,A company is considering establishing a subsidiary in a new host country and
wishes to prepare its expatriates to adapt to the local environment.
How should this company prepare its expatriates?
Negotiation
Operational training
Repatriation
Cultural Training
CORRECT ANSWER: Cultural training
Which of these agreements or treaties was to combat increased temperatures
of global climate change?
Versailles
Paris
Antarctic
Maastricht
CORRECT ANSWER: Paris
Which governmental entity was created to provide regulatory authority
regarding pollution by industry?
CORRECT ANSWER: Environmental Protection Agency
Which type of duty is required to take care of the collective environment across
the nation?
Shared
Assigned
Customs
Individual
CORRECT ANSWER: Shared
What makes the enforcement of United Nations Environmental Program
regulations difficult?
Sovereign rights of nations
Peacekeeping missions of nations
World Food Program distributions
Pure competitive markets
CORRECT ANSWER: Sovereign rights of nations
Which action is used by companies wishing to avoid working with vendors who
use sweatshops?
,Sending a whistle blower to the job sites to ensure the vendor practices safe
working conditions
Allowing vendor practices to be flagged by nongovernmental organizations such
as the National Labor Committee
Establishing national child labor laws and requiring vendors to comply with them
Developing and imposing a company internal code of conduct for vendor labor
practices
CORRECT ANSWER: developing and imposing a company internal code of
conduct for vendor labor practices
What happens to consumer surplus when tariffs and quotas are discontinued?
CORRECT ANSWER: They increase
Which type of tariff is put in place to specifically ensure that domestic industries
are given an advantage?
CORRECT ANSWER: Protective
What is a benefit of implementing a system of free trade?
CORRECT ANSWER: Reduced tariffs would result in lower costs of imported
raw materials.
How are free trade agreements handled differently than treaties in the United
States?
CORRECT ANSWER: Treaties must be approved by the Senate, whereas a free
trade agreement must pass both houses of Congress.
Treaties must be approved by the Senate, whereas a free trade agreement must
pass both houses of Congress.
CORRECT ANSWER: Tariffs
An airplane manufacturer outsources the manufacture of some its parts and
sub-assemblies. They are then returned to the manufacturer's main plant for
final assembly.
CORRECT ANSWER: Value chain
Country A exports more goods to Country B than it imports from Country B.
Country A receives more monetary gain by using this practice.
Which relationship does Country A have with Country B?
CORRECT ANSWER: Trade surplus
, Country A has been criticized by other countries for giving generous tax credits
to its corn farmers, which in turn, enables the country's farmers to sell corn on
the international markets cheaper than all other countries.
Which term is used by other countries to describe this practice?
CORRECT ANSWER: Government subsidies
A farmer knows that it takes 100 hours of labor to produce 100 bushels of corn.
It only takes 50 hours of labor to produce 100 bushels of soy. Currently, a bushel
of corn is selling at three times a bushel of soy.
Which type of cost should the farmer use to determine what to plant?
CORRECT ANSWER: Opportunity
A country produces goods more efficiently than all other countries in the same
industry.
Which type of advantage does this country have?
CORRECT ANSWER: Absolute
Country A exports farming equipment to Country B, while Country B exports car
manufacturing equipment to Country A. Both countries are highly developed
and could develop these industries separately but instead made the decision to
export and import these products from each other.
Which unique condition caused this practice between the two countries?
CORRECT ANSWER: Skill specialization
A company produces the same product over and over, and it has caused the
manufacturing cost of the product to become cheaper and more competitive in
international markets than similar products in the industry.
Which approach is this company using to achieve this ability?
CORRECT ANSWER: Economies of scale
A country with a new economy implemented trade protectionism in relation to
countries with more developed economies.
Why did the country take this action?
CORRECT ANSWER: To restrict international economic trade
How do anti dumping laws protect a domestic market?
