 2012?A) General MotorsB) WalmartC) AppleD) Southwest AirlinesE) Google21.How much does the Bayh-Dole Act contribute annually to the US economy?A) C)$12 billionB) E)$40 billionC) A)$300 millionD) D)$32 billionE) B)$950 million22.Which software application was the predecessor to the Lotus 1-2-3 spreadsheet?A) Microsoft ExcelB) VisiCalcC) FileMakerD) MasterFileE) Financial Works23.How much new VC money was committed in 1975?A) $145 millionB) $930 millionC) $45 millionD) $430 millionE) $10 million24.What percent of GDP did venture capital backed companies generated in 2008?A) 7%B) 31%C) 21%D) 28%E) 41%25.According to the GEM model, how many sets of activities create the basis for national economic growth?A) 6B) 5C) 3D) 2E) 4

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