Question 1

The balance of trade is a record of a country's international transactions that take place among companies, governments, or individuals.

Accepted Answer

A) True 
 B)False

Question 2

The ________ starts with the same accounting framework used to calculate GDP but then adjusts for values assigned to environmental quality, population health, livelihood security, equity, free time, and educational attainment.

Accepted Answer

A) Gross National Index 
B) Net National Product 
C) Genuine Progress Indicator 
D) Human Development Index 
A) Gross National Index 
B) Net National Product 
C) Genuine Progress Indicator 
D) Human Development Index

Question 3

The United Nations' ________ measures life expectancy, educational attainment, and the standard of living in a given country.

Accepted Answer

A) Human Development Index 
B) Emerging Economic Stability 
C) Genuine Progress Indicator 
D) Net National Product 
A) Human Development Index 
B) Emerging Economic Stability 
C) Genuine Progress Indicator 
D) Net National Product

Question 4

________ is a general, sustained rise in prices measured against a standard level of purchasing power.

Accepted Answer

A) Deflation 
B) Inflation 
C) Expansion 
D) Reflation 
A) Deflation 
B) Inflation 
C) Expansion 
D) Reflation

Question 5

What is the difference between a command economy and state capitalism?

Accepted Answer

State Capitalism is an economic system w

Question 6

In computing GNI, the value of a Ford car that is manufactured in Mexico using capital from the United States would ________.

Accepted Answer

A) be added to the GNI of the United States as well as to the GNI and GDP of Mexico 
B) not be added to the GNI of the United States but would be added to the GNI of Mexico 
C) only affect the computation of GDP and have no bearing on GNI 
D) be added to the GNI of the United States but not the GNI of Mexico 
A) be added to the GNI of the United States as well as to the GNI and GDP of Mexico 
B) not be added to the GNI of the United States but would be added to the GNI of Mexico 
C) only affect the computation of GDP and have no bearing on GNI 
D) be added to the GNI of the United States but not the GNI of Mexico

Question 7

A mixed economy is a system where economic decisions are largely market driven and ownership is largely private, but the government intervenes in many private economic decisions.

Accepted Answer

A) True 
 B)False

Question 8

A market economy gives individuals the freedom to decide where to work doing what, how to spend or save money, and whether to consume now or later.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is a statement that summarizes all economic transactions between a country and the rest of the world during a given period of time?

Accepted Answer

A) trade deficit 
B) Gini coefficient 
C) balance of payments 
D) purchasing power parity 
A) trade deficit 
B) Gini coefficient 
C) balance of payments 
D) purchasing power parity

Question 10

What is the most likely reason that a universal scheme for assessing the performance and potential of a country's economic environment does NOT exist?

Accepted Answer

A) difficulties of identifying a definitive set of predictive economic indicators 
B) a lack of reliable economic data from most developed economies 
C) the isolation of most markets from each other 
D) static nature of the marketplace 
A) difficulties of identifying a definitive set of predictive economic indicators 
B) a lack of reliable economic data from most developed economies 
C) the isolation of most markets from each other 
D) static nature of the marketplace

Question 11

A car manufactured in the United States by Toyota would be included in the calculation of the GDP for the United States.

Accepted Answer

A) True 
 B)False

Question 12

The government considers itself a better judge of resource allocation than businesses or citizens in a market economy.

Accepted Answer

A) True 
 B)False

Question 13

Managers at Morrison Manufacturing are considering expanding the firm's production overseas and want to ensure that the firm is located in a country with a high degree of economic freedom.Presently, which of the following locations would most likely offer Morrison the highest economic freedom?

Accepted Answer

A) Bolivia 
B) Hong Kong 
C) Venezuela 
D) North Korea 
A) Bolivia 
B) Hong Kong 
C) Venezuela 
D) North Korea

Question 14

Kyle, an international manager for Apex Industries, has been given the task of analyzing the economies of three different emerging countries for the firm's potential expansion.Which of the following questions is LEAST relevant to Kyle's assignment?

Accepted Answer

A) How much freedom will Apex have to run its foreign operations? 
B) What are the current economic policies related to development? 
C) What is the likelihood that Apex can fill manufacturing positions with locals? 
D) What factors in the country drive or hinder economic change? 
A) How much freedom will Apex have to run its foreign operations? 
B) What are the current economic policies related to development? 
C) What is the likelihood that Apex can fill manufacturing positions with locals? 
D) What factors in the country drive or hinder economic change?

Question 15

In the United States, the unemployment rate indicates the ________.

Accepted Answer

A) percentage of the labor force that wants to work full-time but can only find part-time employment 
B) number of people who have stopped looking for work because full-time jobs are unavailable 
C) percentage of unemployed workers seeking paid work relative to the total labor force 
D) number of workers eligible for government services and unemployment benefits 
A) percentage of the labor force that wants to work full-time but can only find part-time employment 
B) number of people who have stopped looking for work because full-time jobs are unavailable 
C) percentage of unemployed workers seeking paid work relative to the total labor force 
D) number of workers eligible for government services and unemployment benefits

Question 16

The recent global financial crisis has led to which of the following?

Accepted Answer

A) governments seeking to impose more constraints on capitalism 
B) governments seeking to eliminate constraints on capitalism 
C) governments seeking to increase the interdependence of developing economies 
D) governments seeking to eliminate the interdependence of developing economies 
A) governments seeking to impose more constraints on capitalism 
B) governments seeking to eliminate constraints on capitalism 
C) governments seeking to increase the interdependence of developing economies 
D) governments seeking to eliminate the interdependence of developing economies

Question 17

A market economy is one in which resources are primarily owned and controlled by individuals and companies.

