Question 1. Question : <\/p>\n
The sale of government-owned economic resources to private operators is called ________.<\/p>\n
the price mechanism<\/p>\n
laissez-faire economics<\/p>\n
privatization<\/p>\n
guanxi<\/p>\n
Question 2. Question : <\/p>\n
In most failed centrally planned economies ________.<\/p>\n
market conditions helped determine who produced various goods<\/p>\n
prices of products were a function of supply and demand<\/p>\n
central planning agencies specified production goals and decided prices<\/p>\n
central planners paid attention to efficiency improvement<\/p>\n
Question 3. Question : <\/p>\n
The practice of mercantilism rested upon each of the following except ________.<\/p>\n
enhanced trade deficits<\/p>\n
government intervention<\/p>\n
colonialism<\/p>\n
trade surpluses<\/p>\n
Question 4. Question : <\/p>\n
Who proposed the theory of absolute advantage?<\/p>\n
David Ricardo<\/p>\n
Adam Smith<\/p>\n
Bertil Ohlin<\/p>\n
Raymond Vernon<\/p>\n
Question 5. Question : <\/p>\n
Comparative advantage theory focuses on which of the following?<\/p>\n
Maximization of production and consumption<\/p>\n
Logistics planning<\/p>\n
Resource assessment<\/p>\n
Creation of trade surpluses<\/p>\n
Question 6. Question : <\/p>\n
The focus of factor proportions theory is on the ________.<\/p>\n
productivity of the production process<\/p>\n
cost-effectiveness of the production process<\/p>\n
use of abundant production factors<\/p>\n
use of expensive production factors<\/p>\n
Question 7. Question : <\/p>\n
Which element of national competitive advantage theory divides resources into two groups, basic and advanced?<\/p>\n
Demand conditions<\/p>\n
Factor conditions<\/p>\n
Related and supporting industries<\/p>\n
Firm, strategy, structure, and rivalry<\/p>\n
Question 8. Question : <\/p>\n
Which of the following is not a problem associated with the infant industry argument?<\/p>\n
It can cause domestic companies to become overly innovative.<\/p>\n
Once protection of an industry is given, it can be politically difficult to eliminate.<\/p>\n
Protection can do more economic harm than good.<\/p>\n
Governments might have difficulty identifying the industries worth protecting.<\/p>\n
Question 9. Question : <\/p>\n
Which of the following is not an example of an instrument that government uses to promote trade?<\/p>\n
Tariffs<\/p>\n
Subsidies<\/p>\n
Export financing<\/p>\n
Foreign trade zones<\/p>\n
Question 10. Question : <\/p>\n
Which of the following adds to the cost of an imported product by levying an additional tax upon it?<\/p>\n
Tariffs<\/p>\n
Quotas<\/p>\n
Local content requirements<\/p>\n
Embargoes<\/p>\n
Question 11. Question : <\/p>\n
The ________ altered U.S. trade policy from a stance of free trade to one of protectionism.<\/p>\n
General Agreement on Trade and Tariffs<\/p>\n
Multi-Fibre Arrangement<\/p>\n
Normalized Trade Relations Act<\/p>\n
Smoot-Hawley Act<\/p>\n
Question 12. Question : <\/p>\n
Which of the following are main drivers of foreign direct investment?<\/p>\n
Diversity and telecommunications<\/p>\n
Telecommunications and transportation<\/p>\n
Globalization and mergers and acquisitions (M&A)<\/p>\n
Diversity and globalization<\/p>\n
Question 13. Question : <\/p>\n
A market that is said to operate at peak efficiency and where goods are readily and easily available is said to be a(n) ________.<\/p>\n
perfect market<\/p>\n
eclectic market<\/p>\n
imperfect market<\/p>\n
greenfield market<\/p>\n
Question 14. Question : <\/p>\n
The main difference between a free-trade area and a customs union is that the members of a customs union ________.<\/p>\n
agree to treat trade with all nonmember nations in a similar manner<\/p>\n
agree to the free movement of all factors of production<\/p>\n
harmonize their tax, monetary, and fiscal policies and create a common currency<\/p>\n
accept a common stance on economic and political policies regarding nonmember nations<\/p>\n
Question 15. Question : <\/p>\n
