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Exam 3: Doing Business in Global Markets

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Question 51

Multiple Choice

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Laura is typical of many U.S. businesspeople. She feels the U.S. culture defines the model for the rest of the world, and that the "American way" of doing things is the best. Laura is guilty of

A) ethnic plagiarism.
B) ethnocentricity.
C) culture shock.
D) counter culture.

E) None of the above
F) B) and C)

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Question 52

Multiple Choice

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The ________ is the difference between money flowing into a country from exports, and money leaving the country for imports, plus money flows coming from other factors such as tourism, foreign aid, military expenditures, and foreign investment.

A) balance of payments
B) balance of trade surplus
C) balance of cash flows
D) balance of trade

E) C) and D)
F) All of the above

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Question 53

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Exporting is the selling of products to another country.

The nation of Hasalot is home to roughly 95% of the world's Diamontite, a rare stone used in consumer products including watch faces, smartphones, computer monitors, and tablets. The fact that this is necessary for the production of many products we use today means Hasalot can almost name its price! Which of the following describes this situation?

A disadvantage of licensing is

The purpose of the General Agreement on Tariffs and Trade (GATT) is to

Contract manufacturing is when a firm pays foreign manufacturers to produce its product. The foreign manufacturer places the domestic company's label on the products.

One advantage of licensing as a strategy to enter the global market is the sharing of trade secrets.

An unfavorable balance of trade occurs when the value of

A risk unique to firms with direct investment in a foreign country is the potential takeover of the firm's assets by the government of that country. This takeover is called a(n)

The United States currently enjoys a favorable balance of trade with the rest of the world.

An import quota is a complete ban on the import or export of certain products.

Effective human resource management styles are transferable from one culture to another.

If your business has an outstanding product, exporting offers a quick, easy, no-hassle way to improve your profitability.

Trade experts' concerns about trading with China include its

Imported wines such as a bordeaux from France or a prosecco from Italy often sell at a higher price than wine made in Napa Valley, California. This is due to the protective tariff importers pay for the foreign wine.

Under a system of floating exchange rates, changes in the value of the U.S. dollar relative to other currencies are the result of

The Dabble Corporation wants to begin exporting its products. The company needs advice about how to get started, as well as trade-finance support. The federal government has established ________ to help companies like Dabble Corporation.

Current trade data shows that the country of Hasalot exports far more to other nations than it imports. Hasalot has

Telewhiz, Inc., just contracted with a firm in the Philippines to provide customer service for its smartphone customers. Although there were cheaper labor markets that Telewhiz could have tapped, customers have reported that they understand English-speaking Filipino people better than English-speaking people in other countries. As an outsourcing option, it is a good compromise.