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Liberty University BUSI 303 quiz 1 complete solutions IF You Want To Purchase A+ Work Then Click The BUYNOW BUTTON , Instant Download

BUYNOW $25 Foreign Direct Investment is an attractive option for firms looking to diversify their investment portfolios, creating opportunities for firms looking to enter emerging markets. As globalization becomes more embedded in daily life, tolerance must continue to increase in order to avoid unnecessary polarization - again reinforcing the notion that globalization is not assimilation. The global business manager must possess a strong domestic awareness and must understand the unique factors that contribute to the success of a global business, including vast working experience. Advocates for globalization believe that globalization promotes: The global business manager must resist any urge to instinctively trust line managers and instead apply his or her discipline and critical thinking capacity to formulate decisions that are most conducive to the international operating environment. Began towards the end of the nineteenth century, creates interdependencies among nations, requires transparency International exchange is a recent concept. United States' imports primarily came from which country: Standardization requires that business people understand the seamless international marketplace The Pax Romana heralded the introduction of mass production, improved transportation, technological progress, and the industrial factory system Heralded mass production and technological progress, improved transportation NAFTA facilitated the importation and exportation of goods and services between the US, Mexico, and Canada Three barriers to trade: Radio and telephone networks were widespread in developed nations, the launch of the Sputnik 1 satellite, the personal desktop computer became a commonplace household fixture Economic health is considered positive when a country imports considerably more than it exports. Three driving forces of globalization: Pax Americana, Latin for "American peace," is the period of relative peace in the Western world since the end of World War II in 1945, coinciding with the dominant military and economic position of the U.S.


Given the choices Mergers/Acquisitions, Subsidies, and Sanctions - which of the following is a barrier to trade? Globalization has created what critics refer to as a melting pot or peaceful cooperation of various cultural identities ISO standards specify the requirements for state-of-the-art products, services, processes, materials and systems, and for good conformity assessment, managerial and organizational practice. ISO stands for Globalization has impacted these aspects of the international community: What is a type of political risk for global managers? The World Trade Organization (WTO) was established in the early 1970s to help foster international trade and resolve disputes KSA stands for

1. A form of verbal language includes a. Hand gestures b. Facial expressions c. A country’s dominant language d. Boy language 2. Regardless of the managerial cultural paradigm in use, the business profession recognizes that an understanding of the major dimensions of culture is essential for success in doing business overseas. a. True b. False 3. From 1967 to 1973, Fons Trompenaar (Geert Hofstede) applied the subset of cultural dimensions to the field of business management, segregating them into independent areas to be further divided in order to get a more precise understanding. a. True b. False 4. Trompenaar believed that every culture distinguishes itself from others by the specific solutions it chooses to certain problems and dilemmas. a. True b. False 5. The Premise of ____________ was that Leadership effectiveness is contextual and is embedded in the societal and organizational beliefs, norms, and values of the people being led. a. Cross Cultural Analysis Model b. The Globe Study c. Model of Culture Study d. 7 Dimensions of Culture 6. Culture is the set of shared attitudes, values, ____________, and practices that characterize a society. a. Goals


b. Dreams c. Education level d. Language 7. Which of the following is NOT a cultural paradigm? a. Ethnocentric b. Polycentric c. Monocentric d. Geocentric 8. Effective, cross-cultural communicators must know how to properly pronounce words, how to properly spell words, and how to use these words in proper grammatical form. a. True b. False 9. __________, as the opposite of ___________, promotes openness towards other cultures, opinions, and ways of life. a. Polycentrism, monocentrism b. Geocentrism, ethnocentrism c. Ethnocentrism, monocentrism d. Polycentrism, ethnocentrism 10. Polycentric (ethnocentric) managers think home-country nationals are more intelligent, reliable and trustworthy than foreign. a. True b. False. 11. The geocentric organization’s primary objective is to develop an integrated system with a(n) _____. a. Worldwide approach b. Centrally located approach c. International approach d. None of the above 12. Which of the following is true regarding the use of words across languages? a. Differences in pronunciation and meaning can lead to misunderstandings b. Difference cultures and languages may not always present or interpret messages in the same context. c. Cross-cultural or cross-religion barriers exacerbate the misunderstandings that arise when trying to communicate a message d. Educational levels may cause a communication lapse within a country’s own language. 13. Business ethics is the study of ethical dilemmas, values, and decision making in the world of business. Business ethics should not be considered a separate disciple from ethics. a. True b. False 14. Which of the following is a characteristic of a high-context culture? a. Rule oriented b. More knowledge is codified, public, external, and accessible c. More interpersonal connections or shorter duration


