Question 1

The West European buyers who purchase and resell Entrée Specialités' food products in their home countries are in the _____ business.

Accepted Answer

A)  importing
B)  exporting
C)  licensing
D)  domestic investment A

Question 2

According to the independent organization Transparency International, _____ suffers less business corruption than any other country.

Accepted Answer

A)  the United States
B)  Denmark
C)  Finland
D)  Sweden B

Question 3

One way of dealing with local laws and regulations in foreign countries is to hire local _____ to provide advice.

Accepted Answer

A)  advertising firms
B)  attorneys
C)  politicians
D)  underworld figures B

Question 4

All of the following pieces of advice are significant to someone preparing for a career in international business :

Accepted Answer

A)  plan your undergraduate education accordingly.
B)  get some direct experience in the area of international business.
C)  interact with people from other cultures.
D)  read widely about the types of businesses in countries that interest you.

Question 5

By studying a nation's economic environment, Chic managers can better calculate currency valuations and exchange rates.

Accepted Answer

A) True 
 B)False

Question 6

Under a(n) _____ between a U.S.?based company and a foreign company, in return for the right to use the parent company's brand name and sell its goods and services, the foreign company is required to adhere to an established business model.

Accepted Answer

A)  international franchising agreement
B)  international licensing agreement
C)  strategic alliance
D)  outsourcing contract

Question 7

A _____ is an agreement between two companies (or a company and a nation) to pool resources to achieve goals that benefit both partners.

Accepted Answer

A)  limited partnership
B)  strategic alliance
C)  direct investment

Question 8

To offset the dumping of goods on its soil, a country will usually _____.

Accepted Answer

A)  cut off diplomatic relations with the offending country
B)  impose punitive tariffs on dumped goods
C)  impose quotas on competing goods
D)  force domestic businesses to boycott dumped goods

Question 9

Nations practice dumping in order to _____.

Accepted Answer

A)  sell off surpluses of domestic goods that can't be sold in the home country
B)  clean out the economic system
C)  gain market share in developing countries
D)  all of these

Question 10

Although different countries have different communication styles, virtually all cultures share a basic core of expression values.

Accepted Answer

A) True 
 B)False

Question 11

Even if Cajun opens company-owned restaurants in a foreign country, it may have to buy local food products to supplement the menu; in fact, it may have to buy chicken from local producers for the standard menu.In doing so, the company would be engaged in _____.

Accepted Answer

A)  outsourcing
B)  licensing
C)  subcontracting
D)  importing

Question 12

Identify the various agreements and organizations that help to reduce international trade barriers.

Accepted Answer

The answer of Identify the various agreements and organizations that...

Question 13

In communicating with other countries or cultures, it's valuable to understand all of the following _____.

Accepted Answer

A)  the fact that different cultures have different communication styles
B)  certain subtle differences between cultures
C)  that cultural stereotypes shouldn't dictate interactions
D)  English, which is the prevalent language of business

Question 14

When researching global business opportunities, firms must grasp a variety of cultural, technological, economic, and political differences.

Accepted Answer

A) True 
 B)False

Question 15

If the U.S.dollar goes down relative to a foreign currency, buyers using that currency pay ____ for American goods and services.

Accepted Answer

A)  less
B)  more
C)  in American currency
D)  exorbitant prices

Question 16

When Whitlock Clothiers began overseas operations, top management had to learn to appreciate the _____ environments of other countries-that is, other people's systems of shared beliefs, values, customs, and behaviors.

Accepted Answer

A)  social
B)  political
C)  legal
D)  cultural

Question 17

Because businesspeople participate in a nation's culture, Chic managers must heed the Foreign Corrupt Practices Act in order to avoid contaminating foreign cultural environments.
(

Accepted Answer

A) True 
 B)False

Question 18

In _____ cultures, personal and work relationships tend to be compartmentalized.

Accepted Answer

A)  low-context
B)  high -context
C)  contextually disparate
D)  homogeneous

Question 19

Explain a nation's balance of payments.

Accepted Answer

The answer of Explain a nation's balance of payments....

Question 20

The principle of _____ explains why France can produce white wine at a lower opportunity cost than the neighboring country of Germany.

Accepted Answer

A)  comparative advantage
B)  absolute advantage
C)  capital ferment
D)  opportunity cost replacement

Exam 9: Business in a Global Environment

The West European buyers who purchase and resell Entrée Specialités' food products in their home countries are in the _____ business.

According to the independent organization Transparency International, _____ suffers less business corruption than any other country.

One way of dealing with local laws and regulations in foreign countries is to hire local _____ to provide advice.

All of the following pieces of advice are significant to someone preparing for a career in international business :

By studying a nation's economic environment, Chic managers can better calculate currency valuations and exchange rates.

Under a(n) _____ between a U.S.?based company and a foreign company, in return for the right to use the parent company's brand name and sell its goods and services, the foreign company is required to adhere to an established business model.

A _____ is an agreement between two companies (or a company and a nation) to pool resources to achieve goals that benefit both partners.

To offset the dumping of goods on its soil, a country will usually _____.

Nations practice dumping in order to _____.

Although different countries have different communication styles, virtually all cultures share a basic core of expression values.

Even if Cajun opens company-owned restaurants in a foreign country, it may have to buy local food products to supplement the menu; in fact, it may have to buy chicken from local producers for the standard menu.In doing so, the company would be engaged in _____.

Identify the various agreements and organizations that help to reduce international trade barriers.

In communicating with other countries or cultures, it's valuable to understand all of the following _____.

When researching global business opportunities, firms must grasp a variety of cultural, technological, economic, and political differences.

If the U.S.dollar goes down relative to a foreign currency, buyers using that currency pay ____ for American goods and services.

When Whitlock Clothiers began overseas operations, top management had to learn to appreciate the _____ environments of other countries-that is, other people's systems of shared beliefs, values, customs, and behaviors.

Because businesspeople participate in a nation's culture, Chic managers must heed the Foreign Corrupt Practices Act in order to avoid contaminating foreign cultural environments. (

In _____ cultures, personal and work relationships tend to be compartmentalized.

Explain a nation's balance of payments.

The principle of _____ explains why France can produce white wine at a lower opportunity cost than the neighboring country of Germany.