Question;The Nature of International Business and Cooperation among N;Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page;break, so be sure that you have seen the entire question and all the answers before choosing an answer.;1. Decision making in the international environment is _______ in a purely domestic environment.;A. about the same as;B. less complex than;C. more complex than;D. less demanding than;2. In 2010, only 23 nations had GNIs greater than;A. the sum of the GNIs of Japan, Germany, and France.;B. Walmart's total annual sales.;C. the total sales of Exxon Mobil and Citigroup.;D. the sum of the combined sales of Ford and General Electric.;3. The United Nations organ involved in trade development, education, and health issues is the;A. Secretariat.;B. General Assembly.;C. Security Council.;D. Economic and Social Council.;4. The main drivers of globalization depend on;A. the foreign environment.;B. domestic growth.;C. change.;D. cultural differences.;5. An international business manager who bases decisions solely on his or her own experience or preference;is using;A. the self-reference criterion.;B. internalization theory.;C. controllable forces.;D. domestic standards.;6. The increased internationalization of business requires _______ to have a basic knowledge of;international business.;A. managers of multinationals;B. all managers;C. managers of transnationals;D. managers of purely domestic operations;7. A/An _______ is all forces influencing the life and development of the firm.;A. local population;B. group pool;C. environment;D. foreign exchange;8. When market demand and supply regulate the exchange rate with intervention designed to moderate the;rate of change, it's called a/an;A. crawling peg.;B. independent float.;C. market method.;D. fixed peg.;9. What is an economy of scale?;A. The price of scales exceeds the cost of producing them.;B. The price of scales is lower than the cost of producing them.;C. As a plant gets larger, the average cost of producing a unit of output increases.;D. As a plant gets larger, the average cost of producing a unit of output decreases.;10. The idea that market forces, not government controls, should determine direction, volume, and the;composition of international trade came from;A. the Ottoman Empire.;B. Milton Friedman.;C. Adam Smith.;D. Salvador Allende.;11. The _______, a collaboration of nations pooling money to lend to countries in debt, is associated with;the United Nations.;A. IMF;B. IBRD;C. GATT;D. OECD;12. The Association of Southeast Asian Nations was formed to provide members with a;A. plan for mutual protection and peaceful relations.;B. common market.;C. way to join with China as a political force.;D. free trade area.;13. The organization established along with the IMF at the Bretton Woods meeting is the;A. United Nations.;B. Bank for International Settlements.;C. World Bank.;D. International Monetary Fund.;14. The _______ has had a central role as a main central reserve asset of many countries, as a vehicle;currency, and as an intervention currency.;A. U.S. dollar;B. yen;C. British pound;D. Euro;15. An import duty that's a fixed percentage of the invoice value of an imported product is called a/an;duty.;A. ad valorem;B. specific;C. invoice;D. compound;16. _______ can be divided into portfolio and direct investment.;A. Production;B. Exchange rate investment;C. Foreign investment;D. Domestic investment;17. Defining a standard unit of currency by its equivalent in gold is called;A. coinage.;B. the price specie flow.;C. the gold standard.;D. par value.;18. The exchange rate for a currency trade for delivery within two days is called the _______ rate.;A. cross;B. priority;C. spot;D. forward;19. Treasury and Central Bank representatives met in _______ at the end of World War II and established;the IMF, the World Bank, and the gold exchange standard.;A. Jamaica;End of exam;B. Berlin;C. Diekirch;D. Bretton Woods;20. Inflation is generally measured by calculating the changes in;A. the balance of payments of 10 nations.;B. interest rates.;C. exchange prices.;D. the prices of a variety of goods and services.
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