d. Knowledge is situational and relational. 15. Congress enacted the Foreign Corrupt Practices Act (FCPA) to bring a halt to the bribery of foreign officials and to restore public confidence in the integrity of the U.S. business system. a. True b. False 16. The anti-bribery provisions of the OECD make it unlawful for a U.S. Person, and certain foreign issuers of securities, to make a corrupt payment to a foreign official for the purpose of securing business with or directing business to any person. a. True b. False 17. Three branches of Judaism include a. Orthodox, Reservists, Conformists b. Reform, Orthodox, Conservatives c. Conservatives, Reservists, Reform d. Reservists, Orthodox, Reform 18. All of the following are part of the 5 pillars of the faith in the Muslim religion except a. Prayer must be done seven (five) times a day b. Give one-fortieth of their income to the needy c. During the holy month of Ramadan, faithful Muslims fast from sunrise to sunset each day d. Each Muslim is expected to make the pilgrimage to Mecca at least once in his or her lifetime 19. An ascribed status is one that society assigns to an individual on the basis of factors over which the individual has no control: gender, race, ethnic background, and socioeconomic status, into which one is born. a. True b. False 20. Which of the following is a dimension in Fons Trompenaar’ss Model of Culture? a. Diffuse b. Power Distance c. Uncertainty Avoidance d. Masculinity 21. In high (low)- context cultures, enforceable contracts will tend to be in writing, precisely worded, and highly legalistic. high (low) context cultures value directness. Managers are expected to be explicit and precise in conveying intended meaning. a. True b. False 22. Communication between two cultures can be awkward if professionals do not conduct proper research. a. True b. False


23. People in a particularism culture see the ideal culture in terms of human friendship, extraordinary achievement and situations, and intimate relationships. a. True b. False 24. In an ____________ culture, people place the individual before the community; individual happiness, fulfillment, and welfare set the pace. a. Individualistic b. Specific c. Particularism d. Internal 25. _______________ culture: time moves around in cycles; people tend to do several things at a time; time is flexible and intangible. a. Internalistic b. Diffuse c. Achievement d. Synchronic 26. People in a _____________ culture share the belief that general rules, codes, values, and standards take precedence over particular needs and claims of friends and relations. a. Universalism b. Individualist c. Particularism d. Internal 27. ____________________ status refers to what an individual does and has accomplished. a. Achievement b. Synchronic c. Ascription d. Independent 28. Synchronic (Sequential) culture tend to do one thing at a time view time as a narrow line of distinct, consecutive, segments. a. True b. False 29. In a _________________ culture, people start with the whole and see each element in perspective of the total; the whole is more important that the sum of its elements. Individuals have a large private sphere and a small public one. a. Communitarian b. Diffuse c. Universalism d. Internal 30. Internalistic cultures have a mechanistic view of nature; nature is a complex machine, and machines can be controlled if one has the right expertise; people do not believe in luck or predestination; a. True b. False


1. Nations that primarily functioned under the centrally planned economic system prior to the 1980s, such as China and Russia, have embraced the market economy. a. True b. False 2. Global business risk is any worldwide factor- outside the laws of supply and demand- that could impact the success or failure of any venture moving into the international areana. a. True b. False 3. __________ imposes a waiting period between the determination of a product’s quality and the determination of when it can actually be sold in a market a. Local content requirements b. Tariff c. Currency controls d. Administrative delays 4. Which type of risk do managers have some control over? a. Organizational b. Operational c. Transfer d. Ownership 5. Operation (transfer) risk occurs when debtors in a country are unable to ensure timely payments of foreign currency debt service because of either transfer or exchange restrictions or a general lack of foreign currency. a. True b. False 6. The WTO was designed to a. Stimulate economic opportunities for U.S. businesses and their employees b. Monitor trade around the entire world c. To promote regional trade d. Develop international monetary standards 7. The Organization for Economic Cooperation and Development (OECD), the World Trade Organization, the World Bank, and the International Monetary Fund have all indicated that unstable political systems (corruption is) are the greatest single barrier to economic development worldwide. a. True b. False 8. Which of the following is an economic trade sanctions against targeted foreign countries, groups, organizations, and individuals, which can be politically, economically, or morally motivated? a. Tariffs b. Quotas c. Embargoes d. Foreign Trade Zones


