Which of the Following is Not One of the Primary Criticisms of Globalization?

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Swedish safety requirements for machinery operators

 

SKU: Buss004909

PART-A

1.The economic cooperation of the EU is most accurately described as a

A.customs union.

B.complete economic integration.

C.common market.

D.free trade area.

 

2.Treasury and Central Bank representatives met in _______ at the end of World War II and established the IMF, the World Bank, and the gold exchange standard.

A.Jamaica

B.Diekirch

C.Bretton Woods

D.Berlin

 

3.The United Nations organ involved in trade development, education, and health issues is the

A.General Assembly.

B.Economic and Social Council.

C.Secretariat.

D.Security Council.

 

4.In 2010, only 23 nations had GNIs greater than

A.Walmart’s total annual sales.

B.the sum of the GNIs of Japan, Germany, and France.

C.the total sales of Exxon Mobil and Citigroup.

D.the sum of the combined sales of Ford and General Electric.

 

5.A/An _______ is all forces influencing the life and development of the firm.

A.local population

B.foreign exchange

C.group pool

D.environment

 

6.The main drivers of globalisation depend on

A.the foreign environment.

B.domestic growth.

C.change.

D.cultural differences.

 

7.According to its advocates, one of the advantages of the gold standard is that it provides

A.discipline.

B.specie.

C.flexibility.

D.monetary security.

 

8.Decision making in the international environment is _______ in a purely domestic environment.

A.more complex than

B.less demanding than

C.less complex than

D.about the same as

 

9.An import duty that’s a fixed percentage of the invoice value of an imported product is called a/an _______ duty.

A.invoice

B.compound

C.ad Valorem

D.specific

 

10.Which of the following is not one of the primary criticisms of globalisation?

A.It’s increased the number of children in the work force.

B.It’s had deleterious effects on labour and labour standards.

C.It’s contributed to a decline in environmental and health conditions.

D.It’s produced uneven results across nations and peoples.

 

11.When market demand and supply regulate the exchange rate with intervention designed to moderate the rate of change, it’s called a/an

A.market method.

B.independent float.

C.crawling peg.

D.fixed peg.

 

12.The _______, a collaboration of nations pooling money to lend to countries in debt, is associated with the United Nations.

A.IMF

B.GATT

C.IBRD

D.OECD

 

13.The organisation established along with the IMF at the Bretton Woods meeting is the

A.Bank for International Settlements.

B.International Monetary Fund.

C.United Nations.

D.World Bank.

 

14.When countries benefit from importing products requiring large amounts of their scarce production factors and export products requiring large amounts of their abundant production factors, they’re exemplifying

A.the theory of factor endowment.

B.the Leontief paradox.

C.absolute advantage.

D.comparative advantage.

 

15.The Association of Southeast Asian Nations was formed to provide members with a

A.way to join with China as a political force.

B.common market.

C.free trade area.

D.plan for mutual protection and peaceful relations.

 

16.Mercantilists believed that nations should

A.import goods to raise the standard of living.

B.lower import duties to establish a level playing field.

C.produce goods for which there’s a comparative advantage.

D.allow an export surplus so they can accumulate gold.

 

17._______ is an agreement among the countries that make up North America.

A.NAFTA

B.WTO

C.EU

D.OECD

 

18.The increased internationalisation of business requires _______ to have a basic knowledge of international business.

A.managers of transnationals

B.managers of purely domestic operations

C.all managers

D.managers of multinationals

 

19.The IMF established the _______ as the principal reserve asset in the international monetary system.

A.special drawing right

B.capital account

C.BOP account

D.gold standard

 

20.An evaluation of a country’s economic and political risks made by a bank or potential investor is called a/an

A.stability appraisal.

B.international credit score.

C.country risk assessment.

D.benchmark.

 

PART-B

1.Generally, because of higher birth and fertility rates, developing countries have more _______ populations than industrial countries.

A.unhealthy

B.youthful

C.healthy

D.mature

 

2.ICs pay _______ when the host-country taxes are higher than home-country taxes.

A.tax disincentives

B.bonuses

C.housing allowances

D.tax differentials

 

3.Payments made to expatriates to compensate for extra costs of living abroad are called

A.bonuses.

B.allowances.

C.premiums.

D.differentials.

 

4.The two components of material culture are technology and

A.aesthetics.

B.purchasing.

C.economics.

D.materials.

 

5.Hiring and promoting employees on the basis of the specific local context in which the subsidiary operates refers to a/an _______ orientation.

A.polycentric

B.ethnocentric

C.geocentric

D.regiocentric

 

6.After Saudi Arabia, the country with the greatest heavy oil reserves is

A.Canada.

B.Iraq.

C.Iran.

D.Venezuela.

 

7.The two types of market screening procedures are

A.market indicators and market factors.

B.trend analysis and cluster analysis.

C.country screening and segment screening.

D.initial screening and secondary screening.

