Question 1

Chile, Brazil, Mexico, South Korea, Singapore, and Taiwan are examples of ________ countries.

Accepted Answer

A)  least-developed 
B)  Third World 
C)  underdeveloped 
D)  newly industrialized 
E)  closed economy 
A)  least-developed 
B)  Third World 
C)  underdeveloped 
D)  newly industrialized 
E)  closed economy D

Question 2

What is the largest common-market agreement in the Americas?

Accepted Answer

A)  CFTA 
B)  NAFTA 
C)  Mercosur 
D)  DR-CAFTA 
E)  SAFTA 
A)  CFTA 
B)  NAFTA 
C)  Mercosur 
D)  DR-CAFTA 
E)  SAFTA B

Question 3

The Mercosur originally envisioned central institutions similar to those of the European Union institutions.

Accepted Answer

A) True 
 B)False  False

Question 4

According to the U.S. Department of Commerce, Latin American and other emerging markets will account for ________ of the world's total growth in the next two decades and beyond.

Accepted Answer

A)  20% 
B)  30% 
C)  50% 
D)  75% 
E)  90% 
A)  20% 
B)  30% 
C)  50% 
D)  75% 
E)  90%

Question 5

What is considered the single most important environmental element of a country to which the foreign marketer must adjust the marketing task?

Accepted Answer

A)  political stability 
B)  economic level 
C)  social norms 
D)  literacy level 
E)  cultural orientation 
A)  political stability 
B)  economic level 
C)  social norms 
D)  literacy level 
E)  cultural orientation

Question 6

CARICOM established the CSME (CARICOM Single Market and Economy) with the major goal of

Accepted Answer

A)  establishing central institutions similar to those of the European Union institutions. 
B)  forming a political union. 
C)  implementing a common currency for all member nations. 
D)  increasing nontariff barriers. 
E)  implementing uniform customs procedures. 
A)  establishing central institutions similar to those of the European Union institutions. 
B)  forming a political union. 
C)  implementing a common currency for all member nations. 
D)  increasing nontariff barriers. 
E)  implementing uniform customs procedures.

Question 7

One way that LAIA differs from LAFTA, its predecessor, is

Accepted Answer

A)  the differential treatment of member countries according to their level of economic development. 
B)  the inclusion of rules of origin. 
C)  the exclusion of tariff barrier. 
D)  the members are forbidden from establishing bilateral trade agreements among member countries. 
E)  the introduction of a common currency for the member countries. 
A)  the differential treatment of member countries according to their level of economic development. 
B)  the inclusion of rules of origin. 
C)  the exclusion of tariff barrier. 
D)  the members are forbidden from establishing bilateral trade agreements among member countries. 
E)  the introduction of a common currency for the member countries.

Question 8

Economic ________ refers to an increase in national production that is reflected by an increase in the average per capita gross domestic product or gross national income.

Accepted Answer

A)  repression 
B)  duress 
C)  equilibrium 
D)  development 
E)  sustainability 
A)  repression 
B)  duress 
C)  equilibrium 
D)  development 
E)  sustainability

Question 9

The United Nations' classification of stages of economic development has been criticized primarily because

Accepted Answer

A)  many countries that are classified as LDCs are industrializing at a very rapid rate, while others are advancing at more traditional rates of economic development. 
B)  countries classified as LLDCs are growing at a very rapid rate. 
C)  it no longer takes into account social overhead capital as an indicator of economic development. 
D)  it only focuses on the literacy level in a country. 
E)  countries that are classified as LDCs are industrializing at a slow rate. 
A)  many countries that are classified as LDCs are industrializing at a very rapid rate, while others are advancing at more traditional rates of economic development. 
B)  countries classified as LLDCs are growing at a very rapid rate. 
C)  it no longer takes into account social overhead capital as an indicator of economic development. 
D)  it only focuses on the literacy level in a country. 
E)  countries that are classified as LDCs are industrializing at a slow rate.

Question 10

As a country develops, market behavior changes and eventually it leads to market segmentation.

