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Franklin University MBA 711 Chapter 4 1)Products produced in the United States and then shipped for sale to other countries are referred to as                            

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Franklin University

MBA 711

Chapter 4

1)Products produced in the United States and then shipped for sale to other countries are referred to as                             .

A.            outsourcing

B.            imports

C.            exports

D.            deficits

E.            subsidies

 

2.            According to data from the World Bank, Pakistan's 2014 per capita income was $1,335 (in

U.S. dollars). Pakistan would be categorized as a(n)         country according to World Bank standards.

A.            upper-middle-income

B.            low-income

C.            lower-middle-income

D.            high-income

E.            Developing

 

3.            Which of the following is a legal agreement between countries agreeing to cooperate with one another?

A.            A balance of trade

B.            A treaty

C.            A subsidy

D.            A strategic alliance

E.            A licensing arrangement

 

4.            Which organization is empowered to promote trade by encouraging its members to adopt fair-trade practices, reduce trade barriers by promoting multilateral negations, and establish fair procedures for resolving disputes among members?

A.            North American Trade Agreement (NAFTA)

B.            The Association of Southeast Asian Nations

C.            The World Trade Organization (WTO)

D.            The European Union (EU)

E.            The General Agreement on Tariffs and Trade (GATT)

 

5.            Corn and wheat that is grown in the United States and shipped to Asia is considered which of the following for the United States?

A.            An exchange rate

B.            An import

C.            An export

D.            A foreign direct investment

E.            A subsidy

 

6.            What is the definition of globalization?

A.            Multinational partnerships

B.            Exports being sold to overseas markets

C.            A trend toward countries becoming interdependent

D.            The ability to sell to overseas markets through tools such as eBay and Amazon

E.            Imports being sold domestically

 

7.            Which of the following BEST describes a negative balance of trade?

A.            The amount of money flowing out of the country exceeds the amount of money flowing into the country.

B.            The value of a country's exports exceeds the value of its imports. C. The value of a country's imports exceeds the value of its exports.

D. The amount of money flowing into the country exceeds the amount of money flowing out of the country.

E. The value of a country's currency has depreciated over time against the currencies of other countries.

 

8.            Which of the following determines the value of a country's exchange rate under a floating exchange rate system?

A.            The World Bank

B.            The monetary authorities of the nation

C.            World Trade Organization D. Supply and demand

E. The International Monetary Fund

 

9.            If the United States imports more products than it exports, it has which of the following? A. Trade deficit

B.            Absolute advantage

C.            Trade surplus

D.            Balance of payments

E.            Comparative advantage

 

10.          South Korea can manufacture electronics more efficiently and less expensively than other countries, giving that country which of the following?

A.            Absolute advantage

B.            A trade surplus

C.            Comparative advantage

D.            Power orientation

E.            Balance of trade

 

11.          Which of the following describes the total economic value of all the products that a country exports, minus the economic value of all the products that it imports?

A.            Balance of trade

B.            Absolute advantage

C.            Trade surplus

D.            Comparative advantage

E.            Trade deficit

 

12.          The theory of national competitive advantage is an accepted model for why nations engage in international trade. Which of the following is NOT one of the four conditions for a national competitive advantage?

A.            Strategies, structures and rivalry conditions

B.            Related and supporting industries

C.            Demand conditions D. Exchange rates

E. Factor conditions

 

 

 

 

 

 

13.          Which form of international expansion involves the development of a mutually beneficial partnership with a company in a foreign country?

 

A.            Branch offices

B.            Licensing

C.            Strategic alliance

D.            Independent agents

E.            Foreign direct investment

 

14.          A company headquartered in Saudi Arabia builds a manufacturing facility in the United States. What international organizational structure does this represent?

A.            Foreign direct investment

B.            Licensing arrangement

C.            Strategic alliance

D.            Branch office

E.            Exporting

 

15.          When McDonald's opened its first restaurants in India, management decided to feature chicken and vegetable sandwiches rather than hamburgers. This menu selection is based on which factor affecting the decision to gointernational?

