1. GNP Gross national product (GNP) is the value of all goods and services produced by a country during a one-month period, excluding income generated by both domestic production and the country’s international activities.TrueFalse Save Answer 2. Globalization In the debate over inequality, studies suggest that developing nations are unable to boost incomes of their poorest members of society by integrating themselves into the global economy.TrueFalse Save Answer 3. Globalization 1 Globalization benefits companies by allowing them to sell the same products worldwide with little or no _______ a. modification b. advertising c. exportation d. effort e. standardizationSave Answer 4. Globalization 2 The globalization of markets benefits companies by ________. a. reducing costs through the standardization of marketing activities b. strengthening national sovereignty c. creating new market opportunities d. both A and C e. all of the aboveSave Answer 5. Globalization 3 Two major forces that underlie the expansion of globalization are ________ and ________. a. visa regulations; declining tourism b. trademarks; patents c. trade barriers; political unrest d. falling barriers to trade and investment; technological innovation e. the Internet; weakening currenciesSave Answer 6. GNP2 The value of all goods and services produced by a country’s domestic and international activities over a one-year period is called ________. a. gross domestic product (GDP) b. globalization of production (GOP) c. guns and roses (GNR) d. gross national product (GNP) e. imports and exports (IAE)Save Answer 7. Globalization 4 Barriers facing some of the world’s “least global” nations include ________. a. never-ending political unrest and corruption b. recurring droughts c. volatile prices on commodity markets d. terrorism e. all of the aboveSave Answer 8. Tariff-free zones A special region in which companies can engage in tariff-free importing and exporting is called a(n) ________. a. U.S. customs zone (USCZ) b. export-processing zone (EPZ) c. duty-free zone (DFZ) d. free trade area (FTA) e. regional economic integration zone (REIZ)Save Answer 9. Chap2 Ethnocentricity improves the ability to manage employees, market products, and conduct negotiations in other countries.TrueFalse Save Answer 10. Chap2 – 1 Although the nation-state plays a role in the development of national culture, cultural boundaries do not always correspond to political boundaries.TrueFalse Save Answer 11. Chap2 – 2 Using national flags as symbols for buttons to click to view different language versions of a company’s web site is always appropriate because it avoids potential cultural problems.TrueFalse Save Answer 12. Chap2 – 3 In Asian cultures, associates of equal standing bow about 45 degrees toward one another, but showing proper respect for elders requires a bow of about 90 degrees.TrueFalse Save Answer 13. Chap2 – 4 Typically, the first step in the process of analyzing a nation’s potential as a host for international business activity is to ________. a. find suitable housing b. investigate its governmental oversight c. analyze its religious environment d. find a cultural match with the home country e. assess its overall business climateSave Answer 14. Chap2 – 5 The United Kingdom and the United States value ________, whereas Japan and South Korea value ________. a. individual freedom; group consensus b. the caste system; the class system c. quality of life; quantity of life d. free speech; politeness e. aesthetics; ethnocentricitySave Answer 15. Chap2 – 6 Companies that want to avoid the charge of cultural imperialism should ________. a. focus not only on meeting people’s product needs, but also on how their activities and products affect people’s traditional ways and habits b. quickly launch new investment projects or management practices to avoid prolonged resistance to change c. implement new investment projects and management practices only during volatile times d. maintain a standardized approach to strategy with policy decisions made at headquarters e. all of the aboveSave Answer 16. Chap2 – 7 A knife would NOT be an appropriate gift to a business associate in ________. a. Russia b. France c. Germany d. A & C e. all of the aboveSave Answer 17. Chap3 – 1 Pure Internet companies ________. a. can avoid local laws and politics since they do not have a physical presence in other countries b. must adapt to local politics and law c. are exempt from most local regulations because of their unique intangible nature d. should act according to their own corporate culture, not the local environment e. both A and DSave Answer 18. Chap3 – 2 The Swiss system of public referendums works because ________. a. Swiss culture has little trust in representative democracy b. Switzerland consists of a relatively small population in a small geographic area c. the Swiss are precise and good at performing their civic duties d. politicians generally rig the results prior to the referendum e. of extensive training provided to Swiss citizensSave Answer 19. Chap3 – 3 A political system in which political leaders rely on military and bureaucratic power is called ________. a. theocratic totalitarianism b. autocratic socialism c. secular anarchism d. secular totalitarianism e. communismSave Answer 20. Chap3 – 4 The government of which of the following countries is currently a mix of communist and right-wing totalitarianism? a. China b. Kenya c. Poland d. India e. IranSave Answer 21. Chap3 – 5 ________ risk threatens companies within a particular industry. a. Local content b. Macro c. both A and C d. Micro e. PropertySave Answer 22. Chap3 – 6 Which of the following is the forced transfer of assets from a company to the government without compensation? a. Expropriation b. Nationalization c. Theft d. Nationalism e. ConfiscationSave Answer 23. Chap3 – 7 A copyright is granted for ________ but not for ________. a. the tangible expression of an idea; the idea itself b. trademarks; patents c. the idea itself; the physical product d. products; services e. patents; trademarksSave Answer 24. Chap3 – 8 The United Nations ________ has a broad mandate in the areas of international trade and economic development. a. Committee for Broad Mandates b. Conference on Trade and Development c. United Nations Framework Convention on Climate Change d. Committee for Tariffs and Trade e. Congress for International TradeSave Answer 25. Chap4 – 1 Which of the following is NOT true of good guanxi? 