Accepted Answer

A) True 
 B)False

Question 11

Canada is a member of NAFTA.

Accepted Answer

A) True 
 B)False

Question 12

Consumption patterns change rapidly in static economies.

Accepted Answer

A) True 
 B)False

Question 13

The three members of the North American Free Trade Agreement (NAFTA) are

Accepted Answer

A)  the United States, the United Kingdom, and France. 
B)  the United States, Cuba, and Uruguay. 
C)  Canada, China, and Japan. 
D)  the United States, France, and Germany. 
E)  Canada, Mexico, and the United States. 
A)  the United States, the United Kingdom, and France. 
B)  the United States, Cuba, and Uruguay. 
C)  Canada, China, and Japan. 
D)  the United States, France, and Germany. 
E)  Canada, Mexico, and the United States.

Question 14

Newly industrialized countries (NICs) differ from less-developed countries in that NICs

Accepted Answer

A)  include Canada, the United States, and Germany. 
B)  attract insignificant or no foreign investment. 
C)  have per capita incomes that are lower than other developing countries. 
D)  have moved away from restrictive trade practices and instituted significant free market reforms. 
E)  have shown slow industrialization and expansion of targeted industries. 
A)  include Canada, the United States, and Germany. 
B)  attract insignificant or no foreign investment. 
C)  have per capita incomes that are lower than other developing countries. 
D)  have moved away from restrictive trade practices and instituted significant free market reforms. 
E)  have shown slow industrialization and expansion of targeted industries.

Question 15

What is an indicator of a country's economic development?

Accepted Answer

A)  population expansion 
B)  expanding state ownership 
C)  the country's infrastructure 
D)  social reformation 
E)  cultural diversity 
A)  population expansion 
B)  expanding state ownership 
C)  the country's infrastructure 
D)  social reformation 
E)  cultural diversity

Question 16

Explain the importance of time zones for trade relationships and marketing operations. What are the three multinational market regions that comprise major trading blocs?

Accepted Answer

Time zones make a difference. Jet lag is

Question 17

Explain the concept of economic development.

Accepted Answer

Economic development is generally unders

Question 18

Given the fact that NAFTA is now effective in the U.S., Mexico, and Canada, an American company that has its production plant in Sri Lanka will be willing to relocate its production plant to Mexico mostly because

Accepted Answer

A)  it will improve the image of its goods. 
B)  Mexico has lower wages than Sri Lanka. 
C)  it will enable the company to get an entirely western consumer base for its products. 
D)  moving finished goods from Mexico to the United States is cheaper and faster than moving them from Sri Lanka. 
E)  workers in Mexico are more skilled than those in Sri Lanka. 
A)  it will improve the image of its goods. 
B)  Mexico has lower wages than Sri Lanka. 
C)  it will enable the company to get an entirely western consumer base for its products. 
D)  moving finished goods from Mexico to the United States is cheaper and faster than moving them from Sri Lanka. 
E)  workers in Mexico are more skilled than those in Sri Lanka.

Question 19

The United States-Canada Free Trade Area (CFTA) was a customs union like the European Community.

Accepted Answer

A) True 
 B)False

Question 20

What is the second-largest common-market agreement in the Americas, after NAFTA?

Accepted Answer

A)  CFTA 
B)  TPP 
C)  Mercosur 
D)  DR-CAFTA 
E)  SAFTA 
A)  CFTA 
B)  TPP 
C)  Mercosur 
D)  DR-CAFTA 
E)  SAFTA

Chile, Brazil, Mexico, South Korea, Singapore, and Taiwan are examples of ________ countries.

What is the largest common-market agreement in the Americas?

The Mercosur originally envisioned central institutions similar to those of the European Union institutions.

According to the U.S. Department of Commerce, Latin American and other emerging markets will account for ________ of the world's total growth in the next two decades and beyond.

What is considered the single most important environmental element of a country to which the foreign marketer must adjust the marketing task?

