BUSI 604 Test 1
Test 1 – 201840 Fall 2018 BUSI … 16 Selected Answer: True Production is ecient when any increase or decrease in output would cause a disproportionate increase in the cost of production and when there is no alternative that would lead to a more protable production of a given product. Question 3 Selected Answer: (______) and (______) consistently rank as two of the leading suppliers to the United States, making up over 25 percent of total trade to the U.S. Canada; Mexico Question 4 Selected Answer: True The U.S. is home to some of the world’s leading hardware and software manufacturers. Question 5 Selected Answer: The (_________) was enacted to provide uniform standards and rules of engagement to a growing international trade market. World Trade Organization (WTO) Question 6 Selected Answer: Which of the following is not one of the ways political risks can be classies? functional Question 7 2 out of 2 points 2 out of 2 points 0 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&return… 3/16 Selected Answer: The (_________) is home to some of the world’s leading hardware and software manufacturers. United States Question 8 Selected Answer: Through (_______), the domestic rm is able to focus its resources on areas in which it maintains a distinct competitive advantage, such as service oerings or research and development. Outsourcing Question 9 Selected Answer: True Foreign direct investment allows domestic rms to receive capital nancing from foreign entities. Question 10 Selected Answer: (_____) have been constructed to prevent domestic companies from employing underage workers—even in foreign countries. U.S. labor laws Question 11 Selected Answer: True The global business manager must possess a strong international awareness and must understand the unique factors that contribute to the success of a global business, including formal education. Question 12 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&return… 4/16 Selected Answer: (___), (___), and (____) are considerable operational dierences of global businesses from that of domestic businesses. All of the above Question 13 Selected Answer: Modern trade history began with the exploration of the Western Hemisphere by (_____) in 1492. Christopher Columbus Question 14 Selected Answer: (______) are the characteristics that are unique to an individual’s learning experiences or character. Attributes Question 15 Selected Answer: False There is no notable dierence in the way a nation conducts business versus the way a large corporation conducts business. Question 16 Selected Answer: Opponents of globalization claim that globalization has led to widespread government corruption as indicated through the extensive use of (______). Bribery Question 17 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&return… 5/16 Selected Answer: False The North American Free Trade Agreement was enacted to provide uniform standards and rules of engagement to a growing international trade market. Question 18 Selected Answer: True ISO standards are designed to be implemented worldwide. Question 19 Selected Answer: A strong correlation exists between (_______) and (_________). Poverty; corruption Question 20 Selected Answer: True Confucianism consider it to be a philosophy of life not a religion. Question 21 Selected Answer: True Internalistic people see nature as a complex machine, and machines can be controlled if one has the right expertise. Question 22 Selected Answer: False When conveying messages, non-verbal communication is not as important as verbal communication. 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&return… 6/16 Question 23 Selected Answer: An (_______) status is one that society assigns to an individual on the basis of factors over which the individual has no control: gender, race, ethnic background, and socioeconomic status, into which one is born. Ascribed Question 24 Selected Answer: False As a result of OECD investigations in the mid -1970s, over four-hundred U.S. companies admitted making questionable or illegal payments in excess of $300 million to foreign government ocials, politicians, and political parties. Question 25 Selected Answer: False A high uncertainty avoidance ranking indicates that the country has a high tolerance for uncertainty and ambiguity. Question 26 Selected Answer: One of the most important issues global business professionals may face is that of being (________) in the cultures in which they choose to do business. Socially responsible Question 27 Selected Answer: (___________) applied the subset of cultural dimensions to the eld of business management, segregating them into independent areas to be further divided in order to get a more precise understanding. Geert Hofstede 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&return… 7/16 Question 28 Selected Answer: True Transparency International provides guidelines for organizations wishing to develop anticorruption programs. Question 29 Selected Answer: True Ethnocentric cultures hold a general contempt for members of other cultures and may manifest itself in attitudes of superiority or sometimes hostility. Question 30 Selected Answer: True Low-context culture refers to societies where people tend to have many connections of shorter duration. Question 31 Selected Answer: True In sequentialism, time moves forward, second by second, minute by minute, hour by hour, in a straight line. Question 32 Selected Answer: False Low context culture refers to societies or groups where people have close connections over a long period of time. Question 33 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&return… 8/16 Selected Answer: U.S. rms have developed and implemented (__________) for employees to serve as guidelines as to how they should comport themselves when representing the company. Standards of conduct Question 34 Selected Answer: Muslims base their doctrine on the teachings in the (_________). Qur’an (Koran) Question 35 Selected Answer: In a predominantly communitarian culture, people place the (_______) before the (______). Community; individual Question 36 Selected Answer: Which of the following are not one of the four distinct areas that relate to verbal communication? Tone Question 37 Selected Answer: False People in particularistic cultures share the belief that general rules, codes, values and standards take precedence over particular needs and claims of friends and relations. Question 38 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&return… 9/16 Selected Answer: False Operation risk ranges from property title uncertainty, property line encroachment, squatting, and even government expropriations, such as capital levies and unexpected export or excise taxes. Question 39 Selected Answer: False Primary responsibility for the presentation of evidence and legal arguments lies with the judge. Question 40 Selected Answer: (___________) is the misuse of public power for private prot or political