1. Business before pleasure. 2. Business partners are sometimes invited to family functions. 3. Contacts are more important than contracts. 4. Research is critical to success.Save Answer 26. Chap4 – 2 In a market economy, preservation and protection of individual property rights is important because ________. a. it encourages individuals and companies to take risks b. of competition c. of federal rulings on antitrust cases d. all of the above e. none of the aboveSave Answer 27. Chap4 – 3 ________ policies are used to control the money supply and interest rates. a. Development b. Monetary c. Bureaucratic d. Fiscal e. MarketSave Answer 28. Chap4 – 4 If GDP per capita at PPP is lower in Country X than it is in Country Y, ________. a. it costs less to buy the same basket of goods in Country X than it does in Country Y b. this is insufficient information to make any assumptions about the cost of living in these two countries. c. it costs the same to buy the same basket of goods in both countries d. it costs more to buy the same basket of goods in Country X than it does in Country YSave Answer 29. Chap4 – 5 Which of the following is NOT true? a. Countries with the lowest economic freedom tend to have the lowest standards of living. b. The connection between economic freedom and economic growth is not at all certain. c. Countries with the greatest economic freedom tend to have the highest standards of living. d. Economic freedom guarantees a high per capita income.Save Answer 30. Chap4 – 6 Scenario: Cleanshot USA in RussiaWhen Cleanshot USA, a photography products company, decided to enter the international arena it chose Russia as its main market. Although Russia has been in transition for years, Cleanshot believes it has tremendous opportunities there.Russia is an economy in transition from ________. a. market economics to centrally planned economics b. centrally planned economics to free-market economics c. centrally-planned economics to mixed economics d. mixed economics to centrally planned economics e. capitalist economics to mixed economicsSave Answer 31. Chap4 – 7 Scenario: Learning the American WaySergei Chernovl is a Russian exchange student. To learn more about how a market economy functions, Sergei is writing a research paper comparing business in Russia with business in the United StatesSergei knows that an important factor in a market-based economy is privately operated companies. As Russia goes through the privatization process, its main objective is to ________. a. increase economic efficiency, boost labor productivity, and raise living standards b. increase social welfare and land productivity c. increase employment and capital productivity d. increase tax revenues and productivity e. increase social justice, employment, and benefitsSave Answer 32. Chap4 – 8 Sam Johnson is an individual who accepts risks and opportunities involved in creating and operating new business ventures worldwide. He has been considering China, France, or Vietnam for his next venture.If Sam selects France for his venture, he should know that France is a(n) ________. a. country on the decline b. emerging market c. centrally planned economy d. developing country e. mixed economySave Answer 33. Chap5 – 1 Over time, trade has consistently grown more slowly than world output.TrueFalse Save Answer 34. Chap5 -2 When a country’s currency is weak relative to other nations, imports are more expensive relative to domestic products.TrueFalse Save Answer 35. Chap5 -3 According to comparative advantage theory, trade is still beneficial even if one country is less efficient in the production of two goods, as long as it is less inefficient in the production of one of the goods.TrueFalse Save Answer 36. Chap5 – 4 One way to measure the importance of trade to a nation is to examine ________. a. the availability of natural resources that provides absolute advantage b. the volume of an economy’s trade relative to its total output c. the number of trade agreements it has with other countries d. its comparative advantage relative to those of its neighbors e. its human development index relative to its CPISave Answer 37. Chap5 – 5 The theory of absolute advantage destroys the mercantilist idea that international trade is a ________. a. negative-sum game b. zero-sum game c. positive-sum game d. winner-take-allSave Answer 38. Chap5 – 6 Under factor proportions theory, a nation’s resources include all of the following EXCEPT ________. a. land b. labor c. capital equipment d. informationSave Answer 39. Chap5 – 7 The Leontief paradox describes evidence ________. a. that the assumptions of new trade theory are invalid b. that U.S. exports require more labor-intensive production than its imports c. that U.S. exports require more capital-intensive production than its imports d. in support of factor proportions theorySave Answer 40. Chap5 – 8 New trade theory is in line with the theory of ________ but at odds with ________ theory. a. comparative advantage; factor proportions b. absolute advantage; comparative advantage c. international product life cycle; comparative advantage d. national competitive advantage; international product life cycle e. factor proportions; absolute advantageSave Answer
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