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1. Question : (TCO 3) Last year, the nation of Tigerland imported goods totaling $500 million and exported products totaling $386 million. Tigerland experienced a(n): Student Answer: unfavorable balance of trade favorable balance of trade trade surplus benefit from membership in a free trade zone Instructor Explanation: Chapter 3 Page 64 Points Received: 1 of 1 Comments: 2. Question : (TCO 3) The difference between money coming into a country (from exports) and money leaving the country (for imports) plus money flows from other factors such as tourism, foreign aid, and military expenditures is referred to as the: Student Answer: balance of payments balance of trade balance of money flows exchange rate Instructor Explanation: Chapter 3 Page 64 Points Received: 1 of 1 Comments: 3. Question : (TCO 3) Country A is an extremely efficient producer of tin. However, its climate and terrain make it difficult to produce corn. According to the theory MultipleChoice 3 True 0 1864892010 MultipleChoice 3 1864892011 MultipleChoice 4 True 0 MultipleChoice 4

BUSN quizes

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Text of BUSN quizes

1.

Question :

(TCO 3) Last year, the nation of Tigerland imported goods totaling $500 million and exported products totaling $386 million. Tigerland experienced a(n): unfavorable balance of trade favorable balance of trade trade surplus benefit from membership in a free trade zone

Student Answer:

Instructor Explanation:

Chapter 3 Page 641 of 1

Points Received: Comments:MultipleChoice

3

True

0

1864892010

MultipleChoice

3

2.

Question :

(TCO 3) The difference between money coming into a country (from exports) and money leaving the country (for imports) plus money flows from other factors such as tourism, foreign aid, and military expenditures is referred to as the: balance of payments balance of trade balance of money flows exchange rate

Student Answer:

Instructor Explanation:

Chapter 3 Page 641 of 1

Points Received: Comments:1864892011 MultipleChoice

4

True

0

MultipleChoice

4

3.

Question :

(TCO 3) Country A is an extremely efficient producer of tin. However, its climate and terrain make it difficult to produce corn. According to the theory of comparative advantage, Country A should: produce both tin and corn in order to remain self-sufficient

Student Answer:

watch the global market to see which product is bringing the highest price import the resources needed to produce corn concentrate its production on tin and buy corn from an efficient producerInstructor Explanation:

Chapter 3 Page 611 of 1

Points Received: Comments:18648920120

MultipleChoice1864892012

8MultipleChoice

True8

4.

Question :

(TCO 3) An American firm recently criticized a Chinese steel producer for charging a lower price for its products in the United States than it charges in China. If proven to be true, the Chinese firm has engaged in: industrial protectionism a low labor cost strategy dumping exchange rate manipulation

Student Answer:

Instructor Explanation:

Chapter 3 Page 651 of 1

Points Received: Comments:18648920130

MultipleChoice1864892013

10MultipleChoice

True10

5.

Question :

(TCO 1) Workers in the nation of Argentina prefer managers who forcefully tell employees what to do and how to do it. Conversely, employees in the U.S. prefer to participate in decision making in the workplace. This __________ difference between Argentinian workers and U.S. workers represents a management challenge for firms trading in the global market geo-political economic

Student Answer:

socio-cultural regulatoryInstructor Explanation:

Chapter 3 Page 720 of 1

Points Received: Comments:1864892014 MultipleChoice

15

False

0

1864892014

MultipleChoice

15

6.

Question :

(TCO 3) Hennessy Hardware, a U.S. retailer, buys much of its inventory from Asian countries. Hennessy Hardware would benefit if the value of the dollar ________ relative to the currencies of the countries from which Hennessy imports rose fell remained constant floated unpredictably

Student Answer:

Instructor Explanation:

Chapter 3 Page 741 of 1

Points Received: Comments:1864892015 MultipleChoice

16

True

0

1864892015

MultipleChoice

16

7.

Question : Student Answer:

(TCO 3) The strength of the U.S. economy helps explain why: foreign direct investment in the United States has grown steadily the United States enjoys a favorable balance of trade China and Japan formed a common market to become more competitive the U.S. is able to avoid becoming a debtor nation

Instructor Explanation:

Chapter 3 Page 71

Points Received: Comments:1864892016 0 MultipleChoice 1864892016

1 of 1

19 MultipleChoice

True 19

8.

Question :

(TCO 3) Patrick's Products has a manufacturing plant near Chicago. The plant specializes in compact washers and dryers for countries in which consumers have less living space. Patrick's Products participates in the global market through: importing dumping exporting balancing trade

Student Answer:

Instructor Explanation:

Chapter 3 Page 641 of 1

Points Received: Comments:1864892017 0 MultipleChoice 1864892017

23 MultipleChoice

True 23

9.

