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Question;Top of Form;Question 1;Which of the following is not characteristic of;globalization?;National economies are turning into independent economic;systems.;Material culture is starting to look similar the world;over.;Perceived distance is shrinking due to advances in;transportation and telecommunications.;Barriers to cross-border trade and investment are;declining.;0.5 points;Question 2;Globalization has _____ the opportunities for a firm to;expand its revenues by selling around the world and _____ its costs by;producing in nations where key inputs are cheap.;reduced, reduced;increased, increased;increased, reduced;reduced, increased;0.5 points;Question 3;Since the collapse of communism at the end of the 1980s, the;erstwhile communist nations have transformed their economies by encouraging all;of the following except;privatizing state-owned enterprises.;regulating markets.;increasing competition.;welcoming investment by foreign businesses.;0.5 points;Question 4;Identify the incorrect statement concerning globalization.;It has been blamed for unemployment in developed nations;environmental degradation and the Americanization of popular culture.;It has created new threats for businesses accustomed to;dominating their domestic markets.;It is transforming industries and is highly welcomed by;those who believed their jobs were protected from foreign competition.;According to most economists it is a very beneficial;process where gains outweigh the losses by a wide margin.;0.5 points;Question 5;In the U.S., _____ percent of firms that export are small;companies employing fewer than 100 people.;90;75;50;30;0.5 points;Question 6;Interdependent political, economic, and legal systems of a;country make up its;administrative agenda.;socioeconomic fabric.;economic environment.;political economy.;0.5 points;Question 7;is consistent with the notion that an individual's;right to do something may be restricted because it runs counter to "the;good of society" or "the common good.;Entrepreneurship;Collectivism;Free enterprise;Capitalism;0.5 points;Question 8;According to _____, socialism can only be achieved through;violent revolution.;capitalists;communists;social democrats;democrats;0.5 points;Question 9;is/are best defined as shared assumptions about how;things ought to be.;Norms;Values;Society;Culture;0.5 points;Question 10;are social conventions concerning things such as the;appropriate dress code in a particular situation, good social manners, eating;with the correct utensils, neighborly behavior, and the like.;Values;Beliefs;Mores;Folkways;0.5 points;Question 11;Mores are;the norms that are seen as central to the functioning of a;society and its social life.;the routine conventions of everyday life.;abstract ideas about what a group believes to be right;good, and desirable.;the social rules and guidelines that prescribe appropriate;behavior in particular situations.;0.5 points;Question 12;The theory of _____, developed by Michael Porter, focuses on;the importance of country factors, in addition to factor endowments, such as;domestic demand and domestic rivalry in explaining a nation's dominance in the;production and export of particular products.;new trade;absolute advantage;comparative advantage;national competitive advantage;0.5 points;Question 13;The theory of _____ makes a crude case for government;involvement in promoting exports and limiting imports.;mercantilism;free trade;absolute advantage;comparative advantage;0.5 points;Question 14;By lowering production costs, _____ help domestic producers;compete against foreign imports.;tariffs;duties;quotas;subsidies;0.5 points;Question 15;In the United States, the only firms allowed to import;cheese are certain trading companies, each of which is allocated the right to;import a maximum number of pounds of cheese each year. Identify the trade;restriction being imposed by the United States.;Import quota;Subsidy;Ad valorem tariff;Specific tariff;0.5 points;Question 16;A quota rent is;a quota on trade imposed by the exporting country.;levied as a fixed charge for each unit of a good imported.;levied as a proportion of the value of the imported good.;the extra profit producers make when supply is;artificially limited by an import quota.;0.5 points;Question 17;Which of the following is not a reason why firms prefer to;acquire existing assets rather than undertake greenfield investments?;Foreign firms are acquired because those firms have;valuable strategic assets.;Firms make acquisitions because they believe they can;increase the efficiency of the acquired unit by transferring capital;technology, or management skills.;Even though greenfield investments are comparatively less;risky for a firm, acquisitions always yield higher profits.;Mergers and acquisitions are quicker to execute than;greenfield investments.;0.5 points;Question 18;The rise in FDI in the services sector is a result of all of;the following except;the general move in many developed countries away from;manufacturing and toward services.;accelerating regulations of services.;many services cannot be traded internationally.;many countries have liberalized their regimes governing;FDI in services.;0.5 points;Question 19;Identify the theory that seeks to explain why firms often;prefer foreign direct investment over licensing as a strategy for entering;foreign markets.;Internalization theory;Internationalization theory;Perfect markets theory;Small markets theory;0.5 points;Question 20;An agreement between countries in a geographic region to;reduce tariff and nontariff barriers to the free flow of goods, services, and;factors of production between each other is referred to as;regional economic integration.;socioeconomic integration.;political integration.;economic-political integration.;0.5 points;Question 21;In 1991, Argentina, Brazil, Paraguay, and Uruguay;implemented an agreement known as;NAFTA.;MERCOSUR.;APEC.;FTAA.;0.5 points;Question 22;Which of the following is true of a common market?;All barriers to the trade of goods and services among;member countries are removed and each country maintains its own