Saint GBA440 midterm exam

Grade Details – All QuestionsQuestion 1. Question
: All goods and services purchased abroad and brought into a
country are called ________. Student Answer: domestic products exports national products CORRECT imports Points Received: 1 of 1 Comments: Question 2. Question
: Tacky Toys, a U.S.-based toy retailer, buys all its
merchandise from Mushi Toys, a Japan-based toy manufacturer with production
facilities in 12 nations. Mushi Toys markets its toys globally without
modification. Mushi Toys selling its products to Tacky Toys is an example of
________. Student Answer: importing bartering CORRECT exporting globalization Points Received: 1 of 1 Comments: Question 3. Question
: Which of the following refers to convergence in buyer
preferences in markets around the world? Student Answer: Homogenization of
markets CORRECT Globalization of markets Internationalization of markets Denationalization of markets Points Received: 1 of 1 Comments: Question 4. Question
: Which of the following is an example of the globalization of
production? Student Answer: Canadian
consumers buy foods imported from Australia A Chinese company sells textiles to European car
makers CORRECT A U.S. company builds a
manufacturing facility in India A Swiss watch manufacturer builds a
manufacturing facility in Switzerland Points Received: 1 of 1 Comments: Question 5. Question
: The purpose of the General Agreement on Tariffs and Trade
(GATT) was to ________. Student Answer: create an
international currency regulate exchange rates create regional trade organizations CORRECT promote free trade Points Received: 1 of 1 Comments: Question 6. Question
: A limit placed on the quantity of an imported product is
known as which of the following? Student Answer: Import sanction Tariff Embargo CORRECT Nontariff barrier Points Received: 1 of 1 Comments: Question 7. Question
: The three main goals of the ________ are to help the free
flow of trade, help negotiate the further opening of markets, and settle trade
disputes between its members. Student Answer: General Agreement
on Tariffs and Trade (GATT) CORRECT World Trade Organization (WTO) World Bank International Monetary Fund (IMF) Points Received: 1 of 1 Comments: Question 8. Question
: Last year, Sabrina Shin started a business selling all types
of spices and hot sauces. The business is small but this entrepreneur’s dreams
are big. Given limited demand and sales fluctuations in the domestic market,
Sabrina has been considering going international. Yet she has little
information, many doubts, and no guidance. If Sabrina needs $500,000 to expand
her business internationally, which of the following organizations might best
be able to assist her? Student Answer: Export-Import
Bank World Trade Organization CORRECT Small Business Administration International Monetary Fund Points Received: 1 of 1 Comments: Question 9. Question
: The first age of globalization extended from ________. Student Answer: the mid-1700s to the
1850s CORRECT the mid-1800s to the 1920s 1920 to 1950 1960 to 2000 Points Received: 1 of 1 Comments: Question 10. Question
: Which of the following terms is used to refer to widespread
job turnover throughout an economy? Student Answer: Redeployment CORRECT Churning Wage differentials Attrition spectrum Points Received: 1 of 1 Comments: Question 11. Question
: The “global business environment” consists of four
distinct elements: globalization, national business environments, the
international business environment, and ________. Student Answer: falling trade and
investment barriers CORRECT international firm management technological innovation multinational corporations Points Received: 1 of 1 Comments: Question 12. Question
: Which of the following terms is used to refer to the
positive or negative evaluations, feelings, and tendencies that individuals
harbor toward objects or concepts? Student Answer: Customs CORRECT Attitudes Manners Values Points Received: 1 of 1 Comments: Question 13. Question
: Which of the following refers to the process whereby
cultural traits spread from one culture to another? Student Answer: Cultural
imperialism Social mobility CORRECT Cultural diffusion Cultural literacy Points Received: 1 of 1 Comments: Question 14. Question
: Which of the following terms is used to refer to behavior
that is shared by a heterogeneous group or by several groups? Student Answer: Manners Lingua franca CORRECT Popular custom Folk custom Points Received: 1 of 1 Comments: Question 15. Question
: A ________ is a system of social stratification in which
personal ability and actions determine an individual’s social status and
mobility. Student Answer: genealogy system moksha system caste system CORRECT class system Points Received: 1 of 1 Comments: Question 16. Question
: Which of the following statements about China is NOT true? Student Answer: China’s
population includes more than 50 distinct ethnic groups. CORRECT The Chinese are outspoken and tend
to express what they think. Business people are considered important role
models for youth. China is home to most of Confucianism’s 225
million followers. Points Received: 1 of 1 Comments: Question 17. Question
: All of the following are dimensions developed by Hofstede
for examining cultures except ________. Student Answer: individualism
versus collectivism power distance uncertainty avoidance CORRECT caste system versus class system Points Received: 1 of 1 Comments: Question 18. Question
: Sid Maxwell is head of legal affairs for Hudson Inc., a
producer of animal figurines that include an embedded software program that
