Quiz 2
1. Question
:
Which of the following is the main goal of privatization?
Reduce responsibility and accountability
Increase economic efficiency
Increase subsidies to companies
Slow economic growth
Question 2. Question
:
In most failed centrally planned economies ________.
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: 0 of 1
Question 3. Question
:
The trade theory that nations should accumulate financial
wealth, usually in the form of gold, by encouraging exports and discouraging
imports is called ________.
absolute advantage
mercantilism
comparative advantage
factor proportions theory
Question 4. Question
:
The theory of absolute advantage measures a nation’s wealth
by determining the ________.
gold it has on reserve
silver it has on reserve
cash it has on reserve
living standards of its people
Points Received: 0 of 1
Question 5. Question
:
Which of the following is not a limitation of the absolute
and comparative advantage theories?
The theories assume that there are only two
countries engaged in the production and consumption of just two goods.
The theories assume that there are no costs
for transporting traded goods from one country to another.
The theories consider labor the only resource
used in the production process.
The theories assume that specialization in the
production of one particular good results in gains in efficiency.
Question 6. Question
:
Factor proportions theory was developed by ________.
Smith and Ricardo
Ricardo and Ohlin
Hecksher and Ohlin
Hecksher and Smith
Points Received: 0 of 1
Question 7. Question
:
Which element of national competitive advantage theory
divides resources into two groups, basic and advanced?
Demand conditions
Factor conditions
Related and supporting industries
Firm, strategy, structure, and rivalry
Question 8. Question
:
The ________ argument says that a country’s emerging
industries need protection from international competition during their
development.
national security
infant industry
strategic trade policy
GATT treaty
Question 9. Question
:
Which of the following is not an example of an instrument
that government uses to promote trade?
Tariffs
Subsidies
Export financing
Foreign trade zones
Question 10. Question
:
Which of the following adds to the cost of an imported
product by levying an additional tax upon it?
Tariffs
Quotas
Local content requirements
Embargoes
Question 11. Question
:
An additional tariff placed on an imported product that a
nation believes is receiving an unfair subsidy is called a(n) ________.
countervailing duty
ad valorem duty
dumping duty
compounded tariff
Points Received: 0 of 1
Question 12. Question
:
Which of the following are main drivers of foreign direct
investment?
Diversity and telecommunications
Telecommunications and transportation
Globalization and mergers and acquisitions
(M&A)
Diversity and globalization
Question 13. Question
:
A market that is said to operate at peak efficiency and
where goods are readily and easily available is said to be a(n) ________.
perfect market
eclectic market
imperfect market
greenfield market
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) ________.
economic union
customs union
common market
free trade area
Points Received: 0 of 1
Question 15. Question
:
The strategy formulation process involves both ________.
planning and strategy
strategy and structure
planning and marketing
strategy and production
Question 16. Question
:
Which of these strategies are appropriate for companies in
industries where buyer preferences do not converge across national borders?
Retrenchment
Global
Multinational
Stability
Question 17. Question
:
A ________ strategy can cause a company to overlook
important differences in buyer preferences from one market to another.
global
retrenchment
multidomestic
multinational
Points Received: 0 of 1
Question 18. Question
:
Assessing how culture affects the national business
environment is part of the ________ stage of the screening process for
potential markets and sites.
first
second
third
fourth
Points Received: 0 of 1
Question 19. Question
:
Which of the following is not a difficulty associated with
conducting international market research?
Availability of data
Comparability of data
Cultural differences
Economic differences
Question 20. Question
:
Secondary data is ________ because it has already been
collected, analyzed, and summarized by another party.
inaccurate
relatively inexpensive
unreliable
very expensive
Question 21. Question
:
Letters of credit are popular among traders because most of
the risks are assumed by ________.
countertraders
importers
exporters
banks
Question 22. Question
:
Which of the following is not a form of investment entry?
Strategic alliance
Wholly owned subsidiary
Joint venture
Turnkey project
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?
Product description
Image tag
Brand name
Unique descriptor
Question 24. Question
:
Which of the following is not an example of a product that
is commonly counterfeited?
Perfume
Books
Clothing
Watches
Question 25. Question
:
A promotion mix is composed of all of the following except
________.
personal selling
advertising
public relations
indirect exporting
Question 26. Question
:
Examples of pull strategies include each of the following
except ________.
mass media advertising
direct marketing techniques
free trial packages
encouraging good retail visibility
Question 27. Question
:
Companies along a distribution channel that work together in
delivering products to customers are called ________.
arbitrageurs
intermediaries
solicitors
reduction planners
Question 28. Question
:
________ refers to the process of selecting the location for
production facilities.
Capacity planning
Facilities layout planning
Facilities location planning
Production location planning
Question 29. Question
:
The psychological process of readapting to one’s home
culture is called ________.
culture shock
reverse recruitment
reverse culture shock
expatriate failure
Question 30. Question
:
The senior manager recommends that Hafstrom obtain auto
parts from a country where production activity generates more value than it
could generate elsewhere. He is recommending taking advantage of which of the
following?
Just-in-time manufacturing processes
Japanese manufacturing precision
German auto technology
Location economies
