What's implied by the fact that in today’s marketplace, the volume of world trade is growing faster than world GDP?

The economies of the world’s nation-states are becoming more intertwined.

A shadow economy is in evidence when

citizens engage in barter agreements to avoid paying taxes.

When trade barriers began to fall, what was the motivation for much of the foreign direct investment by non-U.S. firms?

desire to disperse production activities to optimal locations

Which statement about culture is true?

Multinational enterprises can be engines of cultural change.

a moral force that requires the acceptance of certain responsibilities.

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MGT 301 Exam One Prep

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study guide material for exam one covering chapters 1, 2, 3 and 4 in MGT 301

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Questions 16

Answers

1
The needs of society as a whole are viewed as being more important than individual freedoms when the emphasis is on
collectivism
democracy
individualism
capitalism
2
When a country sells a state-owned monopoly, like telecommunications system, to private investors, it is an example of
communism
economizing
privatization
protectionism
3
Under a civil law system, it is the responsibility of a judge only to __________ the law.
create
assess
apply
interpret
4
Theocratic law systems are based on
a detailed set of codes and laws.
beliefs of the ruling class.
legal precedent.
religious teachings.
5
Which ethical system has influenced behavior and shaped culture in parts of Asia, but is not considered a religion?
Hinduism
Islam
Buddhism
Confucianism
6
Gross national income figures should...
political power.
market conditions.
government intervention.
the cost of living.
7
The labor, energy, land, and capital a country relies on to source goods and services are known as
the globalization of markets.
factors of production.
the marketing mix.
trade tariffs.
8
What's implied by the fact that in today’s marketplace, the volume of world trade is growing faster than world GDP?
The economies of the world’s nation-states are becoming more intertwined.
companies are relying on domestic firms to obtain parts.
The world has experienced a loss of overall wealth in the last two decades.
More countries are imposing trade barriers to minimize competition.
9
What are the three broad forms of economic systems?
market, command, and mixed
laissez-faire, authoritarian, egalitarian
local, state, federal
individualist, collectivist, majoritarian
10
The three measures of this are life expectancy, educational attainment, and average incomes based on PPP estimates.
Gross Domestic Product
Human Development Index
Gross National Income
Cost of Living Index
11
A shadow economy is in evidence when
citizens engage in barter agreements to avoid paying taxes.
the expenses of the government are less than its income.
a country's GNI per capita exceeds $30,000.
a country has a trade surplus with another foreign country.
12
In a market economy, it is important that product supply not be restricted by a producer. In other words, ______
start-ups
entrepreneurism
globalization
monopolies
13
When trade barriers began to fall, what was the motivation for much of the foreign direct investment by non-U.S. firms?
desire to disperse production activities to optimal locations
demand for skilled workers in foreign nations
lack of adequate environmental regulations
need to suppress emerging economies such as China, India, and Brazil
14
Which statement about culture is true?
Culture is static as it does not evolve.
The values and norms of a culture emerge fully formed.
Multinational enterprises can be engines of cultural change.
It is not possible for a country to support multiple cultures.
15
In Italy Catherine noticed restaurants were slower to deliver food and expected customers to stay longer than she was u
law
rule
value
folkway
16
Dharma refers to
a moral force that requires the acceptance of certain responsibilities.
a lack of belief in one God.
the belief in reincarnation.
the spiritual progression of each person’s soul.

MGT 301 Exam One Prep Flashcards | StudBud