Per capita GDP is a better measure of a nation's economic development than total GDP because

it gives better comparison between countries of diff sizes

The consumer price index shows

price levels for various products and services

Opportunity cost refers to the

things given up when a choice is made

Historically, international business

probably occurred as long as 15,000 years ago

Money given as foreign aid to another country

decreases balance of payments of country making the payment

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Global Business - Final Review

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Questions 21

Answers

1
Of the following countries, the one in which there are strong ties between family and business
the United States
Mexico
Australia
Canada
2
A cultural factor affecting international business activities would be
stability of the money supply
government policies toward business
the availability of natural resources
family relationships
3
As the demand for a product increases, prices tend to
first decline, then rise
rise
remain constant
fall
4
Business subcultures would probably be very similar in
France, Egypt, and Chile
Argentina, Chile, Venezuela
Mexico, The United States, France
The U.K., U.S.A, and Italy
5
An organization that bonds countries together to allow a free flow of products is
a monopoly
an economic community
a balance of trade agreement
an industry
6
Per capita GDP is a better measure of a nation's economic development than total GDP because
it gives better comparison between countries of diff sizes
it shows how the unemployment rate affect GDP
it shows price levels for different products
it shows how wealthy each person in the country is
7
A situation in which a few large companies control an industry is called
an oligopoly
a free-trade zone
a competitive market
a monopoly
8
High-context communication is typical in
Japan
Germany
Canada
The United States
9
Private property, profit motive, and a free, competitive marketplace are characteristics of
mixed economy
market economy
None of the answers
command economy
10
The consumer price index shows
total price of the goods and services produced by a country
price levels for various products and services
how many consumer products a foreign currency can purchase
comparative advantage
11
In most cultures' beliefs about gender roles
males are the primary workers outside the home
none of the answers
females may work outside the home but are notprimary support
both males and females work outside the home
12
Voting for public officials who want to expand foreign trade is part of a person's role as
business owner
worker
citizen
consumer
13
Mrs. Pintz's first name is
Mary
Sarah
Susan
Nancy
14
There are how many seniors in this class?
3
10
6
8
15
Opportunity cost refers to the
wages paid to workers in factories and offices
products bought by one country from another country
rising prices in an economy
things given up when a choice is made
16
Historically, international business
none of the answers
declined when European countries created colonies
is a relative new concept
probably occurred as long as 15,000 years ago
17
When demand exceeds supply and prices go up. Type of inflation?
cost-push
cost-pull
demand-push
demand-pull
18
Money given as foreign aid to another country
has a positive effect on the trade surplus
has a negative effect on the trade deficit
Increases balance of payments of country making the payment
decreases balance of payments of country making the payment
19
Of the following choices, the one that is not a characteristic of culture is
always written down
learned
shared
unifying
20
The forces of supply and demand are the major influence on prices in
pure competition
an oligopoly
a duty-free market
a monopoly
21
Mrs. Pintz's husband's name is
Dean
Joe
Douglas
Michael

Global Business - Final Review Flashcards | StudBud