Introduction To Business - Section 65z - Spring 2009 - Part 2

156 Questions  I  By Marcosbarrera
Introduction to Business - Section 65Z - Spring 2009- part 2

  
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1.  A ____________________ is a partnership in which companies from two different countries join to undertake a major project.
A.
B.
C.
D.
2.  _______ involves the production of private-label goods by a foreign company to which a company then attaches its brand name or trademark.
A.
B.
C.
D.
3.  A ____________________ represents a long-term partnership between two or more companies established to help each firm build competitive market advantages.
A.
B.
C.
D.
4.  A specialized organization that assists businesses in creating relationships with foreign customers and suppliers is known as a(n):
A.
B.
C.
D.
5.  Pillsbury is a firm that operated throughout the United States, even when it was wholly owned by a British company, Grand Metropolitan. Pillsbury was an example of a:
A.
B.
C.
D.
6.  A risk unique to firms with direct investment in a foreign county is the potential takeover of the firm's assets by the government of that country. This takeover is called a(n):
A.
B.
C.
D.
7.  Granting a foreign company the right to manufacture your product or to use your firm's trademark in return for a fee is called:
A.
B.
C.
D.
8.  Which of the following assures exporters that they will receive prompt payment for their global market transactions?
A.
B.
C.
D.
9.  Which of the following strategies for reaching global markets involves the lowest risk and offers the lowest profit potential?
A.
B.
C.
D.
10.  A key feature of a(n) ____________________ is that it has manufacturing and marketing facilities in many different countries
A.
B.
C.
D.
11.  The federal government created ___________ to help small and medium sized businesses get involved in exporting
A.
B.
C.
D.
12.  All of the following are recognized as being potential hurdles to be overcome in global trading except:
A.
B.
C.
D.
13.  ____________ occurs when a country lowers the value of its currency relative to the currency of other nations
A.
B.
C.
D.
14.  __________ is the exchange of merchandise or services for other merchandise or services without the exchange of money.
A.
B.
C.
D.
15.  Under a system of floating exchange rates, changes in the value of the U.S. dollar relative to other currencies are the result of:
A.
B.
C.
D.
16.  ____________ describes an attitude held by some American business people that our culture is superior to all others and that everyone else should adopt the American way of doing things.
A.
B.
C.
D.
17.  Which of the following represents the value of one nation's currency relative to the currencies of another country?
A.
B.
C.
D.
18.  The legislation that prohibits U.S. businesses from making "questionable" or "dubious" payments to foreign officials to secure business contracts is the           ________ Act
A.
B.
C.
D.
19.  Which of the following terms describes the set of values, beliefs, rules, language, and institutions held by a specific group of people?
A.
B.
C.
D.
20.  Selling the same product in essentially the same way worldwide is known as:
A.
B.
C.
D.
21.  Which of the following describes a complex form of bartering involving several countries?
A.
B.
C.
D.
22.  ______________ is the economic theory advocating that a nation should try to sell more goods to other nations than it buys from them
A.
B.
C.
D.
23.  Labor unions and businesses in the heavy equipment industry have asked the U.S. Congress to place a tax on imported equipment in order to make it more expensive. They hope that this will allow U.S. producers to be more competitive. The U.S. heavy equipment industry appears to be seeking a(n):
A.
B.
C.
D.
24.  The __________ represents the first attempt to establish a truly global mediation center to resolve international trade disputes
A.
B.
C.
D.
25.  ___________ is the use of government regulations to limit the import of goods and services.
A.
B.
C.
D.
26.  A(n) __________ refers to a complete ban of the imports or exports of certain products from a specific country.
A.
B.
C.
D.
27.  Differences in electrical power and transportation systems can present special problems for U.S. firms when attempting to enter global markets. These represent the __________ forces that impact global business.
A.
B.
C.
D.
28.  The three countries participating in NAFTA are:
A.
B.
C.
D.
29.  The common market arrangement that groups Brazil, Argentina, Paraguay, Uruguay, Chile, and Bolivia is called the:
A.
B.
C.
D.
30.  ________ tariffs are designed to raise money for the government
A.
B.
