Question 1

A nation that has inadequate enforcement of property rights reduces the motivation for innovative activity.

Accepted Answer

A) True 
 B)False

Question 2

Jeremy reminded the board members that it is important to understand the inflation rate of a country before entering into business. Jeremy is concerned with the ________ risks of doing business.

Accepted Answer

A)  ethical 
B)  economic 
C)  technological 
D)  legal 
E)  sociological 
A)  ethical 
B)  economic 
C)  technological 
D)  legal 
E)  sociological

Question 3

Nations that have economic freedom also have political freedom.

Accepted Answer

A) True 
 B)False

Question 4

In economic terms, the long-run monetary benefits of doing business in a country are based on the size of the market, the present purchasing power of consumers and the ________ of the country.

Accepted Answer

A)  gender ratio 
B)  geographic location 
C)  natural resources 
D)  future consumer wealth 
E)  political history 
A)  gender ratio 
B)  geographic location 
C)  natural resources 
D)  future consumer wealth 
E)  political history

Question 5

When considering innovations and entrepreneurship, it can be said that

Accepted Answer

A)  a command economy creates greater incentives for innovation and entrepreneurship than a market economy. 
B)  if a country's economy is to sustain long-run economic growth, the business environment must restrict entrepreneurial activity. 
C)  a high level of entrepreneurial activity leads to a low level of innovation. 
D)  innovations in production and business processes lead to an increase in the productivity of labor and capital. 
E)  strong legal protection of property rights creates an unfavorable environment for innovation and entrepreneurship. 
A)  a command economy creates greater incentives for innovation and entrepreneurship than a market economy. 
B)  if a country's economy is to sustain long-run economic growth, the business environment must restrict entrepreneurial activity. 
C)  a high level of entrepreneurial activity leads to a low level of innovation. 
D)  innovations in production and business processes lead to an increase in the productivity of labor and capital. 
E)  strong legal protection of property rights creates an unfavorable environment for innovation and entrepreneurship.

Question 6

At one time, economic stagnation resulted in Great Britain because the coal mining and telecommunications industries were

Accepted Answer

A)  privatized. 
B)  sold off to foreign owners. 
C)  monopolies owned by the state. 
D)  compromised during the war. 
E)  decentralized. 
A)  privatized. 
B)  sold off to foreign owners. 
C)  monopolies owned by the state. 
D)  compromised during the war. 
E)  decentralized.

Question 7

During the late 1980s and early 1990s, many totalitarian governments collapsed and were replaced by democratically elected governments.

Accepted Answer

A) True 
 B)False

Question 8

An accurate description of privatization is that

Accepted Answer

A)  it started in China in the early 1980s. 
B)  it involves replacing a state-owned monopoly with a private monopoly. 
C)  it is most successful when countries adopt communism. 
D)  when newly privatized firms are protected from foreign competition, they have little incentive to restructure their operations to become more efficient. 
E)  in today's context, a country runs the risk of experiencing a serious economic crisis if it liberalizes and privatizes state-owned enterprises. 
A)  it started in China in the early 1980s. 
B)  it involves replacing a state-owned monopoly with a private monopoly. 
C)  it is most successful when countries adopt communism. 
D)  when newly privatized firms are protected from foreign competition, they have little incentive to restructure their operations to become more efficient. 
E)  in today's context, a country runs the risk of experiencing a serious economic crisis if it liberalizes and privatizes state-owned enterprises.

Question 9

Privatization occurs when state-owned property is transferred into the hands of individuals.

Accepted Answer

A) True 
 B)False

Question 10

Lindsey lives in a country where the state owns all the means of production and there is little incentive for entrepreneurial activity. Lindsey lives in a

Accepted Answer

A)  market economy. 
B)  mixed economy. 
C)  planned economy. 
D)  private economy. 
E)  democratic economy. 
A)  market economy. 
B)  mixed economy. 
C)  planned economy. 
D)  private economy. 
E)  democratic economy.

Question 11

The country of Garuf has recently removed all legal restrictions on the establishment of private enterprises. This action represents the process of

Accepted Answer

A)  the nationalization of private assets. 
B)  deregulation. 
C)  socialism. 
D)  expanding totalitarian controls. 
E)  isolationism. 
A)  the nationalization of private assets. 
B)  deregulation. 
C)  socialism. 
D)  expanding totalitarian controls. 
E)  isolationism.

Question 12

Briefly describe the three significant changes that have occurred in the political economy of some of the world's nation-states since the late 1980s.

