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Homework answers / question archive / University of the Andes, Colombia ECON MANAGERIAL Trade 1 - Quiz 1)How can FDI help a country achieve a current account surplus? What economic sector did the WTO tackle first?   The eclectic paradigm has come under sharp criticism by British economist John Dunning

University of the Andes, Colombia ECON MANAGERIAL Trade 1 - Quiz 1)How can FDI help a country achieve a current account surplus? What economic sector did the WTO tackle first?   The eclectic paradigm has come under sharp criticism by British economist John Dunning

Management

University of the Andes, Colombia

ECON MANAGERIAL

Trade 1 - Quiz

1)How can FDI help a country achieve a current account surplus?

  1. What economic sector did the WTO tackle first?

 

  1. The eclectic paradigm has come under sharp criticism by British economist John Dunning.

 

  1. In general, what are two types of arguments for government intervention into the free flow of trade?
  2. A government should use subsidies to support promising firms that are active in newly emerging industries, according to the                                                                                                                                                                                 

argument.

 

  1. Some of Toyota's competitive advantage is due to its superior ability to manage the design, engineering and manufacturing of its automobiles. Despite the fact that some of its products could be licensed for production by another company, it does not do so because                                                                                       .
  2. Radical writers believe that         extract profits from the host country and take them to their home country, giving nothing of value to the host country in exchange.

 

  1. If one firm in a(n)             cuts prices, this can take market share away from its competitors, forcing them to respond with similar price cuts in order to retain their market share.
  2. FDI is an acronym that stands for
  3. In the United States, if a domestic producer believes that a foreign firm is dumping production in the U.S. market, it can file a petition with the following two government agencies

 

  1. Two of the first industries targeted for GATT reform were the global telecommunication and the financial services industry.
  2. Countries have been known to occasionally manipulate to try to encourage their firms to invest at home.

 

  1. A tax levied on imports is referred to as non-tariff barriers.

 

  1. If a Canadian corporation decides to create FDI in Mexico because the new plant site has lower costs, this can cause Canada to:
  2. Camelot Baby Carriages decided to enter the European market. Sam's Strollers followed to ensure that Camelot would not gain competitive advantage in Europe that could lead to the same thing occurring in Asia. Sam's then decides to enter the Australian market, and Camelot follows. This is an example of:

 

 

  1. Because of the problems associated with doing business in a different culture where the "rules of the game" may be very different, FDI is risky.

 

  1. The main gains from subsidies accrue to                , whose international competitiveness is increased as a result of them.
  2. A study by Japanese economists calculated that tariffs on imports of food, cosmetics and chemicals into Japan cost the average Japanese consumer about how much per year?

 

  1. Administrative trade policies are bureaucratic rules that are designed to make it easy for imports to enter a country.
  2. Other things being equal, investing in countries that are permissive to FDI is preferable to investing in countries that restrict FDI.
  3. is the main effect of the Uruguay Round Agreement on Agricultural products.

 

  1. Which of the following is NOT a component of the Uruguay Round agreement?

 

 

  1. In the United States, if a domestic producer believes that a foreign firm is dumping production in the U.S. market, it can file a petition with the following two government agencies

 

 

 

 

 

 

 

  1. A tax levied on imports is referred to as non-tariff barriers.

 

 

  1. According to the opening case, one of the reasons why China imposed an export quota on rare earth metals is that several of its own mining companies did not meet environmental standards and had to be closed.

 

 

 

  1. If one firm in a(n) cuts prices, this can take market share away from its competitors, forcing them to respond with similar price cuts in order to retain their market share.

 

  1. Silicon Valley has a  in the generation of knowledge related to the computer and semi-conductor industries, when looked at by Dunning's theory.
  2. If TransCanada Pipelines, a Canadian based corporation, purchased a 50% interest in a company in Italy, that purchase would be an example of

 

  1. According to the opening case, until 2003, JCB entered the Indian market in what way?

___        _

 

 

 

  1. Although this organization is perhaps best known for its peacekeeping role, one of its central mandates is the promotion of higher standards of living, full employment, and conditions of economic and social progress and development. What is  it called?
  2. What is the primary purpose of the World Trade Organisation?

 

 

 

  1. It is commonly believed that globalization stimulates economic growth, creates jobs, and raises income levels.
  2. According to the opening case, the most important reason to assemble iPhones in China was due to:
  3. is the theory that predicts that the number of transistors of a computer chip doubles every 24 months.
  4. Due to containerization, the transportation costs associated with the globalization of production have:
  5. Suppose Petro Canada, an international oil company, had a complaint about a trade issue. The          , a governing body established at the Uruguay Round in 1993 to police the international trading system, is an organization that Petro Canada could take its complaint to.
  6. To benefit the globalisation of markets, a company has to be a multinational firm.

