Question
1. Question :
Olive
oil made in Italy and sold in the United States is an example of which of the
following?
Global
brand
U.S.
export
U.S.
import
Standardized
product
Question
2. Question :
Tacky
Toys, a U.S.-based toy retailer, buys all its merchandise from Mushi Toys, a
Japan-based toy manufacturer with production facilities in 12 nations. Mushi
Toys markets its toys globally without modification. Mushi Toys selling its
products to Tacky Toys is an example of ________.
importing
bartering
exporting
globalization
Question
3. Question :
Which
of the following is most likely not an effect of globalization?
Increases
in the variety of capital flows across national borders
Increases
in the economic isolation of developing countries
Increases
in the rate at which products are diffused worldwide
Increases
in the volume of cross-border transactions
Question
4. Question :
Which
of the following are products marketed in all countries essentially without any
changes?
National
products
Adapted
products
Global
products
Locally
responsive products
Question
5. Question :
Two
major forces that underlie the expansion of globalization are ________ and
________.
deregulation
of tourism; the rise of nationalism
economic
interdependence; the decline of international organizations
trade
barriers; political unrest
falling
barriers to trade and investment; technological innovation
Question
6. Question :
Jimmy’s
Jeans creates denim in the United States. The jeans are sold by British retailers
who mark up the price by an additional 10% to reflect the cost of taxes
associated with importing the denim. The tax is known as a __________.
Import
sanction
Tariff
Embargo
Nontariff
barrier
Question
7. Question :
The
three main goals of the ________ are to help the free flow of trade, help
negotiate the further opening of markets, and settle trade disputes between its
members.
General
Agreement on Tariffs and Trade (GATT)
World
Trade Organization (WTO)
World
Bank
International
Monetary Fund (IMF)
Question
8. Question :
Last
year, Sabrina Shin started a business selling all types of spices and hot
sauces. The business is small but this entrepreneur’s dreams are big. Given
limited demand and sales fluctuations in the domestic market, Sabrina has been
considering going international; however, she has little information, many
doubts, and no guidance. If you were to advise Sabrina on the myths versus
facts of exporting, which of the following would you state is a fact?
Only
large companies can export successfully.
Sabrina’s
products do not need export licensing.
Small
businesses have no place to turn for export advice.
There
is no export financing available for Sabrina’s business.
Question
9. Question :
For
75 years, from the start of the First World War to the end of the Cold War,
there was a geographic divide between ________, and an ideological divide
between ________.
North
and South; protectionism and socialism
North
and South; regionalism and globalization
East
and West; regionalism and globalization
East
and West; communism and capitalism
Points
Received: 0 of 1
Question
10. Question :
Which
of the following terms is used to refer to widespread job turnover throughout
an economy?
Redeployment
Churning
Wage
differentials
Attrition
spectrum
Question
11. Question :
The
“global business environment” consists of four distinct elements:
globalization, national business environments, the international business
environment, and ________.
falling
trade and investment barriers
international
firm management
technological
innovation
multinational
corporations
Question
12. Question :
Which
of the following terms is used to refer to the positive or negative
evaluations, feelings, and tendencies that individuals harbor toward objects or
concepts?
Customs
Attitudes
Manners
Values
Question
13. Question :
Which
of the following statements regarding cultural change is NOT true?
Cultural
change occurs as new traits are accepted and absorbed into a culture.
Cultural
diffusion occurs quickly in almost every culture.
Globalization
is increasing the pace of cultural diffusion.
Technological
advances are increasing the pace of cultural diffusion.
Question
14. Question :
Which
of the following terms is used to refer to behavior that is shared by a
heterogeneous group or by several groups?