gain. Corruption Question 41 Selected Answer: Property can be classied as both (_______) and (__________). Physical; intellectual Question 42 Selected Answer: False According to the Organization for Economic Cooperation and Development (OECD), many formerly third world countries are entering into the arena of developing nations. Question 43 The Foreign-Trade Zones (FTZ) program alleviates some of the costs 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&retur… 10/16 Selected Answer: True associated with free trade in the rapidly increasing global economic environment. Question 44 Selected Answer: False Ownership risk is dened as the risk of loss resulting from inadequate or failed internal process, people and systems or from external events. Question 45 Selected Answer: True Governments use quotas, also known as quantitative restrictions, to limit the quantity of imports allowed into a nation. Question 46 Selected Answer: True Transfer risk occurs when debtors in a country are unable to ensure timely payments of foreign currency debt service. Question 47 Selected Answer: False A trade decit occurs when a country is exporting more than it is importing. Question 48 Selected Answer: (_________) are the main beneciaries of trade, which also makes them the primary victim of (_________). Consumers; embargos 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&retur… 11/16 Question 49 Selected Answer: False Governments design quotas to raise revenues and to generally provide a competitive advantage for domestic businesses. Question 50 Selected Answer: True The Berne Convention provides a minimum protection of property rights that are independent of the nation in which the work originated. Question 51 Selected Answer: A market economy is also known as a (____________), which is an economic system where the production and distribution of goods and services takes place through the mechanism of free markets. free-market economy Question 52 Selected Answer: (________) prohibits the producer of the product from improving the quality of the product during the waiting period. Administrative delays Question 53 Selected Answer: (_________) protect individuals who are in the process of creating a new invention. Patents 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&retur… 12/16 Question 54 Selected Answer: True Due to the numerous religions in the world, (e.g.such as Christianity, Islam, Buddhism, and Hinduism), nations nd diculty coming to agreements over theocratic laws. Question 55 Selected Answer: (_________) protect the rights of authors in regards to literary and artistic works. Copyrights Question 56 Selected Answer: (______________) is any worldwide factor outside the laws of supply and demand that could impact the success or failure of any venture moving into the international arena. Global business risk Question 57 Selected Answer: False Comparative Advantage Theory assumes that the (1) factors of production are immobile, (2) goods are mobile, and (3) technology is stable and ubiquitous. Question 58 In Porter’s Diamond, the relationship between the three determinants or Diamond (see gure on next page 10) model a nation’s competitive environment for an industry. 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 0 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&retur… 13/16 Selected Answer: True Question 59 Selected Answer: False Negative net income from abroad corresponds to a credit in the current account. Question 60 Selected Answer: In the event that the nancial objective of a foreign direct investment is not to gain a measure of managerial control, the investment is considered “(_________) investment.” portfolio Question 61 Selected Answer: False Business managers consider a portfolio of investments in the eort to secure entry into nations with large markets for their goods and services. Question 62 Selected Answer: Foreign Direct Investment can also take place by injecting (_______) dollars into the economy of a given country. Marketing Question 63 The task of managing the balance of payments is primarily concerned with maintaining the (___________) and (___________) owed to any nation for any commodity or currency that can be tracked. 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&retur… 14/16 Selected Answer: Surplus; decits Question 64 Selected Answer: The (______________) supports the idea that the result of each nation specializing where they have a (___________) is a total gain in output from the same labor inputs. Comparative Advantage Theory; comparative advantage Question 65 Selected Answer: True Ownership in foreign entities can be a complete or a controlling stake in the form of either a wholly owned subsidiary or through mergers and acquisitions of existing corporations. Question 66 Selected Answer: The (_______________) theory asserts that nations that vigorously pursue the quick development of economies of scale in a given export may gain comparative advantage in that export. New Trade Theory Question 67 Selected Answer: True Fidelicomiso is a duciary trust where the owners cannot be foreigners and must own the property through a corporation that is formed in Mexico. Question 68 Recent (_______) industry growth reports highlight that the (_______) industry 2 out of 2 points 2 out of 2 points 2 out of 2 points 0 out of 2 points 0 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&retur… 15/16 Selected Answer: is growing at roughly three times the rate of the rest of the private sector. Restaurant Question 69 Selected Answer: A primary indicator of a nation’s status, in terms of international trade, is its (________). Balance of payments Question 70 Selected Answer: True A trade decit will be generated if the imports outweigh the exports. Question 71 Selected Answer: If the goal is complete ownership in a foreign entity, the next business decision is to (___________). Make or buy Question 72 Selected Answer: True In the case of “buy,” the investing corporation will seek an existing corporation in the target industry or market as a candidate for merger or acquisition. Question 73 (___________) income from abroad corresponds to a debit in the current account. 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 2 out of 2 points 9/22/2018 Review Test Submission: Test 1 – 201840 Fall 2018 BUSI … https://learn.liberty.edu/webapps/assessment/review/review.jsp?attempt_id=_60432058_1&course_id=_442956_1&content_id=_24349569_1&retur… 16/16 Friday, September 21, 2018 7:54:03 PM EDT Selected Answer: Negative Question 74 Selected Answer: Nations use (______________) as a means of controlling foreign direct investment. Protectionism Question 75 Selected Answer: A guiding principle of the ideal global trading system is (___________) between trading partners, when partners do not prefer domestic products, services, people, or the products of their trading partners over others. Equality ← OK 2 out of 2 points 2 out of 2 points
