BUSI 604 Test 1 – Answers Attempt Score 100 out of 100 points | University of Phoenix

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• Question 1 2 out of 2 points ( ), increasing market audience, receiving foreign direct investment are reasons international trade is important to the United States. Selected Answer... : Maximizing production and efficiency • Question 2 2 out of 2 points Embargoes are defined as the prohibition of commerce and trade with a certain nation. Selected Answer: Tru e • Question 3 2 out of 2 points Which of the following is not included in the set of shared categories that characterizes a culture? Selected Answer: motivati on • Question 4 2 out of 2 points Market factors are the ( ), ( ), and ( ) that vary from one region to another. Selected Answer: demographic, sociologic, and economic forces • Question 5 2 out of 2 points ( ) has emerged as a cost-leading manufacturer of products ranging from consumer goods to industrial equipment. Selected Answer: Chin a • Question 6 2 out of 2 points Foreign direct investment allows domestic firms to receive capital financing from foreign entities. Selected Answer: Tru e • Question 7 2 out of 2 points Opponents of globalization claim that globalization has led to widespread government corruption as indicated through the extensive use of ( ). Selected Answer: Briber y • Question 8 2 out of 2 points Africa was one of the oldest examples of an international trading community. Selected Answer: Fals e • Question 9 2 out of 2 points There is no notable difference in the way a nation conducts business versus the way a large corporation conducts business. Selected Answer: Fals e • Question 10 2 out of 2 points Economic health is considered ( ) when a country imports considerably more than it exports. Selected Answer: Negati ve • Question 11 The U.S. is home to some of the world’s leading hardware and software manufacturers. 2 out of 2 points Selected Answer: Tru e • Question 12 2 out of 2 points Production is efficient 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 profitable production of a given product. Selected Answer: Tru e • Question 13 2 out of 2 points Improvement in transportation, advances in communications technology, and trade-friendly legislation have all contributed to the desire to produce a seamless global economy. Selected Tru Answer: e • Question 14 ( ), ( ), and ( ) are considerable operational differences of global businesses from that of domestic businesses. 2 out of 2 points Selected Answer: All of the above • Question 15 2 out of 2 points The Industrial Revolution technically could be traced to the invention of the telephone and the telegraph in the late 1800s, it rose to the forefront in the early 1970s with the advent of the microprocessor. Selected Answer: Fals e • Question 16 ( ) are the characteristics that are unique to an individual’s learning experiences or character. 2 out of 2 points Selected Answer: Attribut es • Question 17 2 out of 2 points In 1866, the telegraph opened the first transatlantic communications channel to facilitate real-time communication over long distances. Selected Answer: Tru e • Question 18 2 out of 2 points The rank of the top five countries (largest to smallest) by GDP as of 2015 are as follows: United States, China, Germany, Japan, and United Kingdom. Selected Answer: Fals e • Question 19 0 out of 2 points Low context culture refers to societies or groups where people have close connections over a long period of time. Selected Answer: Tru e • Question 20 2 out of 2 points The ( ) provisions of the FCPA make it unlawful for a U.S. person, and certain foreign issuers of securities, to make a corrupt payment to a foreign official for the purpose of securing business with or directing business to any person. Selected Answer: Anti- bribery • Question 21 2 out of 2 points For Muslims, the ( ) is the word of God and the carrier of the revelation of ( ) who is the last and most perfect of God’s messengers to mankind. Selected Answer: Qur’an; Muhammad • Question 22 2 out of 2 points Judaism is a ( ) religion which believes that the world was created by a single, all-knowing divinity. Selected Answer: Monotheis tic • Question 23 When conducting international business, humor should be avoided. 2 out of 2 points Selected Answer: Tru e • Question 24 2 out of 2 points A high uncertainty avoidance ranking indicates that the country has a high tolerance for uncertainty and ambiguity. Selected Answer: Fals e • Question 25 2 out of 2 points In sequentialism, time moves forward, second by second, minute by minute, hour by hour, in a straight line. Selected Answer: Tru e • Question 26 2 out of 2 points 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. Selected Answer: Socially responsible • Question 27 2 out of 2 points ( ) exacerbate the misunderstandings that arise when trying to communicate a message. Selected Answer: Cross-cultural or cross-language barriers • Question 28 Values guide behavior and allow one to predict the behavior of others. 2 out of 2 points Selected Answer: Fals e • Question 29 2 out of 2 points In the ( ), Confucius revealed the step by step process by which one attains self- development and by which it flows over into the common life to serve the state and bless mankind. Selected Answer: “The Great Learning” • Question 30 2 out of 2 points Internalistic people see nature as a complex machine, and machines can be controlled if one has the right expertise. Selected Answer: Tru e • Question 31 2 out of 2 points A high power distance ranking indicates that inequalities of power and wealth are present within a society. Selected Answer: Tru e • Question 32 2 out of 2 points In a cultural context, a value would then be anything that a particular culture holds in high esteem. Selected Tru Answer: e • Question 33 Language affects communication in two ways: (1) ( ) and (2) ( ). 