CORRECT ANSWER: They prevent foreign companies from selling goods and
services at or below cost.
wishes to prepare its expatriates to adapt to the local environment.
How should this company prepare its expatriates?
Negotiation
Operational training
Repatriation
Cultural Training
CORRECT ANSWER: Cultural training
Which of these agreements or treaties was to combat increased temperatures
of global climate change?
Versailles
Paris
Antarctic
Maastricht
CORRECT ANSWER: Paris
Which governmental entity was created to provide regulatory authority
regarding pollution by industry?
CORRECT ANSWER: Environmental Protection Agency
Which type of duty is required to take care of the collective environment across
the nation?
Shared
Assigned
Customs
Individual
CORRECT ANSWER: Shared
What makes the enforcement of United Nations Environmental Program
regulations difficult?
Sovereign rights of nations
Peacekeeping missions of nations
World Food Program distributions
Pure competitive markets
CORRECT ANSWER: Sovereign rights of nations
Which action is used by companies wishing to avoid working with vendors who
use sweatshops?
,Sending a whistle blower to the job sites to ensure the vendor practices safe
working conditions
Allowing vendor practices to be flagged by nongovernmental organizations such
as the National Labor Committee
Establishing national child labor laws and requiring vendors to comply with them
Developing and imposing a company internal code of conduct for vendor labor
practices
CORRECT ANSWER: developing and imposing a company internal code of
conduct for vendor labor practices
What happens to consumer surplus when tariffs and quotas are discontinued?
CORRECT ANSWER: They increase
Which type of tariff is put in place to specifically ensure that domestic industries
are given an advantage?
CORRECT ANSWER: Protective
What is a benefit of implementing a system of free trade?
CORRECT ANSWER: Reduced tariffs would result in lower costs of imported
raw materials.
How are free trade agreements handled differently than treaties in the United
States?
CORRECT ANSWER: Treaties must be approved by the Senate, whereas a free
trade agreement must pass both houses of Congress.
Treaties must be approved by the Senate, whereas a free trade agreement must
pass both houses of Congress.
CORRECT ANSWER: Tariffs
An airplane manufacturer outsources the manufacture of some its parts and
sub-assemblies. They are then returned to the manufacturer's main plant for
final assembly.
CORRECT ANSWER: Value chain
Country A exports more goods to Country B than it imports from Country B.
Country A receives more monetary gain by using this practice.
Which relationship does Country A have with Country B?
CORRECT ANSWER: Trade surplus
, Country A has been criticized by other countries for giving generous tax credits
to its corn farmers, which in turn, enables the country's farmers to sell corn on
the international markets cheaper than all other countries.
Which term is used by other countries to describe this practice?
CORRECT ANSWER: Government subsidies
A farmer knows that it takes 100 hours of labor to produce 100 bushels of corn.
It only takes 50 hours of labor to produce 100 bushels of soy. Currently, a bushel
of corn is selling at three times a bushel of soy.
Which type of cost should the farmer use to determine what to plant?
CORRECT ANSWER: Opportunity
A country produces goods more efficiently than all other countries in the same
industry.
Which type of advantage does this country have?
CORRECT ANSWER: Absolute
Country A exports farming equipment to Country B, while Country B exports car
manufacturing equipment to Country A. Both countries are highly developed
and could develop these industries separately but instead made the decision to
export and import these products from each other.
Which unique condition caused this practice between the two countries?
CORRECT ANSWER: Skill specialization
A company produces the same product over and over, and it has caused the
manufacturing cost of the product to become cheaper and more competitive in
international markets than similar products in the industry.
Which approach is this company using to achieve this ability?
CORRECT ANSWER: Economies of scale
A country with a new economy implemented trade protectionism in relation to
countries with more developed economies.
Why did the country take this action?
CORRECT ANSWER: To restrict international economic trade
How do anti dumping laws protect a domestic market?
CORRECT ANSWER: They prevent foreign companies from selling goods and
services at or below cost.