Accepted Answer

The political economy of many of the wor

Question 13

Generally, the costs and risks associated with doing business in a foreign country are typically lower in

Accepted Answer

A)  less developed countries. 
B)  economically advanced countries. 
C)  totalitarian states. 
D)  countries with high inflation and falling living standards. 
E)  countries that lack intellectual property rights. 
A)  less developed countries. 
B)  economically advanced countries. 
C)  totalitarian states. 
D)  countries with high inflation and falling living standards. 
E)  countries that lack intellectual property rights.

Question 14

Traditional grocery stores now have to compete with Amazon's front-door delivery services. As a result, many grocery stores now offer online ordering and home delivery. This new strategy is an example of

Accepted Answer

A)  privatization. 
B)  economic deregulation. 
C)  purchasing power parity. 
D)  innovation 
E)  benchmarking. 
A)  privatization. 
B)  economic deregulation. 
C)  purchasing power parity. 
D)  innovation 
E)  benchmarking.

Question 15

Which of these companies is demonstrating a first-mover advantage?

Accepted Answer

A)  Tide-All Inc. has more than 50 percent market share in the telecom industry, because no other company has invested in this industry before Tide-All Inc. 
B)  The first 50 people who respond to the tweet sent out by Hal's Hamburgers receive a $5 coupon they can use on their next order. 
C)  The level of satisfaction Simon experienced when dining at the Tasty Cafe was highest the first time but reduced each time he dined there. 
D)  Innovative Creations Inc. was the first to exit the declining pager phone manufacturing industry and as a result, it avoided losing a lot of money. 
E)  Jenna has been asked to review the mascara she bought from AllWell Beauty. Her feedback will help the company improve the product. 
A)  Tide-All Inc. has more than 50 percent market share in the telecom industry, because no other company has invested in this industry before Tide-All Inc. 
B)  The first 50 people who respond to the tweet sent out by Hal's Hamburgers receive a $5 coupon they can use on their next order. 
C)  The level of satisfaction Simon experienced when dining at the Tasty Cafe was highest the first time but reduced each time he dined there. 
D)  Innovative Creations Inc. was the first to exit the declining pager phone manufacturing industry and as a result, it avoided losing a lot of money. 
E)  Jenna has been asked to review the mascara she bought from AllWell Beauty. Her feedback will help the company improve the product.

Question 16

Based on calculations for 2018, which country is ranked by the Heritage Foundation as having the world's freest economy?

Accepted Answer

A)  Ireland 
B)  Hong Kong 
C)  North Korea 
D)  Canada 
E)  the United States 
A)  Ireland 
B)  Hong Kong 
C)  North Korea 
D)  Canada 
E)  the United States

Question 17

AllSteel Inc. is planning an international expansion. In terms of the costs involved in conducting business in a country, it will be most economical for the company if it chooses a country

Accepted Answer

A)  with a closed totalitarian political system. 
B)  where the company will have to provide its own infrastructure and supporting business. 
C)  where laws regarding product safety, safety in the workplace, and environmental pollution are extremely stringent. 
D)  where politicians are held accountable by the electorate. 
E)  with no local laws to protect intellectual property. 
A)  with a closed totalitarian political system. 
B)  where the company will have to provide its own infrastructure and supporting business. 
C)  where laws regarding product safety, safety in the workplace, and environmental pollution are extremely stringent. 
D)  where politicians are held accountable by the electorate. 
E)  with no local laws to protect intellectual property.

Question 18

Gross national income figures should be carefully evaluated because they don't take into account differences in

Accepted Answer

A)  the available workforce. 
B)  government intervention. 
C)  the cost of living. 
D)  market conditions. 
E)  political power. 
A)  the available workforce. 
B)  government intervention. 
C)  the cost of living. 
D)  market conditions. 
E)  political power.

Question 19

The three measures of the ________ are life expectancy at birth, educational attainment, and average incomes based on PPP estimates.

Accepted Answer

A)  Human Development Index 
B)  Gross National Income 
C)  Gross Domestic Product 
D)  Cost of Living Index 
E)  Cash Reserve Ratio 
A)  Human Development Index 
B)  Gross National Income 
C)  Gross Domestic Product 
D)  Cost of Living Index 
E)  Cash Reserve Ratio

Question 20

In Samuel Huntington's thesis, global terrorism is a product of the

Accepted Answer

A)  clash of value systems and ideology between civilizations. 
B)  widespread acceptance of universal global civilization. 
C)  declining liberal democratic ideals. 
D)  differences in the factor endowments between countries. 
E)  geographical differences between nations. 
A)  clash of value systems and ideology between civilizations. 
B)  widespread acceptance of universal global civilization. 
C)  declining liberal democratic ideals. 
D)  differences in the factor endowments between countries. 
E)  geographical differences between nations.

