Question 1

The long-term goal of the LAIA (Latin American Integration Association), better known by its Spanish acronym, ALADI, is:

Accepted Answer

A)  to improve the literacy levels in member countries. 
B)  to reduce the child mortality rates in member countries. 
C)  to establish a Latin American common market. 
D)  to establish a common currency for all its member countries. 
E)  to standardize the industrial production in the member countries. 
A)  to improve the literacy levels in member countries. 
B)  to reduce the child mortality rates in member countries. 
C)  to establish a Latin American common market. 
D)  to establish a common currency for all its member countries. 
E)  to standardize the industrial production in the member countries.

Question 2

Most newly industrialized countries (NICs) have moved away from restrictive trade practices and instituted significant free market reforms. As a result these countries have:

Accepted Answer

A)  attracted both trade and foreign direct investment. 
B)  overcome environmental damages caused by lack of development. 
C)  reduced population pressures through labor outsourcing. 
D)  obtained significant amount of loans from World Bank. 
E)  taken measures to protect their cultures and traditions. 
A)  attracted both trade and foreign direct investment. 
B)  overcome environmental damages caused by lack of development. 
C)  reduced population pressures through labor outsourcing. 
D)  obtained significant amount of loans from World Bank. 
E)  taken measures to protect their cultures and traditions.

Question 3

Which of the following is the second-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

Question 4

The transitional sector differs from the modern urban sector in that the transitional sector:

Accepted Answer

A)  is an exclusively agriculture-oriented sector. 
B)  consists of population that works in the country side. 
C)  consists of an expanding Westernized middle class. 
D)  represents the high-income urban slums. 
E)  consists of population that moves from the country to the large cities. 
A)  is an exclusively agriculture-oriented sector. 
B)  consists of population that works in the country side. 
C)  consists of an expanding Westernized middle class. 
D)  represents the high-income urban slums. 
E)  consists of population that moves from the country to the large cities.

Question 5

During the early growth of many countries, the first large open market was _____.

Accepted Answer

A)  China 
B)  China. 
C)  Australia 
D)  Germany 
E)  India 
A)  China 
B)  China. 
C)  Australia 
D)  Germany 
E)  India

Question 6

Which of the following is true of the CFTA?

Accepted Answer

A)  It was designed to eliminate trade barriers between the United States, Canada, and parts of Asia. 
B)  It created several, independent commercial markets for goods and services. 
C)  It was a customs union like the European Community. 
D)  It involved economic and political unions. 
E)  It provided only for the elimination of tariffs and other trade barriers between the United States and Canada. 
A)  It was designed to eliminate trade barriers between the United States, Canada, and parts of Asia. 
B)  It created several, independent commercial markets for goods and services. 
C)  It was a customs union like the European Community. 
D)  It involved economic and political unions. 
E)  It provided only for the elimination of tariffs and other trade barriers between the United States and Canada.

Question 7

Which of the following is a fully industrialized country?

Accepted Answer

A)  Brazil 
B)  Russia 
C)  Germany 
D)  Argentina 
E)  China 
A)  Brazil 
B)  Russia 
C)  Germany 
D)  Argentina 
E)  China

Question 8

In static economies, consumption patterns change rapidly.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following statements is true regarding the Internet?

Accepted Answer

A)  The Internet increases the economically optimal size for firms. 
B)  The Internet increases the transaction costs. 
C)  The Internet allows for innovative services but at a relatively higher cost. 
D)  The Internet enables smaller firms in emerging economies to sell into a global market. 
E)  The Internet increases the economies of scale from vertical integration. 
A)  The Internet increases the economically optimal size for firms. 
B)  The Internet increases the transaction costs. 
C)  The Internet allows for innovative services but at a relatively higher cost. 
D)  The Internet enables smaller firms in emerging economies to sell into a global market. 
E)  The Internet increases the economies of scale from vertical integration.

Question 10

The UN classification has been criticized because it no longer seems relevant in the rapidly industrializing world.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is NOT one of the factors changing the way countries trade and prosper in the twenty-first century?

Accepted Answer

A)  The transition from socialist to market-driven economies. 
B)  Liberalization of trade and investment policies in developing countries. 
C)  The transfer of public-sector enterprises to the private sector. 
D)  The rapid development of regional market alliances. 
E)  The expansion of military interventions around the world. 
A)  The transition from socialist to market-driven economies. 
B)  Liberalization of trade and investment policies in developing countries. 
C)  The transfer of public-sector enterprises to the private sector. 
D)  The rapid development of regional market alliances. 
E)  The expansion of military interventions around the world.

Question 12

The liberalization of trade and investment policies in developing countries is changing the way countries will trade and prosper in the 21st century.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A)  no longer seems relevant in the rapidly industrializing world. 
B)  does not take into consideration the level of political stability in a country. 
C)  does not take into consideration the per capita income level of a country. 
D)  only focuses on the literacy level in a country. 
E)  does not take into consideration the level of industrialization of a country. 
A)  no longer seems relevant in the rapidly industrializing world. 
B)  does not take into consideration the level of political stability in a country. 
C)  does not take into consideration the per capita income level of a country. 
D)  only focuses on the literacy level in a country. 
E)  does not take into consideration the level of industrialization of a country.

