*D270 Final Davis*

In class, we discussed the catfish case. In that case, the catfish farmers in the USA were able to convince the U.S. Congress to pass a law that would require what?

Require inspection of all catfish sold in the U.S.

All of the following statements are true about emerging economies EXCEPT:

have overtaken the U.S.A. as the economic leader in the world

The BRIC's countries have all of the following EXCEPT:

strong infrastrucutre

Country X is in the process of transforming from a command economy to a market economy. This process most likely involves

privatization of many factors of production

Which of the following is the most important business objective for pursuing ethical behavior?

developing competitive advantages

What is the primary reason that Anglo American PLC developed its ART program?

maintain a healthy workforce

Which of the following statements is most likely true about the post-conventional level of moral development?

Individuals behave morally because they believe such actions are right.

You are traveling on business in England. You land at the airport and change some of your country's money into English pounds. After you check into your hotel, you walk down the street in London to a grocery store and buy 6 bottles of Coca-Cola to keep in your hotel room while you are there. When you return to your room you use your calculator to see how much Coca-Cola costs in your country's money. You realize that it costs about 30% more to buy Coca-Cola than in your country. The difference in price is an example of

The purchasing power parity

You are a manager for McDonald's Corporation. Your boss tells you that the company is thinking about putting restaurants in a new foreign country that McDonald's has not been to before. Your boss is very interested in finding out if the economic system of this new country will be a good one for McDonald's sales. He tells you that the new country's economy is based on optimizing economic efficiency, promoting egalitarianism, and preventing self-interest. What type of economy does this new country have?

Mixed Economy

The President of India is considering limiting exports to unfriendly countries. An argument against the President taking this action would be that

The cost of the sanctions are placed on innocent people rather than on the leaders of the countries.

All of the following statements are true about G20 countries EXCEPT:

Less than half of the world's poor people live in G20 countries

The coronavirus caused a dramatic economic slowdown around the world. History suggests that when an economic crisis gets worse, more citizens likely to question the

legitimacy of capitalism

The measure of the value of production that occurs within a country's borders without regard to whether the production is done by domestic or foreign factors of productions is its

gross domestic product (GDP)

Canada and Saudi Kuwait make a trade agreement. In the agreement, Canada will limit the amount of salmon fish it exports to the United States to 5,000 tons per year and Kuwait will lower the price of its oil it is selling to Canada by 20%. This is an example of

VER (voluntary export restraint)

Most countries in the world have put non-tariff barriers on some service businesses because they want to stop people from foreign countries from operating those services. Which type of service companies are usually stopped from entering a foreign country?

All answers are correct (Insurance, Mail service, public transportation, and hospitals)

John lives in Brussels, Belgium. He wants to make some money and sees that his neighbor has left some old video games in the trash can. John asks the neighbor if he can have the video games and the neighbor says yes, he can. John takes all the video games and walks over to the local college. He then starts to sell the video games to students who walk by. This is an example of what?

the shadow economy

You are a supply chain manager for a Haier Corporation, A Chinese company that makes refrigerators. The company is moving some refrigerators from Mexico to Canada by truck. The trucks will drive through America, but none of the refrigerator doors will be taken off the truck. You are told that Haier must pay $100 to the U.S. government to drive the truck through America. This is an example of what?

transportation tariff

Volkswagen Corporation, a German company, had a system on their diesel cars that were sold in the United States to avoid emission standards, which made their cars perform better than the competition. assuming that the Senior Management agreed to do this, it would be an

exploitive

Bill, a vice president for General Motors, A U.S. corporation, read a news story today that said the U.S. government is considering ending the chicken tax. Why would Bill be concerned about this news?

Removing the chicken tax will allow pick-up trucks from all foreign countries to be sold at a lower price.

FDI may cause the following consequences:

Loss of jobs in home countries

creation of new jobs in host countries

save jobs in the host countries in case of acquisition

bid for labor and resources in host countries

creation of new jobs in home countries related o international management

all of the above are correct

Command economies can

outperform free markets for short periods

In class, we watched a video about the European Union's (EU) reaction to the US government placing tariffs on steel and aluminum coming from the EU. The EU then put tariffs on some US products including bourbon and Haley-Davidson motorcycles. Why did the EU choose those products for their tariffs?

The EU decided to pick products that would hurt American consumers

Your boss asks you what the most likely text statement is about the relationship between multinational corporations and their stakeholders. Which answer would you select?

The inability to adequately meet the long-term needs of all stakeholders increases the probability of an MNE failing.

Tammy works for Walmart in their US headquarters based in Bentonville, Arkansas. She is working on a team that is researching new countries for Walmart to enter. The company has decided it wants to enter one of the emerging countries with a few stores to test the marketplace. Tammy is asked by her boss to make a list of the economic characteristics of an 'emerging country'. Which of the following characteristics should Tammy have on her list?

I. accelerating growth

II. increasing FDI

III. increasing imports

IV. increasing exports

V. decreasing exports

VI. expanding consumption

VII. decreasing consumption

VIII. growing middle class

IX. decreasing middle class

I, II, III, IV, VI, VIII

In the Global Greening of GE case in chapter t, General Electric launched its Ecomagination Initiative. It included a number of goals and commitments. The company said it was necessary to do this because it not only helps the environment, but it is a necessary response to

customer demands

Your friend asks you what prosier might happen for geodes louse trade polestorismilo help make Poland's industries more competitive in international markets. What problem would Poland have?

the protecting countries' companies always become domestic competitors

A luxury watch company from Switzerland decided to lower(reduce) its export price to India to help compensate for import tariffs being placed on their watches by the government of India. This is an example of:

Optimum-Tariff Theory

Considering the host country's balance of payment effects, all the statements are correct, EXCEPT:

The net capital flows tend always to be positive because there was an investment. regardless of time

Assume Germany restricts a specific product from a specific foreign region. What would be the German government's most likely concern about the foreign country's response?

the foreign country restricting their exports in that industry

In the government and manages economic environment, not in line with a grand ideological philosophy, but with the goal of improving individual prosperity to legitimize and maintain the government's authority.

State Capitalism

When a country uses protectionism, who wins?

I. the government

II. domestic producers

III. the domestic consumers

IV. foreign businesses

V. import-competing companies

I, II and V

Which of the following is the best defense of (or reason for) the World Trade Organization?

WTO enforces trade agreements

The Economic Freedom Index measures the amount of economic freedom a person has to use his or her

initiative, effort, and passion

Which of the following is permitted by the Foreign Corrupt Practices Act?

a payment to a customs official to clear legitimate merchandise

The large Emerging Economies have these things in common

Liberalization of FDI, Increased Consumption, aspirations of technological leadership, infrastructure needs

In class, you watched a video that explained why some countries in the world are poor. One of the reasons was religious beliefs. Another key reason was

clan-based thinking

IKEA, a Swedish company, has decided to stop doing business in Russia because the Russian government has passed a new law that requires all retail stores in Russia to have at least 25% of all products in store to be made by small Russian companies. Russia is using what type of trade barrier?

local content law

In computing GNI the value of a ford truck that is manufactured in Mexico using capital from The United States would

be added to the GNI of the United States, but not the GNI of Mexico

Which of the following is most important to the effectiveness of an internal code of conduct?

ensuring that employees understand the code by requiring confirmation in writing

What is the most likely reason that consumers rarely (almost never) protest when import restrictions raise the prices they pay for a specific product?

Typically, although the total costs that consumers will pay for a given product are high, they are fairly small for each customer