9. Any company considering moving into a foreign economic market must consider the powerful influence of the military and religious leadership. a. True b. False 10. Political issues that significantly impact global business include a. Government prevention of trade b. Government control of trade c. Government restriction of trade d. None of the above 11. Which of the following is NOT a way that Governments promote trade? a. Special government agencies b. Subsidies c. Import Financing d. Foreign Trade Zones 12. __________ are special privileges offered by the government in order to attract business to a region or to provide them with the funding to operate successfully. a. Subsidies b. Bribes c. FTZs d. Tariffs 13. Which of the following is designed to raise revenue for governments and provide a competitive advantage for domestic businesses? a. Tariffs b. Quotas c. Embargoes d. Foreign Trade Zones 14. Cultures such as China, North Korea, and Cuba believe that an economic value system should be founded on cumulative efforts, controlled by greater entities or governments. a. True b. False 15. Which of the following are designated areas in Customs Ports of Entry that allow commercial merchandise to receive the same customs treatment it would receive if it were outside the commerce of the United States. a. Tariffs b. Quotas c. Embargoes d. Foreign Trade Zones 16. A market (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. a. True b. False 17. Supplier’s credit is a. Loan in which the exporter is covered, but the value of the cover will ber less than the value of the contract.


b. Loan in which the importer is covered, but the value of the cover will be less than the value of the contract. c. Loan in which the exporter is covered, but the value of the cover will be more than the value of the contract. d. Loan in which the importer is covered, but the value of the cover will be more than the value of the contract. 18. Quotas typically a. Decrease the price of imports, increase the volume of imports, and encourage demand for foreign made substitutes. b. Raise the price of imports, reduce the volume or imports, and encourage demand for domestically made substitutes. c. Raise the price of exports, reduce the volume of imports, and encourage demand for domestically made substitutes. d. Decrease the price of exports, reduce the volume of exports, and encourage demand for domestically made substitutes. 19. Which of the following is NOT a purpose behind embargoes? a. Protecting the assets of allies from hostile actions b. Assuring that the assets of targets will be available to meet future claims c. Increasing resources or technology d. Punishing a country or group for unacceptable behavior 20. The three types of global business risk include ownership, operational risk and transfer risk. a. True b. False 21. Which of the following are types of risk companies are exposed to in International transactions? a. Violence and Conflict b. Terrorism and Kidnapping c. Confiscation and expropriation d. All of the above 22. In 1975 (1995), as a business and policy makers’ alike saw the potential growth of global business, the World Trade Organization (WTO) was created by several counties in order to monitor trade around the entire world. a. True b. False 23. Which of the following places power in the hands of customs officials? a. Tariffs b. Quotas c. Embargoes d. Foreign Trade Zones 24. The U.S. Department of Commerce developed the International Trade Administration (ITA) in order to stimulate economic opportunities for U.S. businesses and their employees. a. True b. False


25. The United States Department of the Treasury oversees and enforces all U.S. economic sanctions through the Office of Foreign Assets Control (OFAC). a. True b. False 1. Though the World Trade Organization (WTO) has officially existed since 1975 (1995), the foundation for the rules in this trading system originates in the GATT. a. True b. False 2. In order to achieve economic advantage, a nation should specialize, produce, and export only products where the nation holds an absolute advantage. a. International Product Life Cycle Theory b. Absolute Advantage Theory c. Comparative Advantage Theory d. Factor Proportions Theory e. New Trade Theory 3. If a nation’s ________________ far exceed its ____________, then the balance of payments is out of control, or more simply stated, out of balance. a. Imports, FDI b. Surpluses, imports c. Imports, deficits d. Surpluses, deficits 4. As organizations become more involved in the global community, they may opt to purchase land or other resources in other nations. This activity known as foreign direct investment (FDI), is commonly used to purchase real estate and existing properties. a. True b. False 5. Nations can benefit from trade even when one trading partner does not have an absolute advantage on any of the products being traded. a. International Product Life Cycle b. Absolute Advantage Theory c. Comparative Advantage Theory d. Factor Proportions Theory e. New Trade Theory 6. The General Agreement on Tariffs and Trade (GATT) was singed on January 1, 1948. a. True b. False 7. Keeping track of the activity surrounding international trade and investment is done by maintaining a record of all international transactions, otherwise known as the balance of payments (BOP). a. True b. False 8. The activity, known as ________________ is when companies opt to purchase land or other resources in other nations.


