Question 1

Which of the following is true of foreign intermediaries?

Accepted Answer

A)  They are agents who manufacture products for companies that want to do business abroad. 
B)  They reduce a company's expense of setting up facilities in a foreign country. 
C)  They work for a single foreign company at a time. 
D)  They devote as much time to a single company's products as the company's own sales force would. 
E)  They are unfamiliar with local conditions of the place where the company wants to do business. 
A)  They are agents who manufacture products for companies that want to do business abroad. 
B)  They reduce a company's expense of setting up facilities in a foreign country. 
C)  They work for a single foreign company at a time. 
D)  They devote as much time to a single company's products as the company's own sales force would. 
E)  They are unfamiliar with local conditions of the place where the company wants to do business.

Question 2

A tariff is a tax imposed on exports.

Accepted Answer

A) True 
 B)False

Question 3

Change can occur more rapidly in cultures that have a short-term orientation.

Accepted Answer

A) True 
 B)False

Question 4

Under the terms of _____,businesses in the United States,Mexico,and Canada can sell their products anywhere in North America without facing major trade restrictions.

Accepted Answer

A)  CAFTA-DR 
B)  TAFTA 
C)  NAFTA 
D)  GATT 
E)  CEFTA 
A)  CAFTA-DR 
B)  TAFTA 
C)  NAFTA 
D)  GATT 
E)  CEFTA

Question 5

Which of the following is true of trade surplus?

Accepted Answer

A)  It is a negative balance. 
B)  It involves exporting more than importing. 
C)  It is also known as trade gap. 
D)  It is an unfavorable condition for a country. 
E)  It involves making payments to other countries that it imports from. 
A)  It is a negative balance. 
B)  It involves exporting more than importing. 
C)  It is also known as trade gap. 
D)  It is an unfavorable condition for a country. 
E)  It involves making payments to other countries that it imports from.

Question 6

Embargoes are restrictions on the quantity of a good that can enter a country.

Accepted Answer

A) True 
 B)False

Question 7

In individualism,ties between individuals are strong.

Accepted Answer

A) True 
 B)False

Question 8

The law of comparative advantage states that _____.

Accepted Answer

A)  individuals, companies, and countries should be self-sufficient by domestically producing all the goods they require 
B)  producers should produce the goods they are least efficient at producing to allow scope for improvement 
C)  when introducing products to international markets, firms must decide whether the product should be modified to meet the needs of the local culture 
D)  producers should produce the goods they are most efficient at producing and purchase from others the goods they are less efficient at producing 
E)  to protect their own domestic industries, countries impose tariffs through taxes or fees on imported goods 
A)  individuals, companies, and countries should be self-sufficient by domestically producing all the goods they require 
B)  producers should produce the goods they are least efficient at producing to allow scope for improvement 
C)  when introducing products to international markets, firms must decide whether the product should be modified to meet the needs of the local culture 
D)  producers should produce the goods they are most efficient at producing and purchase from others the goods they are less efficient at producing 
E)  to protect their own domestic industries, countries impose tariffs through taxes or fees on imported goods

Question 9

Outline the different ways in which companies sell their products or services in foreign countries.

Accepted Answer

Companies can sell their products or ser

Question 10

Exchange rates can be quoted in dollars per unit of foreign currency or units of foreign currency per dollar.

Accepted Answer

A) True 
 B)False

Question 11

Differentiate individualism from collectivism.

Accepted Answer

Individualism emphasizes the pursuit of

Question 12

How should companies identify and evaluate possible export markets?

Accepted Answer

To determine if there is sufficient dema

Question 13

The spread of capitalism has facilitated the growth of global economy.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following had a negative impact with the enforcement of NAFTA?

Accepted Answer

A)  Businesses in the United States 
B)  Consumers in the U.S., Mexico, and Canada 
C)  Businesses in Mexico and Canada 
D)  Producers within North America 
E)  Workers in the U.S. 
A)  Businesses in the United States 
B)  Consumers in the U.S., Mexico, and Canada 
C)  Businesses in Mexico and Canada 
D)  Producers within North America 
E)  Workers in the U.S.

Question 15

Which of the following is true about absolute advantage?

Accepted Answer

A)  It is the ability to produce more of a good than another producer with the same quantity of inputs. 
B)  All countries will produce the same amount of goods with the same quantity of inputs. 
C)  Individuals, companies, and countries should specialize in what they do best. 
D)  A product that might be in the mature stage in one country might be in the introductory stage in another market. 
E)  A business can realize higher profits by setting up operations in countries where the costs of labor and resources are lower than the costs in the domestic market. 
A)  It is the ability to produce more of a good than another producer with the same quantity of inputs. 
B)  All countries will produce the same amount of goods with the same quantity of inputs. 
C)  Individuals, companies, and countries should specialize in what they do best. 
D)  A product that might be in the mature stage in one country might be in the introductory stage in another market. 
E)  A business can realize higher profits by setting up operations in countries where the costs of labor and resources are lower than the costs in the domestic market.