 

8.Most anthropologists’ theories of culture include the proposal that

A.the beliefs, rules, and institutions of most cultures are nearly indistinguishable from each other.

B.each aspect of a culture develops because of a specific, often isolated need.

C.regional variations on culture are partially due to genetic differences.

D.culture defines the boundaries of different groups.

 

9.The organisation within the Japanese government deemed the most benign is the

A.Fair Trade Commission.

B.Tariff and Taxation Bureau.

C.Justice Department.

D.Maritime Commission.

 

10.Using a/an _______ staffing policy, selection of the best person for each job is done without considering national origin.

A.regiocentric

B.ethnocentric

C.geocentric

D.polycentric

 

11.Laws designed to prevent price fixing, market sharing, and business monopolies are called

A.fair trade regulations.

B.purchasing power parity (PPP).

C.antitrust laws.

D.consensus policies.

 

12.As multinationals take a/an _______ view, we’re certain to see greater use of third-country nationals.

A.fragmentary

B.geocentric

C.particularistic

D.ethnocentric

 

13.Only the continent of _______ lacks inland waterways.

A.Australia

B.South America

C.Asia

D.North America

 

14.A commitment to actions that meet present needs without compromising the ecological, social, and economic needs of future generations characterises

A.ethnocentricity.

B.socialism.

C.environmental sustainability.

D.economic stability.

 

15.Matters involved in a contract between businesses in two different countries are resolved through

A.OECD intervention.

B.bilateral treaties.

C.private international law.

D.public international law.

 

16.Only _______ percent of ICs have repatriation programs.

A.60

B.49

C.5

D.10

 

17.The risk of punitive damages in product liability cases has caused

A.foreign companies to withhold potentially beneficial products from the U.S. market.

B.consumers to demand that cases be heard by a judge rather than a jury.

C.little change on research or new products.

D.U.S. companies to increase research to find safer products.

 

18.Market screening is derived from

A.current market trends.

B.environmental scanning.

C.local sociocultural forces.

D.global opportunities and threats.

 

19.For an area to be a potential market, there must be

A.low duties against imports.

B.a large population.

C.limited or no competition.

D.sufficient people with the means to buy the firm’s products.

 

20.A/An _______ is a large exhibition where companies maintain booths to promote product sales.

A.trade fair

B.cost-benefit analysis

C.interview

D.field trip

 

PART-C

1.Before opening a line of credit, buyers frequently ask for a/an _______ invoice.

A.pro se

B.pro rata

C.ante se

D.pro forma

 

2.Independent businesses that handle import shipments for compensation are called

A.foreign freight forwarders.

B.customhouse brokers.

C.commerce chambers.

D.bonded warehouse managers.

 

3.Organizational _______ is a process dealing with how a company should be organised for integration, efficiency, and effectiveness.

A.competitiveness

B.design

C.functions

D.division

 

4.A company in which each country’s division manager reports directly to the CEO is

A.divided by both product and function.

B.a matrix organisation.

C.organized by geographic regions.

D.a hybrid organisation.

 

5.The most well-known model for change that involved unfreezing, moving, and refreezing was developed by

A.Kurt Lewin.

B.Adam Smith.

C.Chad Henry.

D.John Kotter.

 

6.The Small Business Administration (SBA) provides _______ assistance.

A.educational and placement

B.product-search and product-support

C.business development and financial

D.market analysis and Web development

 

7.To effectively develop and implement an effective strategy, objectives should be

A.voluntary.

B.visible.

C.quantified.

D.eclectic.

 

8.A _______ strategy is often used where there’s a strong pressure to reduce costs and limited pressure to adapt products for local markets.

A.home replication

B.transnational

C.global

D.multidomestic

 

9.The term tactical plans refers to

A.detailed, short-term operational plans.

B.long-term strategies that address best-and-worst-case scenarios.

C.broad operational plans on which strategic plans are based.

D.scenarios presented as comprehensive future strategies.

 

10.The behaviours and processes that go along with organising people to achieve a common purpose are seen in

A.managers.

B.chairmen of the board.

C.line supervisors.

D.leaders.

 

11.A _______ is an arrangement under which a company provides managerial know-how in some or all functional areas to another party for a fee.

A.manufacturing contract

B.strategic alliance

C.joint venture

D.management contract

 

12.Which of the following means that goods are shipped to the buyer and payment isn’t made until they’ve been sold?

A.Cash in advance

B.Irrevocable letter of credit

C.Bank collection time draft

D.Consignment

 

13.By the end of 2010 Kraft Foods had become America’s

A.the largest U.S. employer overseas.

B.largest branded-food and beverage company with headquarters in North America.

C.the second-largest branded-food company headquartered in Brazil.

D.bigger than the Nestle Corporation.

 

14.To increase communication among executives and encourage confidence in each other, an IC’s policies may include

A.joining international business organisations.

