BUSN quizes
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1. Question : (TCO 3) Last year, the nation of Tigerland imported goods totaling $500 million and exported products totaling $386 million. Tigerland experienced a(n):
Student Answer:unfavorable balance of trade
favorable balance of trade
trade surplus
benefit from membership in a free trade zone
Instructor Explanation: Chapter 3 Page 64
Points Received: 1 of 1
Comments:
2. Question : (TCO 3) The difference between money coming into a country (from exports) and money leaving the country (for imports) plus money flows from other factors such as tourism, foreign aid, and military expenditures is referred to as the:
Student Answer:balance of payments
balance of trade
balance of money flows
exchange rate
Instructor Explanation: Chapter 3 Page 64
Points Received: 1 of 1
Comments:
3. Question : (TCO 3) Country A is an extremely efficient producer of tin. However, its climate and terrain make it difficult to produce corn. According to the theory of comparative advantage, Country A should:
Student Answer:produce both tin and corn in order to remain self-sufficient
watch the global market to see which product is bringing
MultipleChoice 3 True
0 1864892010 MultipleChoice 3
1864892011 MultipleChoice 4 True
0 MultipleChoice 4
the highest price
import the resources needed to produce corn
concentrate its production on tin and buy corn from an efficient producer
Instructor Explanation: Chapter 3 Page 61
Points Received: 1 of 1
Comments:
4. Question : (TCO 3) An American firm recently criticized a Chinese steel producer for charging a lower price for its products in the United States than it charges in China. If proven to be true, the Chinese firm has engaged in:
Student Answer:industrial protectionism
a low labor cost strategy
dumping
exchange rate manipulation
Instructor Explanation: Chapter 3 Page 65
Points Received: 1 of 1
Comments:
5. Question : (TCO 1) Workers in the nation of Argentina prefer managers who forcefully tell employees what to do and how to do it. Conversely, employees in the U.S. prefer to participate in decision making in the workplace. This __________ difference between Argentinian workers and U.S. workers represents a management challenge for firms trading in the global market
Student Answer:geo-political
economic
socio-cultural
1864892012 MultipleChoice 8 True
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1864892013 MultipleChoice 10 True
0 1864892013 MultipleChoice 10
regulatory
Instructor Explanation: Chapter 3 Page 72
Points Received: 0 of 1
Comments:
6. Question : (TCO 3) Hennessy Hardware, a U.S. retailer, buys much of its inventory from Asian countries. Hennessy Hardware would benefit if the value of the dollar ________ relative to the currencies of the countries from which Hennessy imports
Student Answer:rose
fell
remained constant
floated unpredictably
Instructor Explanation: Chapter 3 Page 74
Points Received: 1 of 1
Comments:
7. Question : (TCO 3) The strength of the U.S. economy helps explain why:
Student Answer:foreign direct investment in the United States has grown
steadily
the United States enjoys a favorable balance of trade
China and Japan formed a common market to become more competitive
the U.S. is able to avoid becoming a debtor nation
Instructor Explanation: Chapter 3 Page 71
Points Received: 1 of 1
Comments:
1864892014 MultipleChoice 15 False
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1864892015 MultipleChoice 16 True
0 1864892015 MultipleChoice 16
1864892016 MultipleChoice 19 True
8. Question : (TCO 3) Patrick's Products has a manufacturing plant near Chicago. The plant specializes in compact washers and dryers for countries in which consumers have less living space. Patrick's Products participates in the global market through:
Student Answer:importing
dumping
exporting
balancing trade
Instructor Explanation: Chapter 3 Page 64
Points Received: 1 of 1
Comments:
9. Question : (TCO 1) A form of foreign direct investment, in which a domestic company purchases a company in a foreign country to produce a similar product or service is a:
Student Answer:licensor
joint venture
foreign subsidiary
host company
Instructor Explanation: Chapter 3 Page 70
Points Received: 0 of 1
Comments:
10. Question : (TCO 3) A major concern voiced by U.S. critics of the North American Free Trade Agreement (NAFTA) is that it would result in:
Student Answer:higher prices for consumer goods
0 1864892016 MultipleChoice 19
1864892017 MultipleChoice 23 True
0 1864892017 MultipleChoice 23
1864892018 MultipleChoice 26 False
0 1864892018 MultipleChoice 26
loss of jobs in the U.S. economy
national security problems