Question :

(TCO 1) A form of foreign direct investment, in which a domestic company purchases a company in a foreign country to produce a similar product or service is a: licensor joint venture foreign subsidiary host company

Student Answer:

Instructor Explanation:

Chapter 3 Page 700 of 1

Points Received: Comments:1864892018 0 MultipleChoice 1864892018

26 MultipleChoice

False 26

10.

Question :

(TCO 3) A major concern voiced by U.S. critics of the North American Free Trade Agreement (NAFTA) is that it would result in: higher prices for consumer goods loss of jobs in the U.S. economy national security problems increased illegal immigration from Mexico

Student Answer:

Instructor Explanation:

Chapter 3 Page 781 of 1

Points Received: Comments:1864892019 MultipleChoice

28

True

0

1864892019

MultipleChoice

28

11.

Question :

(TCO 3) Current trade data indicates that the nation of Bogusland exports more to other nations than it imports. Bogusland has: an unfavorable balance of trade a trade surplus a trade deficit a low balance of trade

Student Answer:

Instructor Explanation:

Chapter 3 Page 641 of 1

Points Received: Comments:1864892020 0 MultipleChoice 1864892020

31 MultipleChoice

True 31

12.

Question :

(TCO 3) __________ occurs when a country has a monopoly on producing a product or is able to produce it at a cost well below that of all other countries Comparative advantage Absolute advantage

Student Answer:

Complete advantage Dumping advantageInstructor Explanation:

Chapter 3 Page 621 of 1

Points Received: Comments:1864892021 MultipleChoice

35

True

0

1864892021

MultipleChoice

35

13.

Question :

(TCO 3) Many of the toy products sold in the United States are imported from Taiwan because the Taiwanese can produce these products more efficiently than U.S. companies. This is an example of: Bilateral advantage Comparative advantage Absolute advantage Unilateral advantage

Student Answer:

Instructor Explanation:

Chapter 3 Page 611 of 1

Points Received: Comments:1864892022 MultipleChoice

37

True

0

1864892022

MultipleChoice

37

14.

Question :

(TCO 3) _______________ are specialists that match buyers and sellers from different countries and provide services to ease the process of entering global markets Export trading companies Licensees Strategic alliances Keiretsu

Student Answer:

Instructor Explanation:

Chapter 3 Page 67

Points Received: Comments:1864892023 0 MultipleChoice 1864892023

1 of 1

41 MultipleChoice

True 41

15.

Question : Student Answer:

(TCO 3) An advantage of forming a joint venture is: no shared costs or risk a perpetual arrangement it's a good strategy for entering new markets in which you have never had a presence it's a great way to enter new markets without divulging any marketing or management strategy to the other member of the joint venture

Instructor Explanation:

Chapter 3 Page 701 of 1

Points Received:

1.

Question : Student Answer:

(TCO 2) Obeying the law is ________ ethical behavior essentially the same as the first step toward the opposite of unlikely to lead to

Instructor Explanation:

Chapter 4 Page 901 of 1

Points Received: Comments:1871843086 0 MultipleChoice 1871843086

2 MultipleChoice

True 2

2.

Question :

(TCO 2) A(n) ________-based ethics code emphasizes the prevention of unlawful behavior by increasing control and

penalizing wrongdoersStudent Answer:

legal corporate responsibility compliance integrity

Instructor Explanation:

Chapter 4 Page 961 of 1

Points Received: Comments:1871843087 0 MultipleChoice 1871843087

6 MultipleChoice

True 6

3.

Question :

(TCO 2) The purpose of a(n) ________ is to evaluate an organization's progress toward implementing programs to achieve social responsibility accountability review social audit federal disclosure statement annual report

Student Answer:

Instructor Explanation:

Chapter 4 Page 1041 of 1

Points Received: Comments:1871843088 0 MultipleChoice 1871843088

8 MultipleChoice

True 8

4.

Question :

(TCO 2) Ethical behavior covers a ________ range of conduct than does legal behavior wider more limited smaller

Student Answer:

less demandingInstructor Explanation:

Chapter 4 Page 901 of 1

Points Received: Comments:1871843089 0 MultipleChoice 1871843089

12 MultipleChoice

True 12

5.

Question :

(TCO 2) Business relationships often present ethical dilemmas that are ________ not easily resolved easily resolved by following the relevant laws best resolved by creating a lose-lose situation irrelevant and therefore require no action

Student Answer:

Instructor Explanation:

Chapter 4 Page 961 of 1

Points Received: Comments:1871843090 0 MultipleChoice 1871843090

13 MultipleChoice

True 13

6.