a. Foreign Direct Investment b. Foreign Direct Inventories c. Frequent Domestic Investment d. Frequent Direct Investment 9. The equation represents the relationship between trade deficits and surpluses is expressed as: Exports – Investments = Savings – Imports a. True b. False 10. Operations of production are moved to a less-developed nation and the cycle is complete as highly-developed nations become importers of this product. a. International Product Life Cycle Theory b. Absolute Advantage Theory c. Comparative Advantage Theory d. Factor Proportions e. Theory f. New Trade Theory 11. Government interventions may be used to decrease global competitiveness. a. True b. False 12. Which of the following is NOT true regarding GATT? a. Originally created by the Bretton Woods Conference as part of a larger plan for economic recovery after World War II b. Its primary purpose was to reduce barriers to FDI c. Representatives from twenty nations accepted what would later be considered the precursor to the EU (WTO). d. The first attempt at setting international trade rules covered forty-five thousand tariffs and 20 percent of the world trade. 13. The WTO encourages nations to practice the Golden Rule on a national level, pointing out that foreigners and foreign industries should be treated just like the locals and domestic industries a. True b. False 14. The two ways companies can engage in FDI include a. Capital Investments and Joint ventures b. Mergers and foreclosures c. Greenfield investments and acquisitions d. None of the above 15. Which of the following is NOT a strategic goal of FDI? a. Establishing a presence in a new geographic market b. Creating and maintaining global competitiveness c. Filling gaps in global product lines d. Reducing capital and labor costs. (Production and logistical costs). 16. Socialism (Protectionism) is the economic policy of restraining trade between nations. a. True b. False


17. The Balance of Payments a. Is the sum of all monies that flow in and out of a government run program b. Includes imports, goods, land, people, and financial investments c. Acts as a gauge to track the coming and going of international trade dollars d. Is usually calculated on a semi-annual basis 18. All of the following are factors tha can affect the international BOP and either create or reduce surpluses and deficits except a. Prices of domestic goods b. Mergers and acquisitions c. Trade agreements d. Taxes and tariffs 19. Government interventions may a. Be used to increase global competitiveness b. Intervene to keep the balance of payments under control c. Promote protectionism d. A and B only e. All of the above 20. When considering FDI, the most important consideration facing a corporation is the type of ___________ and _______________ the investing corporation will have over the foreign entity. a. Ownership, control b. Partnership, political sway c. Ownership, authority d. Control, authority 21. Equity capital is the value of MNC’s investment in shares of an enterprise in a foreign country a. True b. False 22. Governments play a major role in support of technology by crafting industryspecific measures, such as tax credits for research and development of new technologies and trade policies that support essential technological sectors. a. International Product Life Cycle Theory b. Absolute Advantage Theory c. Comparative Advantage Theory d. Factor Proportions Theory e. New Trade Theory 23. Ownership in foreign entities can be a complete or a controlling stake in the form of either a joint venture or through stock purchases and acquisitions of existing corporations. (Wholly-owned subsidiary or through mergers and acquisitions of existing corporations). a. True b. False 24. Attempts to explain that nations will produce and export goods that use the highest proportions of those factors of production that are most abundant to the nation.


a. International Product Life Cycle Theory b. Absolute Advantage Theory c. Comparative Advantage Theory d. Factor Proportions Theory e. New Trade Theory 25. In mathematical terms the current account is expressed as a. Exports – Investments = Savings – Imports b. Exports – Imports = Savings – Investments c. Exports + Imports = Savings + Investments d. Exports – Imports = Savings + Investments

Question 1 2 out of 2 points

The antibribery provisions of the OECD make it unlawful for a U.S. person, and certain foreign issuers of securities, to make a corrupt payment to a foreign official for the purpose of securing business with or directing business to any person. 

Question 2 2 out of 2 points

As globalization becomes more embedded in daily life, tolerance must continue to increase in order to avoid unnecessary polarization—again reinforcing the notion that globalization is not assimilation. 

Question 3 2 out of 2 points

Congress enacted the Foreign Corrupt Practices Act (FCPA) to bring a halt to the bribery of foreign officials and to restore public confidence in the integrity of the U.S. business system. 

Question 4 2 out of 2 points

Foreign direct investment is an attractive option for firms looking to diversify their investment portfolios, creating opportunities for firms looking to enter emerging markets.


Question 5 2 out of 2 points

Which of the following is a dimension in Fons Trompenaar's Model of Culture? 

Question 6 2 out of 2 points

Effective, cross-cultural communicators must know how to properly pronounce words, how to properly spell words, and how to use these words in proper grammatical form. 

Question 7 2 out of 2 points

Internalistic cultures have a mechanistic view of nature; nature is a complex machine, and machines can be controlled if one has the right expertise; people do not believe in luck or predestination. 

Question 8 2 out of 2 points

In high-context cultures, enforceable contracts will tend to be in writing, precisely worded, and highly legalistic. High-context cultures value directness. Managers are expected to be explicit and precise in conveying intended meaning. 

Question 9 2 out of 2 points

Trompenaar believed that every culture distinguishes itself from others by the specific solutions it chooses to certain problems and dilemmas. 