makes animal sounds. Hudson is expanding its market to include parts of Asia
and Maxwell is concerned about reports of software piracy in the region. Which
of the following could Hudson obtain to protect its rights to the proprietary
software embedded in the figurines? Student Answer: Trademark Patent CORRECT Copyright Users license Points Received: 1 of 1 Comments: Question 19. Question
: Global Trading, LLC, is a distributor of computer software
and hardware, steel and copper scrap, and telephone and electric utility
equipment. Involved in three very different types of industries, the company
faces many types of risks in its global business. Global Trading just learned
that the government in one country in which it does business has taken over the
entire electric utility industry. Had the government taken over (with
compensation) the assets of Global Trading but not those of any other company,
the government’s actions would be an example of ________. Student Answer: CORRECT expropriation nationalization confiscation communism Points Received: 1 of 1 Comments: Question 20. Question
: Susan Smith works in marketing at Reconditioned
Refrigerators (R&R), a global manufacturing company. Susan knows that to
advance into upper management she must gain broader experience and was recently
told that she can choose from several locations in which R&R is active for
her first international assignment. Susan knows little about other nations,
their cultures, and their political systems, so she has embarked on an
ambitious research project to make an informed decision. Susan’s personal
political beliefs are congruent with those of a democracy. Susan’s beliefs are
most likely reflected in which of the following political ideologies? Student Answer: Anarchism CORRECT Pluralism Totalitarianism Socialism Points Received: 1 of 1 Comments: Question 21. Question
: A cultural relativist would most likely argue that ethical
truths are ________. Student Answer: consistent in
application CORRECT different from group to group based on ancient principles absolute across societies Points Received: 1 of 1 Comments: Question 22. Question
: The Nike “Swoosh” is an example of a ________. Student Answer: patent fad copyright CORRECT trademark Points Received: 1 of 1 Comments: Question 23. Question
: Which of the following legal systems is based on a detailed
set of written rules and statutes that constitute a legal code? Student Answer: International law CORRECT Civil law Tribal law Common law Points Received: 1 of 1 Comments: Question 24. Question
: Which of the following is the broadest measure of economic
development? Student Answer: Gross domestic
product (GDP) Purchasing power parity (PPP) CORRECT Gross national product (GNP) Human development index (HDI) Points Received: 1 of 1 Comments: Question 25. Question
: Which of the following is an example of a political motive
behind government intervention in trade? Student Answer: Promote a
strategic trade policy CORRECT Gain influence over other nations Protect against unwanted cultural influence Protect young industries from competition Points Received: 1 of 1 Comments: Question 26. Question
: Which of the following is an example of an economic motive
for nations’ attempts to influence international trade? Student Answer: CORRECT Pursue strategic trade policy Protect jobs Respond to “unfair” trade Preserve national security Points Received: 1 of 1 Comments: Question 27. Question
: Companies seek cross-border mergers and acquisitions for
each of the following reasons EXCEPT to ________. Student Answer: get a foothold in
new geographic markets increase a firm’s global competitiveness fill in gaps in companies’ product lines in a
global industry CORRECT free up company budgets for
increased R & D Points Received: 1 of 1 Comments: Question 28. Question
: The main difference between a free-trade area and a customs
union is that the members of a customs union ________. Student Answer: CORRECT agree to treat trade with all nonmember nations in a
similar manner agree to the free movement of all factors of
production harmonize their tax, monetary, and fiscal
policies and create a common currency INCORRECT accept a common stance on economic and
political policies regarding nonmember nations Points Received: 0 of 1 Comments: Question 29. Question
: Which of these is not a component of the international
capital market? Student Answer: CORRECT Foreign exchange market International equity market Eurocurrency market International bond market Points Received: 1 of 1 Comments: Question 30. Question
: Sandy Smith, vice president of marketing for a large
consumer products company, will soon travel to Colombia to spearhead an effort
to increase her company’s presence there. Sandy is concerned about her safety
and has contacted a risk-assessment service for advice. Would Sandy most likely
increase her safety by establishing a daily routine traveling between the hotel
and office? Student Answer: Yes, because this
will help her feel more comfortable in an unfamiliar environment. CORRECT No, because kidnappers are likely
to watch for daily routines. Yes, because this will enable her to develop
relationships with neighbors on the same routines. No, because a regular routine would inhibit
her from blending in with the locals. Points Received: 1 of 1 Comments: Question 31. Question
: Describe the evolution and the present state of the European
Union. Question 32. Question
: Describe international trade including its potential
benefits, and explain why a nation trading with a neomercantilist country would
be at a disadvantage.