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Which of the following countries is a part of the free trade area known as CFTA?

Accepted Answer

A)  France 
B)  Uruguay 
C)  The United States 
D)  Argentina 
E)  Brazil 
A)  France 
B)  Uruguay 
C)  The United States 
D)  Argentina 
E)  Brazil

Question 16

The level of political stability in a country is the single most important environmental element to which the foreign marketer must adjust the marketing task.

Accepted Answer

A) True 
 B)False

Question 17

Markets that are geographically large, have strong growth rates, are regional economic drivers and represent sizable markets for a wide range of products are known as _____.

Accepted Answer

A)  captive markets 
B)  big emerging markets 
C)  niche markets 
D)  contestable markets 
E)  two-sided markets 
A)  captive markets 
B)  big emerging markets 
C)  niche markets 
D)  contestable markets 
E)  two-sided markets

Question 18

All of the following are traits of big emerging markets (BEMs) EXCEPT:

Accepted Answer

A)  they import less than smaller markets. 
B)  they are all physically large. 
C)  they have significant populations. 
D)  they are regional economic drivers. 
E)  they are of major political importance within their regions. 
A)  they import less than smaller markets. 
B)  they are all physically large. 
C)  they have significant populations. 
D)  they are regional economic drivers. 
E)  they are of major political importance within their regions.

Question 19

Privatization of industries released immediate capital to invest in strategic areas.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is true about privatization of state-owned enterprises?

Accepted Answer

A)  It results in a drain on national budgets. 
B)  It blocks investment of capital in strategic areas. 
C)  It often leads to modernization. 
D)  It results in a draining of the future national resources. 
E)  It increases the number of state-owned enterprises. 
A)  It results in a drain on national budgets. 
B)  It blocks investment of capital in strategic areas. 
C)  It often leads to modernization. 
D)  It results in a draining of the future national resources. 
E)  It increases the number of state-owned enterprises.

The long-term goal of the LAIA (Latin American Integration Association), better known by its Spanish acronym, ALADI, is:

Most newly industrialized countries (NICs) have moved away from restrictive trade practices and instituted significant free market reforms. As a result these countries have:

Which of the following is the second-largest common-market agreement in the Americas?

The transitional sector differs from the modern urban sector in that the transitional sector:

During the early growth of many countries, the first large open market was _____.

Which of the following is true of the CFTA?

Which of the following is a fully industrialized country?

In static economies, consumption patterns change rapidly.

Which of the following statements is true regarding the Internet?

The UN classification has been criticized because it no longer seems relevant in the rapidly industrializing world.

Which of the following is NOT one of the factors changing the way countries trade and prosper in the twenty-first century?

The liberalization of trade and investment policies in developing countries is changing the way countries will trade and prosper in the 21^st century.

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

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

Which of the following countries is a part of the free trade area known as CFTA?

The level of political stability in a country is the single most important environmental element to which the foreign marketer must adjust the marketing task.

Markets that are geographically large, have strong growth rates, are regional economic drivers and represent sizable markets for a wide range of products are known as _____.

All of the following are traits of big emerging markets (BEMs) EXCEPT:

Privatization of industries released immediate capital to invest in strategic areas.

Which of the following is true about privatization of state-owned enterprises?

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

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

Negotiating With International Customers, Partners, and Regulators

Filters

Exam 9: Economic Development and the Americas

The long-term goal of the LAIA (Latin American Integration Association), better known by its Spanish acronym, ALADI, is:

Most newly industrialized countries (NICs) have moved away from restrictive trade practices and instituted significant free market reforms. As a result these countries have:

Which of the following is the second-largest common-market agreement in the Americas?

The transitional sector differs from the modern urban sector in that the transitional sector:

During the early growth of many countries, the first large open market was _____.

Which of the following is true of the CFTA?

Which of the following is a fully industrialized country?

In static economies, consumption patterns change rapidly.

Which of the following statements is true regarding the Internet?

The UN classification has been criticized because it no longer seems relevant in the rapidly industrializing world.

Which of the following is NOT one of the factors changing the way countries trade and prosper in the twenty-first century?

The liberalization of trade and investment policies in developing countries is changing the way countries will trade and prosper in the 21st century.

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

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

Which of the following countries is a part of the free trade area known as CFTA?

The level of political stability in a country is the single most important environmental element to which the foreign marketer must adjust the marketing task.

Markets that are geographically large, have strong growth rates, are regional economic drivers and represent sizable markets for a wide range of products are known as _____.

All of the following are traits of big emerging markets (BEMs) EXCEPT:

Privatization of industries released immediate capital to invest in strategic areas.

Which of the following is true about privatization of state-owned enterprises?

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

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

Negotiating With International Customers, Partners, and Regulators

Filters

The liberalization of trade and investment policies in developing countries is changing the way countries will trade and prosper in the 21^st century.