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

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.

Which statement about culture is true?

Multinational enterprises can be engines of cultural change.

a moral force that requires the acceptance of certain responsibilities.

A shadow economy is in evidence when

citizens engage in barter agreements to avoid paying taxes.

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

MGT 301 Exam One Prep Flashcards | StudBud