Question 1

When analyzing the key elements of a country's economic environment,it is best to apply a systems perspective.

Accepted Answer

A) True 
 B)False

Question 2

Pender Pharmaceuticals is considering expanding overseas and is focusing primarily on the BRICs.Which of the following countries is one that Pender is considering?

Accepted Answer

A)  Indonesia 
B)  Chile 
C)  Russia 
D)  Bangladesh 
A)  Indonesia 
B)  Chile 
C)  Russia 
D)  Bangladesh

Question 3

The so-called "misery index" is the sum of a country's ________.

Accepted Answer

A)  foreign and national debt 
B)  inflation and unemployment rates 
C)  unemployment level and total debt 
D)  trade deficit and long-term inflation rate 
A)  foreign and national debt 
B)  inflation and unemployment rates 
C)  unemployment level and total debt 
D)  trade deficit and long-term inflation rate

Question 4

In the Economic Freedom Index,________ exhibit high economic freedom whereas ________ exhibit little to no economic freedom.

Accepted Answer

A)  mixed economies; market economies 
B)  command economies; market economies 
C)  market economies; command economies 
D)  centrally planned economies; command economies 
A)  mixed economies; market economies 
B)  command economies; market economies 
C)  market economies; command economies 
D)  centrally planned economies; command economies

Question 5

The Economic Freedom Index indicates that economic freedom is positively correlated with all of the following EXCEPT ________.

Accepted Answer

A)  life expectancy 
B)  literacy 
C)  environmental sustainability 
D)  diversity 
A)  life expectancy 
B)  literacy 
C)  environmental sustainability 
D)  diversity

Question 6

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 7

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

Question 8

Market economies are primarily characterized by ________.

Accepted Answer

A)  formal cooperation among government, companies, and workers to achieve stable growth 
B)  heavy government spending and high taxation to pay for a range of social services 
C)  minimal governmental participation 
D)  restricted consumer powers 
A)  formal cooperation among government, companies, and workers to achieve stable growth 
B)  heavy government spending and high taxation to pay for a range of social services 
C)  minimal governmental participation 
D)  restricted consumer powers

Question 9

Which of the following calls for economic activity that meets present needs without hindering the future needs of society?

Accepted Answer

A)  privatization 
B)  state capitalism 
C)  economic freedom 
D)  sustainable development 
A)  privatization 
B)  state capitalism 
C)  economic freedom 
D)  sustainable development

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

An economic system is the set of structures and processes that guides the allocation of resources and shapes the conduct of business activities within a country.

Accepted Answer

A) True 
 B)False

Question 12

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 13

An economic system is the set of structures and processes that ________ in a country.

Accepted Answer

A)  guides the allocation of resources and shapes the conduct of business activities 
B)  directs the movement of specific products to specific consumers 
C)  sets the standards of competitive success for companies in the economy 
D)  stipulates the roles and responsibilities of consumers 
A)  guides the allocation of resources and shapes the conduct of business activities 
B)  directs the movement of specific products to specific consumers 
C)  sets the standards of competitive success for companies in the economy 
D)  stipulates the roles and responsibilities of consumers

Question 14

Which of the following is most likely a FALSE statement about income inequality?

Accepted Answer

A)  The richest 1% of the world's population claims as much income as the bottom 57%. 
B)  GNI is the most effective tool for estimating the relative wealth of a nation's citizens. 
C)  Among industrialized nations, the U.S. has the largest inequality gap between rich and poor. 
D)  Income inequality between metropolitan and rural areas threatens a country's social stability. 
A)  The richest 1% of the world's population claims as much income as the bottom 57%. 
B)  GNI is the most effective tool for estimating the relative wealth of a nation's citizens. 
C)  Among industrialized nations, the U.S. has the largest inequality gap between rich and poor. 
D)  Income inequality between metropolitan and rural areas threatens a country's social stability.

Question 15

What is gross national income? How is it calculated? Illustrate your answer with a specific example.

Accepted Answer

Gross National Income is the broadest me

Question 16

During a time of reflation,the government is most likely to ________.

Accepted Answer

A)  lower taxes 
B)  print money 
C)  reduce interest rates 
D)  support infrastructure 
A)  lower taxes 
B)  print money 
C)  reduce interest rates 
D)  support infrastructure

Question 17

The recent global economic 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 18

Why is economic freedom an important factor to consider when analyzing a country's economic development,performance,and potential?

Accepted Answer

Economic freedom helps explain a country

Question 19

Gross domestic product is the value of production that takes place within a nation's border,without regard to whether the production is done by domestic or foreign factors of production.

Accepted Answer

A) True 
 B)False

Question 20

There is a positive correlation between economic freedom and economic growth.

Accepted Answer

A) True 
 B)False

When analyzing the key elements of a country's economic environment,it is best to apply a systems perspective.

Pender Pharmaceuticals is considering expanding overseas and is focusing primarily on the BRICs.Which of the following countries is one that Pender is considering?

The so-called "misery index" is the sum of a country's ________.

In the Economic Freedom Index, exhibit high economic freedom whereas exhibit little to no economic freedom.

The Economic Freedom Index indicates that economic freedom is positively correlated with all of the following EXCEPT ________.

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

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

Market economies are primarily characterized by ________.

Which of the following calls for economic activity that meets present needs without hindering the future needs of society?

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?

An economic system is the set of structures and processes that guides the allocation of resources and shapes the conduct of business activities within a country.

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?

An economic system is the set of structures and processes that ________ in a country.

Which of the following is most likely a FALSE statement about income inequality?

What is gross national income? How is it calculated? Illustrate your answer with a specific example.

During a time of reflation,the government is most likely to ________.

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

Why is economic freedom an important factor to consider when analyzing a country's economic development,performance,and potential?

Gross domestic product is the value of production that takes place within a nation's border,without regard to whether the production is done by domestic or foreign factors of production.

There is a positive correlation between economic freedom and economic growth.

Globalization and International Business

The Cultural Environments Facing Business

The Political and Legal Environments Facing Business

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

Globalization and Society

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

When analyzing the key elements of a country's economic environment,it is best to apply a systems perspective.

Pender Pharmaceuticals is considering expanding overseas and is focusing primarily on the BRICs.Which of the following countries is one that Pender is considering?

The so-called "misery index" is the sum of a country's ________.

In the Economic Freedom Index,________ exhibit high economic freedom whereas ________ exhibit little to no economic freedom.

The Economic Freedom Index indicates that economic freedom is positively correlated with all of the following EXCEPT ________.

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

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

Market economies are primarily characterized by ________.

Which of the following calls for economic activity that meets present needs without hindering the future needs of society?

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?

An economic system is the set of structures and processes that guides the allocation of resources and shapes the conduct of business activities within a country.

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?

An economic system is the set of structures and processes that ________ in a country.

Which of the following is most likely a FALSE statement about income inequality?

What is gross national income? How is it calculated? Illustrate your answer with a specific example.

During a time of reflation,the government is most likely to ________.

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

Why is economic freedom an important factor to consider when analyzing a country's economic development,performance,and potential?

Gross domestic product is the value of production that takes place within a nation's border,without regard to whether the production is done by domestic or foreign factors of production.

There is a positive correlation between economic freedom and economic growth.

Globalization and International Business

The Cultural Environments Facing Business

The Political and Legal Environments Facing Business

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

Globalization and Society

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

In the Economic Freedom Index, exhibit high economic freedom whereas exhibit little to no economic freedom.