Liberty
University BUSI 303 quiz 2 solutions answers right
How
many versions: 4 different versions
Though
the World Trade Organization (WTO) has officially existed since 1975, the foundation for the rules in this trading system originates in the GATT.
A market economy most often refers to an economic system that is under comprehensive control and regulation by a government, in accordance with the plan of economic
development
The
WTO encourages nations to practice the Golden Rule on a national level, pointing out that foreigners and foreign industries should be treated just like the locals and domestic industries
Attempts to explain that nations will produce and export goods that use the highest proportion of those factors of production that are most abundant to a nation.
Which
of the following are designated areas in Customs Ports of Entry that allow commercial merchandise to receive the same customs treatment it would receive if it were
outside the commerce of the United States?
Ownership
in foreign entities can be a complete or a controlling stake in the form of either a joint venture or through stock purchases and acquisitions of existing corporations.
Which
of the following is designed to raise revenue for governments and provide a
competitive advantage for domestic businesses?
(blank) are special privileges offered by the government in order to attract businesses to a region or to provide them with the funding to operate successfully
Equity capital is the value of the MNC’s investment in shares of an enterprise in a foreign
country.
In 1975, as business and policy makers’ alike saw the potential growth of global business,
the World Trade Organization (WTO) was created by several countries in order to monitor
trade around the entire world
Which of the following places power in the hands of customs officials?
Governments play a major role in support of technology by crafting industryspecific
measures, such as tax credits for research and development of new
technologies and
trade policies that support essential technology sectors
The WTO was designed to
The General Agreement on Tariffs and Trade (GATT) was signed on January 1, 1948
In order to achieve economic advantage, a nation should specialize, produce, and export
only products where the nation holds an absolute advantage.
The two ways companies can engage in FDI include
The
equation represents the relationship between trade deficits and surpluses is
expressed as: Exports – Investments = Savings – Imports
Supplier’s credit is
Quotas typically
Government interventions may
The U.S. Department of Commerce developed the
International Trade Administration (ITA) in order to stimulate economic
opportunities for U.S. businesses and their employees
Which of the following is an economic and trade
sanctions against targeted foreign countries, groups, organizations, and
individuals and can be motivated by political, economic, or moral reasons?
Cultures such as China, North Korea, and Cuba
believe that an economic value system should be founded on cumulative efforts,
controlled by greater entities or governments
If a nation’s ________ far exceed its ______,
then the balance of payments is out of control, or more simply stated, out of
balance
Global business risk is any worldwide
factor—outside the laws of supply and demand—that could impact the success or
failure of any venture moving into the international arena
Which of the following is NOT a way that
Governments promote trade?
Governments play a major role in support of
technology by crafting industry-specific measures, such as tax credits for
research and development of new technologies and trade policies that support
essential technology sectors
Nations that primarily functioned under the
centrally planned economic system prior to the 1980s, such as China and Russia,
have embraced the market economy.
The activity, known as __________ is when companies
opt to purchase land or other resources in other nations
When considering FDI, the most important
consideration facing a corporation is the type of ________ and ________ the
investing corporation will have over the foreign entity
Which of the following are types of risk
companies are exposed to in international transactions
Any company considering moving into a foreign
economic market must consider the powerful influence of the military and
religious leadership
Political issues that significantly impact
global business include
Government restriction of trade
Operations
of production are moved to a less-developed nation and the cycle is complete as
highly-developed nations become importers of this product
Which of the
following is an economic and trade sanctions against targeted foreign
countries, groups, organizations, and individuals and can be motivated by
political, economic, or moral reasons
All of the
following are factors that can affect the international BOP and either create
or reduce surpluses and deficits except
Which of the
following is designed to raise revenue for governments and provide a
competitive advantage for domestic businesses
Equity
capital is the value of the MNC’s investment in shares of an enterprise in a
foreign country
Political
issues that significantly impact global business include
Which of the following are designated areas in
Customs Ports of Entry that allow commercial merchandise to receive the same
customs treatment it would receive if it were outside the commerce of the
United States
Government
interventions may be used to decrease global competitiveness
Any company
considering moving into a foreign economic market must consider the powerful
influence of the military and religious leadership
The U.S.
