In some countries, small bribes are considered a normal part of doing business.
1/1
True
 
False

 
The ________ the society, the more possible it is for individuals to move from one
stratum to another.
0/1
more populated
less stratified
more stratified
 
Correct answer
less stratified

 
A company with a defensive stance on social responsibility will do everything that is
required of it legally but nothing more.
1/1
true
 
False

 
Which of the following is one of the stages in the international product life cycle
theory?
1/1
pre-invention product stage
maturing product stage
 
modified product stage

 
Privatization is ________.
1/1
nationalization with compensation
nationalization without compensation
the transfer of ownership of resources from the public to the private sector
 
 
The ________ is a double-entry bookkeeping system designed to measure and
record all economic transactions between residents of one country and residents of
all countries during a particular time period.
1/1
managerial accounting
international accounting
balance of payments
 
 
During the gold standard, most firms preferred their payment in gold rather than in
currency.
0/1
True
 
False

Correct answer
False

 
Individuals should most likely study international business to ________.
1/1
Comply with graduate school certification requirements
Ensure that an employer has a global online presence
Remain current on the latest business methods
 
 
Which theory suggests that a country should export those goods and services for
which it is more productive than other countries and import those goods and
services for which other countries are more productive?
1/1
absolute advantage
 
mercantilism
specialization of countries

 
Which theory suggests that a country should produce and export those goods and
services for which it is relatively more productive than other countries and import
those goods and services for which other countries are relatively more productive?
1/1
specialization of countries
absolute advantage
comparative advantage
 
 
An embargo is a type of comprehensive sanction.
1/1
True
 
False

 
When the British government sold its interests in British Airways to an outside
investor, the government was practicing privatization.
1/1
True
 
False

 
The term ________ refers to the voluntary exchange of goods, services, assets, or
money between one person or organization and another.
1/1
sales
transaction
trade
 
 
Political change has provided greater access to international markets in recent
times.
0/1
True
False
 
Correct answer
True

 
Currencies that can be freely exchanged for other currencies without legal
restrictions are called ________.
fixed currencies
convertible currencies
 
floating currencies

 
Civil law is primarily based on ________.
1/1
the officially established rules governing the faith and practice of a particular religion
a codification of what is and is not permissible
 
actions taken by local governments

 
Social stratification refers to how people in a society are ________.
1/1
paid for employment
categorized by attributes
 
sorted for housing

 
Japan exports Toshiba Computers to the United States, and the United States
exports Apple Computers to Japan. This is an example of ________.
0/1
interindustry trade
 
diversification
intraindustry trade

Correct answer
intraindustry trade

 
The country similarity theory suggests that most trade in manufactured goods
should be between countries with similar ________.
0/1
cultures and languages
labor costs
 
economic development

Correct answer
economic development

 
Why does the international monetary system exist?
2/2
because most countries have their own currencies
 
to avoid monetary crises from becoming global
because it sets the price of a given currency

 
In which country does the attitude "time is money" prevail?
1/1
Canada
 
Saudi Arabia
Mexico

 
According to the international product life cycle theory, the innovating firm's country
is primarily an exporter of the product in all three stages.
0/1
True
 
False

Correct answer
False

 
The international monetary system provides a mechanism for ________.
0/1
establishing global accounting standards
correcting imbalances between a country's international payments and receipts
increasing a country's paper currency value in comparison to the global gold standard
 
Correct answer
correcting imbalances between a country's international payments and receipts

 
The theory of ________ maintains that a country's wealth is measured by its
holdings of gold and silver.
1/1
competitive advantage
neomercantilism
mercantilism
 
 
Justin is aware that his supervisor used corporate funds to pay for a personal
vacation and reports the offense. This is called ________.
1/1
whistle-blowing
 
acknowledgement
conflict of interest

 
A(n) ________ is the price of one currency in terms of a second currency.
1/1
excise tax rate
exchange rate
 
export rate

 
Black and Decker produces tools at a plant in North Carolina and ships the tools to
retailers in England. This is an example of which type of international business
activity?
1/1
Exporting
 
Trading
Importing

 
Ethical beliefs are primarily ________ in nature.
1/1
individual
 
familial
societal

 
Adam Smith was best known as an advocate of ________.
1/1
free-market economics
 
labor unions
low-cost manufacturing

 
The term ________ is used to identify firms that have extensive involvement in
international business.
1/1
Global Operation
Multinational Corporation
 