2 out of 2 points Selected Answer: Both of the above • Question 34 2 out of 2 points The dominant values in a masculine society are ( ) and ( ). Selected Answer: achievement and success • Question 35 2 out of 2 points Transparency International provides guidelines for organizations wishing to develop anticorruption programs. Selected Answer: Tru e • Question 36 2 out of 2 points A low individualism ranking typifies societies of a more collective nature with close ties between individuals. Selected Answer: Tru e • Question 37 2 out of 2 points Unlike most other religions Buddhism has no real founder, no written scriptures, no body of religious law, and a very loosely-organized priesthood. Selected Answer: Fals e • Question 38 2 out of 2 points Which of the following is one of the political issues that significantly impact global business: Selected Answer: All of the above • Question 39 2 out of 2 points Nations that lack adequate ( ) tend to experience hyper-inflation or depression. Selected Answer: Currency controls • Question 40 2 out of 2 points Ownership risk is defined as the risk of loss resulting from inadequate or failed internal process, people and systems or from external events. Selected Answer: Fals e • Question 41 2 out of 2 points ( ) 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. Selected Answer: Global business risk • Question 42 2 out of 2 points The following are the three categories of laws that govern the conducting of business within a nation's borders except for: Selected Answer: Econom ic • Question 43 ( ) protect individuals who are in the process of creating a new invention. 2 out of 2 points Selected Answer: Paten ts • Question 44 2 out of 2 points ( ) are the main beneficiaries of trade, which also makes them the primary victim of ( ). Selected Answer: Consumers; embargos • Question 45 Civil law nations view ( ) as the primary source of law. 2 out of 2 points Selected Answer: Legislati on • Question 46 The U.S. Department of Commerce developed the International Trade Administration (ITA) in order to stimulate economic opportunities for U.S. businesses and their employees. 2 out of 2 points Selected Answer: Tru e • Question 47 2 out of 2 points Due to the numerous religions in the world, (e.g.such as Christianity, Islam, Buddhism, and Hinduism), nations find difficulty coming to agreements over theocratic laws. Selected Answer: Tru e • Question 48 2 out of 2 points Options for governments to promote cross-border trade include subsidies, special government agencies, ( ), and ( ). Selected Answer: both of the above • Question 49 2 out of 2 points Individualists believe that they are an indispensable part of the group and will readily contribute without concern for being taken advantage of or whether or not others are doing their part. Selected Answer: Fals e • Question 50 2 out of 2 points ( ) is especially important for small businesses engaged in exporting, as these organizations may need government assistance in obtaining finances for export activities. Selected Answer: Diligence in management • Question 51 Property can be classified as both ( ) and ( ). 2 out of 2 points Selected Answer: Physical; intellectual • Question 52 2 out of 2 points In a market economy, the market is guided by a free price system rather than a planned economy controlled by the state. Selected Answer: Tru e • Question 53 2 out of 2 points ( ) per person is often used as a measure of the welfare of the citizens of a country. Selected Answer: Gross National Product • Question 54 2 out of 2 points The United Nations and other global monitoring agencies classify nations with the lowest economic status as ( ) nations. Selected Answer: Developi ng • Question 55 2 out of 2 points Transfer risk occurs when debtors in a country are unable to ensure timely payments of foreign currency debt service. Selected Answer: Tru e • Question 56 The property on a trademark can last as long as the trademark is easily distinguishable. 2 out of 2 points Selected Answer: Tru e • Question 57 2 out of 2 points In terms of recording the balance of payments, if a country has received money it should be recorded as a debit. Selected Answer: Fals e • Question 58 2 out of 2 points The United Nations Conference on Trade and Development defines FDI as investments outside the investor’s home economy where the investor holds a 10 percent stake. Selected Answer: Tru e • Question 59 In addition to attracting FDI on the national level, the United States’ FDI 2 out of 2 points incentives are often offered on the ( ) level to lure businesses and jobs to the ( ) economy. Selected Answer: State; local • Question 60 2 out of 2 points 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. Selected Answer: Equali ty • Question 61 2 out of 2 points Labor and production costs are typically higher in less developed nations. Selected Answer: Fals e • Question 62 Equity capital includes both mergers and acquisitions and “Greenfield” investments (the creation of new facilities). 2 out of 2 points Selected Answer: Tru e • Question 63 2 out of 2 points 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. Selected Answer: Tru e • Question 64 2 out of 2 points Countries keep detailed accounts of the balance of payments and usually publish the findings at the end of each year. Selected Answer: Tru e • Question 65 A trade deficit will be generated if the imports outweigh the exports. 2 out of 2 points Selected Answer: Tru e • Question 66 2 out of 2 points If foreign ownership decreases faster than domestic ownership, then the country is said to have a capital account surplus. Selected Answer: Fals e • Question 67 2 out of 2 points ( ) agreements guide the trading conduct of nations that may not have similar legal foundations or business customs. Selected Answer: Trad e • Question 68 2 out of 2 points The ( ) entity records the purchase and sale of domestic and foreign assets. Selected Answer: Capit al • Question 69 2 out of 2 points Negative net income from abroad corresponds to a credit in the current account. Selected Answer: Fals e • Question 70 2 out of 2 points If a country wanted to reduce its trade deficit, it would need to reduce the disparity between its savings and investments. Selected Answer: Tru e • Question 71 2 out of 2 points Foreign Direct Investment can also take place by injecting ( ) dollars into the economy of a given country. Selected Answer: Marketi ng • Question 72 2 out of 2 points If domestic ownership of foreign assets increases faster than foreign ownership of domestic assets, then the country has a capital account deficit. Selected Answer: Tru e • Question 73 2 out of 2 points Usually calculated on a yearly basis, the ( ) acts as a gauge to track the coming and going of international trade dollars. Selected Answer: Balance of payments • Question 74 2 out of 2 points 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. Selected Answer: Comparative Advantage Theory; comparative advantage • Question 75 2 out of 2 points When considering FDI the most important consideration facing a corporation is the type of ( ) and ( ) the investing corporation will have over the foreign entity. Selected Answer: Ownership and control Thursday, November 15, 2018 7:11:30 PM EST [Show More]

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