Question 1

What is the result when a country can produce goods more efficiently or better than other nations?

Accepted Answer

A)  Balance of trade deficit 
B)  Absolute advantage 
C)  Increased globalization 
D)  Comparative advantage 
E)  National competitive advantage 
A)  Balance of trade deficit 
B)  Absolute advantage 
C)  Increased globalization 
D)  Comparative advantage 
E)  National competitive advantage

Question 2

Which of the following types of firms design, produce, and manufacture products in many nations?

Accepted Answer

A)  Multinational firms 
B)  Importing firms 
C)  Domestic firms 
D)  International firms 
E)  Exporting firms 
A)  Multinational firms 
B)  Importing firms 
C)  Domestic firms 
D)  International firms 
E)  Exporting firms

Question 3

Today, fixed exchange rates are the norm for most major nations of the world.

Accepted Answer

A) True 
 B)False

Question 4

Which organization created the classification of countries based on per capita income?

Accepted Answer

A)  The World Bank 
B)  The World Trade Organization 
C)  The International Monetary Fund 
D)  The European Union 
E)  The North American Free Trade Agreement 
A)  The World Bank 
B)  The World Trade Organization 
C)  The International Monetary Fund 
D)  The European Union 
E)  The North American Free Trade Agreement

Question 5

Discuss the five dimensions of social behavior that differ across cultures.

Accepted Answer

The first dimension is social orientatio

Question 6

What are the advantages and disadvantages of globalization?

Accepted Answer

Globalization has increased the standard

Question 7

In Germany, Walmart has been required to buy existing retailers rather than open brand-new stores. What does this illustrate?

Accepted Answer

A)  Local content laws 
B)  Fair trade agreements 
C)  Free trade agreements 
D)  Licensing arrangements 
E)  Business practice laws 
A)  Local content laws 
B)  Fair trade agreements 
C)  Free trade agreements 
D)  Licensing arrangements 
E)  Business practice laws

Question 8

What is the difference between balance of trade and balance of payments?

Accepted Answer

A country's balance of trade is the tota

Question 9

How can a local content law in Japan act as a barrier to a U.S.-based automobile manufacturing company that is interested in setting up a branch office in Tokyo?

Accepted Answer

Success in international trade will depe

Question 10

A Chinese steel company cannot charge less for its product in the United States than the cost of production.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is the name for the economic value of all of the products that a country exports minus the economic value of its imports?

Accepted Answer

A)  Balance of foreign competition 
B)  Balance of domestic competition 
C)  Balance of trade 
D)  Balance of payments 
E)  Balance of supply and demand 
A)  Balance of foreign competition 
B)  Balance of domestic competition 
C)  Balance of trade 
D)  Balance of payments 
E)  Balance of supply and demand

Question 12

Which of the following is an indication that people accept the authority of superiors simply because of their position in the organization?

Accepted Answer

A)  Power respect 
B)  Power tolerance 
C)  Power acceptance 
D)  Power uncertainty 
E)  Uncertainty avoidance 
A)  Power respect 
B)  Power tolerance 
C)  Power acceptance 
D)  Power uncertainty 
E)  Uncertainty avoidance

Question 13

Which of the following types of tariff is meant to discourage the import of particular products?

Accepted Answer

A)  Revenue tariff 
B)  Quota tariff 
C)  Labor tariff 
D)  Subsidy tariff 
E)  Protectionist tariff 
A)  Revenue tariff 
B)  Quota tariff 
C)  Labor tariff 
D)  Subsidy tariff 
E)  Protectionist tariff

Question 14

What are two specific reasons why a company might decide NOT to conduct business internationally?

Accepted Answer

Each of the following reasons is accepta

Question 15

Critics of protectionism charge that it drives up prices by reducing competition.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following indicates the belief people hold about power and authority in an organization?

Accepted Answer

A)  Individualism 
B)  Social orientation 
C)  Collectivism 
D)  Power orientations 
E)  Uncertainty orientation 
A)  Individualism 
B)  Social orientation 
C)  Collectivism 
D)  Power orientations 
E)  Uncertainty orientation

Question 17

If the United States exports more to the Netherlands than it imports from the Netherlands, the United States has a trade deficit with the Netherlands.

Accepted Answer

A) True 
 B)False

Question 18

Transportation costs have relatively little impact on a domestic firm's decision to go international when compared to other possible factors.

Accepted Answer

A) True 
 B)False

Question 19

The World Trade Organization (WTO)was created to encourage international trade.

Accepted Answer

A) True 
 B)False

Question 20

Revenue tariffs are primarily designed to discourage the importation of foreign products.

Accepted Answer

A) True 
 B)False

What is the result when a country can produce goods more efficiently or better than other nations?

Which of the following types of firms design, produce, and manufacture products in many nations?

Today, fixed exchange rates are the norm for most major nations of the world.

Which organization created the classification of countries based on per capita income?

Discuss the five dimensions of social behavior that differ across cultures.

What are the advantages and disadvantages of globalization?

In Germany, Walmart has been required to buy existing retailers rather than open brand-new stores. What does this illustrate?

What is the difference between balance of trade and balance of payments?

How can a local content law in Japan act as a barrier to a U.S.-based automobile manufacturing company that is interested in setting up a branch office in Tokyo?

A Chinese steel company cannot charge less for its product in the United States than the cost of production.

Which of the following is the name for the economic value of all of the products that a country exports minus the economic value of its imports?

Which of the following is an indication that people accept the authority of superiors simply because of their position in the organization?

Which of the following types of tariff is meant to discourage the import of particular products?

What are two specific reasons why a company might decide NOT to conduct business internationally?

Critics of protectionism charge that it drives up prices by reducing competition.

Which of the following indicates the belief people hold about power and authority in an organization?

If the United States exports more to the Netherlands than it imports from the Netherlands, the United States has a trade deficit with the Netherlands.

Transportation costs have relatively little impact on a domestic firm's decision to go international when compared to other possible factors.

The World Trade Organization (WTO)was created to encourage international trade.

Revenue tariffs are primarily designed to discourage the importation of foreign products.

The U.S. Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 4: Understanding the Global Context of Business

What is the result when a country can produce goods more efficiently or better than other nations?

Which of the following types of firms design, produce, and manufacture products in many nations?

Today, fixed exchange rates are the norm for most major nations of the world.

Which organization created the classification of countries based on per capita income?

Discuss the five dimensions of social behavior that differ across cultures.

What are the advantages and disadvantages of globalization?

In Germany, Walmart has been required to buy existing retailers rather than open brand-new stores. What does this illustrate?

What is the difference between balance of trade and balance of payments?

How can a local content law in Japan act as a barrier to a U.S.-based automobile manufacturing company that is interested in setting up a branch office in Tokyo?

A Chinese steel company cannot charge less for its product in the United States than the cost of production.

Which of the following is the name for the economic value of all of the products that a country exports minus the economic value of its imports?

Which of the following is an indication that people accept the authority of superiors simply because of their position in the organization?

Which of the following types of tariff is meant to discourage the import of particular products?

What are two specific reasons why a company might decide NOT to conduct business internationally?

Critics of protectionism charge that it drives up prices by reducing competition.

Which of the following indicates the belief people hold about power and authority in an organization?

If the United States exports more to the Netherlands than it imports from the Netherlands, the United States has a trade deficit with the Netherlands.

Transportation costs have relatively little impact on a domestic firm's decision to go international when compared to other possible factors.

The World Trade Organization (WTO)was created to encourage international trade.

Revenue tariffs are primarily designed to discourage the importation of foreign products.

The U.S. Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters