Liberty University BUSI 303 exam 1 complete solutions correct answers A+ work

Liberty University BUSI 303 exam 1 complete solutions correct answers A+ work

More than 6 different versions

• Question 1

2.5 out of 2.5 points

The three primary types of global economic systems are centrally planned, market, and market growth.

• Question 2

2.5 out of 2.5 points

A mixed economy is an economic system that allows for the simultaneous operation of publicly and privately owned enterprises.

• Question 3

2.5 out of 2.5 points

According to the new trade theory, certain industries should not be modeled using the perfect competition assumption.

• Question 4

2.5 out of 2.5 points

The WTO is not exclusively about lowering or reducing trade barriers but in some circumstances it supports maintaining trade barriers.

• Question 5

2.5 out of 2.5 points

Local content requirements restrict domestic business operations by hindering imports from reaching a nation or being purchased on the domestic market.

• Question 6

2.5 out of 2.5 points

A multinational corporation is one that delivers services in at least two countries.

• Question 7

2.5 out of 2.5 points

Social responsibility is the discipline of dealing with what is good and bad as well as with moral duty and obligation.

• Question 8

2.5 out of 2.5 points

Four distinct areas relate to verbal communication are jargon and slang, dialects, humor, and vocabulary and grammar.

• Question 9

2.5 out of 2.5 points

Oral agreements imply strong commitments in high-context cultures.

• Question 10

2.5 out of 2.5 points

As reported by the U.S. government CIA World Factbook in 2014, the GDP purchasing power parity for the United States in 2012 ranked first among other nations.

• Question 11

2.5 out of 2.5 points

Bribery helps to fuel poverty, especially when high-level public officials steal from their nations or mismanage public resources intended to finance their people’s aspirations for a better life.

• Question 12

2.5 out of 2.5 points

The Industrial Revolution was characterized by a marked surge in manufacturing techniques that included mass assembly, electricity, and new forms of propulsion.

• Question 13

2.5 out of 2.5 points

Globalization is a relatively new paradigm.

• Question 14

2.5 out of 2.5 points

Words have the same meaning across all languages.

• Question 15

2.5 out of 2.5 points

The global manager must work to understand the cultures in which he or she does business.

• Question 16

2.5 out of 2.5 points

The individualism dimension speaks to the extent that people place their own needs and their family above everyone else.

• Question 17

2.5 out of 2.5 points

Corruption does not concern governments and is solely a business issue.

• Question 18

2.5 out of 2.5 points

Supporters of protectionism say that by increasing the cost of imported goods through tariffs, the government instituting the barrier penalizes the sending country as well as the citizens it is trying to protect.

• Question 19

2.5 out of 2.5 points

The Foreign Corrupt Practices Act makes it illegal to influence foreign officials through personal payment.

• Question 20

2.5 out of 2.5 points

The difference between civil law and common law is grounded in the methodological approach to codes and statues.

• Question 21

2.5 out of 2.5 points

Embargoes are economic and trade sanctions against target foreign countries, groups, organizations, and individuals.

• Question 22

2.5 out of 2.5 points

Verbal communication includes body language.

• Question 23

2.5 out of 2.5 points

A competitive advantage occurs when a nation is able to produce more output than any other nation.

• Question 24

2.5 out of 2.5 points

Muhammad’s disciples (i.s. Islamists) believe that sometime during the seventh century AD, the Angel Gabriel dictated the contents to Muhammad which is viewed as infallible and without error.

• Question 25

2.5 out of 2.5 points

Subsidies are special privileges that governments provide to businesses in order to attract them to a region or to simply have the required funds to operate successfully.

• Question 26

2.5 out of 2.5 points

Geert Hofstede introduced the seven dimensions of culture.

• Question 27

2.5 out of 2.5 points

Market demographics provide answers to questions pertaining to who, what, why, and when and how for a specific group of people.

• Question 28

2.5 out of 2.5 points

The dissolution of the Council for Mutual Economic Assistance (CMEA) disrupted many supply chains was one reason why Russia did not adequately make the transition from a centrally planned to market economic system.

• Question 29

2.5 out of 2.5 points

A centrally planned economy most often refers to an economic system that is under comprehensive control and regulation by a government in accordance with the plan of economic development.

• Question 30

2.5 out of 2.5 points

The introduction of the Euro has significantly reduced the burdens previously associated with foreign currency exchange in the European nations.

• Question 31

2.5 out of 2.5 points

NAFTA is a major contributor to continental trade growth between Canada and Mexico by reducing trade tariffs and restrictions imposed by foreign entities.

• Question 32

2.5 out of 2.5 points

An economic policy whereby governments accumulate wealth in the form of gold bullion is referred to as mercantilism.

• Question 33

2.5 out of 2.5 points

A trade deficit occurs when a country is exporting more than it is importing.

• Question 34

2.5 out of 2.5 points

John Locke first proposed the theory of absolute advantage in 1776.

• Question 35

2.5 out of 2.5 points

Communications technologies provide us with the ability to encode our thoughts and purposes clearly.

• Question 36

2.5 out of 2.5 points

One positive aspect of collectivism is that the differences among individuals are emphasized.

• Question 37

2.5 out of 2.5 points

In the “Great Revelation,” Confucius revealed the step by step process by which one attains self-development.

• Question 38

2.5 out of 2.5 points

Foreign Direct Investment occurs when organizations become more involved in the global community by purchasing land or other resources in foreign nations. .

• Question 39

2.5 out of 2.5 points

If foreign ownership decreases faster than domestic ownership, then the country is said to have capital account surplus.

• Question 40

2.5 out of 2.5 points

Paul Krugman developed and published the International Product Life Cycle Theory in 1966.

·         Question 1

2.5 out of 2.5 points

Developing nations typically have a Human Development Index (HDI) of less than 0.3 according to the Human Development Reports office.

·         Question 2

2.5 out of 2.5 points

The Industrial Revolution was characterized by a marked surge in manufacturing techniques that included mass assembly, electricity, and new forms of propulsion.

·         Question 3

2.5 out of 2.5 points

The global manager must work to understand the cultures in which he or she does business.

·         Question 4

2.5 out of 2.5 points

A tariff is a tax applied to a selected category of imports.

·         Question 5

2.5 out of 2.5 points

Local content requirements restrict domestic business operations by hindering imports from reaching a nation or being purchased on the domestic market.

·         Question 6

2.5 out of 2.5 points

Market demographics provide answers to questions pertaining to who, what, why, and when and how for a specific group of people.

·         Question 7

2.5 out of 2.5 points

Bribery helps to fuel poverty, especially when high-level public officials steal from their nations or mismanage public resources intended to finance their people’s aspirations for a better life.

·         Question 8

2.5 out of 2.5 points

The foundational rules in the World Trade Organization (WTO), which originated in GATT, deals with the rules of trade between nations at a global or near-global level. .

·         Question 9

2.5 out of 2.5 points

Since 2000 the proportion of the largest economic entities that are corporations has fallen 20 percent.

·         Question 10

2.5 out of 2.5 points

Nations have been pouring money into researching and developing new advanced technologies in an effort to stay competitive in the world market.

·         Question 11

2.5 out of 2.5 points

The introduction of the Euro has significantly reduced the burdens previously associated with foreign currency exchange in the European nations.

·         Question 12

2.5 out of 2.5 points

The dissolution of the Council for Mutual Economic Assistance (CMEA) disrupted many supply chains was one reason why Russia did not adequately make the transition from a centrally planned to market economic system.

·         Question 13

2.5 out of 2.5 points

An ethnocentric multinational corporation (MNC) very carefully considers the cultures of the countries that it operates in when making business decisions.

·         Question 14

2.5 out of 2.5 points

Geert Hofstede introduced the seven dimensions of culture.

·         Question 15

2.5 out of 2.5 points

Subsidies are special privileges that governments provide to businesses in order to attract them to a region or to simply have the required funds to operate successfully.

·         Question 16

2.5 out of 2.5 points

Gross Domestic Product (GDP) is the total market value of all the goods and services produced by a nation during a specified period.

·         Question 17

2.5 out of 2.5 points

According to Trompenaar’s model of culture, people in Universalistic cultures share the belief that general rules, codes, values and standards take precedence over particular needs and claims of friends and relations.

·         Question 18

2.5 out of 2.5 points

Paul Krugman’s New Trade Theory Model demonstrated that in certain industries, government protections of an industry prove advantageous.

·         Question 19

2.5 out of 2.5 points

A mixed economy is an economic system that allows for the simultaneous operation of publicly and privately owned enterprises.

·         Question 20

2.5 out of 2.5 points

A high GNP score indicates that countries also score high on measures of welfare and life expectancy.

·         Question 21

2.5 out of 2.5 points

Successful FDI decreases employment and the standard of living for nationals in the host country.

·         Question 22

2.5 out of 2.5 points

The individualism dimension speaks to the extent that people place their own needs and their family above everyone else.

·         Question 23

2.5 out of 2.5 points

Religion is an important influencer of cultures.

·         Question 24

2.5 out of 2.5 points

Muhammad’s disciples (i.s. Islamists) believe that sometime during the seventh century AD, the Angel Gabriel dictated the contents to Muhammad which is viewed as infallible and without error.

·         Question 25

2.5 out of 2.5 points

A trade deficit occurs when a country is exporting more than it is importing.

·         Question 26

2.5 out of 2.5 points

The WTO has endorsed attempts by various organizations to develop legal standards with a special emphasis on corporate and financial institution laws.

·         Question 27

2.5 out of 2.5 points

John Locke first proposed the theory of absolute advantage in 1776.

·         Question 28

2.5 out of 2.5 points

Administrative delays impose waiting periods between the time when the quality of the product is determined and when a product can actually be sold in the market.

·         Question 29

2.5 out of 2.5 points

Education and experience are both necessary components in handling the complex tasks of managing a global business.

·         Question 30

2.5 out of 2.5 points

According to Smith’s theory of Absolute Advantage, any domestic resource that a nation can buy at a lower price than it would cost to produce domestically should be purchased and not produced.

·         Question 31

2.5 out of 2.5 points

A competitive advantage occurs when a nation is able to produce more output than any other nation.

·         Question 32

2.5 out of 2.5 points

Globalization involves assimilation which is referred to as the blending and merging of various cultures.

·         Question 33

2.5 out of 2.5 points

The Export-Import Bank is the official export credit agency of the European Union.

·         Question 34

2.5 out of 2.5 points

Hofstede’s fifth dimension of national culture, Long-term Orientation, was derived from a values inventory suggested by Asian researchers and is reminiscent of the teachings of Confucius.

·         Question 35

2.5 out of 2.5 points

Proper business etiquette is of little concern to the business manager starting a new job in foreign place.

·         Question 36

2.5 out of 2.5 points

“Targeted Globalization” explains the phenomenon that the globalization of a product or service is more likely to succeed when that product or service is adapted specifically to each locality or culture to which it is marketed.

·         Question 37

2.5 out of 2.5 points

Social responsibility is the discipline of dealing with what is good and bad as well as with moral duty and obligation.

·         Question 38

2.5 out of 2.5 points

The WTO is not exclusively about lowering or reducing trade barriers but in some circumstances it supports maintaining trade barriers.

·         Question 39

2.5 out of 2.5 points

Horizontal integration occurs when a firm expands its business into different products that are not similar to current lines.

·         Question 40

2.5 out of 2.5 points

Labor and production costs are typically lower in less developed nations which creates a continuous pull for international corporations.

The beliefs of Judaism can be seen in the words of Moses Maimonides who was a Spanish Jew that condensed the beliefs into a concise thirteen Articles of Faith

Market demographics provide answers to questions pertaining to who, what, why, and when and how for a specific group of people

The foundational rules in the World Trade Organization (WTO), which originated in GATT, deals with the rules of trade between nations at a global or near-global level

Hofstede’s fifth dimension of national culture, Long-term Orientation, was derived from a values inventory suggested by Asian researchers and is reminiscent of the teachings of Confucius

Religion is an important influencer of cultures

The Industrial Revolution was characterized by a marked surge in manufacturing techniques that included mass assembly, electricity, and new forms of propulsion

Subsidies are special privileges that governments provide to businesses in order to attract them to a region or to simply have the required funds to operate successfully

Horizontal integration occurs when a firm expands its business into different products that are not similar to current lines

Proper business etiquette is of little concern to the business manager starting a new job in foreign place

The Magna Carta Libertatum charter is sometimes credited with stimulating the growth of free trade during the middle ages

Developing nations typically have a Human Development Index (HDI) of less than 0.3 according to the Human Development Reports office

Muslims are legally required to give one-fortieth of their income to the needy

The individualism dimension speaks to the extent that people place their own needs and their family above everyone else

One positive aspect of collectivism is that the differences among individuals are emphasized

The WTO is not exclusively about lowering or reducing trade barriers but in some circumstances it supports maintaining trade barriers

A multinational corporation is one that delivers services in at least two countries

The dissolution of the Council for Mutual Economic Assistance (CMEA) disrupted many supply chains was one reason why Russia did not adequately make the transition from a centrally planned to market economic system

Muhammad’s disciples (i.s. Islamists) believe that sometime during the seventh century AD, the Angel Gabriel dictated the contents to Muhammad which is viewed as infallible and without error

An ethnocentric multinational corporation (MNC) very carefully considers the cultures of the countries that it operates in when making business decisions

A mixed economy is an economic system that allows for the simultaneous operation of publicly and privately owned enterprises

The conclusion of World War II marked the beginning of the time period known as American Peace or Pax Americana

Nations have been pouring money into researching and developing new advanced technologies in an effort to stay competitive in the world market

Administrative delays impose waiting periods between the time when the quality of the product is determined and when a product can actually be sold in the market

The current account, sometimes called the financial account, is the sum of every nation's gross income from trade in goods and services

Supporters of protectionism say that by increasing the cost of imported goods through tariffs, the government instituting the barrier penalizes the sending country as well as the citizens it is trying to protect

Foreign Direct Investment occurs when organizations become more involved in the global community by purchasing land or other resources in foreign nations

A trade deficit occurs when a country is exporting more than it is importing

Outsourcing production to foreign firms makes it possible for the domestic firm to maximize production and efficiency; however, it results in higher product prices for the consumer

Low context communication is effective in most of the USA

An economic policy whereby governments accumulate wealth in the form of gold bullion is referred to as mercantilism

In the “Great Revelation,” Confucius revealed the step by step process by which one attains self-development

Fons Trompenaar believed that cultures generally proved to be indistinguishable from one to the other

The Export-Import Bank is the official export credit agency of the European Union

“Targeted Globalization” explains the phenomenon that the globalization of a product or service is more likely to succeed when that product or service is adapted specifically to each locality or culture to which it is marketed

Local content requirements restrict domestic business operations by hindering imports from reaching a nation or being purchased on the domestic market

The Foreign Corrupt Practices Act makes it illegal to influence foreign officials through personal payment

Oral agreements imply strong commitments in high-context cultures

According to Smith’s theory of Absolute Advantage, any domestic resource that a nation can buy at a lower price than it would cost to produce domestically should be purchased and not produced

The impact of barriers to foreign investment led countries to form an independent organization known as the World Trade Organization (WTO).

Paul Krugman developed and published the International Product Life Cycle Theory in 1966

The Industrial Revolution was characterized by a marked surge in manufacturing techniques that included mass assembly, electricity, and new forms of propulsion

Muslims are legally required to give one-fortieth of their income to the needy

Administrative delays impose waiting periods between the time when the quality of the product is determined and when a product can actually be sold in the market

NAFTA is a major contributor to continental trade growth between Canada and Mexico by reducing trade tariffs and restrictions imposed by foreign entities

The beliefs of Judaism can be seen in the words of Moses Maimonides who was a Spanish Jew that condensed the beliefs into a concise thirteen Articles of Faith

A multinational corporation is one that delivers services in at least two countries

The difference between civil law and common law is grounded in the methodological approach to codes and statues

The WTO is not exclusively about lowering or reducing trade barriers but in some circumstances it supports maintaining trade barriers

Oral agreements imply strong commitments in high-context cultures

A high GNP score indicates that countries also score high on measures of welfare and life expectancy

Proper business etiquette is of little concern to the business manager starting a new job in foreign place.