Department of Commerce developed the International Trade Administration (ITA)
in order to stimulate economic opportunities for U.S. businesses and their
employees
Though the
World Trade Organization (WTO) has officially existed since 1975, the
foundation for the rules in this trading system originates in the GATT
Governments
play a major role in support of technology by crafting industry-specific
measures, such as tax credits for research and development of new technologies
and trade policies that support essential technology sectors
Socialism is
the economic policy of restraining trade between nations
Keeping
track of the activity surrounding international trade and investment is done by
maintaining a record of all international transactions, otherwise known as the
balance of payments (BOP)
Operation
risk occurs when debtors in a country are unable to ensure timely payments of
foreign currency debt service because of either transfer or exchange
restrictions or a general lack of foreign currency
Which of the
following are types of risk companies are exposed to in international
transactions
In
mathematical terms the current account is expressed as
Which of the
following is NOT a way that Governments promote trade
The General
Agreement on Tariffs and Trade (GATT) was signed on January 1, 1948
A market
economy most often refers to an economic system that is under comprehensive
control and regulation by a government, in accordance with the plan of economic
development
Risk of a
claim from a previously disposed owner and risk that the current owner will be
disposed
Greatest
wealth and resources; HDI of 0.8 or higher
System that
allows for the simultaneous operation of public/private owned enterprises
Used as a
means of compensating someone for wrongful acts known as torts
Created to
monitor trade around the world
Comprehensive
control/regulation by a government in accordance with the plan of economic
development
Governments
block open trade within a country’s borders
Quantitative
restrictions
Assessment
of nations based upon certain achievements
Quantitative
restrictions
Indicates
the level of competitiveness of a national industry
When foreign
ownership increases faster than domestic ownership
Governments
accumulate wealth in form of gold bullion
Determines
the actions needed to be taken if the goal is to maximize world production
Competitive
Advantage of Nations
Interdependent
group acting as a unified whole, performing activities to achieve a common goal
Used as a
means for controlling Foreign Direct Investment
Sum of a
country’s net income from trade in goods/services
Development
of an entirely new operation in a foreign
International
Product Life Cycle Theory
_______ are special privileges offered by the government in
order to attract businesses to a region or to provide them with the funding to
operate successfully
Ownership in foreign entities can be a complete or a
controlling stake in the form of either a joint venture or through stock
purchases and acquisitions of existing corporations
Which of the following is NOT a purpose behind embargoes
Government interventions may
The United States Department of the Treasury oversees and
enforces all U.S. economic sanctions through the Office of Foreign Assets
Control (OFAC).
Which of the following is NOT a strategic goal of FDI
The WTO encourages nations to practice the Golden Rule on a
national level, pointing out that foreigners and foreign industries should be
treated just like the locals and domestic industries
The General Agreement on Tariffs and Trade (GATT) was signed
on January 1, 1948
A market economy most often refers to an economic system
that is under comprehensive control and regulation by a government, in
accordance with the plan of economic development
As organizations become more involved in the global
community, they may opt to purchase land or other resources in other nations.
This activity, known as foreign direct investment (FDI), is commonly used to
purchase real estate and existing properties
Any company considering moving into a foreign economic
market must consider the powerful influence of the military and religious
leadership
All of the following are factors that can affect the
international BOP and either create or reduce surpluses and deficits except
In mathematical terms the current account is expressed as
Which of the following is NOT true regarding GATT
Operation risk occurs when debtors in a country are unable
to ensure timely payments of foreign currency debt service because of either
transfer or exchange restrictions or a general lack of foreign currency
The equation represents the relationship between trade
deficits and surpluses is expressed as
Cultures such as China, North Korea, and Cuba believe that
an economic value system should be founded on cumulative efforts, controlled by
greater entities or governments
The WTO was designed to
In 1975, as business and policy makers’ alike saw the
potential growth of global business, the World Trade Organization (WTO) was
created by several countries in order to monitor trade around the entire world
Which of the following places power in the
hands of customs officials
The three factors that can affect the
international Balance of Payments (BOP) and either create or reduce surpluses
and deficits are Price of domestic goods,Trade agreements, and taxes and
tariffs
Which theory is related to the following
statement: Operations of production are moved to a less-developed nation and
the cycle is complete as highly-developed nations become importers of this
product
International trading is very important to
a nation because It generates business and government revenue, and it promotes
varying levels of trust between trading partners
Within the legal aspects of international
business the types of laws used across nations are Common, Natural, and
Theocratic
Which theory is related to the following
statement: Governments play a major role in support of technology by crafting
industry-specific measures, such as tax credits for research and development of
new technologies and trade policies that support essential technology sectors
Which of the following is designed to
raise revenue for governments and provide a competitive advantage for domestic
businesses?
The idea behind Foreign Direct Investment
is to buy physical assets or a significant amount of ownership of a firm in another
nation to gain a measure of managerial control
Which of the following is an economic and
trade sanctions against targeted foreign countries, groups, organizations, and
individuals; can be motivated by political, economic, or moral reasons
Specific government actions that promote
trade include all except
Representatives from twenty nations accepted what would later be
considered the precursor to the EU (WTO)
Though the World Trade Organization (WTO) has officially existed
since 1975, the foundation for the rules in this trading system originates in
the GATT. (T/F)
acts as a gauge to track the coming and going of international
trade dollars
Government interventions may be used to decrease global
competitiveness. (T/F)
As organizations become more involved in the global community,
they may opt to purchase land or other resources in other nations. This
activity, known as foreign direct investment (FDI), is commonly used to
purchase real estate and existing properties. (T/F)
When considering FDI, the most important consideration facing a
corporation is the type of ________ and ________ the investing corporation will
have over the foreign entity.
