WGU; C200; Global Economics; Chapter 2. Exam Questions and answers, 100% Accurate. VERIFIED 2024

Formal institutions include all of the following EXCEPT: a. Cultures b. Regulations c. Rules d. Laws - -Cultures What is a cognitive pillar? a. The manager's way of looking at employees b. The way people behave in an organization c. The way the organization views their culture d. The internalized values and beliefs that guide behavior - -The internalized values and beliefs that guide behavior The key role of institutions is to: a. reduce uncertainty. b. expand the range of acceptable actions. c. restrict actions of competitors. d. increase transaction costs. - -reduce uncertainty. Which of the following is NOT a proposition of the institution-based view of global business? a. Formal and informal institutions combine to govern firm behavior. b. In situations where formal constraints are unclear, informal constraints will play a larger role in reducing uncertainty.