Question : Student Answer:

(TCO 2) Issues of social responsibility and ethical behavior are: the result of greed found in capitalist countries found primarily in countries with a low standard of living a concern only of business professors found in many different countries

Instructor Explanation:

Chapter 4 Page 1051 of 1

Points Received: Comments:18718430910

MultipleChoice1871843091

16MultipleChoice

True16

7.

Question :

(TCO 2) The vice president of human resources at Ato Enterprises feels strongly that workers need to realize the benefits of their hard work. This reveals the firm's responsibility to: customers investors society employees

Student Answer:

Instructor Explanation: Chapter 4 Page 102

Points Received: Comments:1871843092 0 MultipleChoice 1871843092

1 of 1

21 MultipleChoice

True 21

8.

Question :

(TCO 2) Which of the following statements describes ethical behavior in the U.S? Due to the diverse cultures that make up the U.S., it is difficult to identify common standards of ethical behavior The only common standards of ethical behavior in the U.S. are reflected in religious teachings We can find common moral values that many Americans uphold, including respect for human life, self-control, honesty, integrity, and courage Americans will generally describe the golden rule as the only statement of value that they uphold

Student Answer:

Instructor Explanation:

Chapter 4 Page 921 of 1

Points Received: Comments:1871843093 MultipleChoice

23

True

0

1871843093

MultipleChoice

23

9.

Question :

(TCO 2) Many Americans define ethical behavior according to the situation in which they find themselves. This suggests that there may be situations where ________ to cheat, steal, or lie

Student Answer:

it is absolutely wrong it might be OK business people are expected capitalism forces people

Instructor Explanation:

Chapter 4 Page 961 of 1

Points Received: Comments:1871843094 0 MultipleChoice 1871843094

27 MultipleChoice

True 27

10.

Question :

(TCO 2) With respect to Arthur Andersen, a large and wellknown public accounting and consulting firm, the Legal Briefcase box, "Paying the Price" explains: how Arthur Andersen's connection with the Enron scandal was not enough to bring it down how as soon as Arthur Andersen cleared itself by paying fines to the federal government, it went back to "business as usual" that Arthur Andersen's prior conviction was overturned, but it never recovered that Arthur Andersen's consulting arm always behaved ethically, so it was saved

Student Answer:

Instructor Explanation:

Chapter 4 Page 911 of 1

Points Received: Comments:1871843095 0 MultipleChoice 1871843095

28 MultipleChoice

True 28

11.

Question :

(TCO 2) A U.S. senator has indicated that for a generous contribution to his reelection fund, he would ignore your companys apparent violation of several child labor laws. Which of the following "ethics check questions" would you consider first?

Student Answer:

Is it legal? Is it fair and balanced? How will it make me feel about myself? Is it a generous amount?

Instructor Explanation:

Chapter 4 Page 941 of 1

Points Received: Comments:1871843096 0 MultipleChoice 1871843096

31 MultipleChoice

True 31

12.

Question : Student Answer:

(TCO 2) Relationships between businesses and among nations should be based on international law, exclusively should be based on fairness, honesty, openness, and moral integrity should be scrutinized carefully to make some determination as to whether both sides have the same type of leader behavior when it comes to assigning work will be adversarial because seldom does either side believe in win-win situations

Instructor Explanation:

Chapter 4 Page 961 of 1

Points Received: Comments:1871843097 0 MultipleChoice 1871843097

35 MultipleChoice

True 35

13.

Question :

(TCO 2) Creating competition between employees within the corporation: can encourage employees to deceive customers should focus on improving corporate profit must be ignored when corporate ethics are developed

Student Answer:

can bring out the best in employeesInstructor Explanation:

Chapter 4 Page 961 of 1

Points Received: Comments:1871843098 0 MultipleChoice 1871843098

37 MultipleChoice

True 37

14.

Question :

(TCO 2) Which of the following would most likely involve ethical concerns? Overstating an expense report Forecasting sales for the next year Developing the marketing plan for the next year Improving working conditions

Student Answer:

Instructor Explanation:

Chapter 4 Page 961 of 1

Points Received: Comments:1871843099 0 MultipleChoice 1871843099

40 MultipleChoice

True 40

15.

Question :

(TCO 2) When a manager is concerned about the legality of firing union workers in order to hire workers willing to work for less pay, a(an) ________-based ethics code is in place. legal corporate responsibility compliance integrity

Student Answer:

Instructor Explanation:

Chapter 4 Page 96