International Business Unit 2 Test Review (culture, politics and economics)

Question 1

Which of the following is a characteristic of a mixed economy?

Accepted Answer

Private property owned by individuals, corporations and govt

Question 2

Which of the following is a characteristic of meetings in polychronic cultures?

Accepted Answer

Participants may contribute ideas at any time

Question 3

What type of economic development does Spain have?

Accepted Answer

Developed

Question 4

Immigrant communities within Canada that maintain parts of their own culture are said to have:

Accepted Answer

Formed a subcultuure

Question 5

Cuba is an example of a ...

Accepted Answer

Centrally Planned Economy

Question 6

Underdeveloped countries are also defined as:

Accepted Answer

Third world countries

Question 7

United States is the closest example to a..

Accepted Answer

Market Economy

Question 8

Any attempt to increase a company's effectiveness or efficiency is referred to as:

Accepted Answer

Rationalization

Question 9

Why should we maximize our trade??

Accepted Answer

To increase GDP

Question 10

Which of the following is not one of Geert Hofstede's cultural dimensions?

Accepted Answer

Polychronic versus monochronic

Question 11

A market economy is also known as

Accepted Answer

capitalism

Question 12

At which stage of the business cycle does the economy stop expanding and begin contracting?

Accepted Answer

Peak

Question 13

The 2 primary relations in Japan are

Accepted Answer

Buddhism and Shintoism

Question 14

GDP is a strong economic indicator". GDP goes up when:

Accepted Answer

Production increases

Question 15

Saudi Arabian culture is primarily shaped by:

Accepted Answer

Religion

Question 16

The major difference btwn an autocracy and a democracy is:

Accepted Answer

All of the above

Question 17

Which one of Geert Hofstede's cultural dimensions is related to the way cultures adapt to chang

Accepted Answer

Uncertainty avoidance

Question 18

The stage of the business cycle that is defined as 2 consecutive quarters of negative GDP is:

Accepted Answer

Recession

Question 19

A lagging indicators do not adjust until after the economy has experienced the change. Example

Accepted Answer

Unem. rate will eventually decrease when economy is slumping

Question 20

Exports from TomorrowLand were $10,000, imports were $8,000. Were they in a Surplus or Deficit?

Accepted Answer

Surplus

Question 21

As a Canadian, where can I go if I've lost my passport? (2 possible correct answers)

Accepted Answer

Embassy, Consulate

Question 22

Canada is an example of a mixed economy. This is because...

Accepted Answer

Some profit is kept for the business, while some is taxed

Question 23

For example ... Spain is a developed country because:

Accepted Answer

All of the above

Question 24

For example... Spain is democratic because ....

Accepted Answer

citizen participation (ie: voting)

Question 25

Spain's political system is ...

Accepted Answer

Democratic

Question 26

Developing countries are associated with which of the following characteristics:

Accepted Answer

Improved literacy rates

Question 27

The total goods and services produced in one country in one year is referred to as

Accepted Answer

Gross Domestic Product

Question 28

What situation is knowledge of the culture of the foreign country involved least necessary

Accepted Answer

The export of wheat

Question 29

Exports from TomorrowLand were $10,000, imports were $8,000. What is the surplus?

Accepted Answer

2000

Question 30

Factors that influence the culture of a specific group, such as history are referred to as:

Accepted Answer

Cultural determinants

Question 31

The degree of cultural awareness that a company must have when making foreign business relation

Accepted Answer

All of the above

International Business Unit 2 Test Review (culture, politics and economics)

Questions 31

International Business Unit 2 Test Review (culture, politics and economics)

Questions 31