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1、Chapter1The shift toward a more integrated and interdependent world economy is referred to asa) economic integrationb) economic interdependencyc) globalizationd) internationalizationThe merging of historically distinct and separate national markets into one huge global marketplace is known asa) glob
2、al market facilitationb) cross-border tradec) supranational market integrationd) the globalization of marketsFirms that are involved in international business tend to bea) largeb) smallc) medium-sizedd) large, small, and medium-sizedWhich is not a factor of production?a) tradeb) landc) capitald) ene
3、rgyThe sourcing of good and services from around the world to take advantage of national differences in the cost and quality of factors of production is calleda) economies of scaleb) the globalization of productionc) global integrationd) global sourcingWhich organization is responsible for policing
4、the world trading system?a) the International Monetary Fundb) the United Nationsc) the World Trade Organizationd) the World BankWhat is the single most important innovation to the globalization of markets and production?a) advances in transportation technologyb) the development of the microprocessor
5、c) advances in communicationd) the InternetWhich of the following trends is true?a) the United States is accounting for a greater percentage of world trade than ever beforeb) the United States is accounting for a greater percentage of foreign direct investment than ever beforec) the share of world t
6、rade accounted for by developing countries is risingd) the share of foreign direct investment by developing countries is decliningWhich of these is not a concern of anti-globalization protesters?a) globalization raises consumer incomeb) globalization contributes to environmental degradationc) global
7、ization is causing a loss of manufacturing jobs in developing countriesd) globalization implies a loss of national sovereigntychapter2A political system that stresses the primacy of collective goals over individual goals is called a) individualismb) collectivismc) a democracyd) a market economy_ bel
8、ieve (s) that socialism can only be achieved through violent revolution and totalitarian dictatorship.a) communistsb) social democratsc) social republicansd) Plato A form of government in which one person or political party exercises complete control over all spheres of human life and prohibits oppo
9、sing political parties is a) a democracyb) a representative democracyc) totalitarianismd) socialism _ is found in states where political power is monopolized by a party according to religious principles.a) tribal totalitarianismb) right-wing totalitarianismc) theocratic totalitarianismd) communist t
10、otalitarianism In which type of economic system are all productive activities privately owned?a) a mixed economyb) a command economyc) a representative economyd) a market economy Which type of law is based on tradition, precedent, and custom?a) civil lawb) common lawc) theocratic lawd) contract law
11、Which country among the four is the most corrupt?a) Indiab) Indonesiac) Italyd) BrazilDesign and names by which merchants or manufacturers designate and differentiate their products are calleda) trademarksb) copyrightsc) patentsd) name brands chapter3Which is not a primary determinant of a nations r
12、ate of economic development?a) its political systemb) its economic systemc) its geographyd) its currencychapter5Which is not an area where multinational firms are concerned about ethics? a) Human rightsb) Trade regulationsc) Environmental regulationsd) CorruptionAll of the following except _ contrib
13、ute to unethical behavior by international managers.a) Decision-making processesb) Leadershipc) Personal ethicsd) National cultureAccording to _, a companys home-country standards of ethics are the appropriate ones to follow in foreign countries.a) the righteous moralistb) the nave immoralistc) the
14、Friedman doctrined) cultural relativism _ recognize that human beings have fundamental rights and privileges which transcend national boundaries and cultures. a) Kantian ethicsb) Utilitarian approachesc) Straw mend) Rights theoriesThe _ suggests that everyone is imagined to be ignorant of all his or
15、 her particular characteristics.a) tragedy of the commonsb) veil of ignorancec) code of ethicsd) the Universal Declaration of Human RightsWhat is a companys formal statement of ethical priorities called? a) Mission statement b) Code of ethics c) Code of values d) Organizational culturechapter6All of