The historical development of international trade and investment theory serves as a framework for understanding global trade patterns and the underlying reason for the growth of trade between nations

Supporters of protectionism say that by increasing the cost of imported goods through tariffs, the government instituting the barrier penalizes the sending country as well as the citizens it is trying to protect.

John Locke first proposed the theory of absolute advantage in 1776.

According to Smith’s theory of Absolute Advantage, any domestic resource that a nation can buy at a lower price than it would cost to produce domestically should be purchased and not produced

The impact of barriers to foreign investment led countries to form an independent organization known as the World Trade Organization (WTO).

The Magna Carta Libertatum charter is sometimes credited with stimulating the growth of free trade during the middle ages

Nations have been pouring money into researching and developing new advanced technologies in an effort to stay competitive in the world market

The current account, sometimes called the financial account, is the sum of every nation's gross income from trade in goods and services.

Local content requirements restrict domestic business operations by hindering imports from reaching a nation or being purchased on the domestic market.

Globalization involves assimilation which is referred to as the blending and merging of various cultures

Outsourcing production to foreign firms makes it possible for the domestic firm to maximize production and efficiency; however, it results in higher product prices for the consumer

The conclusion of World War II marked the beginning of the time period known as American Peace or Pax Americana

Muhammad’s disciples (i.s. Islamists) believe that sometime during the seventh century AD, the Angel Gabriel dictated the contents to Muhammad which is viewed as infallible and without error

The foundational rules in the World Trade Organization (WTO), which originated in GATT, deals with the rules of trade between nations at a global or near-global level

Verbal communication includes body language

Corruption does not concern governments and is solely a business issue.

As reported by the U.S. government CIA World Factbook in 2014, the GDP purchasing power parity for the United States in 2012 ranked first among other nations

According to the new trade theory, certain industries should not be modeled using the perfect competition assumption

An economic policy whereby governments accumulate wealth in the form of gold bullion is referred to as mercantilism

Hofstede’s fifth dimension of national culture, Long-term Orientation, was derived from a values inventory suggested by Asian researchers and is reminiscent of the teachings of Confucius

A trade deficit occurs when a country is exporting more than it is importing

A competitive advantage occurs when a nation is able to produce more output than any other nation

Four distinct areas relate to verbal communication are jargon and slang, dialects, humor, and vocabulary and grammar

Words have the same meaning across all languages

Foreign Direct Investment occurs when organizations become more involved in the global community by purchasing land or other resources in foreign nations

The global manager must work to understand the cultures in which he or she does business

Since 2000 the proportion of the largest economic entities that are corporations has fallen 20 percent

Fons Trompenaar believed that cultures generally proved to be indistinguishable from one to the other

Subsidies are special privileges that governments provide to businesses in order to attract them to a region or to simply have the required funds to operate successfully

The individualism dimension speaks to the extent that people place their own needs and their family above everyone else

Outsourcing production to foreign firms makes it possible for the domestic firm to maximize production and efficiency; however, it results in higher product prices for the consumer

The Foreign Corrupt Practices Act of 1977 makes it illegal to influence foreign officials through personal payment

The introduction of the Euro has significantly reduced the burdens previously associated with foreign currency exchange in this region

John Locke first proposed the theory of absolute advantage in 1776.

A trade deficit occurs when a country is exporting more than it is importing

Fons Trompenaar believed that culture generally proved to be indistinguishable from one to the other

Geert Hofstede introduced the seven dimensions of culture

Certain industries should not be modeled using the perfect competition assumption according to the new trade theory

Successful FDI decreases employment and the standard of living for nationals in the host country

"Targeted Globalization" explains the phenomenon that the globalization of a product or service is more likely to succeed when that product or service is adapted specifically to each locality or culture to which it is marketed

The impact of barriers to foreign investment led countries to form independent organization known as the World Trade Organization (WTO). 

