IMS 3310 EXAM 1 STUDY GUIDE UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

IMS 3310 EXAM 1 STUDY GUIDE UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. What is international business?
Answer:
a business engaging in international economic activities

Question:
2. What is a multinational enterprise?
Answer:
a firm engaging in direct foreign investment

Question:
3. What are emerging economies?
Answer:
Developing countries

Question:
4. What is GDP
Answer:
the sum of resident firms, households, & governments operating in an economy

Question:
5. What is purchasing power parity
Answer:
the conversion rate determining the equivalent amount of goods & services different currencies can buy

Question:
6. What is BRIC(S)
Answer:
Brazil, Russia, India, China, South Africa( countries that make up 40% of global population & more than
25% of the global GDP

Question:
7. What is the Triad?
Answer:
the developed economies of North America, Western Europe, & Japan

Question:
8. What is an international premium?
Answer:
This is extra compensation demanded by expatriate(manager working overseas) manager