The strategy formulation process involves both ________.<\/p>\n
planning and strategy<\/p>\n
strategy and structure<\/p>\n
planning and marketing<\/p>\n
strategy and production<\/p>\n
Question 16. Question : <\/p>\n
Which of these strategies are appropriate for companies in industries where buyer preferences do not converge across national borders?<\/p>\n
Retrenchment<\/p>\n
Global<\/p>\n
Multinational<\/p>\n
Stability<\/p>\n
Question 17. Question : <\/p>\n
A ________ strategy can cause a company to overlook important differences in buyer preferences from one market to another.<\/p>\n
global<\/p>\n
retrenchment<\/p>\n
multidomestic<\/p>\n
multinational<\/p>\n
Question 18. Question : <\/p>\n
Collection and analysis of information used to assist managers in making informed decisions is known as ________.<\/p>\n
data collection<\/p>\n
market research<\/p>\n
secondary market research<\/p>\n
market analysis<\/p>\n
Question 19. Question : <\/p>\n
Which of the following is not a difficulty associated with conducting international market research?<\/p>\n
Availability of data<\/p>\n
Comparability of data<\/p>\n
Cultural differences<\/p>\n
Economic differences<\/p>\n
Question 20. Question : <\/p>\n
The process of obtaining information that already exists within the company or that can be obtained from outside sources is called ________.<\/p>\n
secondary market research<\/p>\n
logistics management<\/p>\n
primary market research<\/p>\n
invalid market research<\/p>\n
Question 21. Question : <\/p>\n
When an exporter ships merchandise and later bills the importer for its value, it is using a(n) ________ type of export\/import financing.<\/p>\n
advance payment<\/p>\n
open account<\/p>\n
letter of credit<\/p>\n
documentary collection<\/p>\n
Question 22. Question : <\/p>\n
Which of the following is not a form of investment entry?<\/p>\n
Strategic alliance<\/p>\n
Wholly owned subsidiary<\/p>\n
Joint venture<\/p>\n
Turnkey project<\/p>\n
Question 23. Question : <\/p>\n
Brand names are central to a product’s ________.<\/p>\n
personality<\/p>\n
raw materials<\/p>\n
reproducibility<\/p>\n
inventory planning<\/p>\n
Question 24. Question : <\/p>\n
Countries that top the list for the portion of their markets comprised of counterfeits include each of the following except ________.<\/p>\n
China<\/p>\n
India<\/p>\n
Russia<\/p>\n
United Kingdom<\/p>\n
Question 25. Question : <\/p>\n
Which of the following is a promotional strategy designed to pressure channel members to carry a product and promote it to final users?<\/p>\n
Pull strategy<\/p>\n
Adaptive channel strategy<\/p>\n
Push strategy<\/p>\n
End distribution strategy<\/p>\n
Question 26. Question : <\/p>\n
Examples of pull strategies include each of the following except ________.<\/p>\n
mass media advertising<\/p>\n
direct marketing techniques<\/p>\n
free trial packages<\/p>\n
encouraging good retail visibility<\/p>\n
Question 27. Question : <\/p>\n
The physical path a product follows on its way to customers is called a ________.<\/p>\n
distribution channel<\/p>\n
promotional mix path<\/p>\n
value density<\/p>\n
just-in-time path<\/p>\n
Question 28. Question : <\/p>\n
The process of assessing a company’s ability to produce enough output to satisfy market demand is called ________.<\/p>\n
location economics<\/p>\n
capacity planning<\/p>\n
process planning<\/p>\n
facilities layout planning<\/p>\n
Question 29. Question : <\/p>\n
The psychological process of readapting to one’s home culture is called ________.<\/p>\n
culture shock<\/p>\n
reverse recruitment<\/p>\n
reverse culture shock<\/p>\n
expatriate failure<\/p>\n
Points Received: 0 of 1<\/p>\n
Question 30. Question : <\/p>\n
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?<\/p>\n
Just-in-time manufacturing processes<\/p>\n
Japanese manufacturing precision<\/p>\n
German auto technology<\/p>\n
Location economies<\/p>\n","protected":false},"excerpt":{"rendered":"
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