International business practice test questions

Why did Japanese firms invest in North America and Europe in the 1970s?

to provide a hedge against unfavorable currency movements and imposition of trade barriers

the negotiations in the Uruguay Round of GATT led to

enhanced protection for patients, trademarks, and copyrights

TRUE

Manufacturers of industrial goods and materials are more likely to participate in global markets than producers of consumer products. (TRUE OR FALSE)

FALSE

The World Bank has focused on policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties. (TRUE OR FALSE)

TRUE

The parties to an agreement normally resort to contract law when one party feels the other has violated either the letter or the spirit of an agreement. (TRUE OR FALSE)

for what reason might command economies tend to stagnate?

the abolition of private ownership means there is no incentive for individuals and no competition

Plato . . . , he believed that society should be stratified into classes with those best suited to rule administering society for the benefit of all.

did not equate collectivism with equality

Which philosophy can be traced back to the ancient Greek philosopher Aristotle

Individualism

According to Hernando de Soto, which factor is essential for the developing world to be able to reap the benefits of innovation and entrepreneurship?

strong property rights

To account for differences in the cost of living, one can adjust GNI per capita by … , which allows for a more direct comparison of living standards in different countries.

purchasing power

FALSE

since the late 1980s, there has been a strong move away from a more free market economic model and towards more centrally planned mixed economies (TRUE OR FALSE)

TRUE

In mixed economies, in certain sectors the state sets prices, owns businesses, limits private enterprise, restricts investment by foreigners, and restricts international trade. (TRUE OR FALSE)

TRUE

Max weber believed that devout Hindus would be less likely to engage in entrepreneurship (TRUE OR FALSE)

FALSE

Folkways not only represent routine conventions of everyday life, but they also represent the moral significance of the social rules that govern people’s actions towards one another. (TRUE OR FALSE)

religion may be defined as…

shared beliefs and rituals that are connected with the realm of the sacred

For Jake and tyrone, U.S. Army veterans, . . . are not abstract concepts. These men argue that concepts such as individual freedom and democracy are so important, they are worth fighting for.

values