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Exam 3: Doing Business in Global Markets

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Question 31

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Yesterday,Frank was trying to use his new laptop features,with only a negligible amount of success.His warranty said that he had three months of free technical support,so he promptly called the tech support number.After several minutes,he finally got through to someone who spoke English (the same language he speaks),but the dialect was still difficult to understand.He shook his head as he tried to listen carefully to every word the guy at the help desk provided,and thought to himself,"There are some pros and cons to outsourcing.I'm not certain the service is adding value for the customer."

A) True
B) False

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Question 32

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The Nissan automobile assembly plant in Tennessee is an example of foreign direct investment in the United States.

A) True
B) False

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Question 33

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One advantage of offshore outsourcing is that consumers benefit from lower prices.

Although embargos are enacted upon both imports and exports,this form of trade protectionism is often the result of:

Which of the following terms describes the set of values,beliefs,rules,language,and institutions held by a specific group of people?

An advantage of licensing is that licensors spend little or no money to produce and market their products.These costs are born by the licensees.

The country of New Florentina requires that all imported beverages be contained in clear,well-labeled recyclable glass bottles.Several beverage producers refuse to trade with New Florentina because the cost of glass bottles cuts into their profits to the point where it just isn't worth it.New Florentina has created a nontariff barrier.

The European Union created a single monetary unit to replace the national currencies of twelve member nations.This common currency is known as the:

In 2008,Emerson,Inc.reported that it owns and operates 265 companies worldwide with 23% of its sales coming from Europe,18% from Asia,46% from the U.S. ,and 13% from other parts of the world.Clearly,Emerson exemplifies _______________.

One goal of the World Trade Organization (WTO)is to increase national subsidies on agricultural products.

The United States enjoys a trade surplus in the global market.

The United States is the largest exporter in the world.

Free trade results in a mutually beneficial exchange between and among nations.

A devaluation of the U.S.dollar would make American goods cheaper to foreign buyers.

The Ozark Bike Company recently entered into an agreement with a large Japanese retailer to distribute its bicycles in Japan.Ozark Bike Company sees itself in a favorable position because:

________ tariffs are designed to raise money for the government.

U.S.exports boost the U.S.economy.

Fred Bergsten of the Institute for International Economics estimates that every $1 billion of U.S.exports:

Recently the United States has experienced its highest trade deficits with China.

Global trade is the exchange of goods and services between countries.