International trade serves as the foundation for the new global economy

Labor and production cost are typically lower in less developed nations creating a continual pull for international corporations

Competitive advantage occurs when a nation is able to produce more of an output than any other nation

The difference between civil law and common law is grounded in the methodological approach to codes and statutes

NAFTA is a major contributor to continental trade growth between Canada and Mexico by reducing trade tariffs and restrictions imposed on them by foreign entities

The conclusion of the World War II marked the beginning of the time period known as American Peace–Pax Americana

A centrally planned economy most often refers to an economic system that is under comprehensive control and regulation by a government in accordance with the plan of economic development

The American model has kept unemployment high, increased prices, and creased an environment that fosters change in how the economy functions

Globalization is a relatively new paradigm

Low context communication is effective in most of the USA

The Export-Import Bank is the official export credit agency of the European Union

Proper business etiquette is of little concern to the business manager starting a new job in foreign place

Subsidies are special privileges that governments provide to the businesses in order to attract them to a region or simply to have funds required to operate successfully

The Industrial Revolution was characterized by a marked surge in manufacturing techniques that included: mass assembly, electricity, and new forms of propulsion

Words have the same meaning across all languages

Religion is an important factor in culture around the world

An ethnocentric multinational corporation (MNC) is one in which the company considers very carefully the cultures of the countries that it operates in when making business decisions

Countries with high GNP, score high on measures of welfare and life expectancy

Verbal communication includes body language

If foreign ownership decreases faster than domestic ownership then the country is said to have capital account surplus

An economic policy whereby governments accumulate wealth in the form of gold bouillon is mercantilism

A multinational corporation is one that delivers services in at least 1 country

The current account, sometimes called the financial account, is the sum of every nation's gross income from trade in goods and services

A tariff is a tax applied to selected categories of imports

Embargoes are economic and trade sanctions against target foreign countries, groups, organizations, and individuals

The global manager must work to understand the cultures in which he or she does business

Ethics is doing what feels good regardless of moral duty and obligation

Education and experience are both necessary components in handling the complex tasks of managing a global business

Verbal communication includes body language

Since 2000 the proportion of the largest economic entities that are corporations has fallen 20 percent

Muhammad’s disciples (i.s. Islamists) believe that sometime during the seventh century AD, the Angel Gabriel dictated the contents to Muhammad which is viewed as infallible and without error

The dissolution of the Council for Mutual Economic Assistance (CMEA) disrupted many supply chains was one reason why Russia did not adequately make the transition from a centrally planned to market economic system

Ownership risk is defined by the Bank for International Settlement (BIS) as, “the risk of loss resulting from inadequate or failed internal process, people and systems or from external events”

Supporters of protectionism say that by increasing the cost of imported goods through tariffs, the government instituting the barrier penalizes the sending country as well as the citizens it is trying to protect

Developing nations typically have a Human Development Index (HDI) of less than 0.3 according to the Human Development Reports office

The global manager must work to understand the cultures in which he or she does business

A mixed economy is an economic system that allows for the simultaneous operation of publicly and privately owned enterprises.

The three primary types of global economic systems are centrally planned, market, and market growth

The Industrial Revolution was characterized by a marked surge in manufacturing techniques that included mass assembly, electricity, and new forms of propulsion

Muslims are legally required to give one­fortieth of their income to the needy

The Magna Carta Libertatum charter is sometimes credited with stimulating the growth of free trade during the middle ages

Foreign Direct Investment occurs when organizations become more involved in the global community by purchasing land or other resources in foreign nations

A trade deficit occurs when a country is exporting more than it is importing

The WTO has endorsed attempts by various organizations to develop legal standards with a special emphasis on corporate and financial institution laws

According to Trompenaar’s model of culture, people in Universalistic cultures share the belief that general rules, codes, values and standards take precedence over particular needs and claims of friends and relations

The current account, sometimes called the financial account, is the sum of every nation's gross income from trade in goods and services.