B.transferring promising managers among headquarters and subsidiaries.

C.operating in many diverse foreign regions.

D.resolving disputes among subsidiaries through arbitration.

 

15.The next step after beginning direct exporting might be to set up

A.indirect exporting through an agent.

B.a franchise agreement in the area.

C.a sales company in the area.

D.a joint venture with an import agent.

 

16.One disadvantage of indirect exporting is that

A.licensing and red tape can delay completion of shipments.

B.large cash outlays are required.

C.the firm gains little experience from transactions.

D.it’s difficult to find the right agent for a firm’s product.

 

17.Residents of a country who represent various noncompeting foreign suppliers and take orders in those firms’ names are known as manufacturers’

A.agents.

B.traders.

C.retailers.

D.distributors.

 

18._______ places increasing emphasis on recruiting and developing human resources.

A.Marketing

B.Accounting

C.Globalization

D.Localization

 

19.The term for what people are doing when they put forth less effort while members of a group is

A.social loafing.

B.catatonia.

C.groupthink.

D.individualism.

 

20.The ConformitéEuropéen is a type of

A.consular invoice.

B.inspection certificate.

C.certificate or origin.

D.export license

 

PART-D

1._______ are responsible for a shift in power from manufacturers to retailers.

A.Foreign environmental forces

B.Internet advertisers

C.Private brands

D.Public brands

 

2.When a company’s future cash flow could be affected by unanticipated movement in monetary exchange rates, the company is experiencing

A.potential bankruptcy.

B.economic exposure.

C.translation exposure.

D.currency exposure.

 

3.The attitudes of governments toward transfer pricing is

A.encouragement.

B.indifference.

C.suspicion.

D.academic interest.

 

4.Of all the promotional mix elements, _______ may be the one with the greatest similarities worldwide.

A.sales promotion

B.advertising

C.personal selling

D.public relations

 

5._______ trade includes trade between a parent company and its foreign affiliates.

A.Intrafirm

B.Sans

C.Circuit

D.xtrafirm

 

6.Reasons for global standardization of manufacturing systems include

A.greater market adjustments.

B.producing significant cost savings.

C.increased nonstandardization of data among plants.

D.attractive complexities to draw new customers.

 

7.When companies report on environmental and social, as well as financial results, it’s called

A.global edge.

B.convergence.

C.parallel management.

D.triple bottom line.

 

8.The basic cultural decision a marketer has to make when placing a product in a foreign country is whether

A.to position the product as foreign or local.

B.the advertising for the product will be tasteful enough for the foreign audience.

C.social taboos are implied by the product’s name.

D.the product will be used by men or women.

 

9.Providing rapid service without a distribution structure in place is called

A.indirect outletting.

B.aibo.

C.floating distribution.

D.disintermediation.

 

10.The Sarbanes-Oxley Act was passed by Congress in response to

A.product liability lawsuits.

B.the Enron scandal.

C.a need to protect U.S. citizens from foreign laws.

D.an international demand for antitrust protection.

 

11.A middle ground between an ad campaign that’s standardized worldwide and an entirely local ad campaign is called a/an _______ approach.

A.programmed-management

B.hybrid advertising

C.shared-management

D.computerized-management

 

12.Applying a total systems approach to managing the flow of materials, information, finances, and services in a value chain is called

A.information and technology management.

B.supply chain management.

C.luxury brand development.

D.organizational realignment.

 

13.A group of decisions on strategy designed to satisfy customer needs in a particular market on what products to sell and promote is called a/an

A.marketing mix.

B.corporate objective.

C.market assessment.

D.advertising campaign.

 

14.Taking a position in one market to offset exposure to price changes in an opposite position is called

A.hedging.

B.consolidation.

C.diversification.

D.centralization.

 

15.Swedish safety requirements for machinery operators

A.are stricter than those imposed by the U.S. Occupational Safety and Health Act.

B.make imports of Swedish products popular in the U.S.

C.are difficult to pin down because they vary from one machine to another.

D.make exporting U.S. machines to Sweden very easy.

 

16.Including such items as maintenance, repair, operating supplies, office equipment, and other services and supplies, indirect procurement can account for as much as _______ percent of the total purchasing expenditures in companies.

A.50

B.80

C.70

D.25

 

17.A _______ tax is paid not by the person whose labor generates the income but by the business that makes the payment for the labor.

A.withholding

B.excise

C.money market

D.swap

 

18.Recruiting salespeople overseas can be difficult because

A.the fear of outsourcing.

B.of a society’s stigma associated with selling.

C.language differences.

D.foreign unfamiliarity with the product.

 

19.Hiring another company to handle what used to be handled in-house is called

A.subcontracting.

B.outsourcing.

C.operations.

D.contracting.

 

20.The benefits of offshore financial centers include

A.low taxes and few banking regulations.

B.fluctuating currency exchange rates.

C.high interest and low fees.

D.advantageous accounting practices.

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