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Saint GBA440 quiz 2




Question;1. Question;Laissez-faire economics refers to which of the following?;Student Answer;Less government interference in commerce and greater individual economic;freedom;A centrally planned economic system;Government-controlled commerce and individual;control effort;Creating monopolies through government;partnership;Points Received: 1 of 1;Comments;Question 2. Question;In most failed centrally planned economies ________.;Student Answer: market conditions;helped determine who produced various goods;prices of products were a function of supply;and demand;central planning agencies specified production;goals and decided prices;central planners paid attention to efficiency;improvement;Points Received: 1 of 1;Comments;Question 3. Question;According to mercantilism, accumulation of national wealth;depended on ________.;Student Answer;increasing a nation's trade surplus;expanding a nation's total value of trade;expanding a nation's total volume of trade;increasing a nation's trade deficit;Points Received: 1 of 1;Comments;Question 4. Question;Adam Smith believed which of the following?;Student Answer: International;trade should be restricted by tariffs and quotas.;Governments should intervene to maintain a;balance of exports and imports.;Market forces should determine trade flows.;Countries should produce most goods themselves;and trade as little as possible.;Points Received: 1 of 1;Comments;Question 5. Question;According to the theory of ________, 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.;Student Answer: absolute;advantage;mercantilism;comparative advantage;factor proportions;Points Received: 1 of 1;Comments;Question 6. Question;The focus of factor proportions theory is on the ________.;Student Answer;productivity of the production process;cost-effectiveness of the production process;use of abundant production factors;use of expensive production factors;Points Received: 1 of 1;Comments;Question 7. Question;The Porter diamond consists of all the following except;Student Answer: factor conditions;demand conditions;supply conditions;firm strategy, structure, and rivalry;Points Received: 1 of 1;Comments;Question 8. Question;Which of the following is not a problem associated with the;infant industry argument?;Student Answer;It can cause domestic companies to become overly innovative.;Once protection of an industry is given, it;can be politically difficult to eliminate.;Protection can do more economic harm than;good.;Governments might have difficulty identifying;the industries worth protecting.;Points Received: 1 of 1;Comments;Question 9. Question;Which of the following is not an example of an instrument;that government uses to promote trade?;Student Answer;Tariffs;Subsidies;Export financing;Foreign trade zones;Points Received: 1 of 1;Comments;Question 10. Question;A tariff levied by the government of a country that is;exporting a product is called a(n)________.;Student Answer;export tariff;ad valorem tariff;compound tariff;specific tariff;Points Received: 1 of 1;Comments;Question 11. Question;Which of the following is not a way in which the Uruguay;Round of Negotiations modified the original General Agreement on Tariffs and;Trade (GATT) treaty?;Student Answer: It clearly;defined intellectual property rights.;It established the World Trade Organization to;regulate trade between nations.;It drastically reduced tariffs and nontariff;barriers in telecommunications.;It included international trade in services;for the first time.;Points Received: 1 of 1;Comments;Question 12. Question;The purchase of physical assets or a significant amount of;ownership (stock) of a company in another country to gain a measure of;management control is called ________.;Student Answer;foreign direct investment;portfolio investment;mergers;vertical integration;Points Received: 1 of 1;Comments;Question 13. Question;In the ________ product stage of the international product;life cycle theory, increased competition pressures a company to produce in;low-cost developing nations.;Student Answer: new;IN maturing;standardized;declining;Points Received: 0 of 1;Comments;Question 14. Question;Economic integration whereby countries remove all barriers;to trade among themselves, but each country determines its own barriers against;nonmembers, is called a(n) ________.;Student Answer: economic union;IN customs union;common market;free trade area;Points Received: 0 of 1;Comments;Question 15. Question;is the set of planned actions taken by managers to;help a company meet its objectives.;Student Answer: Mission;formulation;Planning;Value chain analysis;Strategy;Points Received: 1 of 1;Comments;Question 16. Question;A strategy that establishes research and development;(R&D), production, and marketing at the subsidiary level is called a;strategy.;Student Answer: retrenchment;global;multinational;stability;Points Received: 1 of 1;Comments;Question 17. Question;A ________ strategy can cause a company to overlook;important differences in buyer preferences from one market to another.;Student Answer;global;retrenchment;multidomestic;multinational;Points Received: 1 of 1;Comments;Question 18. Question;Collection and analysis of information used to assist;managers in making informed decisions is known as ________.;Student Answer: data collection;market research;secondary market research;market analysis;Points Received: 1 of 1;Comments;Question 19. Question;In countries with high illiteracy rates, a(n);should not be used to collect information.;Student Answer: personal;interview;observation of behavior;written survey;group interview;Points Received: 1 of 1;Comments;Question 20. Question;The process of obtaining information that already exists;within the company or that can be obtained from outside sources is called;Student Answer;secondary market research;logistics management;primary market research;invalid market research;Points Received: 1 of 1;Comments;Question 21. Question;When an exporter ships merchandise and later bills the;importer for its value, it is using a(n) ________ type of export/import;financing.;Student Answer: advance payment;open account;letter of credit;documentary collection;Points Received: 1 of 1;Comments;Question 22. Question;Which of the following is a contractual entry mode in which;one company supplies another with intangible property and other assistance over;an extended period?;Student Answer;Franchising;Management contract;Licensing;Strategic alliance;Points Received: 1 of 1;Comments;Question 23. Question;Which of the following refers to the name of one or more;items in a product line that identifies the source or character of the items?;Student Answer: Product;description;Image tag;Brand name;Unique descriptor;Points Received: 1 of 1;Comments;Question 24. Question;Which of the following is not an example of a product that;is commonly counterfeited?;Student Answer: Perfume;Books;Clothing;Watches;Points Received: 1 of 1;Comments;Question 25. Question;The term ________ refers to a company's efforts to reach;distribution channels and target customers through communications such as;personal selling, advertising, public relations, and direct marketing.;Student Answer: marketing;objectives;distribution policies;promotion mix;value density;Points Received: 1 of 1;Comments;Question 26. Question;Examples of pull strategies include each of the following;except ________.;Student Answer: mass media;advertising;direct marketing techniques;free trial packages;encouraging good retail visibility;Points Received: 1 of 1;Comments;Question 27. Question;Companies along a distribution channel that work together in;delivering products to customers are called ________.;Student Answer: arbitrageurs;intermediaries;solicitors;reduction planners;Points Received: 1 of 1;Comments;Question 28. Question;refers to the process of selecting the location for;production facilities.;Student Answer: Capacity planning;Facilities layout planning;Facilities location planning;Production location planning;Points Received: 1 of 1;Comments;Question 29. Question;An expatriate manager who returns from an overseas;assignment to find that there is no position for him in his home country office;would most likely experience which of the following?;Student Answer;Reverse culture shock;Decruitment;Expatriate failure;Culture shock;Points Received: 1 of 1;Comments;Question 30. Question;Top management contends that Hafstrom would benefit most;from continuing to manufacture its own parts, even if they are made at another;location overseas. Which of the following is being recommended in this;approach?;Student Answer: Venture;capitalization;Just-in-time manufacturing;Vertical integration;Outsourcing;Points Received: 1 of 1;Comments


Paper#52519 | Written in 18-Jul-2015

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