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Economics Quiz

Social mobility refers to the degree to which : members from a higher status move to a lower social category. Members from a lower social category moves to a higher status. People from emerging economies move to developed economies. People from developed economies move to emerging economies. Question 8 Political risk is associated with political changes that may negatively impact domestic ND foreign firms. Which statement about political risk is correct? Political risk only exists in communist countries.

Firms operating in democracies never confront political risk. Myth. Firms operating in democracies are subject to political risk. Political risk is a The firm that engages in foreign direct investment is: a global firm. A multinational enterprise. An international enterprise. A foreign direct investor. Question 10 What defines the field of global business more than anything else? The focus on firm performance around the globe The focus on ROI of the global venture The focus on maximizing profits while minimizing expenses The focus on global expansion Question 1 1 Which expression does the author use to describe contemporary globalization?

Global localization Total globalization Generalization Global standardization Question 12 Which of the following definitions of the international/global business represents the author’s view? A business

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that engages in international economic activities. The action of doing business abroad. Business around the globe including international and domestic business activities. All of these answers. Question 13 is/are measured as the sum of value added by resident firms, households, and government operating in an economy.

Gross national income Gross domestic product National reserves Question 14 Moral hazard is recklessness when organizations: do not have to face full consequences of their actions. Have to face full consequences of their actions. Are state owned. Are privately owned. Question 15 are defined as “fundamental and comprehensive changes introduced to the formal and informal rules of the game that affect organizations as players. ” Institutional transitions Opportunities Transaction costs Costs of doing business Question 16 Which of the following countries have a high-context culture?

Japan France Finland Canada Question 17 The world economy at present is an approximately: $10 trillion economy $23 trillion economy $60 trillion economy Question 18 An American firm operating in the Middle East struggles with enforcing rules against sexual discrimination against Muslim women working in its management. This is an example of: Ethical Relativism Ethical Responsibility Ethical Institution Ethical Imperialism Question 19 f globalization suggests that globalization is unable to keep going in one direction.

Opponents A long-run historical view A pendulum view A complete view Question 20 Why study global business? In order to increase one’s employability In order not to get Bandoleer or Shanghaied In order to better understand how to become a sought after, globe trotting manager All of these answers Question 21 According to the opening case, which country is the country of origin for this book? US is an individual’s ability to understand and adjust to new cultures. Cultural intelligence

Cultural awareness Cultural skills Cultural responsibility Question 23 refers to the internalized, taken for granted values and beliefs that guide individual and firm behavior. The normative pillar The regulatory pillar The cognitive pillar None of these answers Question 24 In order to answer the question: ‘What determines the success and failures of firms around the globe? “, the author introduces two core perspectives: Capability- and asset-based view Formal- and informal-rule-based view Ability- and mobility-based view Institution- and resource-based view

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