BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES

 Question 1 1 out of 1 points The United States, Canada, and Mexico make up the ________, which in essence has removed all barriers to trade among these countries and created a huge North American market. Selected Answer: North American Free Trade Agreement Answers: North American Trade Union North American Common Market North American Free Trade Agreement General Agreement on Tariffs and Trade Response Feedback: The United States, Canada, and Mexico make up the North American Free Trade Agreement (NAFTA), which in essence has removed all barriers to trade among these countries and created a huge North American market.  Question 2 1 out of 1 points U.S. firms maintain particularly dominant global positions in all of the following industries except: Selected Answer: textiles. Answers: textiles. biotechnology. telecommunications. media. Response Feedback: U.S. firms maintain particularly dominant global positions in technology￾intensive industries, including computing (hardware and services), telecommunications, media, and biotechnology.  Question 3 1 out of 1 points ________ is the process by which companies undertake some activities at offshore locations instead of in their countries of origin. Selected Answer: Offshoring Answers: Homesourcing Insourcing Offshoring Globalization Response Feedback: Offshoring is the process by which companies undertake some activities at offshore locations instead of in their countries of origin.  Question 4 BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES 1 out of 1 points The Asian economic block, made up of Indonesia, Malaysia, the Philippines, Singapore, Brunei, Thailand, Cambodia, Myanmar, and Vietnam, is referred to as the: Selected Answer: Association of Southeast Asian Nations (ASEAN). Answers: Asian Economic Union. Southeast Asia Free Trade Agreement (SEAFTA). Southeast Asia Common Market. Association of Southeast Asian Nations (ASEAN). Response Feedback: The Association of Southeast Asian Nations (ASEAN) is made up of Indonesia, Malaysia, the Philippines, Singapore, Brunei, Thailand, and, in recent years, Cambodia, Myanmar, and Vietnam.  Question 5 1 out of 1 points The Trans-Pacific Partnership (TPP) is a trade agreement among 12 Pacific Rim countries, including: Selected Answer: Peru, the United States, and Vietnam. Answers: Peru, the United States, and Vietnam. Singapore, Russia, and Chile. India, Canada, and Australia. Great Britain, New Zealand, and China. Response Feedback: The Trans-Pacific Partnership (TPP) is a trade agreement among 12 Pacific Rim countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.  Question 6 1 out of 1 points Which of the following economies is projected to become the largest by 2050 using market exchange rates? Selected Answer: China Answers: China Australia Brazil India Response Feedback: The economy of China is projected to become the largest by 2050 using market exchange rates. China would surge past the United States and Japan as the largest world economic power by 2050.  Question 7 BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES 1 out of 1 points ________ is the process of applying management concepts and techniques in a multinational environment and adapting management practices to different economic, political, and cultural environments. Selected Answer: International management Answers: Internationalization Strategic management International management Globalization Response Feedback: International management is the process of applying management concepts and techniques in a multinational environment and adapting management practices to different economic, political, and cultural contexts.  Question 8 1 out of 1 points In ________, chaebols are very large, family-held conglomerates that have considerable political and economic power. Selected Answer: South Korea Answers: China South Korea Thailand Japan Response Feedback: In South Korea, chaebols are very large, family-held Korean conglomerates that have considerable political and economic power.  Question 9 1 out of 1 points A factory, the majority of which are located in Mexican border towns, that imports materials and equipment on a duty- and tariff-free basis for assembly or manufacturing and re-export is referred to as ________. Selected Answer: a maquiladora Answers: a keiretsu a governmental agency a maquiladora a vertically integrated corporation Response Feedback: A factory, the majority of which are located in Mexican border towns, that imports materials and equipment on a duty- and tariff-free basis for assembly or manufacturing and re-export is referred to as a maquiladora. BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES  Question 10 1 out of 1 points Which of the following countries was not among the world's 10 most competitive nations in 2015? Selected Answer: Mexico Answers: Germany Singapore Norway Mexico Response Feedback: In the year 2015, the 10 most competitive nations were the United States, Switzerland, China-Hong Kong, Sweden, Singapore, Norway, Canada, Luxembourg, Germany, and Denmark.  Question 11 1 out of 1 points The ________ is the global organization of countries that oversees rules and regulations for international trade and investment, including agriculture, intellectual property, services, competition, and subsidies. Selected Answer: WTO Answers: WTO NAFTA WIPO ITO Response Feedback: The WTO is the global organization of countries that oversees rules and regulations for international trade and investment, including agriculture, intellectual property, services, competition, and subsidies.  Question 12 1 out of 1 points In the context of established economies, despite setbacks, ________ remains a formidable international competitor and is well poised in all three major economic regions: the Pacific Rim, North America, and Europe. Selected Answer: Japan Answers: Japan China Chile Argentina Response In the context of established economies, despite setbacks, Japan remains a BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES Feedback: formidable international competitor and is well poised in all three major economic regions: the Pacific Rim, North America, and Europe.