Hofstede’s fifth dimension of national culture, Long­term Orientation, was derived from a values inventory suggested by Asian researchers and is reminiscent of the teachings of Confucius

Proper business etiquette is of little concern to the business manager starting a new job in foreign place

Words have the same meaning across all languages

According to the new trade theory, certain industries should not be modeled using the perfect competition assumption

Fons Trompenaar believed that cultures generally proved to be indistinguishable from one to the other

An economic policy whereby governments accumulate wealth in the form of gold bullion is referred to as mercantilism

Geert Hofstede introduced the seven dimensions of culture

The Export­Import Bank is the official export credit agency of the European Union

Embargoes are economic and trade sanctions against target foreign countries, groups, organizations, and individuals.

The conclusion of World War II marked the beginning of the time period known as American Peace or Pax Americana.

A multinational corporation is one that delivers services in at least two countries

Communications technologies provide us with the ability to encode our thoughts and purposes clearly.

The WTO is not exclusively about lowering or reducing trade barriers but in some circumstances it supports maintaining trade barriers

One positive aspect of collectivism is that the differences among individuals are emphasized

The impact of barriers to foreign investment led countries to form an independent organization known as the World Trade Organization (WTO).

The individualism dimension speaks to the extent that people place their own needs and their family above everyone else.

Successful FDI decreases employment and the standard of living for nationals in the host country

Globalization is a relatively new paradigm

Paul Krugman developed and published the International Product Life Cycle Theory in

1966

The beliefs of Judaism can be seen in the words of Moses Maimonides who was a Spanish Jew that condensed the beliefs into a concise thirteen Articles of Faith

A competitive advantage occurs when a nation is able to produce more output than any other nation.

The foundational rules in the World Trade Organization (WTO), which originated in GATT, deals with the rules of trade between nations at a global or near­global level.

Religion is an important influencer of cultures

“Targeted Globalization” explains the phenomenon that the globalization of a product or service is more likely to succeed when that product or service is adapted specifically to each locality or culture to which it is marketed

Administrative delays impose waiting periods between the time when the quality of the product is determined and when a product can actually be sold in the market

The historical development of international trade and investment theory serves as a framework for understanding global trade patterns and the underlying reason for the growth of trade between nations

Globalization involves assimilation which is referred to as the blending and merging of various cultures.

A high GNP score indicates that countries also score high on measures of welfare and life expectancy

A centrally planned economy most often refers to an economic system that is under comprehensive control and regulation by a government in accordance with the plan of economic development

In the “Great Revelation,” Confucius revealed the step by step process by which one attains self-development

Subsidies are special privileges that governments provide to businesses in order to attract them to a region or to simply have the required funds to operate successfully

Muslims are legally required to give one-fortieth of their income to the needy

Paul Krugman’s New Trade Theory Model demonstrated that in certain industries, government protections of an industry prove advantageous

Horizontal integration occurs when a firm expands its business into different products that are not similar to current lines

Four distinct areas relate to verbal communication are jargon and slang, dialects, humor, and vocabulary and grammar

The introduction of the Euro has significantly reduced the burdens previously associated with foreign currency exchange in the European nations

NAFTA is a major contributor to continental trade growth between Canada and Mexico by reducing trade tariffs and restrictions imposed by foreign entities

Gross Domestic Product (GDP) is the total market value of all the goods and services produced by a nation during a specified period

An ethnocentric multinational corporation (MNC) very carefully considers the cultures of the countries that it operates in when making business decisions

Oral agreements imply strong commitments in high-context cultures

If foreign ownership decreases faster than domestic ownership, then the country is said to have capital account surplus

John Locke first proposed the theory of absolute advantage in 1776

Hofstede's fifth dimension of national culture, Long-term Orientation, was derived from a values inventory suggested by Asian researchers and is reminiscent of the teachings of Confucius.

The Foreign Corrupt Practices Act makes it illegal to influence foreign officials through personal payment.

The conclusion of World War II marked the beginning of the time period known as American Peace or Pax Americana.

Subsidies are special privileges that governments provide to businesses in order to attract them to a region or to simply have the required funds to operate successfully.

The Industrial Revolution was characterized by a marked surge in manufacturing techniques that included mass assembly, electricity, and new forms of propulsion.

Oral agreements imply strong commitments in high-context cultures.

The three primary types of global economic systems are centrally planned, market, and market growth.

