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International Business BUS 401 Assist. Prof. Senem Göl Review: Chapters 1, 2, 3 and 4 All commercial transactions between two or more countries are known as _____. international business globalization the balance of payments multinational operations Which of the following is one of the major factors causing the recent growth in international business? stricter border controls on illegal immigration increases in mergers and acquisitions improvements in governmental records of international transactions development of institutions to support and facilitate trade Critics contend that a downside of globalization is that it causes _____. a slowing of economic growth tax collections to decrease nations to become more independent of each other an increase in the use of non-renewable resources Which of the following is a major operating objective that may induce companies to engage in international business? to operate in more familiar environments to acquire resources to deal with concerns outside the confines of any country to price more flexibly Which of the following is a service export for Turkey? a Japanese tourist's visit to Turkey a Turkish tourist's visit to Indonesia the purchase in the U.K. of Turkish wool a Turk’s travel abroad on a U.S. airline A multinational enterprise (MNE) is a company with _____. operations in at least five different countries a global approach to foreign markets and production a sanctioned registration by the United Nations a listing among the world's thousand largest companies An MNE - a company with operations in more than one country - may be synonymous with all of the following EXCEPT: a company that has a worldwide approach to markets and promotions a FDI (Foreign Direct Investment) a MNC a TNC Critics claim that globalization has caused more income inequality. True False The ownership of a foreign bond is an example of a portfolio investment. True False Today, global events affect almost all companies, large or small. True False _____ consists of specific learned norms based on attitudes, values, and beliefs. Religious affiliation Culture Morality Ethnocentrism Which of the following is an example of an affiliation, which is an acquired rather than ascribed group membership? family age political affiliation ethnicity In a country where power distance is high, which would probably be the most effective way to manage? As a boss, you give orders rather than asking subordinates for advice. The CEO should talk to people at different organizational levels before making major decisions. The CEO should not talk to people at different organizational levels before making major decisions. As a boss, you should delegate most decision making to teams of subordinates. A work related value dimension is best identified by the extent to which the primary focus is on assertive acquisition of money, heroism and power versus the quality of life, nurturing and one’s interpersonal relationships. individualism-collectivism masculinity-femininity uncertainty avoidance power distance In which of the following cultures are workers most likely to prefer to work for their existing organizations for a long time, rather than seeking advancement opportunities elsewhere? high power distance cultures high context cultures high collectivist cultures high uncertainty avoidance cultures In a low context culture, there is a tendency for people to _____. engage in a lot of preliminary communications before discussing business Do not engage in a lot of preliminary communications before discussing business Under which of the following attitudes would organizational control most likely be decentralized so that managers in the foreign locale would make most decisions? polycentric ethnocentric geocentric pragmatic A culture where people prefer to work sequentially (e.g. people prefer to finish with one customer before dealing with another) is a low context culture. True False Although written and spoken languages differ, gestures are universal. True False The term __________ refers to a political system that stresses the primacy of the individual goals over collective goals. individualism collectivism democracy Totalitarianism Nationalization, restrictions on the repatriation of profits and differing points of view are the examples of political risk. true false __________ is the form of government in which one person or political part exercises absolute control, whereas __________ refers to a political system in which government is by the people, exercised either directly or through elected representatives. totalitarianism, democracy socialism, democracy democracy, totalitarianism individualism, collectivism Which of the following restrictions is inconsistent with a totalitarian state? regulated access to information a court system that is supervised by the political system citizens' freedom to speak their minds a powerful security force A creation of the mind that has commercial value, including copyrighted property such as literary or artistic works, is referred to as __________. intellectual property intangible possession exclusive ownership creative input Political systems can be assessed in terms of two related dimensions. The first is the degree to which they emphasize collectivism versus totalitarianism. The second dimension is the degree to which they are democratic versus individualistic. True False Democracy and totalitarianism are on the same end of the political spectrum. True False In a totalitarian state, a single party, individual, or group of individuals control political power. True False Political risk is the chance that political decisions, events, or conditions in a country lead to a lower than projected rate of return for a company's investments. True False A system of law based on a general set of codes is commonly referred to as a(n) __________. common law system autocratic legal system civil law system administrative law system The protection of intellectual property rights is quite similar from country to country. True False Per capita GNI is determined by____ the size of GNI of a country by its total population. Multiplying Adding Dividing subtracting Technically, the _______ index is the number of units of a country's currency required to buy the same amounts of goods and services in the domestic market that one unit of income would buy in the other country. PPP HD GNP GNI The Human Development Index is ________. associated with the growing wave of democratic revolutions occurring in countries worldwide believed to create greater incentives for innovation than simply monetary goals for individuals often regarded as a yardstick for the economic activity of a country a measure of the average achievements in a country in terms of longevity, knowledge, and standard of living The three broad types of economic systems are: __________ . market economy, collective economy, production economy market economy, command economy, mixed economy individualist economy, mixed economy, and state-directed economy market economy, hybrid economy, and command economy In a __________ economy, the government retains significant ownership in certain sectors yet lets private ownership and free market mechanisms prevail in other sectors of the market. authoritarian market mixed command Some countries opt for a mixed economic system in the belief that while an economic system should aspire to achieve the efficiencies endemic to free markets, it must also apply the policies needed to:________________ . maintain poverty rates equitably distribute wealth stabilize high unemployment promote rapid economic growth A country's gross national product is the value of all production that takes place within a country's borders. True False Movement to a market-based economic system entails a number of steps, including deregulation, the establishment of private enterprise, and privatization of state-owned assets. True False The term protectionism, when applied to international trade, refers to governmental restrictions and incentives to affect trade flows. True False Saved by the bell...