D270 Final Davis exam with complete
solutions
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)
John lives in Brussels, Belgium. He wants to make some money and sees that his
neighbor has left some old video games in the trash can. John asks the neighbor
if he can have the video games and the neighbor says yes, he can. John takes all
the video games and walks over to the local college. He then starts to sell the
video games to students who walk by. This is an example of what?
the shadow economy
solutions
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)
John lives in Brussels, Belgium. He wants to make some money and sees that his
neighbor has left some old video games in the trash can. John asks the neighbor
if he can have the video games and the neighbor says yes, he can. John takes all
the video games and walks over to the local college. He then starts to sell the
video games to students who walk by. This is an example of what?
the shadow economy
