GEB 3373 Exam 1 questions and
answers rated
self-reference criterion - correct answer ✔✔ The unconscious use of one's own culture to help
assess new surroundings
cross-cultural literacy - correct answer ✔✔ Ability to understand and operate in more than one
culture
emerging markets - correct answer ✔✔ Countries whose recent growth or prospects for future
growth exceed that of traditional markets
BRIC Countries - correct answer ✔✔ Brazil, Russia, India and China. Emerging markets that are
growing extremely rapidly.
Big Ten - correct answer ✔✔ Argentina, Brazil, China, India, Indonesia, Mexico, Poland, South
Africa, South Korea and Turkey. Emerging markets.
hedging - correct answer ✔✔ A strategy in which a person or company takes action now to
offset or minimize future risks.
True or false: U.S. exports exceed U.S. imports. - correct answer ✔✔ False. Our imports exceed
our exports, which is why we are said to be running a trade deficit. 10.8% of GDP for exports in
2009
What is the world's lingua franca? - correct answer ✔✔ English
,What three factors affect a person's economic mobility? - correct answer ✔✔ Education,
savings and neighborhood poverty.
The 'Great Trade Collapse' - correct answer ✔✔ Refers to the significant decrease in world trade
and FDI immediately after the recent financial crisis and global recession.
forum shopping - correct answer ✔✔ Attempting to seek a court system or judge that will be
most sympathetic to an attorney's client.
uncertainty orientation - correct answer ✔✔ Cultural beliefs about uncertainty and ambiguity
privatization - correct answer ✔✔ Sale of publicly owned property to private investors
power tolerance - correct answer ✔✔ Cultural belief that the use of power and authority is NOT
acceptable simply on the basis of position in a hierarchy.
confiscation - correct answer ✔✔ Involuntary transfer of property, with little or no
compensation, from a privately owned firm to the host country's government
power respect - correct answer ✔✔ Cultural belief that the use of power and authority is
acceptable simply on the basis of position in a hierarchy
power orientation - correct answer ✔✔ Cultural beliefs about the appropriateness of power
and authority in hierarchies such as business organizations.
expropriation - correct answer ✔✔ Involuntary transfer of property, with compensation, from a
privately owned firm to the host country government.
collectivism - correct answer ✔✔ The belief that the group comes first
, nationalization - correct answer ✔✔ Transfer of property from a privately owned firm to the
government
dual-use products - correct answer ✔✔ Products that may be used for both civilian and military
purposes
individualism - correct answer ✔✔ The cultural belief that the person comes first
extraterritoriality - correct answer ✔✔ Application of a country's laws to activities occurring
outside its borders
social orientation - correct answer ✔✔ Cultural beliefs about the relative importance of the
individual and the groups to which an individual belongs
IFRS - correct answer ✔✔ International Financial Reporting Standards. International accounting
standards promulgated by the International Accounting Standards Board.
accounting reserves - correct answer ✔✔ Reserves created by firms for foreseeable expense
technology transfer - correct answer ✔✔ The transfer of technology from one country to
another
cultural convergence - correct answer ✔✔ Convergence of two or more cultures
time orientation - correct answer ✔✔ Cultural beliefs regarding long-term versus short term
outlooks on work, life, and other aspects of society.
answers rated
self-reference criterion - correct answer ✔✔ The unconscious use of one's own culture to help
assess new surroundings
cross-cultural literacy - correct answer ✔✔ Ability to understand and operate in more than one
culture
emerging markets - correct answer ✔✔ Countries whose recent growth or prospects for future
growth exceed that of traditional markets
BRIC Countries - correct answer ✔✔ Brazil, Russia, India and China. Emerging markets that are
growing extremely rapidly.
Big Ten - correct answer ✔✔ Argentina, Brazil, China, India, Indonesia, Mexico, Poland, South
Africa, South Korea and Turkey. Emerging markets.
hedging - correct answer ✔✔ A strategy in which a person or company takes action now to
offset or minimize future risks.
True or false: U.S. exports exceed U.S. imports. - correct answer ✔✔ False. Our imports exceed
our exports, which is why we are said to be running a trade deficit. 10.8% of GDP for exports in
2009
What is the world's lingua franca? - correct answer ✔✔ English
,What three factors affect a person's economic mobility? - correct answer ✔✔ Education,
savings and neighborhood poverty.
The 'Great Trade Collapse' - correct answer ✔✔ Refers to the significant decrease in world trade
and FDI immediately after the recent financial crisis and global recession.
forum shopping - correct answer ✔✔ Attempting to seek a court system or judge that will be
most sympathetic to an attorney's client.
uncertainty orientation - correct answer ✔✔ Cultural beliefs about uncertainty and ambiguity
privatization - correct answer ✔✔ Sale of publicly owned property to private investors
power tolerance - correct answer ✔✔ Cultural belief that the use of power and authority is NOT
acceptable simply on the basis of position in a hierarchy.
confiscation - correct answer ✔✔ Involuntary transfer of property, with little or no
compensation, from a privately owned firm to the host country's government
power respect - correct answer ✔✔ Cultural belief that the use of power and authority is
acceptable simply on the basis of position in a hierarchy
power orientation - correct answer ✔✔ Cultural beliefs about the appropriateness of power
and authority in hierarchies such as business organizations.
expropriation - correct answer ✔✔ Involuntary transfer of property, with compensation, from a
privately owned firm to the host country government.
collectivism - correct answer ✔✔ The belief that the group comes first
, nationalization - correct answer ✔✔ Transfer of property from a privately owned firm to the
government
dual-use products - correct answer ✔✔ Products that may be used for both civilian and military
purposes
individualism - correct answer ✔✔ The cultural belief that the person comes first
extraterritoriality - correct answer ✔✔ Application of a country's laws to activities occurring
outside its borders
social orientation - correct answer ✔✔ Cultural beliefs about the relative importance of the
individual and the groups to which an individual belongs
IFRS - correct answer ✔✔ International Financial Reporting Standards. International accounting
standards promulgated by the International Accounting Standards Board.
accounting reserves - correct answer ✔✔ Reserves created by firms for foreseeable expense
technology transfer - correct answer ✔✔ The transfer of technology from one country to
another
cultural convergence - correct answer ✔✔ Convergence of two or more cultures
time orientation - correct answer ✔✔ Cultural beliefs regarding long-term versus short term
outlooks on work, life, and other aspects of society.
