Liberty University BUSI 604 International Business Test 1

•             Question 1

0 out of 2 points

                (______) and (______) consistently rank as two of the leading suppliers to the United States, making up over 25 percent of total trade to the U.S.                                             

                Selected Answer:                                                           

•             Question 2

2 out of 2 points

                (_____) have been constructed to prevent domestic companies from employing underage workers—even in foreign countries.                                           

                Selected Answer:                                           

•             Question 3

2 out of 2 points

                The rank of the top five countries (largest to smallest) by GDP as of 2015 are as follows: United States, China, Germany, Japan, and United Kingdom.                                 

                Selected Answer:

•             Question 4

2 out of 2 points

                (___________) is the official measure of total output of goods and services in a nation’s economy.                                       

                Selected Answer:            Gross Domestic Product (GDP)

•             Question 5

2 out of 2 points

                Foreign direct investment allows domestic firms to receive capital financing from foreign entities.                                           

                Selected Answer:

•             Question 6

2 out of 2 points

                (______) was a major contributor to continental trade growth between the United States, Mexico, and Canada because it eased quotas, tariffs, and customs procedures.                                          

                Selected Answer:                                                           

•             Question 7

2 out of 2 points

                The health of a given economy can be measured in part by the number of exports    it has relative to the number and economic value of its imports.                                          

                Selected Answer:

•             Question 8

2 out of 2 points

                Foreign investment does not include the outbound investment of host country capital into foreign economies.                                

                Selected Answer:

•             Question 9

0 out of 2 points

                Multinational corporations (MNCs) are often divided into three broad groups based on (___), (____), and (_____).                                               

                Selected Answer:                                                           

•             Question 10

0 out of 2 points

                United States imports primarily come from the following countries: China, Canada, Mexico, and Germany.                                         

                Selected Answer:

•             Question 11

2 out of 2 points

                Economic health is considered (______) when a country imports considerably more than it exports.                                      

                Selected Answer:                                                           

•             Question 12

2 out of 2 points

                The (_________) is home to some of the world’s leading hardware and software manufacturers.                                          

                Selected Answer:                                                           

•             Question 13

2 out of 2 points

                Sanctions refer to the taxes on imported goods.                                              

                Selected Answer:

•             Question 14

2 out of 2 points

                In 1866, the telegraph opened the first transatlantic communications channel to facilitate real-time communication over long distances.                                       

                Selected Answer:

•             Question 15

2 out of 2 points

                (______) are the characteristics that are unique to an individual’s learning experiences or character.                                     

                Selected Answer:                                                           

•             Question 16

2 out of 2 points

                When a firm in one nation exchanges products, services, resources, or capital with a firm located in another nation, this exchange constitutes a(n) (_________).                                    

                Selected Answer:                                                           

•             Question 17

0 out of 2 points

                Any corporation or enterprise that manages production establishments or delivers services in at least three countries may be considered a MNC.                                    

                Selected Answer:

•             Question 18

2 out of 2 points

                Improvement in transportation, advances in communications technology, and trade-friendly legislation have all contributed to the desire to produce a seamless global economy.                                           

                Selected Answer:

•             Question 19

2 out of 2 points

                A low individualism ranking typifies societies of a more collective nature with close ties between individuals.                                     

                Selected Answer:

•             Question 20

2 out of 2 points

                Government leaders increasingly cite (__________) as a reason for withholding foreign aid or debt relief.                                         

                Selected Answer:                                                           

•             Question 21

2 out of 2 points

                Judaism is a (_______) religion which believes that the world was created by a single, all-knowing divinity.                                         

                Selected Answer:                                                           

•             Question 22

2 out of 2 points

                An (_______) status is one that society assigns to an individual on the basis of factors over which the individual has no control: gender, race, ethnic background, and socioeconomic status, into which one is born.                                

                Selected Answer:                                                           

•             Question 23

2 out of 2 points

                An achieved status is one that society assigns to an individual on the basis of factors over which the individual has no control: gender, race, ethnic background, and socioeconomic status, into which one is born.                                

                Selected Answer:

•             Question 24

2 out of 2 points

                Muslims base their doctrine on the teachings in the Bible.                                           

                Selected Answer:

•             Question 25

0 out of 2 points

                (___________) exacerbate the misunderstandings that arise when trying to communicate a message.                                

                Selected Answer:            Ignorance

•             Question 26

2 out of 2 points

                Language affects communication in two ways: (1) (_____________) and (2) (______________).                                          

                Selected Answer:                                                           

•             Question 27

2 out of 2 points

                The (___________) provisions of the FCPA make it unlawful for a U.S. person, and certain foreign issuers of securities, to make a corrupt payment to a foreign official for the purpose of securing business with or directing business to any person.                                       

                Selected Answer:                                                           

•             Question 28

2 out of 2 points

                Primary social groups tend to involve small numbers  of individuals and are characterized by intimate and informal interaction.                                        

                Selected Answer:

•             Question 29

2 out of 2 points

                (_______) people especially value the satisfactory completion of interactions with others.                                         

                Selected Answer:                                                           

•             Question 30

2 out of 2 points

                A high uncertainty avoidance ranking indicates that the country has a high tolerance for uncertainty and ambiguity.                                               

                Selected Answer:

•             Question 31

0 out of 2 points

                The study of culture must include (________) and (_______).                                 

                Selected Answer:                                                           

•             Question 32

2 out of 2 points

                Transparency International provides guidelines for organizations wishing to develop anticorruption programs.                                  

                Selected Answer:

•             Question 33

2 out of 2 points

                People in particularistic cultures share the belief that general rules, codes, values and standards take precedence over particular needs   and claims of friends and relations.                                           

                Selected Answer:

•             Question 34

2 out of 2 points

                Confucianism consider it to be a philosophy of life not a religion.                                              

                Selected Answer:

•             Question 35

0 out of 2 points

                (___________) applied the subset of cultural dimensions to the field of business management, segregating them into independent areas to be further divided in order to get a more precise understanding.                                       

                Selected Answer:                                                           

•             Question 36

2 out of 2 points

                In a predominantly communitarian culture, people place the (_______) before the (______).                                  

                Selected Answer:                                                           

•             Question 37

2 out of 2 points

                A strong correlation exists between (_______) and (_________).                                         

                Selected Answer:                                           

•             Question 38

2 out of 2 points

                Primary responsibility for the presentation of evidence and legal arguments lies with the judge.                                              

                Selected Answer:

•             Question 39

2 out of 2 points

                Many nations, most notably the U.S., are considered free market economies; however, no nation operates with a true free-market economy.                                       

                Selected Answer:

•             Question 40

2 out of 2 points

                The United Nations and other global monitoring agencies classify nations with the lowest economic status as (___________) nations.                                             

                Selected Answer:                                           

•             Question 41

2 out of 2 points

                (____________) can hinder foreign exports  from reaching a nation or from being purchased in the domestic market and place restrictions on domestic businesses.                                  

                Selected Answer:                                           

•             Question 42

2 out of 2 points

                If the quota is extremely low or if a tariff is unreasonably high, (_________) may attempt to push goods through a country’s borders without paying the proper taxes.                                       

                Selected Answer:                                           

•             Question 43

2 out of 2 points

                Tariffs are economic and trade sanctions against targeted foreign countries, groups, organizations, and individuals.                                               

                Selected Answer:

•             Question 44

2 out of 2 points

                Nations that lack adequate (_________) tend to experience hyper-inflation or depression.                                       

                Selected Answer:                                                           

•             Question 45

2 out of 2 points

                Corruption has been identified by several international organizations as the greatest single barrier to economic development worldwide.