If a nation's ________ far exceed its ______, then the balance
of payments is out of control, or more simply stated, out of balance.
The General Agreement on Tariffs and Trade (GATT) was signed on
January 1, 1948 (T/F)
The activity, known as __________ is when companies opt to
purchase land or other resources in other nations
In order to achieve economic advantage, a nation should
specialize, produce, and export only products where the nation holds an
absolute advantage.
Keeping track of the activity surrounding international trade
and investment is done by maintaining a record of all international
transactions, otherwise known as the balance of payments (BOP). (T/F)
Nations can benefit from trade even when one trading partner
does not have an absolute advantage on any of the products being traded.
Exports - Imports = Savings - Investments
Governments play a major role in support of technology by
crafting industry-specific measures, such as tax credits for research and
development of new technologies and trade policies that support essential
technology sectors.
The equation represents the relationship between trade deficits
and surpluses is expressed as: Exports - Investments = Savings - Imports (T/F)
Operations of production are moved to a less-developed nation
and the cycle is complete as highly-developed nations become importers of this
product.
Socialism is the economic policy of restraining trade between
nations. (T/F)
The two ways companies can engage in FDI include
The WTO encourages nations to practice the Golden Rule on a
national level, pointing out that foreigners and foreign industries should be
treated just like the locals and domestic industries. (T/F)
All of the following are factors that can affect the
international BOP and either create or reduce surpluses and deficits except
Which of the following is NOT a strategic goal of FDI
Attempts to explain that nations will produce and export goods
that use the highest proportion of those factors of production that are most
abundant to a nation.
Equity capital is the value of the MNC's investment in shares of
an enterprise in a foreign country. (T/F)
Ownership in foreign entities can be a complete or a controlling
stake in the form of either a joint venture or through stock purchases and
acquisitions of existing corporations. (T/F)
designed to raise revenue for
governments and provide a competitive advantage for domestic businesses
Cultures such as China, North Korea, and
Cuba believe that an economic value system should be founded on cumulative
efforts, controlled by greater entities or governments. (True or False)
Operation risk occurs when debtors in a
country are unable to ensure timely payments of foreign currency debt service
because of either transfer or exchange restrictions or a general lack of
foreign currency. (True or False)
_______ are special privileges offered
by the government in order to attract businesses to a region or to provide them
with the funding to operate successfully
Political issues that significantly
impact global business include
Nations that primarily functioned under
the centrally planned economic system prior to the 1980s, such as China and
Russia, have embraced the market economy.
In 1975, as business and policy makers'
alike saw the potential growth of global business, the World Trade Organization
(WTO) was created by several countries in order to monitor trade around the
entire world.
The Organization for Economic
Cooperation and Development (OECD), the World Trade Organization, the World
Bank, and the International Monetary Fund have all indicated that unstable
political systems are the greatest single barrier to economic development
worldwide.
Global business risk is any worldwide
factor—outside the laws of supply and demand—that could impact the success or
failure of any venture moving into the international arena.
Which type of risk do managers have some
control over?
The three types of global business risk
include ownership risk, operational risk, and transfer risk.
designated areas in Customs Ports of
Entry that allow commercial merchandise to receive the same customs treatment
it would receive if it were outside the commerce of the United States
A market economy most often refers to an
economic system that is under comprehensive control and regulation by a
government, in accordance with the plan of economic development.
The U.S. Department of Commerce
developed the International Trade Administration (ITA) in order to stimulate
economic opportunities for U.S. businesses and their employees.
typically raise the price of imports,
reduce the volume of imports, and encourage demand for domestically made
substitutes.
Any company considering moving into a
foreign economic market must consider the powerful influence of the military
and religious leadership.
places power in the hands of customs
officials
______ imposes a waiting period between
the determination of a product's quality and the determination of when it can
actually be sold in a market
loan in which the exporter is covered,
but the value of the cover will be less than the value of the contract.
is designed to monitor trade around the
entire world
is an economic and trade sanctions
against targeted foreign countries, groups, organizations, and individuals and
can be motivated by political, economic, or moral reasons
The United States Department of the
Treasury oversees and enforces all U.S. economic sanctions through the Office
of Foreign Assets Control (OFAC).
NOT a purpose behind embargoes
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