A major flaw of the original general agreement on tariffs

Question

Question

Question 1.  Exports are:
all goods and services sold abroad and sent out of a country.
all goods and services purchased abroad and brought into a country
Any commercial transaction that crosses the borders of two or more nations.
none of the above.

Question 2.
All goods and services purchased abroad and brought into a country are called ________.
domestic products
exports
national products
imports

Question 3.
International business is:
all goods and services sold within a country.
use of computer networks to purchase, sell, or exchange products.
any commercial transaction that crosses the borders of two or more nations.
none of the above

Question 4.
________ is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.
International business
Denationalization
Globalization
E-business

Question 5.
A major flaw of the original General Agreement on Tariffs and Trade (GATT) was that it lacked the power to:
erect barriers to trade.
dismantle bilateral trade agreements.
govern exchange rates.
enforce world trade rules.

Question 6.
The _______ is charged with resolving disputes among members.
NAFTA
GATT
WTO
None of the above

Question 7.
Which of the following describes the value of a nation's good goods and services produced by a domestic economy divided by its population?
Gross domestic product (GDP)
Gross domestic product (GDP) per capita
Gross national product (GNP) per capita
Gross national product (GNP)

Question 8.
Which of the following was created to regulate fixed exchange rates and enforce the rules of the international monetary system?
International Monetary Fund
World Trade Organization
European Union
World Bank

Question 9.
Critics of globalization argue that globalization causes environmental conditions to:
increase gradually.
remain at status quo levels.
decline slightly, then level off.
decline significantly.

Question 10.
Which of the following terms is defined as the set of values, beliefs, rules, and institutions held by a specific group of people?
Customs
Rituals
Culture
Aesthetics

Question 11.
The belief that one's own ethnic group or culture is superior to that of others is referred to as:
cultural inheritance.
cultural diffusion.
cultural literacy.
ethnocentricity.

Question 12.
Which of the following terms is used to refer to the positive or negative evaluations, feelings, and tendencies that individuals harbor toward objects or concepts?
Customs
Attitudes
Manners
Values

Question 13.
Which of the following terms is used to refer to any element that represents a culture's way of life, including gestures, material objects, traditions, and concepts?
Intangible product
Tangible product
Aesthetic
Cultural trait

Question 14.
Which of the following terms is used to refer to habits or ways of behaving in specific circumstances that are passed down through generations?
Customs
Attitudes
Values
Manners

Question 15.
A ________ is a system of social stratification in which personal ability and actions determine an individual's social status and mobility.
genealogy system
moksha system
caste system
class system

Question 16.
According to Hofstede's framework, which of the following describes the degree of inequality between people in different occupations?
Power distance
Uncertainty avoidance
Individualism
Collectivism

Question 17.
Which of the following is the world's single largest religion?
Jewish
Christianity
Islamic
Confucianism

Question 18.
Totalitarian political systems include authoritarian regimes such as:
democracy and theocracy.
anarchism and pluralism.
communism and fascism.
capitalism and secularism.

Question 19.
The belief that both private and public groups play important roles in a nation's political activities is called ________.
totalitarianism
capitalism
anarchism
pluralism

Question 20.
Most democratic nations practice ________, in which citizens elect individuals from their groups to help govern the people and pass laws.
public referendums
secular totalitarianism
representative democracy
socialist pluralism

Question 21.
The likelihood that a society will undergo political change that negatively affects local business activity is called ________ risk.
political
investment
economic
cultural

Question 22.
________ is the forced transfer of assets from a company to the government with compensation.
Expropriation
Nationalization
Confiscation
Localization

Question 23.
Which of the following legal systems is based on a detailed set of written rules and statutes that constitute a legal code?
International law
Civil law
Tribal law
Common law

Question 24.
A ________ is a right granted to the inventor of a product or process that excludes others from making, using, or selling the invention.
patent
trademark
civil right
copyright

Question 25.
Scenario: Susan Goes Global with Grape Fizz
Susan is the CEO of Grape Fizz, a global drinks-manufacturing company. She wishes to set up production facilities in other countries and has been advised to assess the political system of each country before she does so.
Susan also decides not to set up production facilities in Margazo, a country which functions by a strict set of religious tenants, because some of them contradict her company's work policy. Expecting potential employees to break away from these traditions is not an option since religion plays an important role in the functioning of the nation. What kind of political system prevails in Margazo?
Pluralistic
Theocracy
Tribal totalitarian
Democracy