A nation that has inadequate enforcement of property rights reduces the motivation for innovative activity.

Jeremy reminded the board members that it is important to understand the inflation rate of a country before entering into business. Jeremy is concerned with the ________ risks of doing business.

Nations that have economic freedom also have political freedom.

In economic terms, the long-run monetary benefits of doing business in a country are based on the size of the market, the present purchasing power of consumers and the ________ of the country.

When considering innovations and entrepreneurship, it can be said that

At one time, economic stagnation resulted in Great Britain because the coal mining and telecommunications industries were

During the late 1980s and early 1990s, many totalitarian governments collapsed and were replaced by democratically elected governments.

An accurate description of privatization is that

Privatization occurs when state-owned property is transferred into the hands of individuals.

Lindsey lives in a country where the state owns all the means of production and there is little incentive for entrepreneurial activity. Lindsey lives in a

The country of Garuf has recently removed all legal restrictions on the establishment of private enterprises. This action represents the process of

Briefly describe the three significant changes that have occurred in the political economy of some of the world's nation-states since the late 1980s.

Generally, the costs and risks associated with doing business in a foreign country are typically lower in

Traditional grocery stores now have to compete with Amazon's front-door delivery services. As a result, many grocery stores now offer online ordering and home delivery. This new strategy is an example of

Which of these companies is demonstrating a first-mover advantage?

Based on calculations for 2018, which country is ranked by the Heritage Foundation as having the world's freest economy?

AllSteel Inc. is planning an international expansion. In terms of the costs involved in conducting business in a country, it will be most economical for the company if it chooses a country

Gross national income figures should be carefully evaluated because they don't take into account differences in

The three measures of the ________ are life expectancy at birth, educational attainment, and average incomes based on PPP estimates.

In Samuel Huntington's thesis, global terrorism is a product of the

Globalization

National Differences in Political, Economic, and Legal Systems

Differences in Culture

Ethics, Corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Economic Integration

The Foreign Exchange Market

The International Monetary System

The Strategy of International Business

Entering Foreign Markets

Exporting, Importing, and Countertrade

Global Production and Supply Chain Management

Global Marketing and RD

Global Human Resource Management

Filters

Exam 3: National Differences in Economic Development

A nation that has inadequate enforcement of property rights reduces the motivation for innovative activity.

Jeremy reminded the board members that it is important to understand the inflation rate of a country before entering into business. Jeremy is concerned with the ________ risks of doing business.

Nations that have economic freedom also have political freedom.

In economic terms, the long-run monetary benefits of doing business in a country are based on the size of the market, the present purchasing power of consumers and the ________ of the country.

When considering innovations and entrepreneurship, it can be said that

At one time, economic stagnation resulted in Great Britain because the coal mining and telecommunications industries were

During the late 1980s and early 1990s, many totalitarian governments collapsed and were replaced by democratically elected governments.

An accurate description of privatization is that

Privatization occurs when state-owned property is transferred into the hands of individuals.

Lindsey lives in a country where the state owns all the means of production and there is little incentive for entrepreneurial activity. Lindsey lives in a

The country of Garuf has recently removed all legal restrictions on the establishment of private enterprises. This action represents the process of

Briefly describe the three significant changes that have occurred in the political economy of some of the world's nation-states since the late 1980s.

Generally, the costs and risks associated with doing business in a foreign country are typically lower in

Traditional grocery stores now have to compete with Amazon's front-door delivery services. As a result, many grocery stores now offer online ordering and home delivery. This new strategy is an example of

Which of these companies is demonstrating a first-mover advantage?

Based on calculations for 2018, which country is ranked by the Heritage Foundation as having the world's freest economy?

AllSteel Inc. is planning an international expansion. In terms of the costs involved in conducting business in a country, it will be most economical for the company if it chooses a country

Gross national income figures should be carefully evaluated because they don't take into account differences in

The three measures of the ________ are life expectancy at birth, educational attainment, and average incomes based on PPP estimates.

In Samuel Huntington's thesis, global terrorism is a product of the

Globalization

National Differences in Political, Economic, and Legal Systems

Differences in Culture

Ethics, Corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Economic Integration

The Foreign Exchange Market

The International Monetary System

The Strategy of International Business

Entering Foreign Markets

Exporting, Importing, and Countertrade

Global Production and Supply Chain Management

Global Marketing and RD

Global Human Resource Management

Filters