BMGT Bus 5571 Test Bank BS2 Questions and Answers latest updated,100% CORRECT RATED A+

1. According to the opening case, the most important reason to assemble iPhones in China was due to: A. lower labour costs in China B. foreign exchange rates C. consumer preferences for foreign items D. the ability to scale production up and down E. tariffs and trade barriers 2. The trend toward a more integrated and interdependent global economic system that has been in place for many years is commonly referred to as: A. market standardization B. cross-border integration C. globalization D. consumerism E. nationalization 3. Sourcing goods and services from locations around the globe is known as __________. A. melding of markets B. integration of markets C. deregulation D. globalization of production E. globalization of markets F. 4. The globalization of __________ refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (such as labour, energy, land, and capital). A. information technology B. process design C. markets D. production E. R&D 5. The factors of production include: A. information technology B. process design C. markets D. labour E. research and development 6. The _______ was created in 1944 by 44 nations that met in Breton Woods, New Hampshire. A. International bank A. B. C. D. E. B. World Monetary Fund C. World Trade Organization D. International Monetary Fund E. United Nations 7. The _______ is seen as the lender of last resort to nation-states whose economies are in turmoil and currencies are losing value against those of other nations. A. International Monetary Fund B. International bank C. United Nations D. Canada's Export Development Corporation E. Bank of Canada 8. Who is responsible for policing the world trading system? A. International Monetary Fund B. The World Bank C. The World Trade Organization D. Canada's Export Development Corporation E. Bank of Canada 9. What was created at the same time as the International Monetary Fund? A. World Bank B. GATT C. United Nations D. Canada's Export Development Corporation E. Bank of Canada 10. Although this organization is perhaps best known for its peacekeeping role, one of its central mandates is the promotion of higher standards of living, full employment, and conditions of economic and social progress and development. What is it called? A. World Bank B. GATT C. United Nations D. Canada's Export Development Corporation E. Bank of Canada 11. _______ are the two macro factors that seem to underlie the trend toward greater globalization. A. The increase in global economic stability, and the slowdown in technological change BThe increase in barriers to the free flow of goods, services, and capital that has occurred since the end . of World War II, and global economic stability CThe decline in barriers to the free flow of goods, services, and capital that has occurred in the past 10 . years, and the slowdown in technological change DThe decline in barriers to the free flow of goods, services, and capital that has occurred since the end of . World War II, and technological change E. Technological Change and the convergence of global product preferences 12. Firm X exports a number of products to users in other countries. This practice is referred to as __________. A. world exchange B. international trade C. cross-national barter D. situational commerce E. multinational diversification 13. XYZ, Inc. is an auto parts distributing warehouse that exports many of its products to consumers in other countries. XYZ Inc. can be described as engaging in: A. international trade. B. cross-border investments. C. product development. D. trading barriers. E. international procurement. 14. Which of the following refers to the exporting of goods or services to consumers in another country? A. situational commerce B. world exchange C. international trade D. cross-national barter E. foreign investment 15. Although Inco is a Canadian company, it has invested substantial business resources in activities outside Canada. This practice is referred to as: A. transnational commerce B. foreign direct investment C. international trade D. organizational diversification E. outsourcing 16. The investing of resources in business activities outside a firm's home country is referred to as: A. international trade B. domestic direct investment C. transnational barter D. foreign direct investment E. outsourcing 17. The __________ is a treaty designed to remove barriers to the free flow of goods, services, and capital between nations. A. Global Agreement on Tariffs and Commerce B. United Nations Treaty on Trade C. General Agreement on Tariffs and Trade D. Multi-National Agreement on Tariffs and Commerce E. The ILO 18. After World War II, the West committed to removing trade barriers between nations because of what experience? A. the loss of production from the war B. retaliatory trade policies leading to the Depression