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Exam 3: Doing Business in Global Markets

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Question 171

Multiple Choice

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Free trade between nations generally results in

A) industrialized nations gaining at the expense of developing nations.
B) an increase of jobs in developed nations.
C) mutually beneficial exchange relationships.
D) higher prices for imported goods.

E) A) and D)
F) A) and C)

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Question 172

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Global markets consider the U.S. dollar to be a weak currency.

A) True
B) False

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Question 173

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An advantage of forming a joint venture is

Which of the following is an advantage of offshore outsourcing?

________ was a seventeenth- and eighteenth-century belief that a nation should try to sell more goods to other nations than it buys from them.

Japanese auto manufacturers, such as Toyota and Nissan, have invested billions of dollars in the United States by building new factories, warehouses, and offices. These investments increase favorably the balance of payments for the United States.

The value of German exports coming to the United States is greater than the value of the goods Germany buys from the U.S. This results in a U.S. trade deficit with Germany.

In order to level the playing field in trade between the U.S. and China, U.S. policymakers have called upon China's government to allow the yuan to float freely, as other world currencies. Through government regulation, China maintains an undervalued currency, which results in

To understand legal and regulatory conditions and be successful in global markets it's often useful to contact

The legislation that prohibits U.S. businesses from making "questionable" or "dubious" payments to foreign officials, to secure business contracts is the

Another name for a common market is

From a sociocultural perspective, U.S. businesspeople are often accused of ethnocentricity.

________ are specialists that match buyers and sellers from different countries and provide services to ease the process of entering global markets.

According to the theory of mercantilism, a country should develop policies that encourage a favorable balance of trade.

A fast-growing form of foreign direct investment is ________, which are government-controlled investments in foreign companies.

Shortly after graduating college, Roberto took his place in his family's company in Miami. Roberto's father and uncle started a company that buys bauxite, copper, and other minerals from Chile, and brings them into the U.S. Roberto brokers trades with mines in Chile. Roberto is a(n)

Currency fluctuations can be an advantage to firms trading in the global market.

Game Guys, Inc. needed a special silicon substrate. The company executives knew that a new start-up in India, Silicon Sisters, Inc., was the best in the world at efficiently mass-producing the product. The Indian company needed MSG (metallurgical grade silicon) in order to make the substrate, which it knew it could get from a Chinese firm. The Chinese firm (mostly owned by the Chinese government) agreed to supply the silicon to Silicon Sisters if it could get a certain quantity of gaming hardware from Game Guys. This beneficial exchange is described as countertrading.

A sociological challenge that must be overcome in order to be successful in the global market is

Global financial markets operate under a system of ________, where the supply and demand for various currencies will determine their value at any moment in time.