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Question: A multinational is a firm that controls and manages production facilities in
- A. both developed and developing countries
- B. at least two countries
- C. one country but relies on multiple markets for the consumption of goods it produces
- D. at least two developed countries and one developing country
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Question: A no-trade world will have which of the following characteristics:
- A. countries will have same relative endowments of production factors
- B. consumers across countries will have identical and homogenous tastes
- C. there will be no distortions or externalities
- D. all of the above
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Question: According to Adam Smith, the trade between countries should happen___
- A. naturally according to the market forces
- B. under government regulation
- C. using factors that are available
- D. only when a country has an absolute advantage
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Question: According to the principle of comparative advantage:
- A. south korea should export steel
- B. south korea should export steel and dvds
- C. japan should export steel
- D. japan should export steel and dvds
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Question: According to this theory, the holdings of a country’s treasure primarily in the form of gold constituted Its wealth.
- A. gold theory
- B. ricardo theory
- C. mercantilism
- D. hecksher theory
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Question: Business across several countries with some decentralization of management decision making to subsidiaries is
- A. global business
- B. multinational business
- C. transnational business
- D. multi-regional business
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Question: By entering into international business, a firm expects improvement in
- A. marketing
- B. all spheres of marketing, operation and finance simultaneously
- C. any or all spheres of marketing, operation and finance
- D. finance only
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Question: By having business in different countries, a firm reduces
- A. credit risk
- B. political risk
- C. financial risk
- D. business risk
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Question: Comparative Cost Trade Theory is given by
- A. adam smith
- B. david ricardo
- C. gottfried haberle
- D. heckscher ohlin
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Question: ___corporation produces in the home country or in a single country and focuses on marketing these products globally or vice a versa.
- A. global
- B. international
- C. transnational
- D. none of the above
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Question: Country A has an absolute advantage in
- A. product x
- B. product y
- C. neither x nor y
- D. both x and y
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Question: Free international trade maximizes world output through
- A. countries specializing in production of goods they are best suited for
- B. reduction in taxes
- C. increased factor income
- D. encouraging competition
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Question: Globalization refers to:
- A. lower incomes worldwide
- B. less foreign trade and investment
- C. global warming and their effects
- D. a more integrated and interdependent world
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Question: Horizontal integration occurs when
- A. firm creates singular country production facilities, each of which produces different good or goods
- B. firm creates multiple production facilities, each of which produces the same good or goods
- C. firm creates multiple production facilities, each of which produces different good or goods
- D. firm creates singular country facilities, each of which produces the same good or goods
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Question: If a German manufacturer of household appliances wants to take advantage of the cheaper labor available in the Czech Republic, which of the following actions will not serve that purpose?
- A. build a manufacturing subsidiary there and employ czech workers
- B. build a plant in the czech republic and send all german workers to operate it
- C. license a czech firm to produce its products under its own label
- D. contract for a czech firm to do some of the processing for it
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Question: If a nation has an open economy it means that the nation:
- A. allows private ownership of capital
- B. has flexible exchange rates
- C. has fixed exchange rates
- D. conducts trade with other countries
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Question: Immobility of labor among nations is
- A. absolute
- B. relatively of a higher degree than among regions in the same country
- C. relatively easier than movement within the country
- D. of the same degree as within the country
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Question: International business does not result in the following
- A. innovation is encouraged
- B. international cooperation is encouraged
- C. imports are rendered cheap
- D. consumption is minimized
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Question: International trade forces domestic firms to become more competitive in terms of
- A. the introduction of new products
- B. product design and quality
- C. product price
- D. all of the above
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Question: International Trade is most likely to generate short-term unemployment in:
- A. industries in which there are neither imports nor exports
- B. import-competing industries
- C. industries that sell to domestic and foreign buyers
- D. industries that sell to only foreign buyers
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