Saint GBA440 quiz 2

1. Question
:
Laissez-faire economics refers to which of the following?

Student Answer:
Less government interference in commerce and greater individual economic
freedom
A centrally planned economic system
Government-controlled commerce and individual
control effort
Creating monopolies through government
partnership
Points Received: 1 of 1
Comments:

Question 2. Question
:
In most failed centrally planned economies ________.

Student Answer: market conditions
helped determine who produced various goods
prices of products were a function of supply
and demand
central planning agencies specified production
goals and decided prices
central planners paid attention to efficiency
improvement
Points Received: 1 of 1
Comments:

Question 3. Question
:
According to mercantilism, accumulation of national wealth
depended on ________.

Student Answer:
increasing a nation’s trade surplus
expanding a nation’s total value of trade
expanding a nation’s total volume of trade
increasing a nation’s trade deficit
Points Received: 1 of 1
Comments:

Question 4. Question
:
Adam Smith believed which of the following?

Student Answer: International
trade should be restricted by tariffs and quotas.
Governments should intervene to maintain a
balance of exports and imports.
Market forces should determine trade flows.
Countries should produce most goods themselves
and trade as little as possible.
Points Received: 1 of 1
Comments:

Question 5. Question
:
According to the theory of ________, trade is still
beneficial even if one country is less efficient in the production of two
goods, as long as it is less inefficient in the production of one of the goods.

Student Answer: absolute
advantage
mercantilism
comparative advantage
factor proportions
Points Received: 1 of 1
Comments:

Question 6. Question
:
The focus of factor proportions theory is on the ________.

Student Answer:
productivity of the production process
cost-effectiveness of the production process
use of abundant production factors
use of expensive production factors
Points Received: 1 of 1
Comments:

Question 7. Question
:
The Porter diamond consists of all the following except
________.

Student Answer: factor conditions
demand conditions
supply conditions
firm strategy, structure, and rivalry
Points Received: 1 of 1
Comments:

Question 8. Question
:
Which of the following is not a problem associated with the
infant industry argument?

Student Answer:
It can cause domestic companies to become overly innovative.
Once protection of an industry is given, it
can be politically difficult to eliminate.
Protection can do more economic harm than
good.
Governments might have difficulty identifying
the industries worth protecting.
Points Received: 1 of 1
Comments:

Question 9. Question
:
Which of the following is not an example of an instrument
that government uses to promote trade?

Student Answer:
Tariffs
Subsidies
Export financing
Foreign trade zones
Points Received: 1 of 1
Comments:

Question 10. Question
:
A tariff levied by the government of a country that is
exporting a product is called a(n)________.

Student Answer:
export tariff
ad valorem tariff
compound tariff
specific tariff
Points Received: 1 of 1
Comments:

Question 11. Question
:
Which of the following is not a way in which the Uruguay
Round of Negotiations modified the original General Agreement on Tariffs and
Trade (GATT) treaty?

Student Answer: It clearly
defined intellectual property rights.
It established the World Trade Organization to
regulate trade between nations.
It drastically reduced tariffs and nontariff
barriers in telecommunications.
It included international trade in services
for the first time.
Points Received: 1 of 1
Comments:

Question 12. Question
:
The purchase of physical assets or a significant amount of
ownership (stock) of a company in another country to gain a measure of
management control is called ________.

Student Answer:
foreign direct investment
portfolio investment
mergers
vertical integration
Points Received: 1 of 1
Comments:

Question 13. Question
:
In the ________ product stage of the international product
life cycle theory, increased competition pressures a company to produce in
low-cost developing nations.

Student Answer: new
IN maturing
standardized
declining
Points Received: 0 of 1
Comments:

Question 14. Question
:
Economic integration whereby countries remove all barriers
to trade among themselves, but each country determines its own barriers against
nonmembers, is called a(n) ________.

Student Answer: economic union
IN customs union
common market
free trade area
Points Received: 0 of 1
Comments:

Question 15. Question
:
________ is the set of planned actions taken by managers to
help a company meet its objectives.

Student Answer: Mission
formulation
Planning
Value chain analysis
Strategy
Points Received: 1 of 1
Comments:

Question 16. Question
:
A strategy that establishes research and development
(R&D), production, and marketing at the subsidiary level is called a
________ strategy.

Student Answer: retrenchment
global
multinational
stability
Points Received: 1 of 1
Comments:

Question 17. Question
:
A ________ strategy can cause a company to overlook
important differences in buyer preferences from one market to another.

Student Answer:
global
retrenchment
multidomestic
multinational
Points Received: 1 of 1
Comments:

Question 18. Question
:
Collection and analysis of information used to assist
managers in making informed decisions is known as ________.

Student Answer: data collection
market research
secondary market research
market analysis
Points Received: 1 of 1
Comments:

Question 19. Question
:
In countries with high illiteracy rates, a(n) ________
should not be used to collect information.

Student Answer: personal
interview
observation of behavior
written survey
group interview
Points Received: 1 of 1
Comments:

Question 20. Question
:
The process of obtaining information that already exists
within the company or that can be obtained from outside sources is called
________.

Student Answer:
secondary market research
logistics management
primary market research
invalid market research
Points Received: 1 of 1
Comments:

Question 21. Question
:
When an exporter ships merchandise and later bills the
importer for its value, it is using a(n) ________ type of export/import
financing.

Student Answer: advance payment
open account
letter of credit
documentary collection
Points Received: 1 of 1
Comments:

Question 22. Question
:
Which of the following is a contractual entry mode in which
one company supplies another with intangible property and other assistance over
an extended period?

Student Answer:
Franchising
Management contract
Licensing
Strategic alliance
Points Received: 1 of 1
Comments:

Question 23. Question
:
Which of the following refers to the name of one or more
items in a product line that identifies the source or character of the items?

Student Answer: Product
description
Image tag
Brand name
Unique descriptor
Points Received: 1 of 1
Comments:

Question 24. Question
:
Which of the following is not an example of a product that
is commonly counterfeited?

Student Answer: Perfume
Books
Clothing
Watches
Points Received: 1 of 1
Comments:

Question 25. Question
:
The term ________ refers to a company’s efforts to reach
distribution channels and target customers through communications such as
personal selling, advertising, public relations, and direct marketing.

Student Answer: marketing
objectives
distribution policies
promotion mix
value density
Points Received: 1 of 1
Comments:

Question 26. Question
:
Examples of pull strategies include each of the following
except ________.

Student Answer: mass media
advertising
direct marketing techniques
free trial packages
encouraging good retail visibility
Points Received: 1 of 1
Comments:

Question 27. Question
:
Companies along a distribution channel that work together in
delivering products to customers are called ________.

Student Answer: arbitrageurs
intermediaries
solicitors
reduction planners
Points Received: 1 of 1
Comments:

Question 28. Question
:
________ refers to the process of selecting the location for
production facilities.

Student Answer: Capacity planning
Facilities layout planning
Facilities location planning
Production location planning
Points Received: 1 of 1
Comments:

Question 29. Question
:
An expatriate manager who returns from an overseas
assignment to find that there is no position for him in his home country office
would most likely experience which of the following?

Student Answer:
Reverse culture shock
Decruitment
Expatriate failure
Culture shock
Points Received: 1 of 1
Comments:

Question 30. Question
:
Top management contends that Hafstrom would benefit most
from continuing to manufacture its own parts, even if they are made at another
location overseas. Which of the following is being recommended in this
approach?

Student Answer: Venture
capitalization
Just-in-time manufacturing
Vertical integration
Outsourcing
Points Received: 1 of 1
Comments: