国际商务期末试题及答案.doc

I B Midterm Examination Answering card (A)CLASS:1001NAME:NUMBER:(1-10，1 score per question; 11-50,2score per question;50-60, 1 score per question)..0.I. True / False Questions (1 score per question)1.The notion that national economies are relatively self-contained entities is on the rise.2. Mercantilism advocated that countries should encourage exports and imports.3.A firm becomes a multinational enterprise when it undertakes foreign direct investment.4.The two most common methods of restricting inward FDI are ownership restraints and performance requirements.5. The most global markets currently are markets for industrial goods and materials that serve a universal need the world over.6. Outsourcing is a process that is limited to manufacturing enterprises.7. According to Porter, four broad attributes of a nation shape the environment in which local firms compete including supply conditions, factor endowments, regulation, and advanced factors.8. One of the UN central mandates is the promotion of higher standards of living, full employment, and conditions of economic and social progress and development9. The total amount of capital invested in factories, stores, office buildings and the like is referred to as the stock of FDI.10. Licensing involves the establishment of a new operation in a foreign country.II. Multiple Choice Questions(11-50,2score per question; 51-60, 1 score per question)11.Which of the following is not characteristic of globalization?A.National economies are turning into independent economic systems.B.Material culture is starting to look similar the world over.C.Perceived distance is shrinking due to advances in transportation and telecommunications.D.Barriers to cross-border trade and investment are declining.12.Which of the following is not an impediment(限制) that makes it difficult for firms to achieve the optimal dispersion（最优分散） of their productive activities to locations around the globe?A.Reduced transportation costs.B.Government regulations.C.Issues associated with economic and political risk.D.Barriers to foreign direct investment.13.Technological innovations have facilitated all of the following except:A.globalization of production.B.globalization of markets.C.creation of electronic global marketplaces.D.creation of absolutely homogeneous（均匀的） consumer markets.14.What is the total cumulative value of foreign investments best referred to as?A.Accumulation of foreign sharesB.Portfolio investmentsC.Stock of foreign direct investmentsD.Stock market investments15.If the critics of globalization are correct, all of the following things must be shown except:A.the share of national income received by labor, as opposed to the share received by the owners of capital should have declined in advanced nations.B.even though labors share of the economic pie may have declined, living standards need not deteriorate if the size of the total pie has increased sufficiently to offset（抵消） the decline in labors share.C.the decline in labors share of national income must be due to moving production to low-wage countries, as opposed to improving production technology and productivity.D.economic growth in developed nations has offset the fall in unskilled workers share of national income, raising their living standards.16.This theory, advanced by the 19th-century English economist David Ricardo, forms the intellectual basis of the modern argument for unrestricted free trade.A.Heckscher-OhlinB.MercantilismC.Comparative advantageD.Absolute advantage17.This theory explains the observed patterns of international trade by emphasizing the interplay between the proportions in which the factors of production are available in different countries and the proportions in which they are needed for producing particular goods.A.MercantilismB. Heckscher-OhlinC. Absolute advantageD.Comparative advantage18.Identify the incorrect statement pertaining to Raymond Vernons product life-cycle theory.A.Early in their life cycle, most new products are produced in and exported from the country in which they were developed.B.As a new product becomes widely accepted internationally, production starts in other countries.C.A product in the early stage of the product life-cycle is imported by the country where it was innovated.D.A product may ultimately be exported back to the country of its original innovation.19.The theory of _, developed by Michael Porter, focuses on the importance of country factors, in addition to factor endowments, such as domestic demand and domestic rivalry in explaining a nations dominance in the production and export of particular products.A.new tradeB.absolute advantageC.comparative advantageD.national competitive advantage20.Identify the theory that can be interpreted as justifying some limited government intervention to support the development of certain export-oriented industries.A.Theory of national competitive advantageB.Heckscher-Ohlin theoryC.Theory of comparative advantageD.Theory of absolute advantage21.Mercantilism viewed trade as a(n):A. economic evil.B.zero-sum game. C.nonessential economic activity.D.threat to a governments independence.22.What is the basic message of the theory of comparative advantage?A.Countries are similar in their ability to produce goods efficientlyB.International trade is rarely beneficial to a countryC.Potential world production is greater with unrestricted free trade than it is with restricted tradeD.Trade is a zero-sum game23.According to the product life-cycle theory, the locus of global production initially switches from the U.S. to other advanced nations and then from those nations to developing countries. The consequence of this trend for the pattern of world trade is that over time the U.S.:A.becomes the sole producer of the product.B.switches from being an exporter of the product to being an importer of the product.C.switches from being an importer of the product to being an exporter of the product.D.becomes the sole consumer of the product.24._ suggests that when nations trade, each nation may be able to specialize in producing a narrower range of products than it would in the absence of trade, and through trade, each nation can simultaneously increase the variety of goods available to its consumers and lower the costs of those goods.A.The product life-cycle theoryB.Porters diamond of competitive advantageC.New trade theoryD.The theory of comparative advantage25.According to the new trade theorists, because early entrants are able to gain _, the early entrants into an industry may get a lock on the world market that discourages subsequent entry.A.zero-sum advantagesB.highly skilled employeesC.process expertiseD.economies of scale26.A greenfield investment:A.is a form of FDI that involves the establishment of a new operation in a foreign country.B.involves a 7 percent stock in an acquired foreign business entity.C.involves a merger with a foreign business.D.occurs when a firm acquires another company in a foreign country.27.Historically, most FDI has been directed at the _ nations of the world as firms based in advanced countries invested in:A.underdeveloped; underdeveloped countries.B.developed; underdeveloped countries.C.developed; each others markets.D.underdeveloped; each others markets.28.Identify the incorrect statement regarding the direction of FDI.A.Historically, most FDI has been directed at the developing nations of the world.B.During the 1980s and 1990s, the United States was often the favorite target for FDI inflows.C.The developed nations of the EU have received significant FDI inflows.D.Recent inflows into developing nations have been targeted at the emerging economies of South, East, and Southeast Asia.29.According to Knickerbocker:A.the firms that pioneer a product in their home markets undertake FDI to produce a product for consumption in a foreign market.B.when a firm that is part of an oligopolistic industry expands into a foreign market, other firms in the industry will be compelled to make similar investments.C.combining location-specific assets or resource endowments and the firms own unique assets often requires FDI.D.impediments to the sale of know-how increase the profitability of FDI relative to licensing.30.When two or more enterprises encounter each other in different regional markets, national markets, or industries, there is:A.vertical integration.B.horizontal integration.C.multipoint competition.D.monopolistic competition.31.The product life cycle suggests that:A.often the same firms that pioneer a product in their home markets undertake FDI to produce a product for consumption in foreign markets.B.when a firm that is part of an oligopolistic industry expands into a foreign market, other firms in the industry will be compelled to make similar investments.C.combining location-specific assets or resource endowments and the firms own unique assets often requires FDI.D.impediments to the sale of know-how increase the profitability of FDI relative to licensing.32.The _ suggests that a firm will establish production facilities where foreign assets or resource endowments that are important to the firm are located.A.product life cycleB.strategic behavior theoryC.multipoint competition theoryD.eclectic paradigm33.Advantages that arise from using resource endowments or assets that are tied to a particular location and that a firm finds valuable to combine with its own unique assets are known as:A.location-specific advantages.B.resource-specific advantages.C.competitive advantages.D.directional advantages.34.John Dunning, a champion of the eclectic paradigm, argues that:A.the firms that pioneer a product in their home markets undertake FDI to produce a product for consumption in a foreign market.B.when a firm that is part of an oligopolistic industry expands into a foreign market, other firms in the industry will be compelled to make similar investments.C.combining location-specific assets or resource endowments and the firms own unique assets often requires FDI.D.impediments to the sale of know-how increase the profitability of FDI relative to licensing.35.According to the _ view of FDI, MNEs extract profits from the host country and take them to their home country, giving nothing of value to the host country in exchange.A.imperialistB.conservativeC.free marketD.radical36.Which of the following is not an impediment that makes it difficult for firms to achieve the optimal dispersion of their productive activities to locations around the globe?A.Reduced transportation costs.B. Government regulations.C.Issues associated with economic and political risk.D.Barriers to foreign direct investment.37.Michael Porter has argued that _ and _ are two basic strategies for creating value and attaining a competitive advantage in an industry.A.differentiation; price competitionB.economies of scale; diversification.C.low cost; differentiationD.efficiency; promotion38. The _ was created in 1944 by 44 nations that met in Breton Woods, New Hampshire to promote economic development.A.World BankB.International Trade CenterC.World Trade OrganizationD.United Nations39. Identify the incorrect statement pertaining to the World Wide Web.A.It makes it much easier for buyers and sellers to find each other.B.Viewed globally, it is emerging as an equalizer.C.It rolls back all of the constraints of location, scale, and time zones.D.It allows businesses to expand their global presence at a lower cost than ever before.40. Technological innovations have facilitated all of the following except:A.globalization of production.B.globalization of markets.C.creation of electronic global marketplaces.D.creation of absolutely homogeneous consumer markets.41. What is the total cumulative value of foreign investments best referred to as?A.Accumulation of foreign sharesB.Portfolio investmentsC.Stock of foreign direct investmentsD.Stock market investments42. Identify the incorrect statement regarding the former Communist nations of Europe and Asia.A.The economies of most of the former Communist states are very strong and developed.B.Many of the former Communist nations of Europe and Asia share a commitment to free market economies.C.As a result of disturbing signs of growing unrest and totalitarian tendencies, the risks involved in doing business in these countries is very high.D.For about half a century these countries were essentially closed to Western international business.43.When a company exports jobs overseas, the company is:A.helping domestic workers by pushing up wage rates.B.increasing the demand of qualified domestic workers.C.taking advantage of lower wages in foreign markets.D.deceiving the supporters of globalization.44. Propagated in the 16th and 17th centuries, _ advocated that countries should simultaneously encourage exports and discourage imports.A.ethnocentrismB.capitalismC.collectivismD.mercantilism45. Identify the incorrect statement pertaining to Raymond Vernons product life-cycle theory.A.Early in their life cycle, most new products are produced in and exported from the country in which they were developed.B.As a new product becomes widely accepted internationally, production starts in other countries.C.A product in the early stage of the product life-cycle is imported by the country where it was innovated.D.A product may ultimately be exported back to the country of its original innovation.46. Identify the theory that can be interpreted as justifying some limited government intervention to support the development of certain export-oriented industries.A.Theory of national competitive advantageB.Heckscher-Ohlin theoryC.Theory of comparative advantageD.Theory of absolute advantage47. China, deliberately keeping its currency value low against the U.S. dollar in order to sell more goods to the United States, and thus amass a trade surplus and foreign exchange reserves, is viewed by critics as following a:A.zero-sum game.B.neo-mercantilist policy.C.positive-sum game.D.free trade policy.48. A basic tenet of Ricardos theory is that:A.consumers in those countries with an absolute advantage in the production of all goods might derive no benefits from international trade.B.consumers in all nations can consume more if there are no restrictions on trade.C.restrictions on trade help consumers in countries that lack an absolute advantage in the production of a particular good.D.trade is a zero-sum game.49. According to the _ model, when a rich country enters into a free trade agreement with a poor country that rapidly experiences dynamic gains, the rich country is likely to not have net gains.A.absolute advantageB.mercantilistC.Heckscher-OhlinD.Samuelson50. According to the new trade theorists, because early entrants are able to gain _, the early entrants into an industry may get a lock on the world market that discourages subsequent entry.A.zero-sum advantagesB.highly skilled employeesC.process expertiseD.economies of scale51. A greenfield investment:A.is a form of FDI that involves the establishment of a new operation in a foreign country.B.involves a 7 percent stock in an acquired foreign business entity.C.involves a merger with a foreign business.D.occurs when a firm acquires another company in a foreign country.52. If General Electric, a U.S. based corporation, purchased a 50 percent interest in a company in Italy, that purchase would be an example of a(n):A.minority acquisition.B.outright stake.C.majority acquisition.D.greenfield investment.53. FDI has been rising for all of the following reasons except:A.the globalization of the world economy.B.the general increase in trade barriers over the past 30 years.C.firms are trying to circumvent trade barriers.D.there is a shift toward democratic political institutions and free market economies.54. Historically, most FDI has been directed at the _ nations of the world as firms based in advanced countries invested in:A.underdeveloped; underdeveloped countries