C.
D.
31.  In an effort to protect domestic jobs, some countries will place a limit on the number of certain types of products that can be imported. These limits are called:
A.
B.
C.
D.
32.  At present, China has a comparative advantage over the United States in the production of aircraft.
A.
B.
33.  At present, China has a comparative advantage over the United States in the production of clothing
A.
B.
34.  The Theory of Comparative Advantage implies that only two-way flows of goods (one good for another) make the citizens of the trading nations better off. One-way flows of goods (with money coming the other way) do not
A.
B.
35.  One hundred percent of the goods exported to Japan from the United States in 2007 were in one of the following four product categories: nuclear reactors (and spare parts for them), aircraft, medical and industrial equipment, or cereal grains
A.
B.
36.  The United States had a favorable balance of trade with Japan in 2007.
A.
B.
37.  According to the story Mr. Lilly told, if the United States ran a trade deficit with Japan forever, Americans would become far wealthier than they are today
A.
B.
38.  Chapter 3 is our one chapter on
A.
B.
C.
D.
39.  Nations are trading with one another in  
A.
B.
C.
40.  In 1968, world trade (trade between all nations combined) was approximately _____________ dollars a year
A.
B.
C.
D.
41.  In 2007, world trade was ______________ dollars a year
A.
B.
C.
D.
E.
42.  Between 1968 and 2007, world trade  
A.
B.
C.
D.
43.  In 1968, world trade was about ____ percent of world gross domestic product
A.
B.
C.
D.
44.  In 2007, world trade was about ____ percent of world gross domestic product
A.
B.
C.
D.
45.  Why has world trade increased so much since 1968?
A.
B.
C.
D.
46.  In 1947, the average tariff on industrial goods was
A.
B.
C.
D.
47.  Today, the average tariff on industrial goods is less than  
A.
B.
C.
D.
48.  When you eliminate import tariffs, what you're essentially saying is
A.
B.
C.
D.
E.
49.  In 1817, English economist David Ricardo published a book in which he explained
A.
B.
C.
D.
50.  For the purposes of determining which nations have a comparative advantage over other nations in the production of a given good, efficiency is measure in units of
A.
B.
C.
D.
E.
51.  Your nation will have a favorable balance of trade with other nations if it  
A.
B.
C.
D.
E.
52.  Technically, to look at the balance of trade between the U.S. and Japan (in a given year,) I should look at the trade in  
A.
B.
C.
53.  The United States has run a trade ____________ with Japan for at least the last ______ years
A.
B.
C.
D.
54.  The second statistic countries use to see how their economies are faring in the international marketplace is called the balance of trade.
A.
B.
55.  Like imports, tourism in the United States hurts the United States' balance of payments vis-a-vis other nations. So the more tourists that come here, the worse our balance of payments deficit becomes.
A.
B.
56.  Every time an American travels in Japan, other things being equal, it worsens our trade balance with Japan.  
A.
B.
57.  Pepsi Cola has been more successful in Japan with its strategy of opening a foreign subsidiary than Coca-Cola has been with its strategy of licensing to Japanese businessmen the right to make and sell its products.
A.
B.
58.  Money flows into and out of a country are classified as foreign investment flows when ____________ are purchased
A.
B.
C.
D.
E.
59.  The only component of our (the U.S.'s) balance of payments deficit (with the rest of the world) in 2003 that was FAVORABLE was  
A.
B.
C.
D.
E.
60.  In 2003, the U.S. had ________________ balance of trade and _______________ balance of payments with the rest of the world
A.
B.
C.
D.
61.  By far the largest component in our (the United States') balance of payments in 2003 was from  
A.
B.
C.
D.
62.  A country will call its balance of payments favorable if and only if
A.
B.
C.
63.  In the chapter 3 part 2 slides, the acronym OPM was used to represent the expression  
A.
B.
C.
D.
64.  Franchising is a special form of  
A.
B.
C.
D.
65.  Hewlett-Packard Corporation is headquartered in the United States, and has foreign subsidiaries in many foreign countries
A.
B.
66.  In general, foreign subsidiaries must operate in compliance with all applicable laws of the countries in which they operate
A.
