Question;The Nature of International Business and Cooperation among NQuestions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a pagebreak, 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 asB. less complex thanC. more complex thanD. less demanding than2. In 2010, only 23 nations had GNIs greater thanA. 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 theA. Secretariat.B. General Assembly.C. Security Council.D. Economic and Social Council.4. The main drivers of globalization depend onA. 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 preferenceis usingA. 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 ofinternational business.A. managers of multinationalsB. all managersC. managers of transnationalsD. managers of purely domestic operations7. A/An _______ is all forces influencing the life and development of the firm.A. local populationB. group poolC. environmentD. foreign exchange8. When market demand and supply regulate the exchange rate with intervention designed to moderate therate of change, it's called a/anA. 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 thecomposition of international trade came fromA. 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 withthe United Nations.A. IMFB. IBRDC. GATTD. OECD12. The Association of Southeast Asian Nations was formed to provide members with aA. 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 theA. 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 vehiclecurrency, and as an intervention currency.A. U.S. dollarB. yenC. British poundD. Euro15. An import duty that's a fixed percentage of the invoice value of an imported product is called a/an_______ duty.A. ad valoremB. specificC. invoiceD. compound16. _______ can be divided into portfolio and direct investment.A. ProductionB. Exchange rate investmentC. Foreign investmentD. Domestic investment17. Defining a standard unit of currency by its equivalent in gold is calledA. 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. crossB. priorityC. spotD. forward19. Treasury and Central Bank representatives met in _______ at the end of World War II and establishedthe IMF, the World Bank, and the gold exchange standard.A. JamaicaEnd of examB. BerlinC. DiekirchD. Bretton Woods20. Inflation is generally measured by calculating the changes inA. 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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