16、 the following theories advocated free trade excepta) Mercantilismb) Comparative Advantagec) Absolute Advantaged) Hecksher-OhlinWhich theory suggested that comparative advantage arises from differences in national factor endowments?a) mercantilismb) absolute advantagec) Heckscher-ohlind) comparative
17、 advantage Which theory suggests that as products mature the optimal production location will change? a) Mercantilism b) Comparative Advantage c) Absolute Advantage d) Product life-cycleEconomies of scale and first mover advantages are important to which trade theory?a) Mercantilismb) Product life c
18、yclec) New trade theoryd) Comparative advantage Porters diamond of competitive advantage includes all of the following except a) Factor endowments b) Demand conditions c) First-mover advantages d) Firm strategy, structure, and rivalry _ refer to the nature of home demand for the industrys product or
19、 service. a) Demand conditions b) Factor endowments c) Firm strategy, structure, and rivalry d) Related and supporting industries chapter7When tariffs are levied as a fixed charge for each unit of a good imported, they are calleda) Specific tariffsb) Ad valorem tariffsc) Tariff rate quotasd) Transit
20、 tariffs A _ demands that some specific fraction of a good be produced domesticallya) subsidyb) quota rentc) voluntary export requirementd) local content requirementWhich of the following is not a political argument for government intervention?a) protecting jobsb) protecting infant industriesc) prot
21、ecting industries deemed important for national securityd) protecting consumers from “dangerous” productsWhat is the most common political reason for trade barriers? a) To protect infant industries b) Strategic trade policyc) To protect jobsd) To protect industries that are important for national se
22、curityWhich theory suggests that in cases where there may be important first mover advantages, governments can help firms from their countries attain these advantages?a) The infant industry argumentb) Strategic trade theory c) Comparative advantage theoryd) The Leontief paradoxAll of the following e
23、xcept _ are key issues on the table at the Doha Round. a) Anti-dumping policies b) Protectionism in agriculture c) Intellectual property rights d) Infant industry protection chapter8The establishment of a wholly new operation in a foreign country is calledA) an acquisitionB) a mergerC) a greenfield
24、investmentD) a multinational venture The amount of FDI undertaken over a given time period is known asA) the flow of FDIB) the stock of FDIC) FDI outflowD) FDI inflow Most FDI is direct towarda) developed countriesb) emerging economiesc) the United Statesd) ChinaAdvantages that arise from using reso
25、urce endowments or assets that are tied to a particular location and that a firm finds valuable to combine with its own unique assets are a) First mover advantages b) Location advantages c) Externalities d) Proprietary advantagesBenefits of FDI include all of the following except a) The resource tra
26、nsfer effect b) The employment effect c) The balance of payments effect d) National sovereignty and autonomyWhich of the following is not a cost of outward FDI for host countries?a) the initial capital outflow required to finance the FDIb) when FDI is a substitute for direct exportsc) gains from lea
27、rning valuable skills from foreign markets d) the effect on employment is FDI is a substitute for domestic production chapter9All barriers to the free flow of goods and services between member countries are removed, and a common policy toward nonmembers is established in a a) Free trade area b) Cust
28、oms union c) Common market d) Economic unionNAFTA is an example of a(n) a) Free trade area b) Customs union c) Common market d) Economic unionWhen higher cost suppliers within the free trade area replace lower cost external suppliersa) The bloc as a whole benefitsb) There is trade creationc) There i
29、s trade diversiond) External suppliers benefit_ is the ultimate decision making body of the European Union. a) Council of the European Union b) European Parliament c) Court of Justice d) European Commission_ is responsible for proposing EU legislation. a) Council of the European Union b) European Pa
30、rliament c) Court of Justice d) European CommissionWhich of the following is not true of NAFTA?a) It created a free trade area of nearly 800 million peopleb) It created the background for increased political stability in Mexicoc) Several other Latin American countries have indicated their desire to
31、eventually join NAFTA d) Its participants are the United States, Canada, and Mexicochapter10The _ is the rate at which one currency is converted into another. a) Exchange rate b) Cross rate c) Conversion rate d) Foreign exchange marketThe _ is the rate at which a foreign exchange dealer converts one
