Goods and services purchased abroad and brought into a country are called _________

_________ are all goods and services sold abroad and sent out of a country.

_________ is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.

A born global firm is a company that engages in international business from or near its inception.

Two major forces that underlie the expansion of globalization are falling barriers to trade and investment, and _________.

The purpose of the General Agreement on Tariffs and Trade (GATT) was to ________.

The three main goals of the World Trade Organization (WTO) are to help the free flow of trade, help negotiate the further opening of markets, and ________.

The ________ is an agency created to provide financing for national economic development efforts.

Which of the following was created to regulate fixed exchange rates and enforce the rules of the International monetary system?

Opponents argue that globalization ________.

Globalization is criticized because it ________.

Supporters affirm that globalization ________.

“Emerging markets” is a term that refers to an economy that experiences considerable economic growth and possesses some, but not all, characteristics of a developed economy. Emerging markets are countries that are transitioning from the “developing” phase to the “developed” phase.

Which of the following terms is defined as the set of values, beliefs, rules, and institutions held by a specific group of people?

Ethnocentricity can be defined as the _________

Detailed knowledge about a culture that enables people to work happily and effectively within it is called _________

Which of the following is defined as a group of people who share a unique way of life within a larger, dominant culture?

Which of the following is a cultural component that implies gauging the beauty and appeal of artwork?

Which of the following terms is used to refer to the ideas, beliefs, and customs to which people are emotionally attached?

Which of the following terms is used to refer to the positive or negative evaluations, feelings, and tendencies that individuals harbor toward objects or concepts?

Which of the following statements is true of attitudes?

A(n) ________ is anything that represents a culture's way of life, including gestures, material objects, traditions, and concepts.

________ is increasing the pace of both cultural diffusion and cultural change.

Which of the following refers to the process by which cultural traits spread from one culture to another?

Which of the following terms is used to refer to habits or ways of behaving in specific circumstances that are passed down through generations?

________ refers to the replacement of one culture's traditions, folk heroes, and artifacts with equivalents from another.

Which of the following terms is used to refer to the process of ranking people into social layers or classes?

________ refers to the ease with which individuals can move up or down a culture's social ladder.

A caste system is a system of social stratification in which ________

A class system is a system of social stratification in which _________

According to Hofstede's framework, organizations that have cultures that score high on ________ tend to be more hierarchical, with power deriving from prestige, force, and inheritance.

Peter comes from a culture that emphasizes hard work and promotes the entrepreneurial spirit within individuals. While he and his coworkers are encouraged to achieve their personal goals, they are also held responsible for their actions. According to Hofstede's framework, which of the following dimensions does this culture illustrate?

Which of the following terms refers to the broadest measure of economic development of a country?

________ is the value of all goods and services produced by the domestic economy over a one-year period.

The ________ of a country is its gross national product divided by its population.

The relative ability of two countries' currencies to buy the same basket of goods in those two countries is called ________.

An investor wants to invest in a country that has a high gross national income (GNI). Which of the following countries would most likely qualify as a prospect?

Which of the following terms is used to refer to the exchange of goods and services for other goods and services instead of money?

Which of the following measures the extent to which a government equitably provides its people with a long and healthy life, an education, and a decent standard of living?

A company is conducting a research on new markets by comparing countries in terms of their human development index (HDI) scores. The company wishes to expand into a market where individuals experience a very high level of total well-being. Which of the following countries would the company most likely choose?

Which of the following is true about economic development of a nation?

Which of the following statements is true of national production?

Nations having the poorest infrastructures and lowest personal incomes are called _________.

A country that has recently increased the portion of its national production and exports derived from industrial operations is called a(n) _________

Both GDP and GNP measure a nation's income per person

The human development index (HDI) demonstrates that high national income alone guarantees human progress.

The importance of trade for a nation can be measured by ________.

Most of the world merchandise trade is composed of trade in ________.

A majority of the total world merchandise trade occurs among ________.

The condition that results when the value of a nation's exports is greater than the value of its imports is called ________.

The condition that results when the value of a country's imports is greater than the value of its exports is called ________.

________ says that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports.

The measures of a nation's well-being other than the financial wealth accumulated through exports are irrelevant according to ________.

Which of the following was a prominent mercantilist nation?

According to mercantilism, the accumulation of national wealth depended on the _________.

The theory of absolute advantage destroys the mercantilist idea that international trade is a _________.

Which of the following is true about the theory of absolute advantage?

When a country is not able to produce a good more efficiently than other nations, but produces the good more efficiently than it does any other good, it is said to have a(n) ________.

The ________ theory states that countries produce and export goods that require resources available in abundance and import goods that require resources in short supply.

Factor proportions theory was developed by ________.

The purchase of physical assets or a significant amount of ownership of a company in another country to gain a measure of management control is called ________.

________ is an investment that does not involve obtaining a degree of control in a company.

Which of the following is a major driver of foreign direct investment?

Building a subsidiary abroad from the ground up is called a greenfield investment.

A current account deficit occurs when a country exports more goods and receives more income from abroad than it imports and pays abroad.

Which of the following is a reason behind intervention by a host country on matters related to FDI?