Four distinct areas relate to verbal communication are jargon and slang, dialects, humor, and vocabulary and grammar.

Corruption does not concern governments and is solely a business issue.

Paul Krugman developed and published the International Product Life Cycle Theory in 1966.

Words have the same meaning across all languages.

Bribery helps to fuel poverty, especially when high-level public officials steal from their nations or mismanage public resources intended to finance their people's aspirations for a better life.

Horizontal integration occurs when a firm expands its business into different products that are not similar to current lines.

According to Trompenaar's model of culture, people in Universalistic cultures share the belief that general rules, codes, values and standards take precedence over particular needs and claims of friends and relations.`

Education and experience are both necessary components in handling the complex tasks of managing a global business.

A multinational corporation is one that delivers services in at least two countries.

Successful FDI decreases employment and the standard of living for nationals in the host country.

The impact of barriers to foreign investment led countries to form an independent organization known as the World Trade Organization (WTO).

A trade deficit occurs when a country is exporting more than it is importing.

One positive aspect of collectivism is that the differences among individuals are emphasized.

According to Smith's theory of Absolute Advantage, any domestic resource that a nation can buy at a lower price than it would cost to produce domestically should be purchased and not produced.

NAFTA is a major contributor to continental trade growth between Canada and Mexico by reducing trade tariffs and restrictions imposed by foreign entities.

The global manager must work to understand the cultures in which he or she does business.

Labor and production costs are typically lower in less developed nations which creates a continuous pull for international corporations.

Ownership risk is defined by the Bank for International Settlement (BIS) as, "the risk of loss resulting from inadequate or failed internal process, people and systems or from external events".

Muhammad's disciples (i.s. Islamists) believe that sometime during the seventh century AD, the Angel Gabriel dictated the contents to Muhammad which is viewed as infallible and without error.

Developing nations typically have a Human Development Index (HDI) of less than 0.3 according to the Human Development Reports office.

Globalization involves assimilation which is referred to as the blending and merging of various cultures.

Low context communication is effective in most of the USA.

Since 2000 the proportion of the largest economic entities that are corporations has fallen 20 percent.

Social responsibility is the discipline of dealing with what is good and bad as well as with moral duty and obligation.

Fons Trompenaar believed that cultures generally proved to be indistinguishable from one to the other.

John Locke first proposed the theory of absolute advantage in 1776.

A mixed economy is an economic system that allows for the simultaneous operation of publicly and privately owned enterprises.

Local content requirements restrict domestic business operations by hindering imports from reaching a nation or being purchased on the domestic market.

A tariff is a tax applied to a selected category of imports.

If foreign ownership decreases faster than domestic ownership, then the country is said to have capital account surplus.

The introduction of the Euro has significantly reduced the burdens previously associated with foreign currency exchange in the European nations.

Supporters of protectionism say that by increasing the cost of imported goods through tariffs, the government instituting the barrier penalizes the sending country as well as the citizens it is trying to protect.

The dissolution of the Council for Mutual Economic Assistance (CMEA) disrupted many supply chains was one reason why Russia did not adequately make the transition from a centrally planned to market economic system.

The impact of barriers to foreign investment led countries to form independent organization known as the World Trade Organization (WTO).

The tree primary types of global economic systems are centrally planned economy, market economy and market growth economy.

Religion is an important factor in culture around the world.

Education and experience are both necessary components in handling the complex tasks of managing a global business.

The introduction of the Euro has significantly reduced the burdens previously associated with foreign currency.

Ownership risk is defined by the Bank for International Settlement (BIS) as, "the risk of loss resulting from inadequate or failed internal process, people and systems or from external events".

The individualism dimension speaks to the extent that people place their own needs and their family above everyone else.

Embargoes are economic and trade sanctions against target foreign countries, groups, organizations, and individuals.

An ethnocentric multinational corporation (MNC) is one in which the company considers very carefully the cultures of the countries that it operates in when making business decisions.

Successful FDI decreases employment and the standard of living for nationals in the host country.

A tariff is a tax applied to selected categories of imports.

Competitive advantage occurs when a nation is able to produce more of an output than any other nation.&l