 

  1. Which of the following statements is NOT true regarding the majority of Latin American Countries?

 

  1. Sourcing goods and services from locations around the globe is known as   .
  2. The International Monetary Fund (IMF) is often seen as the lender of last resort nation states whose economies are in economic turmoil.
  3. Because of the global presence of widely accepted products like McDonalds, Coca Cola, and Apple’s iPod, national markets are disappearing
  4. Many critics of globalization argue that outsourcing leads to increase use of   labour practices in developing countries.
  5. Currently most global markets are for industrial goods and material that serve a universal need the world over.
  6. As markets globalize and an increasing proportion of business activity transcends national borders, there is a need for institutions to help, manage, regulate and police the global market place
  7. In 2013, the US’s largest trade partner when it comes to exports from the United States was      .
  8. is NOT considered to be a “developing” nation
  9. Under the umbrella of GATT there have been eight rounds of negotiations among member states. The                                                                                                                                                                                                        was the most recent round of negotiations.

 

  1. Although this organization is perhaps best known for its peacekeeping role, one of its central mandates is the promotion of higher standards of living, full employment, and conditions of economic and social progress and development. What is it called?
  2. What is the primary purpose of the World Trade Organisation?

 

  1. Based on recent trends in international business, when Japanese and German businesspeople get together to do business, it is almost certain that they will communicate in:
  2. Islam is the second largest of the world's major religions, with about 1.2 billion adherents.

 

  1. Two dimensions are particularly important when explaining differences between cultures – the degree to which the basic unit of social organizations is the individual, as opposed to the group; and the degree to which a society is stratified into classes.
  2. The relationship among religion, ethics, and society is straightforward and relatively easy to discern.
  3. Appropriate dress code, good social manners, eating with the correct utensils, and neighbourly behaviour are all examples of
  4. A caste system is a rigid system of:
  5. According to Max Weber, the ascetic principles embedded in Hinduism do not encourage the kind of entrepreneurial activity found in Protestantism.
  6. Nation states:
  7. was founded in India in the sixth century BC by Shiddhartha Gautama, an Indian prince who renounced his wealth to pursue an ascetic lifestyle and spiritual perfection.
  8. The most famous study of how culture relates to values in the workplace was undertaken by Geert Hofstede.
  9. The relationship among religion, ethics, and society is straightforward and relatively easy to discern.
  10. The most widely practiced religion in the world, according to the textbook, is probably    .
  11. A form of       in which the position a person has by birth can be changed through his or her own achievements or luck is a class system.

 

  1. are the two major categories of norms.

 

  1. Islam is the second largest of the world's major religions, with about 1.2 billion adherents.
  2. A        is a system of values and norms that are shared among a group of people and that when taken together constitute a design for living.
  3. Who lives in a social structure that is shaped by Islamic values and norms of moral conduct?
  4. According to your text, Islam dates back to
  5. A society refers to a group of people who share a common set of values and norms.
  6. Which of the following is NOT a disadvantage of government intervention in trade policy?
  7. What economic sector did the WTO tackle first?
  8. Radical writers believe that       extract profits from the host country and take them to their home country, giving nothing of value to the host country in exchange.
  9. According to      , subsidies can help a firm achieve a first-mover advantage in an emerging industry.
  10. A study by Japanese economists calculated that tariffs on imports of food, cosmetics and chemicals into Japan cost the average Japanese consumer about how much per year?
  11. Which of the following is NOT a component of the Uruguay Round agreement?
  12. Two of the first industries targeted for GATT reform were the global telecommunication and the financial services industry.
  13. How can FDI help a country achieve a current account surplus?

 

  1. Camelot Baby Carriages decided to enter the European market. Sam's Strollers followed to ensure that Camelot would not gain competitive advantage in Europe that could lead to the same thing occurring in Asia. Sam's then decides to enter the Australian market, and Camelot follows. This is an example of:
  2. Other things being equal, investing in countries that are permissive to FDI is preferable to investing in countries that restrict FDI.
  3. occurs, according to the U.S. Department of Commerce, whenever a U.S. citizen, organization, or affiliated group takes an interest of 10 percent or more in a foreign business entity.
  4. The eclectic paradigm has come under sharp criticism by British economist John Dunning.
  5. The D'Amato Act is legislation that allows Americans to sue foreign firms that use property in Cuba confiscated from them after the 1959 revolution.
  6. The largest source country for FDI is Japan.
  7. Historically, most FDI has been directed at     .
  8. Selling goods in a foreign market at above their costs of production is called dumping.
  9. The main gains from subsidies accrue to     , whose international competitiveness is increased as a result of them.
  10. FDI is an acronym that stands for
  11. Administrative trade policies are bureaucratic rules that are designed to make it easy for imports to enter a country.
  12. A government should use subsidies to support promising firms that are active in newly emerging industries, according to the          argument.