CARICOM established the CSME (CARICOM Single Market and Economy) with the major goal of

One way that LAIA differs from LAFTA, its predecessor, is

Economic ________ refers to an increase in national production that is reflected by an increase in the average per capita gross domestic product or gross national income.

The United Nations' classification of stages of economic development has been criticized primarily because

As a country develops, market behavior changes and eventually it leads to market segmentation.

Canada is a member of NAFTA.

Consumption patterns change rapidly in static economies.

The three members of the North American Free Trade Agreement (NAFTA) are

Newly industrialized countries (NICs) differ from less-developed countries in that NICs

What is an indicator of a country's economic development?

Explain the importance of time zones for trade relationships and marketing operations. What are the three multinational market regions that comprise major trading blocs?

Explain the concept of economic development.

Given the fact that NAFTA is now effective in the U.S., Mexico, and Canada, an American company that has its production plant in Sri Lanka will be willing to relocate its production plant to Mexico mostly because

The United States-Canada Free Trade Area (CFTA) was a customs union like the European Community.

What is the second-largest common-market agreement in the Americas, after NAFTA?

The Scope and Challenge of International Marketing

The Dynamic Environment of International Trade

History and Geography: the Foundations of Culture

Cultural Dynamics in Assessing Global Markets

Culture, Management Style, and Business Systems

The Political Environment: a Critical Concern

The International Legal Environment: Playing by the Rules

Developing a Global Vision Through Marketing Research

Europe, Africa, and the Middle East

The Asia Pacific Region

Global Marketing Management: Planning and Organization

Products and Services for Consumers

Products and Services for Businesses

International Marketing Channels

Integrated Marketing Communications and International Advertising

Personal Selling and Sales Management

Pricing for International Markets

Inventive Negotiations With International Customers, Partners, and Regulators

Filters

Exam 9: Economic Development and the Americas

Chile, Brazil, Mexico, South Korea, Singapore, and Taiwan are examples of ________ countries.

What is the largest common-market agreement in the Americas?

The Mercosur originally envisioned central institutions similar to those of the European Union institutions.

According to the U.S. Department of Commerce, Latin American and other emerging markets will account for ________ of the world's total growth in the next two decades and beyond.

What is considered the single most important environmental element of a country to which the foreign marketer must adjust the marketing task?

CARICOM established the CSME (CARICOM Single Market and Economy) with the major goal of

One way that LAIA differs from LAFTA, its predecessor, is

Economic ________ refers to an increase in national production that is reflected by an increase in the average per capita gross domestic product or gross national income.

The United Nations' classification of stages of economic development has been criticized primarily because

As a country develops, market behavior changes and eventually it leads to market segmentation.

Canada is a member of NAFTA.

Consumption patterns change rapidly in static economies.

The three members of the North American Free Trade Agreement (NAFTA) are

Newly industrialized countries (NICs) differ from less-developed countries in that NICs

What is an indicator of a country's economic development?

Explain the importance of time zones for trade relationships and marketing operations. What are the three multinational market regions that comprise major trading blocs?

Explain the concept of economic development.

Given the fact that NAFTA is now effective in the U.S., Mexico, and Canada, an American company that has its production plant in Sri Lanka will be willing to relocate its production plant to Mexico mostly because

The United States-Canada Free Trade Area (CFTA) was a customs union like the European Community.

What is the second-largest common-market agreement in the Americas, after NAFTA?

The Scope and Challenge of International Marketing

The Dynamic Environment of International Trade

History and Geography: the Foundations of Culture

Cultural Dynamics in Assessing Global Markets

Culture, Management Style, and Business Systems

The Political Environment: a Critical Concern

The International Legal Environment: Playing by the Rules

Developing a Global Vision Through Marketing Research

Europe, Africa, and the Middle East

The Asia Pacific Region

Global Marketing Management: Planning and Organization

Products and Services for Consumers

Products and Services for Businesses

International Marketing Channels

Integrated Marketing Communications and International Advertising

Personal Selling and Sales Management

Pricing for International Markets

Inventive Negotiations With International Customers, Partners, and Regulators

Filters