D270 Final Davis Questions With
Outlined Answers
In class, we discussed the catfish case. In that case, the catfish farmers in the USA were able to
convince the U.S. Congress to pass a law that would require what?
Require inspection of all catfish sold in the U.S.
All of the following statements are true about emerging economies EXCEPT:
have overtaken the U.S.A. as the economic leader in the world
The BRIC's countries have all of the following EXCEPT:
strong infrastrucutre
Country X is in the process of transforming from a command economy to a market economy.
This process most likely involves
privatization of many factors of production
Which of the following is the most important business objective for pursuing ethical
behavior?
developing competitive advantages
What is the primary reason that Anglo American PLC developed its ART program?
maintain a healthy workforce
Which of the following statements is most likely true about the post-conventional level of
moral development?
Individuals behave morally because they believe such actions are right.
You are traveling on business in England. You land at the airport and change some of your
country's money into English pounds. After you check into your hotel, you walk down the
street in London to a grocery store and buy 6 bottles of Coca-Cola to keep in your hotel room
while you are there. When you return to your room you use your calculator to see how much
, Coca-Cola costs in your country's money. You realize that it costs about 30% more to buy
Coca-Cola than in your country. The difference in price is an example of
The purchasing power parity
You are a manager for McDonald's Corporation. Your boss tells you that the company is
thinking about putting restaurants in a new foreign country that McDonald's has not been to
before. Your boss is very interested in finding out if the economic system of this new country
will be a good one for McDonald's sales. He tells you that the new country's economy is based
on optimizing economic efficiency, promoting egalitarianism, and preventing self-interest.
What type of economy does this new country have?
Mixed Economy
The President of India is considering limiting exports to unfriendly countries. An argument
against the President taking this action would be that
The cost of the sanctions are placed on innocent people rather than on the leaders of the
countries.
All of the following statements are true about G20 countries EXCEPT:
Less than half of the world's poor people live in G20 countries
The coronavirus caused a dramatic economic slowdown around the world. History suggests
that when an economic crisis gets worse, more citizens likely to question the
legitimacy of capitalism
The measure of the value of production that occurs within a country's borders without regard
to whether the production is done by domestic or foreign factors of productions is its
gross domestic product (GDP)
Canada and Saudi Kuwait make a trade agreement. In the agreement, Canada will limit the
amount of salmon fish it exports to the United States to 5,000 tons per year and Kuwait will
lower the price of its oil it is selling to Canada by 20%. This is an example of
VER (voluntary export restraint)
Most countries in the world have put non-tariff barriers on some service businesses because
they want to stop people from foreign countries from operating those services. Which type of
service companies are usually stopped from entering a foreign country?
All answers are correct (Insurance, Mail service, public transportation, and hospitals)
Outlined Answers
In class, we discussed the catfish case. In that case, the catfish farmers in the USA were able to
convince the U.S. Congress to pass a law that would require what?
Require inspection of all catfish sold in the U.S.
All of the following statements are true about emerging economies EXCEPT:
have overtaken the U.S.A. as the economic leader in the world
The BRIC's countries have all of the following EXCEPT:
strong infrastrucutre
Country X is in the process of transforming from a command economy to a market economy.
This process most likely involves
privatization of many factors of production
Which of the following is the most important business objective for pursuing ethical
behavior?
developing competitive advantages
What is the primary reason that Anglo American PLC developed its ART program?
maintain a healthy workforce
Which of the following statements is most likely true about the post-conventional level of
moral development?
Individuals behave morally because they believe such actions are right.
You are traveling on business in England. You land at the airport and change some of your
country's money into English pounds. After you check into your hotel, you walk down the
street in London to a grocery store and buy 6 bottles of Coca-Cola to keep in your hotel room
while you are there. When you return to your room you use your calculator to see how much
, Coca-Cola costs in your country's money. You realize that it costs about 30% more to buy
Coca-Cola than in your country. The difference in price is an example of
The purchasing power parity
You are a manager for McDonald's Corporation. Your boss tells you that the company is
thinking about putting restaurants in a new foreign country that McDonald's has not been to
before. Your boss is very interested in finding out if the economic system of this new country
will be a good one for McDonald's sales. He tells you that the new country's economy is based
on optimizing economic efficiency, promoting egalitarianism, and preventing self-interest.
What type of economy does this new country have?
Mixed Economy
The President of India is considering limiting exports to unfriendly countries. An argument
against the President taking this action would be that
The cost of the sanctions are placed on innocent people rather than on the leaders of the
countries.
All of the following statements are true about G20 countries EXCEPT:
Less than half of the world's poor people live in G20 countries
The coronavirus caused a dramatic economic slowdown around the world. History suggests
that when an economic crisis gets worse, more citizens likely to question the
legitimacy of capitalism
The measure of the value of production that occurs within a country's borders without regard
to whether the production is done by domestic or foreign factors of productions is its
gross domestic product (GDP)
Canada and Saudi Kuwait make a trade agreement. In the agreement, Canada will limit the
amount of salmon fish it exports to the United States to 5,000 tons per year and Kuwait will
lower the price of its oil it is selling to Canada by 20%. This is an example of
VER (voluntary export restraint)
Most countries in the world have put non-tariff barriers on some service businesses because
they want to stop people from foreign countries from operating those services. Which type of
service companies are usually stopped from entering a foreign country?
All answers are correct (Insurance, Mail service, public transportation, and hospitals)