B.
67.  A company can engage in foreign direct investment without operating a foreign subsidiary
A.
B.
68.  Many large, successful companies have made mistakes that have cost them millions of dollars when marketing their products in foreign countries
A.
B.
69.  Currency exchange rate fluctuations add an additional degree of risk to profits earned overseas, as compared to profits earned in the company's own home country.  
A.
B.
70.  When the dollar weakens, the profits of U.S.-based manufacturers that do a lot of exporting generally go down
A.
B.
71.  In general, a weakening dollar will have a negative effect on the welfare of a U.S. student traveling in Europe
A.
B.
72.  In general, a weakening dollar will have a negative effect on the welfare of a U.S.-based importer such as Cost Plus Imports or Pier 1 Imports
A.
B.
73.  In general, a weakening dollar will have a negative effect on the welfare of a U.S.-based manufacturer that earns over 50% of its revenues from overseas sales.
A.
B.
74.  If yesterday a dollar bought .63 Euro, and today a dollar buys .62 Euro, then it would be correct to say that the dollar has strengthened overnight
A.
B.
75.  If yesterday a dollar bought .63 Euro, and today a dollar buys .62 Euro, then it would be correct to say that the dollar has gone up overnight
A.
B.
76.  The World Trade Organization was established by the Uruguay Round of Amendments to the GATT
A.
B.
77.  The international court of the World Trade Organization has jurisdiction only over the countries that have signed the GATT, and only with respect to the provisions of the GATT
A.
B.
78.  New United Motors (Nummi) is an example of  
A.
B.
C.
D.
E.
79.  The definition of strategic alliance presented in lecture is:  
A.
B.
C.
D.
80.  Foreign subsidiaries are a special case of  
A.
B.
C.
D.
81.  U.S.-based exporters like Hewlett-Packard, Sun Microsystems, Cisco, Intel, and Microsoft generally benefit from a ___________ dollar.
A.
B.
C.
82.  According to Mr. Lilly's lecture, when the dollar weakens, it tends to ___________ America's trade deficit.  
A.
B.
C.
83.  Mercantilism is an economic policy in which a country tries to ensure that  
A.
B.
C.
D.
E.
84.  Import tariffs are a quick and reliable way to  
A.
B.
C.
D.
85.  According to Mr. Lilly, import tariffs are generally  
A.
B.
C.
86.  According to Mr. Lilly, the main reason the U.S. currently has an import embargo in place against all products made in Cuba is that  
A.
B.
C.
D.
87.  The General Agreement on Tariffs and Trade (GATT) was first signed in  
A.
B.
C.
D.
88.  The Uruguay Round of amendments to the GATT were ratified by the U.S. Congress in
A.
B.
C.
D.
89.  The Uruguay Round of amendments to the GATT lowered import tariffs by an average of  
A.
B.
C.
D.
E.
90.  The World Trade Organization is headquartered in
A.
B.
C.
D.
E.
91.  According to Mr. Lilly, _____ nations have now signed the GATT and thereby joined the WTO.
A.
B.
C.
D.
E.
92.  According to Mr. Lilly, so far _____ nations have joined the European Union
A.
B.
C.
D.
E.
93.  A free trade area has ______________ of the three elements of a common market.
A.
B.
C.
94.  The North American Free Trade Agreement (NAFTA) was signed in  
A.
B.
C.
D.
95.  The laws we have written establish the standards of ________ behavior
A.
B.
C.
D.
96.  Obeying the law is ________ ethical behavior
A.
B.
C.
D.
97.  An ethical dilemma refers to a situation where you must:
A.
B.
C.
D.
98.  Which of the following reflects the desire of an ethical manager to achieve a "win-win" relationship with others?
A.
B.
C.
D.
99.  Which of these questions can help us avoid a decision that would injure our self-esteem?
A.
B.
C.
D.
100.  Which of the following describes the debate regarding Napster in the boxed material Making Ethical Decisions?
A.
B.
C.
D.
101.  Ethical behavior will result in all of the following except:
A.
B.
C.
D.
102.  Establishing a formal code of ethics is:
A.
B.