Liberty University BUS 604. Comprehensive Questions and Answers. 100% Correct. Grade A+ Respuestas Test 1

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• Question 1 The ( ) is home to some of the world’s leading hardware and software manufacturers. 2 out of 2 points Selected Answer: United States • Question 2 0 o... ut of 2 points Taiwan has emerged as a cost-leading manufacturer of products ranging from consumer goods to industrial equipment. Selected Answer: True Correct Answer: False • Question 3 0 out of 2 points The ( ) was enacted to provide uniform standards and rules of engagement to a growing international trade market. Selected Answer: World Trade Organization (WTO) • Question 4 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: True • Question 5 2 out of 2 points ( ) was a major contributor to continental trade growth between the United States, Mexico, and Canada because it eased quotas, tariffs, and customs procedures. Selected Answer: NAFTA • Question 6 2 out of 2 points ( ) and ( ) consistently rank as two of the leading suppliers to the United States, making up over 25 percent of total trade to the U.S. Selected Answer: Canada; Mexico • Question 7 Which of the following is not one of the ways political risks can be classifies? 2 out of 2 points Selected Answer: functio nal • Question 8 2 out of 2 points The Industrial Revolution heralded the introduction of mass production, improved transportation, technological progress, and the industrial factory system. Selected Answer: Tru e • Question 9 2 out of 2 points Foreign direct investment allows domestic firms to receive capital financing from foreign entities. Selected Answer: Tru e • Question 10 0 out of 2 points United States imports primarily come from the following countries: China, Canada, Mexico, and Germany. Selected Answer: Tru e Correct Answer: False • Question 11 2 out of 2 points The top four export partners of the United States are as follows: ( ), ( ), ( ), and ( ). Selected Answer: Canada, Mexico, China, and Japan • Question 12 Tariffs are the restrictions of the import of something to a specific quantity. 2 out of 2 points Selected Answer: Fals e • Question 13 2 out of 2 points Economic health is considered ( ) when a country imports considerably more than it exports. Selected Answer: Negati ve • Question 14 2 out of 2 points ( ), ( ), and ( ) are considerable operational differences of global businesses from that of domestic businesses. Selected Answer: All of the above • Question 15 2 out of 2 points ( ) are much more narrowly defined than knowledge areas in that they represent quantifiable measures. Selected Answer: Skill s • Question 16 2 out of 2 points Horizontal integration extends a firm's competitive scope within the same industry by performing production activities normally provided by a supplier or distributor. Selected Answer: Fals e • Question 17 2 out of 2 points The global business manager must possess a strong international awareness and must understand the unique factors that contribute to the success of a global business, including formal education. Selected Answer: Tru e • Question 18 2 out of 2 points The ( ) brought about the first efficient forms of mass transportation using machine power. Selected Answer: Steam engine • Question 19 2 out of 2 points Geocentrism requires collaboration between headquarters and subsidiaries to establish universal standards with permissible local variations. Selected Answer: Tru e • Question 20 2 out of 2 points Global professionals must have a knowledge and respect for the following issues ( ), ( ), ( ), and communication. Selected Answer: All of the above [Show More]

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