policy toward;nonmember countries.;It involves the free flow of products and factors of;production between member countries and adoption of individual external trade;policies.;It has no barriers to trade between member countries;includes a common external trade policy, and allows factors of production to;move freely between members.;It eliminates trade barriers between member countries and;adopts a common external trade policy and a common currency.;0.5 points;Question 23;The rate at which one currency is converted into another is;the;replacement percentage.;resale rate.;exchange rate.;interchange ratio.;0.5 points;Question 24;The _____ helps us to compare the relative prices of goods;and services in different countries.;interest rate;customs rate;exchange rate;tariff rate;0.5 points;Question 25;When two parties agree to exchange currency and execute the;deal immediately, the transaction is a;point-in-time exchange.;temporal exchange.;spot exchange.;forward exchange.;0.5 points;Question 26;If lots of people want euros and euros are in short supply;and a few people want Japanese yen and yen are in plentiful supply, the euro is;likely to _____ against the yen.;depreciate;appreciate;devalue;stabilize;0.5 points;Question 27;If the demand for dollars outstrips its supply and if the;supply of Japanese yen is greater than the demand for it, what will happen?;The dollar will appreciate against the yen;The dollar will depreciate against the yen;The exchange rates will remain the same;The yen will appreciate against the dollar;0.5 points;Question 28;A _____ means the value of the currency is fixed relative to;a reference currency.;pegged exchange rate;dynamic exchange rate;floating exchange rate;fixed exchange rate;0.5 points;Question 29;The gold standard had its origin in the use of _____ as a;medium of exchange, unit;of account, and store of value.;the U.S. dollar;the British pound;paper currency;gold coins;0.5 points;Question 30;The great strength claimed for the gold standard was that it;contained a powerful mechanism for achieving _____ by all countries.;balance-of-trade equilibrium;economic stability;interest rate parity;equal tariff levels;0.5 points;Question 31;Market makers are;financial service companies that connect investors and;borrowers.;those who want to borrow money including individuals;companies, and governments.;nonbank financial institutions who want to invest money.;high net worth individuals with surplus cash to reinvest.;0.5 points;Question 32;All of the following are benefits of global capital markets;except;they increase the supply of funds available to borrowers.;that the risk to the investment portfolio is reduced to;below what could be achieved in a purely domestic capital market.;they provide a wider range of investment opportunities to;investors.;they have higher cost of capital as compared to purely;domestic capital markets.;0.5 points;Question 33;Which of the following statements is not true?;The way to increase the profitability of a firm is to;create more value.;The amount of value a firm creates is measured by the;difference between its costs of production and the value that consumers;perceive in its products.;The more value customers place on a firm's products, the;higher the price the firm is able to charge for those products.;The price a firm charges for a good or service is typically;more than the value the customer places on that good or service.;0.5 points;Question 34;The price a firm charges for a good or service is typically;less than the value placed on that good or service by the customer. This is;because;the customer's disposable income is significantly higher;than what the market demands.;the customer captures some of that value in the form of a;consumer surplus.;regulatory mechanisms ensure that the customer is not;overcharged for products/services.;marketers implement psychological pricing tactics to;ensure that customers perceive the prices to be low.;0.5 points;Question 35;Which of the following is an example of a primary activity;in a firm's value chain?;Information systems;Research and development;Logistics;Human relations;0.5 points;Question 36;When companies disperse different stages of the value chain;to those locations around the world where perceived value is maximized or where;the costs of value creation are minimized, companies create;a differentiated organization.;a location economy curve.;economies of scale.;a global web of value creation activities.;0.5 points;Question 37;For U.S. firms, the most comprehensive source of export;opportunities information is the;Small Business Administration.;U.S. Department of Commerce.;Federal Trade Commission.;foreign embassy.;0.5 points;Question 38;A "best prospects" list;gives the names and addresses of potential distributors in;the domestic market.;is provided by the United States and Foreign Commercial;Service Agency.;can provide a firm free, customized market research survey;on any product.;provides information gathering, technical assistance, and;export subsidies.;0.5 points;Question 39;According to Levitt, which of the following statements is;true?;Technology drives the world toward a converging;commonalty.;There are accustomed differences in national preferences.;The multinational corporation operates in a number of;countries at low relative costs.;The global corporation operates with resolute consistency;at high relative costs.;0.5 points;Question 40;Which of the following statements is false?;Product reliability may be a more important attribute in;most advanced countries.;Consumers in highly developed countries tend to build a;lot of extra performance attributes into their products.;Consumers in the most developed countries are often not;willing to sacrifice their preferred attributes for lower prices.;Consumers in the most advanced countries often shun;globally standardized products that have been developed with the lowest;common denominator in mind.;0.5 points;Save and Submit;Click Save and Submit to save and submit. 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Paper#51707 | Written in 18-Jul-2015

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