32、 currency into another currency on a particular day. a) Currency swap rate b) Forward rate c) Specific rate d) Spot rateWhich of the following does not impact future exchange rate movements? a) A countrys price inflation b) A countrys interest rate c) A countrys arbitrage opportunities d) Market psy
33、chologyWhen a government of a country allows both residents and non-residents to purchase unlimited amounts of foreign currency with the domestic currency, the currency isa) Nonconvertibleb) Freely convertiblec) Externally convertibled) Internally convertibleThe extent to which a firms future intern
34、ational earning power is affected by changes in exchange rates is called a) Accounting exposureb) Translation exposurec) Transaction exposured) Economic exposureFirms that want to minimize transaction and translation exposure can do all of the following excepta) buy forwardb) have central control of
35、 exposurec) use swapsd) lead and lag payables and receivableschapter11A _ exchange rate system exists when the foreign exchange market determines the relative value of a currency. a) Fixed b) Floating c) Pegged d) MarketWhat type of exchange rates system was the gold standard? a) Fixed b) Floating c
36、) Pegged d) MarketWhich agreement deemed floating exchange rates to be acceptable? a) The Bretton Woods Agreement b) The Gold Standard c) The Jamaica Agreement d) The Louvre AccordWhich type of exchange rate system do most IMF countries follow today? a) Free float b) Managed float c) Fixed peg d) Ad
37、justable peg A _ is a situation in which a country cannot service its foreign debt obligations, whether private sector or government debt.a) currency crisisb) banking crisisc) foreign debt crisisd) foreign exchange crisis Managers need to understand the implications of changing exchange rates from a
38、ll of the following perspectives exceptA) corporate-governance relationsB) business strategyC) foreign relationsD) currency managementChapter12Which of the following are market makers?a) commercial banksb) pension funds c) insurance companiesd) governmentsCompared to developed nations, less develope
39、d nations have a) smaller capital marketsb) more investment opportunitiesc) similar costs of capitald) greater liquidityWhich of the following is not true of global capital markets a) they benefit borrowersb) they benefit sellersc) they raise the cost of capitald) they provide a wider range of inves
40、tment opportunitiesIn 2006, the stock of cross-border bank loans was about a) $3,600b) $7,800c) $17,800d) $33,600 Historically, the most tightly regulated industry has beena) agricultureb) consumer electronics c) automotivesd) financial services The term eurocurrency refers to a) the currency used b
41、y the European Union countriesb) any currency banked outside its country of originc) currencies purchased in the international equities marketd) bonds sold outside the borrowers country that are denominated in the currency of the country in which they are issued chapter13What is the rate of return t
42、he firm makes on its invested capital?a) Profit growthb) Profitabilityc) Net returnd) Value createdWhich of the following is not an example of a primary activity? a) Logistics b) Marketing and sales c) Customer service d) ProductionWhat is created when different stages of a value chain are dispersed
43、 to locations where value added is maximized or where the costs of value creation are minimized? a) Experience effects b) Learning effects c) Economies of scale d) A global webWhich of the following is not a pressure for local responsiveness? a) Excess capacity b) Host government demands c) Differen
44、ces in consumer tastes and preferences d) Differences in distribution channelsWhich strategy tries to simultaneously achieve low costs through location economies, economies of scale, and learning effects, and differentiate the product offering across geographic markets to account for local differenc
45、es?a) Internationalizationb) Localizationc) Global standardizationd) TransnationalWhich strategy makes sense when pressures are high for local responsiveness, but low for cost reductions? a) Global standardization strategy b) International strategy c) Transnational strategy d) Localization strategyc
46、hapter14The norms and value systems that are shared among the employees of an organization are calleda) processesb) organizational culturec) control systemsd) incentivesWhich of the following is not an advantage of centralized decision-making?a) It facilitates coordinationb) It motivates employeesc) It gives top-level managers the means to bring about organizational changed) It avoids duplication of activities Most firms