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There are three types of economic integration, namely: global, regional, and local
There are three types of economic integration, namely: global, regional, and local.
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True |
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False |
Question 2
Purchasing power parity is the price of one currency in terms of another.
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True |
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False |
Question 3
When the United States sells products to China, US exporters often demand that they be paid in the Chinese yuan.
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True |
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False |
Question 4
Three EU members—Britain, Denmark and Sweden—do not use the euro as their currency.
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True |
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False |
Question 5
NAFTA is an example of a common market.
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True |
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False |
Question 6
Which of the following is NOT an advantage of a strong US dollar?
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US consumers benefit from low prices on imports. |
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US tourists benefit from lower prices when traveling abroad. |
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Lower prices on foreign goods help keep US prices level and inflation low. |
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US firms in import-competing industries face more low-cost imports. |
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Question 7
Which does “ASEAN” stand for?
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Assembly of Southeast Asian Nations |
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Assembly of South American Nations |
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Association of Southeast Asian Nations |
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Association of South American Nations |
Question 8
In the trade relationship with China, why is the US dollar in more demand than the Chinese yuan?
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More people demand the yuan domestically in China, so it is not used for imports and exports. |
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The dollar is the common transaction currency between the two countries. |
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The yuan is pegged to the US dollar. |
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Formal institutions and regulations demand the trade be conducted in the dollar. |
Question 9
Why was the US dollar chosen as the currency to which other currencies would be pegged?
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The US had high levels of productivity. |
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The US was experiencing a large trade surplus. |
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The US contributed approximately 70% of the global GDP. |
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All of these answers |
Question 10
Non-MNE firms can also do business abroad by:
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Licensing and franchising |
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Outsourcing and engaging in FDI |
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Exporting and importing |
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All of these answers |
Question 11
The motto of international business is location, location, location.
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True |
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False |
Question 12
Owners, managers, and employees at entrepreneurial firms tend to be more innovative and take more risks than those at large firms.
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True |
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False |
Question 13
Late movers face greater technological and market uncertainties.
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True |
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False |
Question 14
Sometimes foreign firms are discriminated against:
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Formally |
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Informally |
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Randomly |
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Both formally and informally |
Question 15
First-mover advantages include:
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Opportunity to free ride on first-mover investments |
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Resolution of technological and market uncertainties |
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Difficulty to adapt to market changes |
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Avoidance of a clash with dominant firms at home |
Question 16
Which item is not a late-mover advantage?
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Avoidance of a clash with a dominant firm at home |
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Opportunity to free ride on first mover investments |
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Resolution of technological and market uncertainty |
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First mover’s difficulty to adapt to market changes |
Question 17
Licensing/franchising agreements refer to:
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Outsourcing agreements in R&D firms |
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A new corporate entity given birth to and jointly owned by two or more companies |
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Efforts among a number of firms to jointly market their products and services |
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The licensor/franchiser selling the rights to intellectual property |
Question 18
____ perform an important "middleman" function by linking sellers and buyers overseas.
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Export intermediaries |
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Indirect exporters |
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Sporadic exporters |
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Alliance partners |
Question 19
Foreign firms crack new markets by:
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Undertaking actions deemed legitimate and appropriate by governing institutions |
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Bribing government officials |
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Hiring locals to manage the new entity |
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Outsourcing production |
Question 20
In a(n) ____, members coordinate and harmonize monetary, fiscal, and taxation policies.
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Monetary union |
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Political union |
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Economic union |
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Custom union |
Question 21
Non-native employees who work and reside in a foreign country are known as:
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Host-country nationals |
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Expatriates |
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Multinationals |
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Repatriates |
Question 22
___ is leading the world in managerial compensation.
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United States |
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Britain |
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Japan |
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Germany |
Question 23
In home replication strategy, knowledge flow is multidirectional, while in transnational strategy, it is one-way.
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True |
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False |
Question 24
The phrase “think global, act local” is a winning formula when it comes to leveraging multinational presence.
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True |
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False |
Question 25
Which of the following is NOT one of the four strategic choices for MNEs?
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Unionization |
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Global standardization |
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Home replication |
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