Manners
Lingua
franca
Popular
custom
Folk
custom
Question
15. Question :
A
________ is a system of social stratification in which people are born into a
social ranking, with no opportunity for social mobility.
moksha
system
class
system
caste
system
genealogy
system
Question
16. Question :
When
translated, the term Shinto means ________.
path
of the heart
way
of the gods
escape
from reincarnation
achieving
enlightenment
Question
17. Question :
According
to Hofstede’s framework, which of the following describes the degree of
inequality between people in different occupations?
Power
distance
Uncertainty
avoidance
Individualism
Collectivism
Question
18. Question :
Sid
Maxwell is head of legal affairs for Hudson Inc., a producer of animal figurines
that include an embedded software program that makes animal sounds. Hudson is
expanding its market to include parts of Asia and Maxwell is concerned about
reports of software piracy in the region. The software program embedded in
Hudson’s figurines is an example of ________.
a
copyright
intellectual
property
a
trademark
local
content
Points
Received: 0 of 1
Question
19. Question :
Global
Trading, LLC, is a distributor of computer software and hardware, steel and
copper scrap, and telephone and electric utility equipment. Involved in three
very different types of industries, the company faces many types of risks in
its global business. Global Trading just learned that the government in one
country in which it does business has taken over the entire electric utility
industry. The government’s actions are an example of ________.
confiscation
globalization
expropriation
nationalization
Question
20. Question :
Which
of the following philosophies maintains that a company’s sole responsibility is
to maximize profits for its owners?
Utilitarian
view
Righteous
moralist view
Friedman
view
Cultural
relativist view
Question
21. Question :
Which
of the following terms is used to refer to personal behavior in accordance with
guidelines for good conduct or morality?
Standardized
behavior
Customary
behavior
Ethical
behavior
Adaptive
behavior
Question
22. Question :
A
bootleg Prada backpack that costs $500 in New York but sells for $100 in Rome
is an example of which of the following?
Patent
infringement
Pirated
product
Copyright
violation
Standardized
product
Question
23. Question :
Which
of the following was initially a code governing moral and ethical behavior that
was later extended to govern commercial transactions?
Civil
law
Hindu
law
Common
law
Islamic
law
Question
24. Question :
The
value of all goods and services produced by the domestic economy over a
one-year period is called ________.
gross
domestic product (GDP)
human
development index (HDI)
gross
national product (GNP)
purchasing
power parity (PPP)
Question
25. Question :
Which
of the following is an example of a political motive behind government
intervention in trade?
Promote
a strategic trade policy
Gain
influence over other nations
Protect
against unwanted cultural influence
Protect
young industries from competition
Question
26. Question :
The
________ argument says that a country’s emerging industries need protection
from international competition during their development.
national
security
infant
industry
strategic
trade policy
GATT
treaty
Question
27. Question :
Companies
seek cross-border mergers and acquisitions for each of the following reasons
EXCEPT to ________.
get
a foothold in new geographic markets
increase
a firm’s global competitiveness
fill
in gaps in companies’ product lines in a global industry
free
up company budgets for increased R & D
Question
28. Question :
Economic
integration whereby countries remove all barriers to trade and the movement of
labor and capital between themselves and erect a common trade policy against
nonmembers is called a(n) ________.
economic
union
customs
union
common
market
political
union
Question
29. Question :
Typical
buyers of bonds include all of the following except ________.
medium-
to large-sized banks
pension
funds
mutual
funds
governments
in need of funds
Question
30. Question :
Sandy
Smith, vice president of marketing for a large consumer products company, will
soon travel to Colombia to spearhead an effort to increase her company’s
presence there. Sandy is concerned about her safety and has contacted a
risk-assessment service for advice. If Sandy is asked for personal information,
she should ________.
respond
quickly and give detailed information
be
vague but friendly with her response
give
out her work or mobile phone number, but never her home phone number
demand
to know why she is being asked for personal information
Question
31. Question:
Describe
international trade including its potential benefits, and explain why a nation
trading with a neomercantilist country would be at a disadvantage.
Question
32. Question :
Explain the concept of balance of payments
and describe its two major components.