A.            Adapting to customer needs

B.            Power orientation

C.            Outsourcing and offshoring

D.            Gauging international demand

E.            Social orientation

 

16.          Super Semiconductors, Inc. has decided to build plants in China. Which level of international involvement is Super Semiconductors undertaking?

A.            Importer

B.            Strategic alliance

C.            Foreign direct investment

D.            Exporting

E.            Licensing arrangement

 

17.          A company finds a partner in the country in which it wants to do business to join it in investing resources and capital. This is known as which of the following?

A.            A licensing arrangement

B.            An independent agent

C.            Offshoring

D.            A strategic alliance

E.            An embargo

 

18.          Ed wants to expand his business with outlets in foreign markets, but he does not want to oversee them personally. Which of the following would be a good option for Ed?

A.            Create a strategic alliance

B.            Create a foreign investment

C.            Create an independent agent D. Create a licensing arrangement

E. Create a branch office

 

 

 

 

 

 

 

19.          The members of a society or culture with uncertainty avoidance would be likely to          .

A.            adopt a long-term versus a short-term outlook on life and work

 

B.            prefer structure and predictability over ambiguity and change

C.            believe that the needs of the group should come before the needs of the individual

D.            be stimulated by change and thrive on new experiences

E.            accept power and authority on the basis of a person's position in an organization

 

20.          Which of Hofstede's cultural dimensions addresses whether members of a culture adopt a long-term versus a short-term outlook on life, work, and other elements of society?

A.            Time orientation

B.            Uncertainty orientation

C.            Power orientation

D.            Social orientation

E.            Goal orientation

 

21.          Many U.S. citizens are stimulated by change and thrive on new opportunities. These citizens probably have a high acceptance for which dimension of cultural differences?

A.            Power orientation

B.            Uncertainty orientation

C.            Time orientation

D.            Social orientation

E.            Goal orientation

 

22.          The belief that the group is more important than any one individual is known as which of the following?

A.            Power orientation

B.            Uncertainty orientation

C.            Individualism

D.            Social orientation

E.            Collectivism

 

23.          Which of the following elements is NOT part of a country's culture?

A.            Language

B.            Symbols

C.            Economic status

D.            Values

E.            Beliefs

 

24.          Which of the following statements is true of people who have power respect?

A.            They are stimulated by change and thrive on new opportunities.

B.            They believe the group is more important than any one individual.

C.            They accept that their superiors have the right to hold power based solely on their position in the hierarchy.

D.            They believe that the individual comes first.

E.            They dislike ambiguity.

 

 

 

 

 

 

 

 

 

25.          n an effort to protect its rice industry, Japan places limits on the amount of rice that can be imported. This is an example of a(n)          .

A.            quota

 

B.            tariff

C.            embargo

D.            local content law

E.            subsidy

 

26.          A certain portion of manufactured goods used in federally-funded transportation projects in the United States must be produced domestically. This is an example of a(n)             .

A.            embargo

B.            business practice law

C.            quota

D.            tariff

E.            local content law

 

27.          Which of the following describes a tax on imported products?

A.            A subsidy

B.            A quota

C.            A cartel

D.            An embargo

E.            A tariff

 

28.          If the government decides NOT to allow any U.S. business to export products to Iraq, it has imposed which of the following?

A.            An embargo

B.            A subsidy

C.            A cartel

D.            A tariff

E.            A quota

 

29.          Several foreign oil companies joined together to control the pricing on most of the oil exported to other countries. This allowed them to drive prices up without penalty. What is the term for this type of system? A. Cartel

B.            Local content law

C.            An embargo

D.            Dumping

E.            Protectionism

 

30, What are local content laws?

A.            Laws that protect content in published material such as books and music

B.            Laws that host countries use to govern business

C.            Laws that require products sold in a country to be at least partially made in that country

D.            Laws that dictate prices on goods and services being exported

E.            Laws that require citizens to buy goods produced in their home country