Accepted Answer

A) True 
 B)False

Question 18

The BRICs are the strongest developed economies in the world.

Accepted Answer

A) True 
 B)False

Question 19

In the aftermath of the recent global financial crisis, there has been a significant reduction in the level of government involvement in economic affairs.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following countries is the best example of a mixed economic model?

Accepted Answer

A) United States 
B) France 
C) United Kingdom 
D) Australia 
A) United States 
B) France 
C) United Kingdom 
D) Australia

The balance of trade is a record of a country's international transactions that take place among companies, governments, or individuals.

The ________ starts with the same accounting framework used to calculate GDP but then adjusts for values assigned to environmental quality, population health, livelihood security, equity, free time, and educational attainment.

The United Nations' ________ measures life expectancy, educational attainment, and the standard of living in a given country.

________ is a general, sustained rise in prices measured against a standard level of purchasing power.

What is the difference between a command economy and state capitalism?

In computing GNI, the value of a Ford car that is manufactured in Mexico using capital from the United States would ________.

A mixed economy is a system where economic decisions are largely market driven and ownership is largely private, but the government intervenes in many private economic decisions.

A market economy gives individuals the freedom to decide where to work doing what, how to spend or save money, and whether to consume now or later.

Which of the following is a statement that summarizes all economic transactions between a country and the rest of the world during a given period of time?

What is the most likely reason that a universal scheme for assessing the performance and potential of a country's economic environment does NOT exist?

A car manufactured in the United States by Toyota would be included in the calculation of the GDP for the United States.

The government considers itself a better judge of resource allocation than businesses or citizens in a market economy.

Managers at Morrison Manufacturing are considering expanding the firm's production overseas and want to ensure that the firm is located in a country with a high degree of economic freedom.Presently, which of the following locations would most likely offer Morrison the highest economic freedom?

Kyle, an international manager for Apex Industries, has been given the task of analyzing the economies of three different emerging countries for the firm's potential expansion.Which of the following questions is LEAST relevant to Kyle's assignment?

In the United States, the unemployment rate indicates the ________.

The recent global financial crisis has led to which of the following?

A market economy is one in which resources are primarily owned and controlled by individuals and companies.

The BRICs are the strongest developed economies in the world.

In the aftermath of the recent global financial crisis, there has been a significant reduction in the level of government involvement in economic affairs.

Which of the following countries is the best example of a mixed economic model?

Globalization and International Business

The Cultural Environments Facing Business

The Political and Legal Environments Facing Business

Globalization and Society

International Trade and Factor-Mobility Theory

Governmental Influence on Trade

Cross-National Cooperation and Agreements

Global Foreign-Exchange Markets

The Determination of Exchange Rates

Global Capital Markets

The Strategy of International Business

Country Evaluation and Selection

Export and Import

Direct Investment and Collaborative Strategies

The Organization of International Business

Marketing Globally

Global Manufacturing and Supply Chain Management

International Accounting and Finance Issues

International Human Resource Management

Filters

Exam 4: The Economic Environments Facing Businesses

The balance of trade is a record of a country's international transactions that take place among companies, governments, or individuals.

The ________ starts with the same accounting framework used to calculate GDP but then adjusts for values assigned to environmental quality, population health, livelihood security, equity, free time, and educational attainment.

The United Nations' ________ measures life expectancy, educational attainment, and the standard of living in a given country.

________ is a general, sustained rise in prices measured against a standard level of purchasing power.

What is the difference between a command economy and state capitalism?

In computing GNI, the value of a Ford car that is manufactured in Mexico using capital from the United States would ________.

A mixed economy is a system where economic decisions are largely market driven and ownership is largely private, but the government intervenes in many private economic decisions.

A market economy gives individuals the freedom to decide where to work doing what, how to spend or save money, and whether to consume now or later.

Which of the following is a statement that summarizes all economic transactions between a country and the rest of the world during a given period of time?

What is the most likely reason that a universal scheme for assessing the performance and potential of a country's economic environment does NOT exist?

A car manufactured in the United States by Toyota would be included in the calculation of the GDP for the United States.

The government considers itself a better judge of resource allocation than businesses or citizens in a market economy.

Managers at Morrison Manufacturing are considering expanding the firm's production overseas and want to ensure that the firm is located in a country with a high degree of economic freedom.Presently, which of the following locations would most likely offer Morrison the highest economic freedom?

Kyle, an international manager for Apex Industries, has been given the task of analyzing the economies of three different emerging countries for the firm's potential expansion.Which of the following questions is LEAST relevant to Kyle's assignment?

In the United States, the unemployment rate indicates the ________.

The recent global financial crisis has led to which of the following?

A market economy is one in which resources are primarily owned and controlled by individuals and companies.

The BRICs are the strongest developed economies in the world.

In the aftermath of the recent global financial crisis, there has been a significant reduction in the level of government involvement in economic affairs.

Which of the following countries is the best example of a mixed economic model?

Globalization and International Business

The Cultural Environments Facing Business

The Political and Legal Environments Facing Business

Globalization and Society

International Trade and Factor-Mobility Theory

Governmental Influence on Trade

Cross-National Cooperation and Agreements

Global Foreign-Exchange Markets

The Determination of Exchange Rates

Global Capital Markets

The Strategy of International Business

Country Evaluation and Selection

Export and Import

Direct Investment and Collaborative Strategies

The Organization of International Business

Marketing Globally

Global Manufacturing and Supply Chain Management

International Accounting and Finance Issues

International Human Resource Management

Filters