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A tax on automobiles imported into the United States that raises prices on imported vehicles to make the price of cars produced in the United States more competitive is a(n) ________; a tax on all oil imported into the United States, which is implemented to raise money for the U.S. government, is a(n) ________ tariff.


A) protective tariff; revenue
B) revenue tariff; protective
C) quota tariff; revenue
D) embargo agreement; income
E) import barrier; income

Correct Answer

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A

There are many positive effects to globalization, but which of the following would be a negative effect?


A) data sharing
B) cultural intermingling
C) mass communication
D) speedy transportation
E) cheaper products

Correct Answer

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Pinetops Resorts, an American company, sells the rights to other hospitality companies globally to open resorts with the Pinetops name for a fee and a share of the profit, in return for using Pinetops' brand name and a package of materials and services. Pinetops is engaged in


A) franchising.
B) importing.
C) offshoring.
D) exporting.
E) countertrading.

Correct Answer

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Which of the following is NOT true about the concept of traveling for business?


A) Air travel and the electronic media have made it easier for the people around the globe to communicate with one another.
B) Exported services include travel, transportation, and computer services, valued at just over $500 billion.
C) A recent survey found that 70 percent of millennials cite their desire to travel as the primary reason they work in the first place.
D) The number of U.S. passports issued per year has grown steadily over the last several years, reaching more than 21.3 million for 2017, according to the Department of State.
E) Traveling abroad is a way to develop cultural awareness, a career readiness competency that can help ensure your international experience enhances your career success.

Correct Answer

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Which of the following is NOT one of the BRICS countries?


A) Brazil
B) Russia
C) Indonesia
D) China
E) South Africa

Correct Answer

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Based on the text, many companies are interested in expanding globally in order to


A) gain access to supplies, new markets, and lower labor costs.
B) gain access to natural resources, new markets, and a diverse workforce.
C) implement tariffs and import quotas.
D) utilize export embargoes to increase business.
E) increase the diversity and creativity of their workforce.

Correct Answer

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Henry, a regional manager for a global corporation, is meeting with several upset managers from the Rome plant about Michael, who is originally from Texas but moved to Italy to manage the Rome facility. Antonio, the assistant manager, tells Henry, "We all feel that Michael sees things only one way-his-and very seldom considers our perspective on things." Michael is employing a ________ management style.


A) traditional
B) ecocentric
C) geocentric
D) polycentric
E) parochial

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E

Michelle grew up helping her father work on cars in his auto repair shop and developed into an excellent auto technician. Because of stereotypes regarding women in this field, she is interested in finding a shop that minimizes gender discrimination and gender role inequalities. Michelle wants to work for a company that highly values gender egalitarianism.

Correct Answer

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Scott, a manager at the Rome, Italy, store of an American-owned clothing company, understands the differences and similarities between American and Italian customers, customs, culture, and practices. As a result, Scott uses his understanding of Italian culture, tastes, and business practices to help him market his products to Italian customers in Rome-and he uses his understanding of American culture to sell his products to American tourists who are visiting Rome. Scott is an example of a geocentric manager.

Correct Answer

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According to the GLOBE project, in-group collectivism refers to


A) how much patriotism and loyalty people should have for their country.
B) the degree to which a society's members expect power to be distributed.
C) the extent that individuals are encouraged and rewarded for group loyalty versus pursuing individual goals.
D) the extent to which a society encourages investment in the future, as by planning and saving.
E) the extent to which people should take pride in being members of their family, circle of close friends, and work organization.

Correct Answer

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Alpha Computing is a U.S. company that specializes in IT research. It has formed a joint venture with Microchips Inc., a Belgium organization that has a reputation for producing quality PCs. The two companies will work together to market laptops in China, sharing the risks and rewards of starting the new enterprise together. Alpha Computing and Microchips Inc. are partners in a(n)


A) strategic alliance.
B) global strategy.
C) export strategy.
D) import strategy.
E) franchising strategy.

Correct Answer

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The "most favored nation" trading status describes a condition in which a country grants other countries favorable trading treatment, such as the reduction of import duties.

Correct Answer

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True

An import quota is a(n)


A) trade barrier.
B) embargo.
C) sanction
D) export fee
E) type of dumping

Correct Answer

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Technology philosopher Nicholas Negroponte proposed that the global market driven by electronic information


A) "causes products to become more expensive."
B) "increases technical literacy within organizations but results in information overload."
C) "results in new laws but less synergy and less ethical behavior."
D) "causes an increase in the types of goods available but decreases in product quality."
E) "forces things to get bigger and smaller at the same time."

Correct Answer

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A nation's culture is


A) the shared set of beliefs, values, knowledge, and patterns of behavior common to its people.
B) synonymous with its religious beliefs.
C) a shared set of business traditions common to the nation.
D) its constitution and written codes of behavior.
E) embedded in its laws that are accepted as moral imperatives by most of the citizens.

Correct Answer

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Shrimpers in South Louisiana have accused China of selling shrimp in the United States at a lower price than U.S. suppliers. The goal of the Chinese, they argue, is to drive down the price of U.S. shrimp. The U.S. shrimpers are accusing the Chinese of


A) outsourcing.
B) applying import quotas.
C) trade protectionism.
D) dumping.
E) establishing an embargo.

Correct Answer

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What caused the World Bank's chief economist to step down in 2018?


A) Morocco implemented a more flexible exchange system.
B) The European Union lost one million in trading capacity.
C) Brexit was announced.
D) President Trump threatened to pull the United States out of NAFTA.
E) Chilean officials claimed it deliberately skewed the country's economic data.

Correct Answer

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Ethnocentric managers believe that their native country, culture, language, and behavior


A) are equal to all other cultures.
B) are hurtful to others.
C) need to be changed.
D) make them citizens of the world.
E) are superior to all others.

Correct Answer

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Which trading bloc has the goal to reduce tariffs by 75 percent and achieve full economic integration?


A) NAFTA
B) ASEAN
C) CAFTA-DR
D) Mercosur
E) APEC

Correct Answer

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Which statement is NOT true of the BRICS countries?


A) They are five major emerging economies in the world: Brazil, Russia, India, China, and South Africa.
B) The BRICS countries are home to 40 percent of the world's population.
C) In recent years, growth in China has slowed, and it is gradually losing its existing cheap labor pool.
D) The BRICS countries have joined together to form a trading bloc.
E) A key advantage for India in the world economy is the fact that it has a large English-speaking population.

Correct Answer

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