Multi-domestic Organization

 
Which of the following is considered a form of intellectual property?
1/1
human resources
real estate
a brand name
 
 
Which of the following is not a component of social structure?
1/1
stratification of society
societal dress codes within regions
 
individual roles

 
In a ________ culture, a speaker's words explicitly convey the speaker's message.
0/1
high-context
 
linguistic
low-context

Correct answer
low-context

 
Social responsibility is the set of obligations an organization undertakes to protect
and enhance the society in which it functions.
1/1
True
 
False

 
Firms conduct corporate social audits to assess the ethical values and behaviors of
employees.
0/1
True
 
False

Correct answer
False

 
The attitude that parents should be treated as superiors is common in a culture
characterized by power respect.
0/1
True
False
 
Correct answer
True

 
Braxton Clothing Company most likely forbids its buyers from accepting gifts from
potential suppliers because the firm wants to avoid a(n) ________.
0/1
breach of contract
 
trade violation
conflict of interest

Correct answer
conflict of interest

 
McDonald's has licensed its brand name, operational systems, and trademarks to
individual restaurant owners in Europe. This is called international ________.
1/1
Franchising
 
Leasing
Diversifying

 
France exports wine to Japan, and Japan exports clock radios to France. This is an
example of ________.
1/1
diversification
intraindustry trade
interindustry trade
 
 
Religious law is primarily based on ________.
1/1
judges' court decisions
legislative actions
officially established rules governing a faith
 
 
The balance of payments accounting system is a double-entry system.
1/1
True
 
False

 
Which of the following is a common method for encouraging ethical behavior
among employees?
1/1
highlighting the failures of competitive companies
codes of ethics
 
promoting religion in the workplace

 
The transmittal of technology from one country to another is known as technology
________.
1/1
drain
transfer
 
piracy

 
The international business activity called ________ occurs when capital is supplied
by residents of one country to residents of another country.
1/1
Global direct investment
Portfolio financing
International investment
 
 
________ are purchases of foreign financial assets for a purpose other than
control.
1/1
Foreign portfolio investments
 
Indirect investments
Foreign direct investments
Option 1

 
Circumstances have a significant influence on an individual's behavior.
1/1
True
 
False

 
Under the gold standard ________.
1/1
currency values were determined by supply and demand
countries were free to adopt any nation's exchange rate system
countries agreed to buy or sell their paper currencies for gold
 
 
Which term refers to the collection of values, beliefs, behaviors, customs, and
attitudes that distinguish one society from another?
1/1
norms
history
culture
 
 
Which of the following is most influential on an individual's ethics?
0/1
occupation
 
peers
television

Correct answer
peers

 
Which term refers to the location of a parent company's headquarters?
1/1
Home country
 
Host country
Local country

 
________ is the process by which both parties in a conflict agree to submit their
cases to a private individual or body whose decision they will honor.
0/1
Resolution
 
Repatriation
Arbitration

Correct answer
Arbitration

 
33) Walt Disney permits a German clothing manufacturer to market children's
pajamas embroidered with Mickey Mouse in return for a percentage of company
sales. This is an example of ________.
1/1
Piracy
Leasing
Licensing
 
 
________ is the lingua franca of international business.
1/1
American
French
English
 
 
The first theories of international trade used ________ as a unit of analysis.
1/1
individual countries
 
continents
regions
 
Which of the following would be considered an international business transaction?
1/1
Purchasing products in one country and assembling them in the same country
Borrowing money from a major bank to finance capital improvements
Shipping finished products from one country to another for retail sale
 
 
________ is the cultural belief that the person comes first.
1/1
Goal orientation
Social orientation
Individualism
 
 
The initial goal of the World Bank was to help finance the reconstruction of Europe.
0/1
True
 
False

Correct answer
False

 
In cultures characterized by ________, people at all levels in a firm accept the
decision of those above them because of the implicit belief that higher-level
positions carry the right to make decisions.
1/1
power respect
 
power tolerance
uncertainty avoidance

 
Common law is primarily based on ________.
1/1
a codification of what is and is not permissible
the cumulative wisdom of judges' decisions on individual cases through history
 
actions taken by government legislatures

Student Name
Mhammad El Turk

 
________ is a systematic analysis of the political risks possible in foreign countries.
1/1
Political risk assessment
 
Operating risk analysis
Environmental scanning