FIU MAR4156 quiz 1

Question Question 1 Which of the following is a possible outcome of the “alien status” of a company? An increase in protectionist federal policies. A positive balance of trade. A sharp rise in domestic and international demand. A huge trade deficit. An economic situation of the magnitude of the Great Depression. Question 2 Which of the following reflects the relationship between international business and domestic business? Domestic businesses find it relatively easy to manage profits in the current scenario. Domestic businesses find it relatively easy to manage profits in the current scenario. Most domestic businesses are the result of customization efforts of international businesses. The ability to invest abroad is to a large extent a function of domestic economic vitality. Domestic businesses are more viable as capital tends to move toward minimum use. Question 3 _____ is a controllable element in both domestic and international marketing environments. Economic climate Competition within the home country Price of products Political forces Foreign policies Which of the following firms has a better chance of accelerating the internationalization process? International regulatory bodies set export/import limits. The importing country can levy heavier import tariffs to override the VERs. The exporting country sets the limits on the quantity it will export. It is a mandatory tax imposed by a government on goods entering at its borders. It is an absolute restriction against the importation of certain goods. Question 5 The primary obstacles to success in international marketing are a person’s _____ and an associated ethnocentrism. regionalism holism self-reference criterion effort at adaptation effort at integration Question 6 What is the most profound change for firms at the global marketing stage of internationalization? Planning involves production of goods outside the home market. Sales to foreign markets are made as and when goods become available. Temporary surpluses marketed in foreign markets is the only element of internationalization. Companies treat the world along with home market as one market. Production capacity exceeds domestic demand. Question 7 The firms at the stage of regular foreign marketing of international marketing involvement: sell products that are a result of planned production in markets in various countries. primarily focus all their operations and production to service domestic market needs. have a global perspective and view the entire world as one market devoid of any segments based on nationality. have half their sales revenues coming from international markets. have no intention of maintaining continuous market representation in foreign markets. Question 8 Which of the following is an uncontrollable element for an international marketer? Firm characteristics Promotion Price Research Level of technology Question 9 Which of the following is an essential requirement for companies to succeed in international markets? Binding strictly to their traditional methods of operations to succeed in international markets. Focusing primarily on their production to meet the demands at home. Venturing into multiple markets at once. Committing themselves completely to foreign markets. Focusing on improving the domestic market to invest the returns in international markets. Question 10 _____ impedes the ability of a person to assess a foreign market in its true light. Nativism Pluralism Xenocentrism Ethnocentrism Relativism 0.5 points Question 11 After World War II the United States led efforts like the Marshall Plan to assist in rebuilding Europe financial and industrial development assistance to rebuild Japan and funds channeled to foster economic growth in the underdeveloped world. These efforts were primarily aimed at: halting the growth of Nazi Germany. dampening the spread of communism. dissolving the colonial powers. building a stronger defense force. creating a worldwide trade bloc to counter the OPEC countries’ clout. Question 12 The Foreign Corrupt Practices Act (FCPA) is specifically addressed in the _____ section of the Omnibus Trade and Competitiveness act. market access export expansion import relief foreign exchange regulation trade deficit Question 13 Which of the following acronyms refers to the international forum that was created for member countries to engage in the negotiation of tariffs and other barriers to trade? UNHCR GATT WMO NPT UNDP Question 14 Which section of the Omnibus Trade and Competitiveness Act recognizes that foreign penetration of U.S. markets can cause serious competitive pressure loss of market share and occasionally severe financial harm? The market access section. The export expansion section. The import relief section. The foreign exchange regulation section. The trade deficit section. Question 15 After World War II the United States set out to infuse the ideal of capitalism throughout as much of the world as possible. The _____ aimed at assisting in rebuilding Europe is the plan most closely associated with this endeavor. Eisenhower Plan Marshall Plan Bradley Plan Roosevelt Plan Truman Plan Question 16 What was the outcome for the GATT after the ratification of the Uruguay Round agreements? With the ratification of the Uruguay Round agreements the GATT became part of the World Trade Organization (WTO) in 1995 and its 117 original members moved into a new era of free trade. It became part of the World Trade Organization. It led to the uneven distribution of economic power and potential. The European Union decided to stay away from the treaty. The original purpose was sidelined in favor of political and military intervention between member states. Question 17 An agreement signed willingly between the importing country and the exporting country for a restriction on the volume of exports is called a: None of these. tariff. voluntary export restraint. special interests’ privilege. balance-of-payment. Question 18 Randall Smithe-Jones believes that protectionism is the only way to save the United Kingdom from outside competitors. He has seen small businesses go bankrupt because cheaper foreign goods have been more popular. The cell-phone manufacturing industry has just started in U.K and Smithe-Jones’ company is one of the first to try its hand at cell-phone manufacturing. Which of the following would probably be the argument that Smithe-Jones would use to persuade his government representatives that protectionism is still needed in the U.K.? Protection of an infant industry. The need to keep money at home. Conservation of natural resources. National defense. Maintenance of standard of living. Question 19 Which of the following types of nontariff barriers strictly falls under the category of specific limitations on trade? Import credit discriminations Export subsidies Voluntary export restraints Embargoes Packaging labeling or marking standards Question 20 _____ and the World Bank Group are two global institutions created primarily to assist nations in becoming and remaining economically viable. The United Nations The World Court The International Monetary Fund The International Red Cross The League of Nations

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