Germany HW Exam 1

In 2014, violent protests occurred in _____ over its relationship with the EU, leading to conflict with Russia.

Croatia

Turkey

Iceland

Ukraine

Ukraine

"Eurozone" is the term

- Investors use to describe the London, Paris, and Frankfurt stock exchanges

- the U.S. State Department uses to describe all countries west of the Ural Mountains

- Describing the 19 members of the European Union that have adopted the euro as their national currency

- Describing the 27 members of the European Union

Describing the 19 members of the European Union that have adopted the euro as their national currency

The ____ was created in 1957.

European Economic Community

European Common Market

Euro

European Union

European Economic Community

Which treaty laid the foundation for the creation of the euro by establishing "convergence criteria" for Eurozone membership?

The Treaty of Maastricht

The Treaty of Rome

The Treaty of Lisbon

The Treaty of Nice

The Treaty of Maastricht

How many countries belong to the European Union?

12

27

19

20

27

According to the lecture, Germany's GDP is just under ____ trillion.

5

7

6

4

4

Germany experienced a downturn in international trade during

when the euro was created

when East and West Germany reunited

the early 2000s EU expansion

the Great Recession

The Great Recession

Compared with the US economy, the German economy is more focused on _____ than ______.

services; manufacturing

commodities; investment

investment; commodities

manufacturing; services

manufacturing; services

All of the following are top German industries EXCEPT

mining

mechanical engineering

chemicals

automotive production

mining

Which US retailer failed when they attempted to enter the German market?

Target

Walmart

Macy's

Home Depot

Walmart

_____ is the most socially mobile country of all the G-7 nations.

Germany

the UK

the US

Denmark

Germany

According to the lecture, the average German would prefer to avoid situations with high _____.

low costs

high costs

high uncertainity

low uncertainity

high uncertainity

According to the lecture, the German government accused Walmart of

employing too many people

setting its prices too low

settings its prices too high

not employing enough people

setting its prices too low

T/F: In Germany, the government collects a membership tax for the Catholic and Protestant churches.

True

Germany ranks _____ on the US Chamber International IP Index.

3rd

4th

5th

2nd

4th

T/F: The Green Party has been a strong political force in Germany in recent years.

True

Your boss is considering partnering with either an American company or a German company. He is leaning toward the American company because, he says, when he compares the two companies' financial statements side-by-side, the German business looks weaker than the U.S. option. What do you advise him to do?

- Advise taking a second, closer, look at the financial statements and factor in the different accounting methods that German firms use

- Advise looking at a Chinese company instead since Chinese laws are very favorable to American-Chinese business partnerships

- Advise going with the American company because U.S. businesses almost always outperform European ones

- Agree with your boss and encourage him to move forward with the partnership

Advise taking a second, closer, look at the financial statements and factor in the different accounting methods that German firms use

In a(n) ______, members eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate barriers to the movement of the factors of production.

Economic Union

Common Market

Free Trade Area

Customs Union

Common Market

What sector is required by German law to regulate hate speech?

Advertising

Automative

Banking

Social Media

Social Media

The World Justice Project Rule of Law Index demonstrates that

- countries with poorly-developed legal systems tend to have lower incomes

- there is no correlation between legal stability and economic growth

- countries with well-developed legal systems tend to have lower incomes

- countries with poorly-developed legal systems tend to have higher incomes

countries with poorly-developed legal systems tend to have lower incomes

All of the following are disadvantages of joining the Eurozone EXCEPT

- Exchange-rate risks are lower for companies inside the Eurozone

- The ECB controls the Eurozone's interest rate

- Eurozone members have a limited ability to increase government spending during recessions

- The ECB controls the Eurozone's money supply

Exchange-rate risks are lower for companies inside the Eurozone

Which EU institution is responsible for managing the EU's currency, the euro?

European Central Bank

European Commission

European Currency Organization

European Central Reserve

European Central Bank

Which major EU power is electing a new government in September 2021?

France

Italy

Germany

Belgium

Germany

What mostly determines the value of a euro?

Supply and demand

The value of the US dollar

the value of the British pound

the ECB

supply and demand

What mostly determines the value of a euro?

Supply and demand

The value of the US dollar

the value of the British pound

the ECB

supply and demand

According to the lecture, Germany is the world's ___-largest exporter.

3rd

2nd

4th

5th

3rd

T/F: Although France is currently easing its monetary policy, Germany is tightening its interest rates.

False

According to the Hofstede model, Germany is _____ than the US.

more individualist

less rational

more rational

less individualist

more individualist

According to the lecture, which EU member has a very negative view of Germany?

Germany

none of them

Greece

France

Greece

According to the lecture, Germany is home to large immigrant groups from all of the following countries EXCEPT

Russia

Turkey

Austria

Poland

Austria

According to Hall's model, which country is lower context than Germany?

Denmark

Norway

Switzerland

Sweden

Switzerland

According to the UN Human Development Index, Germany is ranked ____.

3rd

6th

4th

5th

6th

T/F: The Green Party has been a strong political force in Germany in recent years.

True

All of the following are advantages of economic integration EXCEPT

cheaper input costs

expanded customer base

improved ability to compete outside trade bloc

higher consumer prices

higher consumer prices

In _____ law countries, judges serve as _____.

Religious; advocates

Common; neutral referees

Bureaucratic; advocates

Civil; neutral referees

Common; neutral referees

The EU's Common Market allows ____ to flow freely among EU members.

goods, services, labor, and capital

goods and services

goods, services, and labor

goods, services, labor, capital, and technology

goods, services, labor, capital, and technology

The CAP is the EU's

- program of large agricultural subsidies

- law requiring members to contribute to a common fund

- Committee on Applied Production

- Council on Agricultural Policy

In _____ law countries, judges serve as _____.

Religious; advocates

Common; neutral referees

Bureaucratic; advocates

Civil; neutral referees

Common; neutral referees

The EU's Common Market allows ____ to flow freely among EU members.

goods, services, labor, and capital

goods and services

goods, services, and labor

goods, services, labor, capital, and technology

goods, services, labor, capital, and technology

The CAP is the EU's

- program of large agricultural subsidies

- law requiring members to contribute to a common fund

- Committee on Applied Production

- Council on Agricultural Policy

program of large agricultural subsidies

According to the lecture, which EU member has a very negative view of Germany?

Germany

none of them

Greece

France

Greece

According to the lecture, exports comprise almost ____ of Germany's GDP.

1/5

1/3

1/2

1/4

1/2