 

 

  1. Suppose Exxon, a U.S. company, was contracted by a Saudi Arabian company to build an oil refinery in Saudi Arabia, and the contract specified that Mobil would handle every aspect of the construction of the refinery, including the training of the operating personnel. This type of project is referred to as a(n)

 

  1. allow firms to share the fixed costs of developing new products or processes

 

  1. One advantage to exporting is that it avoids the costs of establishing manufacturing operations in the host country.

 

 

  1. A(n)             strategy makes sense if a firm has valuable core competencies that indigenous competitors in foreign markets lack, and if the firm faces relatively weak pressures for local responsiveness and cost reductions.

 

  1. is concerned with the creation of goods or service.

 

  1. A transnational strategy makes sense when a firm faces low pressures for cost reductions and low pressures for local responsiveness.

 

 

 

 

  1. is the difference between total revenues and total costs.

 

  1. Which of the following is NOT a factor that is driving pressures for local responsiveness among global firms?

 

  1. Daimler-Benz used            to establish a bigger presence in the North American market.

 

  1. Firms that operate internationally are able to reduce the costs of value creation because they realize greater cost economies from experience effects by serving an expanded global market from a central location.

 

 

  1. The production, marketing, and R&D activities of firms pursuing a(n)           strategy are concentrated in a few favourable locations.

 

  1. According to the textbook, the success of a strategic alliance is a function of three factors. These are: partner selection, alliance structure, and              .

 

  1. is basically a specialized form of licensing in which the franchiser not only sells intangible property to the franchisee, but also insists that the franchisee agree to abide by strict rules as to how it does business.                                                                                                                                                                                        

 

  1. According to the opening case, until 2003, JCB entered the Indian market in what way?                                         
  2. An advantage of acquisitions is          .

 

  1. Profit is the difference between total revenues and total costs.

 

 

 

  1. The greater the pressures for cost reductions are, the most likely a firm will want to pursue some combination of:

 

  1. Licensing gives a firm tight control over the manufacturing, marketing, and strategy that is required for realizing experience curve and location economies.
  2. The system curve refers to systematic reductions in production costs that have been observed to occur over the life of a product.

 

  1. In a(n)          , the firm owns 100 percent of the stock.

 

  1. Whereas primarily                                                               firms pursue licensing, primarily                                     firms pursue franchising.
  2. According to the textbook, which of the following strategies is difficult to implement due to organizational problems?  
  3. A transnational strategy makes sense when a firm faces low pressures for cost reductions and low pressures for local responsiveness.

 

  1. Technology that is                is proprietary product technology.

 

  1. The greatest advantage of buying component parts from independent suppliers is:

 

  1. Countertrade is an alternative means of structuring an international sale.

 

 

  1. The highest rate of defaults on commercial transactions for Canadian exporters comes from whom?

 

  1. Demands for local responsiveness creates pressures to                                                                                          the major national or regional markets in which the firm does business or to implement flexible manufacturing processes that enable the firm to customize the product coming out of a factory according to the market in which it is to be sold.
  2. Make-or-buy decisions are even more problematic for international businesses.

 

 

  1. A large vertically integrated Japanese trading house is known as a sogo shosha.

 

 

  1. Which of these stands at the centre of international commercial transactions?

 

  1. Global Trading, Inc. is considering export operations for the first time. It can increase the probability of success by taking all of these steps EXCEPT:

 

  1. Needs that are the same all over the world are referred to as                                                                                            needs.
  2. Germany is one of the world's most successful exporting nations.
  3. Countertrade is most attractive to:
  4. Issued by a bank at the request of an importer, the                                                                                                            states that the bank will pay a specified sum of money to the beneficiary on presentation of particular, specified documents.

 

 

  1. Which of the following is NOT one of the objectives of flexible manufacturing technology, or lean production?
  2. Pressures from the centre to improve a factory's cost structure and/or customize a product to the demands of consumers in a particular nation can start a chain of events that ultimately leads to development of additional capabilities at that factory. p ?

 

  1. Two important objectives shared by manufacturing and materials management are to lower costs and to simultaneously increase product quality.

 

 

  1. What is a grouping of various types of machinery, a common materials handler, and a centralized cell controller?

 

  1. The decision about whether a firm should make or buy the component parts that go into the final product is referred to as a sourcing decision.

 

 

  1. The key decision factors that pertain to where an international firm locates its manufacturing facilities can be grouped under three broad headings. These are:

 

  1. There is more than one type of countertrade.

 

  1. What percent of world trade by value in 1998 was in the form of countertrade?
  2. Countertrade is most attractive to small firms.
  3. Access International, a British based greeting card company, is interested in importing paper from Canada. Which of these should Access arrange first for the Canadian company to ship the merchandise?

 

 

  1. In an international transaction between an Asian exporter and a German importer, the German company will request a        whereas the Asian company will issue a

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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