Ownership restrictions and performance demands are used by _________

Home nations discourage foreign direct investment outflows because it _________.

A home country encourages outflows of foreign direct investment because it _________.

Which of the following methods is being used when a host country provides lower tax rates and low interest loans to firms from abroad for encouraging inflows of foreign direct investment?

Tax breaks on profits earned abroad and political pressures are used by ________.

Which of the following is used by home country governments to limit outbound foreign direct investment?

Which of the following is used by home-country governments to promote outbound foreign direct investment?

Scenario: Blickinstock at the Crossroads Auto parts supplier, Blickinstock Ltd., would like to expand its presence in Latin America. To that end, Blickinstock is trying to decide whether to purchase an existing company in a remote region of Argentina or build its own subsidiary. Keith Moon, Blickinstock's vice president of global business development, will be making a presentation to the board outlining the company's optionsBlickinstock has identified a company that it can acquire or merge with. Which of the following statements would represent the least likely reason for Blickinstock to go ahead with the merger

Which of the following statements would represent the least likely reason for Blickinstock to go ahead with the merger?

The process whereby countries in a geographic area cooperate with one another to reduce or eliminate barriers to the international flow of products, people, or capital is called ________.

Regional economic integration is also referred to as ________.

A group of nations in a geographic area undergoing economic integration is called a ________.

Which of the following is an important goal of regional economic integration?

The common currency of the European Union is known as the ________.

As of July 1, 2020, NAFTA has been replaced by _______

Economic integration whereby countries remove all barriers to trade among themselves, but each country determines its own barriers against nonmembers, is called a(n) _______.

In 1951, Belgium, France, West Germany, Italy, Luxembourg, and the Netherlands signed the Treaty of Paris and created the-

Which of the following is true of the euro?

The European Free Trade Association was formed in 1960 to focus on trade in ________.

The Free Trade Area of the Americas (FTAA) is a trade agreement ________.

The major objective of the Association of Southeast Asian Nations (ASEAN) is to ________.

The stated aim of the organization for Asia Pacific Economic Cooperation (APEC) is to ________.

What is the largest trading bloc in the world up to now?

Company debt normally takes the form of ________.

A loan in which the borrower promises to repay the borrowed amount plus a predetermined rate of interest is called a(n) ________.

Which of the following is a debt instrument that specifies the timing of principal and interest payments?

________ refers to shares of ownership in a company's assets that give shareholders a claim on the company's future cash flows.

The world's three most important financial centers are ________.

The market in which currencies are bought and sold and their prices determined is called the ________.

Which of the following represents a country or territory whose financial sector features very few regulations and few, if any, taxes?

One of the major forces responsible for the rapid growth rate of the international capital market is _________.

Which financial center has the largest scale?

Offshore financial centers offer services to non-residents, and often associated with lax regulation (such as money laundering)

A capital market is a system that allocates monetary resources in the form of debt and equity according to their most efficient uses.

Two most important financial resources allocated by the capital market are money and debt

When a country's currency is weak, the price of its ________.

A company selling in a country with a strong currency while sourcing from a country with a weak currency ________.

Which of the following is the intentional lowering of a currency's value by its government?

Which of the following is true of inflation?

________ is an activity under the monetary policy of a nation.

The French government buying its own securities on the open market is part of the ________ of France.

The lowering of taxes in the U.S. by its government is an example of the ________.

To cool off an inflationary economy, a government might ________.

A company can improve its profits by selling in a country with a strong currency and sourcing from a country with a weak currency.

In the strategy-formulation process of firms, in order to analyze the firms' primary and supporting activities, what analysis should be used?

McDonald's is a global fast-food giant. The company offers its iconic Big Mac and fries in virtually every country. However, in India market, where a significant portion of the population follows a vegetarian diet, McDonald's offers a range of vegetarian options such as the McAloo Tikki burger. This localization allows them to better meet the tastes and preferences of the local market. This is an example of

The strategy of Tesla focuses on serving the needs of a narrowly defined market segment by being the low-cost leader, by differentiating its product, or both. This is an example of a focus strategy

Let's say a team decides to create a new fitness app. In this team, software developers are responsible for coding and programming the app, ensuring its functionality and compatibility across different devices. The software developers are responsible for coding and programming the app, the user experience (UX) designer focuses on creating an intuitive and user-friendly interface for the app, and the graphic designer designs visual elements. This is an example of

Which of the following is the first stage of the strategy formulation process?

The objectives at the ________ of an organization are typically more precise and contain numerical targets of performance.

The main benefit of a multidomestic strategy is that it ________.

The main drawback of a multinational strategy is that it does not allow a company to ________.

Which of the following is a special ability of a company that competitors find extremely difficult to equal?

The main benefit of a global strategy is that it allows a company to ________.

Which of the following is a characteristic based on which products are typically differentiated? A. Brand loyalty B. Brand equity C. Product design D. Product cost

Free-market economies tend to levy high taxes on business profits whereas socialist economic systems normally levy lighter taxes.

A multinational strategy is most appropriate for companies that do not have foreign direct investments but rather export their products to foreign markets.