Question 10 2 out of 2 points

Synchronic cultures tend to do one thing at a time view time as a narrow line of distinct, consecutive, segments. 

Question 11 2 out of 2 points

An ascribed status is one that society assigns to an individual on the basis of factors over which the individual has no control: gender, race, ethnic background, and socioeconomic status, into which one is born.


Question 12 2 out of 2 points

The World Trade Organization (WTO) was established in the early 1970s to help foster international trade and resolve disputes. 

Question 13 2 out of 2 points

Polycentric managers believe that home-country nationals are more intelligent, reliable, and trustworthy than foreign. Selected Answer: 

Question 14 2 out of 2 points

The Industrial Revolution heralded the introduction of which of the following? Selected Answer:

Question 1 3.2 out of 3.2 points Conducted extensive research on different countries, and from that, developed his “Seven Dimensions of Cultural Model.” Question 2 3.2 out of 3.2 points Which aspect of globalization is incorrect? Question 3 3.2 out of 3.2 points NAFTA was a major contributor to continental trade growth between the United States, Mexico, and Canada because it eased quotas, tariffs, and customs procedures. Question 4 3.2 out of 3.2 points When the topic of culture is discussed 3 major culture paradigms should be considered: Ethnocentric, Polycentric, and Multicentric

All of the above


Question 5 3.2 out of 3.2 points Which best describes communication within high context societies? Question 6 3.2 out of 3.2 points Communication in a high context society is often characterized by strong boundaries—who is accepted as belonging vs. who is considered an “outsider.” Question 7 3.2 out of 3.2 points Global and domestic business are different in what distinct ways? Selected Answer: Question 8 3.2 out of 3.2 points Globalization has impacted the Question 9 3.2 out of 3.2 points Forces driving the trend towards globalization include all except Selected Answer: Question 10 3.2 out of 3.2 points I completed the following portion of the work book and read the required chapter.

Question 1 2 out of 2 points Internalistic cultures have a mechanistic view of nature; nature is a complex machine, and machines can be controlled if one has the right expertise; people do not believe in luck or predestination.

Question 2 2 out of 2 points


Globalization has impacted the aspects of the international community 

Question 3 2 out of 2 points ____________ culture: time moves around in cycles; people tend to do several things at a time; time is flexible and intangible.

Question 4 2 out of 2 points ____________status refers to what an individual does and has accomplished;

Question 5 2 out of 2 points Three branches of Judaism include

Question 6 2 out of 2 points In a(n) ____________ culture, people place the individual before the community; individual happiness, fulfillment, and welfare set the pace.

Question 7 2 out of 2 points ISO standards specify the requirements for state-of-the-art products, services, processes, materials and systems, and for good conformity assessment, managerial and organizational practice.

Question 8 2 out of 2 points


Economic health is considered positive when a country imports considerably more than it exports. 

Question 9 0 out of 2 points Which of the following is NOT a driving force of Globalization?

Question 10 2 out of 2 points Which of the following is NOT true about globalization?

Question 11 2 out of 2 points Regardless of the managerial-cultural paradigm in use, the business professional recognizes that an understanding of the major dimensions of culture is essential for success in doing business overseas.

Question 12 2 out of 2 points Barriers to trade include all of the following except:

Question 13 2 out of 2 points The antibribery provisions of the OECD make it unlawful for a U.S. person, and certain foreign issuers of securities, to make a corrupt payment to a foreign official for the purpose of securing business with or directing business to any person.

Question 14 2 out of 2 points


In high-context cultures, enforceable contracts will tend to be in writing, precisely worded, and highly legalistic. High-context cultures value directness. Managers are expected to be explicit and precise in conveying intended meaning. 

Question 15 0 out of 2 points Foreign direct investment is an attractive option for firms looking to diversify their investment portfolios, creating opportunities for firms looking to enter emerging markets.

Question 16 2 out of 2 points The Premise of the ____________ was that Leadership effectiveness is contextual and is embedded in the societal and organizational beliefs, norms, and values of the people being led.

Question 17 2 out of 2 points As globalization becomes more embedded in daily life, tolerance must continue to increase in order to avoid unnecessary polarization—again reinforcing the notion that globalization is not assimilation.

Question 18 2 out of 2 points Synchronic cultures tend to do one thing at a time view time as a narrow line of distinct, consecutive, segments.

Question 19 2 out of 2 points The global business manager must resist any urge to instinctively trust line managers and instead apply his or her discipline and critical thinking capacity to


formulate decisions that are most conducive to the international operating environment. 

Question 20 2 out of 2 points Communication between two cultures can be awkward if professionals do not conduct proper research.

Liberty university busi 303 quiz 1 complete solution  
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