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Business: A Changing World, 4/e
O.C. Ferrell, Colorado State University
Geoffrey Hirt, DePaul University
Business in a Borderless World
True or False Quiz
Please answer all questions.
1
The devaluation index represents the rate at which one nation's currency can be exchanged for another nation's currency or for gold.
A)
True
B)
False
2
Many businesspeople today try to "think globally, act locally"
A)
True
B)
False
3
When a country is the only source of an item, it has a comparative advantage.
A)
True
B)
False
4
Promotion and distribution are standardized for the whole world in a multinational strategy.
A)
True
B)
False
5
Exporting is available only to small corporations.
A)
True
B)
False
6
A global strategy involves standardizing products for the whole world as if it were a single entity.
A)
True
B)
False
7
GATT promotes trade among member nations by eliminating trade barriers and fostering financial cooperation.
A)
True
B)
False
8
Each successive set of GATT rounds reduced trade barriers.
A)
True
B)
False
9
Quotas raise the price of foreign goods to allow more expensive domestic goods to compete with foreign ones.
A)
True
B)
False
10
Countertrade agreements involve bartering products for other products instead of for currency.
A)
True
B)
False
11
Export agents manufacture goods for sale in other countries.
A)
True
B)
False
12
Less developed countries (LDCs) are characterized by low per capita income.
A)
True
B)
False
13
Being globally aware is an unimportant quality for today's mangers.
A)
True
B)
False
14
Companies doing business internationally have traditionally used a multinational strategy.
A)
True
B)
False
15
When a nation is importing more than it is exporting, it has a negative balance of trade.
A)
True
B)
False
16
The International Monetary Fund (IMF) promotes trade among member nations by eliminating trade barriers and fostering financial cooperation.
A)
True
B)
False
17
The World Bank and other multilateral development banks provide assistance only to industrialized nations.
A)
True
B)
False
18
Outsourcing is a form of direct investment.
A)
True
B)
False
19
Exporting is the sale of products to another nation.
A)
True
B)
False
20
An embargo prohibits trade in a particular product.
A)
True
B)
False
2002 McGraw-Hill Higher Education
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