Question 16

The rise of democracy in the world has hampered the growth of the global economy.

Accepted Answer

A) True 
 B)False

Question 17

Imposing quotas on a particular import is favorable to the _____.

Accepted Answer

A)  consumers of that product in the domestic country 
B)  foreign companies that export the product 
C)  domestic companies that manufacture the same product 
D)  domestic companies that consume the product 
E)  government of the countries that export the product 
A)  consumers of that product in the domestic country 
B)  foreign companies that export the product 
C)  domestic companies that manufacture the same product 
D)  domestic companies that consume the product 
E)  government of the countries that export the product

Question 18

The purpose of the EU is to _____.

Accepted Answer

A)  increase tariffs on goods sold among member countries 
B)  promote the fiscal, technical, and border barriers between member countries 
C)  increase the costs of goods and services in Europe 
D)  reduce the international competitiveness of European companies 
E)  establish Europe as a single market with exciting potential for multinational corporations 
A)  increase tariffs on goods sold among member countries 
B)  promote the fiscal, technical, and border barriers between member countries 
C)  increase the costs of goods and services in Europe 
D)  reduce the international competitiveness of European companies 
E)  establish Europe as a single market with exciting potential for multinational corporations

Question 19

In cultures that have high degree of power distance,the degree of equality is low.

Accepted Answer

A) True 
 B)False

Question 20

List out the reasons for companies to expand into international markets.

Accepted Answer

A company can increase its profitability

Which of the following is true of foreign intermediaries?

A tariff is a tax imposed on exports.

Change can occur more rapidly in cultures that have a short-term orientation.

Under the terms of _____,businesses in the United States,Mexico,and Canada can sell their products anywhere in North America without facing major trade restrictions.

Which of the following is true of trade surplus?

Embargoes are restrictions on the quantity of a good that can enter a country.

In individualism,ties between individuals are strong.

The law of comparative advantage states that _____.

Outline the different ways in which companies sell their products or services in foreign countries.

Exchange rates can be quoted in dollars per unit of foreign currency or units of foreign currency per dollar.

Differentiate individualism from collectivism.

How should companies identify and evaluate possible export markets?

The spread of capitalism has facilitated the growth of global economy.

Which of the following had a negative impact with the enforcement of NAFTA?

Which of the following is true about absolute advantage?

The rise of democracy in the world has hampered the growth of the global economy.

Imposing quotas on a particular import is favorable to the _____.

The purpose of the EU is to _____.

In cultures that have high degree of power distance,the degree of equality is low.

List out the reasons for companies to expand into international markets.

Management in a Diverse Workplace

The Management Movement

Developing Communication Skills

Decision-Making Skills

Ethical, social, and Legal Responsibilities of Management

The Basics of Planning and Strategic Management

Organizing Work

Organizational Structure

Understanding Work Groups and Teams

Staffing

Employee Training and Development

Motivating Employees

Developing Leadership Skills

Managing Conflict and Stress

Managing Change and Culture

Management Control

Appraising and Rewarding Performance

Operations Management and Planning

Operations Control

Filters

Exam 6: International Business

Which of the following is true of foreign intermediaries?

A tariff is a tax imposed on exports.

Change can occur more rapidly in cultures that have a short-term orientation.

Under the terms of _____,businesses in the United States,Mexico,and Canada can sell their products anywhere in North America without facing major trade restrictions.

Which of the following is true of trade surplus?

Embargoes are restrictions on the quantity of a good that can enter a country.

In individualism,ties between individuals are strong.

The law of comparative advantage states that _____.

Outline the different ways in which companies sell their products or services in foreign countries.

Exchange rates can be quoted in dollars per unit of foreign currency or units of foreign currency per dollar.

Differentiate individualism from collectivism.

How should companies identify and evaluate possible export markets?

The spread of capitalism has facilitated the growth of global economy.

Which of the following had a negative impact with the enforcement of NAFTA?

Which of the following is true about absolute advantage?

The rise of democracy in the world has hampered the growth of the global economy.

Imposing quotas on a particular import is favorable to the _____.

The purpose of the EU is to _____.

In cultures that have high degree of power distance,the degree of equality is low.

List out the reasons for companies to expand into international markets.

Management in a Diverse Workplace

The Management Movement

Developing Communication Skills

Decision-Making Skills

Ethical, social, and Legal Responsibilities of Management

The Basics of Planning and Strategic Management

Organizing Work

Organizational Structure

Understanding Work Groups and Teams

Staffing

Employee Training and Development

Motivating Employees

Developing Leadership Skills

Managing Conflict and Stress

Managing Change and Culture

Management Control

Appraising and Rewarding Performance

Operations Management and Planning

Operations Control

Filters