Saint LEO GBA440 Module 8 Quiz 2 New (2016)

Question

Quiz 2

Question 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

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