Question 1

A change in administration in a foreign government that is hostile to foreign trade is an example of a(n)

Accepted Answer

A)   political barrier.
B)   cultural barrier.
C)   exchange barrier.
D)   export quota.
E)   body language.F) A) and E)
G) C) and E)

Question 2

Around the globe,completely free trade is common.

Accepted Answer

A) True 
 B)False

Question 3

A balance of trade refers to the buying,selling,and trading of goods and services across national boundaries.

Accepted Answer

A) True 
 B)False

Question 4

The Webb-Pomerene Export Trade Act allows selected U.S.firms desiring international trade to form monopolies to compete with foreign cartels.

Accepted Answer

A) True 
 B)False

Question 5

The law that allows selected American firms desiring international trade to form monopolies to compete with foreign cartels is the

Accepted Answer

A)   Webb-Pomerene Export Trade Act.
B)   Bretton Woods Agreement.
C)   General Agreement on Tariffs and Trade.
D)   Foreign Corrupt Practices Act.
E)   Sherman Antitrust Act.F) B) and D)
G) B) and C)

Question 6

Exporting is the purchase of products from another nation.

Accepted Answer

A) True 
 B)False

Question 7

Political considerations change slowly,while laws change rapidly.

Accepted Answer

A) True 
 B)False

Question 8

The U.S.has a trade deficit because

Accepted Answer

A)   U.S.companies export more goods to other countries than foreign companies sell here.
B)   the U.S.imports too many products from China.
C)   the U.S.imports more products than it exports.
D)   American consumers stopped buying Chinese goods and services.
E)   American consumers buy far more domestic goods and services than foreign goods and services.F) None of the above
G) A) and D)

Question 9

Which of the following countries was an original member nation of Asia-Pacific Economic Cooperation?

Accepted Answer

A)   Belgium
B)   Mexico
C)   China
D)   Japan
E)   ChileF) A) and D)
G) C) and E)

Question 10

A group of nations or companies that band together to act as a monopoly is known as a

Accepted Answer

A)   conglomerate.
B)   licensor.
C)   cartel.
D)   multinational.
E)   licensee.F) A) and B)
G) D) and E)

Question 11

The fact that the U.S.company 3M owns a film-manufacturing facility in Italy is an example of

Accepted Answer

A)   contract manufacturing.
B)   a direct investment.
C)   a trading company.
D)   licensing.
E)   exporting.F) B) and D)
G) C) and D)

Question 12

Explain the phrase "Think globally,act locally."

Accepted Answer

This refers to the philosophy followed b...

Question 13

What is the difference between a multinational and a globalization strategy?

Accepted Answer

Companies doing business internationally...

Question 14

Understanding that Arab businessmen tend to stand face to face when holding a conversation reveals the importance of understanding another culture's use of

Accepted Answer

A)   language.
B)   dialect.
C)   religious practices.
D)   manners.
E)   body language.F) B) and D)
G) B) and E)

Question 15

As political barriers to trade fall internationally,new ______ are created for international business.

Accepted Answer

A)   opportunities
B)   threats
C)   strengths
D)   weaknesses
E)   competitionF) D) and E)
G) B) and E)

Question 16

When two computer companies joined together in hopes of obtaining a competitive advantage on a worldwide basis,this exemplifies a

Accepted Answer

A)   direct investment.
B)   contract manufacturing deal.
C)   cartel.
D)   joint venture.
E)   strategic alliance.F) B) and D)
G) C) and D)

Question 17

When Madison flies to Italy from the United States on a British airline,stays in Italian hotels,and buys clothing in Milan to bring home after her trip,she

Accepted Answer

A)   decreases the trade deficit.
B)   is exporting products to Italy and Great Britain.
C)   contributes to the negative balance of payments for the U.S.
D)   buys American-made goods overseas.
E)   contributes to the positive balance of payments for the U.S.F) A) and B)
G) B) and E)

Question 18

An understanding of which of the following realities is not required for businesspeople to plan in a global economy?

Accepted Answer

A)   Personal
B)   Economic
C)   Legal
D)   Political
E)   SocioculturalF) C) and E)
G) A) and B)

Question 19

A common reason for establishing quotas or tariffs is to prohibit dumping.

Accepted Answer

A) True 
 B)False

Question 20

Globalization refers only to products,not promotion or distribution.

Accepted Answer

A) True 
 B)False

Exam 3: Business in a Borderless World

The law that allows selected American firms desiring international trade to form monopolies to compete with foreign cartels is the

Correct AnswerverifiedShow Answer

Political considerations change slowly,while laws change rapidly.

Correct AnswerverifiedShow Answer

A group of nations or companies that band together to act as a monopoly is known as a

Correct AnswerverifiedShow Answer

As political barriers to trade fall internationally,new ______ are created for international business.

Correct AnswerverifiedShow Answer

The fact that the U.S.company 3M owns a film-manufacturing facility in Italy is an example of

Correct AnswerverifiedShow Answer

When Madison flies to Italy from the United States on a British airline,stays in Italian hotels,and buys clothing in Milan to bring home after her trip,she

Correct AnswerverifiedShow Answer

Exporting is the purchase of products from another nation.

Correct AnswerverifiedShow Answer

The U.S.has a trade deficit because

Correct AnswerverifiedShow Answer

Explain the phrase "Think globally,act locally."

Correct AnswerverifiedThis refers to the philosophy followed b...View AnswerShow Answer

Understanding that Arab businessmen tend to stand face to face when holding a conversation reveals the importance of understanding another culture's use of

Correct AnswerverifiedShow Answer

Globalization refers only to products,not promotion or distribution.

Correct AnswerverifiedShow Answer

What is the difference between a multinational and a globalization strategy?

Correct AnswerverifiedCompanies doing business internationally...View AnswerShow Answer

When two computer companies joined together in hopes of obtaining a competitive advantage on a worldwide basis,this exemplifies a

Correct AnswerverifiedShow Answer

A change in administration in a foreign government that is hostile to foreign trade is an example of a(n)

Correct AnswerverifiedShow Answer

A balance of trade refers to the buying,selling,and trading of goods and services across national boundaries.

Correct AnswerverifiedShow Answer

An understanding of which of the following realities is not required for businesspeople to plan in a global economy?

Correct AnswerverifiedShow Answer

Which of the following countries was an original member nation of Asia-Pacific Economic Cooperation?

Correct AnswerverifiedShow Answer

The Webb-Pomerene Export Trade Act allows selected U.S.firms desiring international trade to form monopolies to compete with foreign cartels.

Correct AnswerverifiedShow Answer

A common reason for establishing quotas or tariffs is to prohibit dumping.

Correct AnswerverifiedShow Answer

Around the globe,completely free trade is common.

Correct AnswerverifiedShow Answer

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This refers to the philosophy followed b...
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Companies doing business internationally...
View Answer

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