increased illegal immigration from Mexico
Instructor Explanation: Chapter 3 Page 78
Points Received: 1 of 1
Comments:
11. Question : (TCO 3) Current trade data indicates that the nation of Bogusland exports more to other nations than it imports. Bogusland has:
Student Answer:an unfavorable balance of trade
a trade surplus
a trade deficit
a low balance of trade
Instructor Explanation: Chapter 3 Page 64
Points Received: 1 of 1
Comments:
12. Question : (TCO 3) __________ occurs when a country has a monopoly on producing a product or is able to produce it at a cost well below that of all other countries
Student Answer:Comparative advantage
Absolute advantage
Complete advantage
Dumping advantage
Instructor Explanation: Chapter 3 Page 62
Points Received: 1 of 1
1864892019 MultipleChoice 28 True
0 1864892019 MultipleChoice 28
1864892020 MultipleChoice 31 True
0 1864892020 MultipleChoice 31
Comments:
13. Question : (TCO 3) Many of the toy products sold in the United States are imported from Taiwan because the Taiwanese can produce these products more efficiently than U.S. companies. This is an example of:
Student Answer:Bilateral advantage
Comparative advantage
Absolute advantage
Unilateral advantage
Instructor Explanation: Chapter 3 Page 61
Points Received: 1 of 1
Comments:
14. Question : (TCO 3) _______________ are specialists that match buyers and sellers from different countries and provide services to ease the process of entering global markets
Student Answer:Export trading companies
Licensees
Strategic alliances
Keiretsu
Instructor Explanation: Chapter 3 Page 67
Points Received: 1 of 1
Comments:
15. Question : (TCO 3) An advantage of forming a joint venture is:
Student Answer:no shared costs or risk
1864892021 MultipleChoice 35 True
0 1864892021 MultipleChoice 35
1864892022 MultipleChoice 37 True
0 1864892022 MultipleChoice 37
1864892023 MultipleChoice 41 True
0 1864892023 MultipleChoice 41
a perpetual arrangement
it's a good strategy for entering new markets in which you have never had a presence
it's a great way to enter new markets without divulging any marketing or management strategy to the other member of the joint venture
Instructor Explanation: Chapter 3 Page 70
Points Received: 1 of 1
1. Question : (TCO 2) Obeying the law is ________ ethical behavior
Student Answer:essentially the same as
the first step toward
the opposite of
unlikely to lead to
Instructor Explanation: Chapter 4 Page 90
Points Received: 1 of 1
Comments:
2. Question : (TCO 2) A(n) ________-based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers
Student Answer:legal
corporate responsibility
compliance
integrity
Instructor Explanation: Chapter 4 Page 96
1871843086 MultipleChoice 2 True
0 1871843086 MultipleChoice 2
Points Received: 1 of 1
Comments:
3. Question : (TCO 2) The purpose of a(n) ________ is to evaluate an organization's progress toward implementing programs to achieve social responsibility
Student Answer:accountability review
social audit
federal disclosure statement
annual report
Instructor Explanation: Chapter 4 Page 104
Points Received: 1 of 1
Comments:
4. Question : (TCO 2) Ethical behavior covers a ________ range of conduct than does legal behavior
Student Answer:wider
more limited
smaller
less demanding
Instructor Explanation: Chapter 4 Page 90
Points Received: 1 of 1
Comments:
5. Question : (TCO 2) Business relationships often present ethical dilemmas that are ________
1871843087 MultipleChoice 6 True
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1871843088 MultipleChoice 8 True
0 1871843088 MultipleChoice 8
1871843089 MultipleChoice 12 True
0 1871843089 MultipleChoice 12
Student Answer:not easily resolved
easily resolved by following the relevant laws
best resolved by creating a lose-lose situation
irrelevant and therefore require no action
Instructor Explanation: Chapter 4 Page 96
Points Received: 1 of 1
Comments:
6. Question : (TCO 2) Issues of social responsibility and ethical behavior are:
Student Answer:the result of greed found in capitalist countries
found primarily in countries with a low standard of living
a concern only of business professors
found in many different countries
Instructor Explanation: Chapter 4 Page 105
Points Received: 1 of 1
Comments:
7. Question : (TCO 2) The vice president of human resources at Ato Enterprises feels strongly that workers need to realize the benefits of their hard work. This reveals the firm's responsibility to:
Student Answer:customers
investors
society
employees
Instructor Explanation: Chapter 4 Page 102
1871843090 MultipleChoice 13 True
0 1871843090 MultipleChoice 13
1871843091 MultipleChoice 16 True
0 1871843091 MultipleChoice 16
Points Received: 1 of 1
Comments:
8. Question : (TCO 2) Which of the following statements describes ethical behavior in the U.S?
Student Answer:Due to the diverse cultures that make up the U.S., it is
difficult to identify common standards of ethical behavior
The only common standards of ethical behavior in the U.S. are reflected in religious teachings
We can find common moral values that many Americans uphold, including respect for human life, self-control, honesty, integrity, and courage
Americans will generally describe the golden rule as the only statement of value that they uphold
Instructor Explanation: Chapter 4 Page 92
Points Received: 1 of 1
Comments:
9. Question : (TCO 2) Many Americans define ethical behavior according to the situation in which they find themselves. This suggests that there may be situations where ________ to cheat, steal, or lie
Student Answer:it is absolutely wrong
it might be OK
business people are expected
capitalism forces people
Instructor Explanation: Chapter 4 Page 96
Points Received: 1 of 1
Comments:
1871843092 MultipleChoice 21 True
0 1871843092 MultipleChoice 21
1871843093 MultipleChoice 23 True
0 1871843093 MultipleChoice 23
1871843094 MultipleChoice 27 True
0 1871843094 MultipleChoice 27
10. Question : (TCO 2) With respect to Arthur Andersen, a large and well-known public accounting and consulting firm, the Legal Briefcase box, "Paying the Price" explains:
Student Answer:how Arthur Andersen's connection with the Enron scandal
was not enough to bring it down
how as soon as Arthur Andersen cleared itself by paying fines to the federal government, it went back to "business as usual"
that Arthur Andersen's prior conviction was overturned, but it never recovered
that Arthur Andersen's consulting arm always behaved ethically, so it was saved
Instructor Explanation: Chapter 4 Page 91
Points Received: 1 of 1
Comments:
11. Question : (TCO 2) A U.S. senator has indicated that for a generous contribution to his reelection fund, he would ignore your company’s apparent violation of several child labor laws. Which of the following "ethics check questions" would you consider first?
Student Answer:Is it legal?
Is it fair and balanced?
How will it make me feel about myself?
Is it a generous amount?
Instructor Explanation: Chapter 4 Page 94
Points Received: 1 of 1
Comments:
12. Question : (TCO 2) Relationships between businesses and among nations
1871843095 MultipleChoice 28 True
0 1871843095 MultipleChoice 28
1871843096 MultipleChoice 31 True
0 1871843096 MultipleChoice 31
Student Answer:should be based on international law, exclusively
should be based on fairness, honesty, openness, and moral integrity
should be scrutinized carefully to make some determination as to whether both sides have the same type of leader behavior when it comes to assigning work
will be adversarial because seldom does either side believe in win-win situations
Instructor Explanation: Chapter 4 Page 96
Points Received: 1 of 1
Comments:
13. Question : (TCO 2) Creating competition between employees within the corporation:
Student Answer:can encourage employees to deceive customers
should focus on improving corporate profit
must be ignored when corporate ethics are developed
can bring out the best in employees
Instructor Explanation: Chapter 4 Page 96
Points Received: 1 of 1
Comments:
14. Question : (TCO 2) Which of the following would most likely involve ethical concerns?
Student Answer:Overstating an expense report
Forecasting sales for the next year
Developing the marketing plan for the next year
Improving working conditions
1871843097 MultipleChoice 35 True
0 1871843097 MultipleChoice 35
1871843098 MultipleChoice 37 True
0 1871843098 MultipleChoice 37
Instructor Explanation: Chapter 4 Page 96
Points Received: 1 of 1
Comments:
15. Question : (TCO 2) When a manager is concerned about the legality of firing union workers in order to hire workers willing to work for less pay, a(an) ________-based ethics code is in place.
Student Answer:legal
corporate responsibility
compliance
integrity
Instructor Explanation: Chapter 4 Page 96
1871843099 MultipleChoice 40 True
0 1871843099 MultipleChoice 40