Question 1

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

Accepted Answer

A) True 
 B)False  True

Question 2

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 C

Question 3

What is it called when a company sends some of its own managers overseas to conduct business in a local office?

Accepted Answer

A)  developing a strategic alliance 
B)  outsourcing 
C)  licensing products 
D)  investing directly in a foreign venture 
E)  opening a branch office 
A)  developing a strategic alliance 
B)  outsourcing 
C)  licensing products 
D)  investing directly in a foreign venture 
E)  opening a branch office E

Question 4

The purpose of the General Agreement on Tariffs and Trade is to reduce trade barriers.

Accepted Answer

A) True 
 B)False

Question 5

Which organization most likely has the greatest impact on Asian countries?

Accepted Answer

A)  ASEAN 
B)  UAS 
C)  EU 
D)  NAFTA 
E)  ECOWAS 
A)  ASEAN 
B)  UAS 
C)  EU 
D)  NAFTA 
E)  ECOWAS

Question 6

In Germany, Wal-Mart 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 7

What countries comprise NAFTA?

Accepted Answer

NAFTA, the North American Free Trade Agr

Question 8

The vice president further argues that more reasons exist for not expanding Fembooks on a global basis. Which of the following statements, if True, would NOT support the vice president's argument?

Accepted Answer

A)  Bandwidth variability can cause technical problems with ordering through the Internet. 
B)  Some countries require Internet users to pay by the minute, which further necessitates a rapid ordering and payment procedure. 
C)  Web censoring, which could impact feminist books, occurs in China, Saudi Arabia, Iran, and Malaysia. 
D)  The rate of access to computers is increasing on a global basis and now stands at 15 percent, with estimates of increasing to 25 percent in the next two years. 
E)  Local Internet Web page writers would need to ensure that all offensive colors, words and images were removed to ensure cultural adaptation. 
A)  Bandwidth variability can cause technical problems with ordering through the Internet. 
B)  Some countries require Internet users to pay by the minute, which further necessitates a rapid ordering and payment procedure. 
C)  Web censoring, which could impact feminist books, occurs in China, Saudi Arabia, Iran, and Malaysia. 
D)  The rate of access to computers is increasing on a global basis and now stands at 15 percent, with estimates of increasing to 25 percent in the next two years. 
E)  Local Internet Web page writers would need to ensure that all offensive colors, words and images were removed to ensure cultural adaptation.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Under what circumstances would telephone technology be considered a comparative advantage in Finland?

Accepted Answer

A country enjoys a comparative advantage

Question 11

Currently, a majority of U.S. imports come from Canada, Japan, Mexico, and China.

Accepted Answer

A) True 
 B)False

Question 12

How has NAFTA influenced international trade?

Accepted Answer

NAFTA seeks to remove virtually all barr

Question 13

A company with high demand for its product in a particular foreign market that is associated with high transportation costs would tend to arrange a strategic alliance over any other international organization structure.

Accepted Answer

A) True 
 B)False

Question 14

Should telephone technology be considered an absolute advantage in Finland? Explain.

Accepted Answer

An absolute advantage exists when a coun

Question 15

How might sociocultural differences affect sales of Nokia phones outside Finland?

Accepted Answer

Any firm planning to conduct business in

Question 16

Which of the following is NOT considered an international organizational structure?

Accepted Answer

A)  independent agents 
B)  licensing arrangements 
C)  foreign direct investments 
D)  branch office 
E)  exporters 
A)  independent agents 
B)  licensing arrangements 
C)  foreign direct investments 
D)  branch office 
E)  exporters

Question 17

The primary purpose of the World Trade Organization is to impose tariffs on imported products.

Accepted Answer

A) True 
 B)False

Question 18

The United States has large trade deficits with Japan, China, and Mexico; this means that the United States has imported more from them than what they have purchased from us.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following nations is NOT contained within a major world economic marketplace?

Accepted Answer

A)  Canada 
B)  Greece 
C)  Taiwan 
D)  Singapore 
E)  Honduras 
A)  Canada 
B)  Greece 
C)  Taiwan 
D)  Singapore 
E)  Honduras

Question 20

Saudi Arabian oil is an example of an absolute advantage.

Accepted Answer

A) True 
 B)False

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

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?

What is it called when a company sends some of its own managers overseas to conduct business in a local office?

The purpose of the General Agreement on Tariffs and Trade is to reduce trade barriers.

Which organization most likely has the greatest impact on Asian countries?

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

What countries comprise NAFTA?

The vice president further argues that more reasons exist for not expanding Fembooks on a global basis. Which of the following statements, if True, would NOT support the vice president's argument?

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

Under what circumstances would telephone technology be considered a comparative advantage in Finland?

Currently, a majority of U.S. imports come from Canada, Japan, Mexico, and China.

How has NAFTA influenced international trade?

A company with high demand for its product in a particular foreign market that is associated with high transportation costs would tend to arrange a strategic alliance over any other international organization structure.

Should telephone technology be considered an absolute advantage in Finland? Explain.

How might sociocultural differences affect sales of Nokia phones outside Finland?

Which of the following is NOT considered an international organizational structure?

The primary purpose of the World Trade Organization is to impose tariffs on imported products.

The United States has large trade deficits with Japan, China, and Mexico; this means that the United States has imported more from them than what they have purchased from us.

Which of the following nations is NOT contained within a major world economic marketplace?

Saudi Arabian oil is an example of an absolute advantage.

The Us Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Business Management

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

Pricing, Distributing, and Promoting Products

Information Technology for Business

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

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Exam 4: The Global Context of Business

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

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?

What is it called when a company sends some of its own managers overseas to conduct business in a local office?

The purpose of the General Agreement on Tariffs and Trade is to reduce trade barriers.

Which organization most likely has the greatest impact on Asian countries?

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

What countries comprise NAFTA?

The vice president further argues that more reasons exist for not expanding Fembooks on a global basis. Which of the following statements, if True, would NOT support the vice president's argument?

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

Under what circumstances would telephone technology be considered a comparative advantage in Finland?

Currently, a majority of U.S. imports come from Canada, Japan, Mexico, and China.

How has NAFTA influenced international trade?

A company with high demand for its product in a particular foreign market that is associated with high transportation costs would tend to arrange a strategic alliance over any other international organization structure.

Should telephone technology be considered an absolute advantage in Finland? Explain.

How might sociocultural differences affect sales of Nokia phones outside Finland?

Which of the following is NOT considered an international organizational structure?

The primary purpose of the World Trade Organization is to impose tariffs on imported products.

The United States has large trade deficits with Japan, China, and Mexico; this means that the United States has imported more from them than what they have purchased from us.

Which of the following nations is NOT contained within a major world economic marketplace?

Saudi Arabian oil is an example of an absolute advantage.

The Us Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Business Management

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

Pricing, Distributing, and Promoting Products

Information Technology for Business

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters