国际商务期末试题及答案

PAGEPAGE11IBMidtermExaminationAnsweringcard(A)CLASS:1001NAME:NUMBER:(1-10，1scoreperquestion;11-50,2scoreperquestion;50-60,1scoreperquestion)..0.True/FalseQuestionsscoreperquestion)Thenotionthatnationaleconomiesarerelativelyself-containedentitiesisontherise.Mercantilismadvocatedthatcountriesshouldencourageexportsandimports.Afirmbecomesamultinationalenterprisewhenitundertakesforeigndirectinvestment.ThetwomostcommonmethodsofrestrictinginwardFDIareownershiprestraintsandperformancerequirements.Themostglobalmarketscurrentlyaremarketsforindustrialgoodsandmaterialsthatserveauniversalneedtheworldover.Outsourcingisaprocessthatislimitedtomanufacturingenterprises.AccordingtoPorter,fourbroadattributesofanationshapetheenvironmentinwhichlocalfirmscompeteincludingsupplyconditions,factorendowments,regulation,andadvancedfactors.OneoftheUNcentralmandatesisthepromotionofhigherstandardsofliving,fullemployment,andconditionsofeconomicandsocialprogressanddevelopmentThetotalamountofcapitalinvestedinfactories,stores,officebuildingsandthelikeisreferredtoasthestockofFDI.Licensinginvolvestheestablishmentofanewoperationinaforeigncountry.MultipleChoiceQuestions(11-50,2scoreperquestion;51-60,1scoreperWhichofthefollowingisnotcharacteristicofglobalization?Nationaleconomiesareturningintoindependenteconomicsystems.Materialcultureisstartingtolooksimilartheworldover.Perceiveddistanceisshrinkingduetoadvancesintransportationandtelecommunications.Barrierstocross-bordertradeandinvestmentaredeclining.Whichofthefollowingisnotanimpediment(限制)thatmakesitdifficultforfirmstoachievetheoptimaldispersion（最优分散）oftheirproductiveactivitiestolocationsaroundtheglobe?Reducedtransportationcosts.Governmentregulations.Issuesassociatedwitheconomicandpoliticalrisk.Barrierstoforeigndirectinvestment.Technologicalinnovationshavefacilitatedallofthefollowingexcept:globalizationofproduction.globalizationofmarkets.creationofelectronicglobalmarketplaces.creationofabsolutely均匀的）consumermarkets.Whatisthetotalcumulativevalueofforeigninvestmentsbestreferredtoas?AccumulationofforeignsharesPortfolioinvestmentsStockofforeigndirectinvestmentsStockmarketinvestmentsIfthecriticsofglobalizationarecorrect,allofthefollowingthingsmustbeshownexcept:theshareofnationalincomereceivedbylabor,asopposedtothesharereceivedbytheownersofcapitalshouldhavedeclinedinadvancednations.eventhoughlabor'sshareoftheeconomicpiemayhavedeclined,livingstandardsneednotdeteriorateifthesizeofthetotalpiehasincreasedsufficientlytooffset（抵消）thedeclineinlabor'sshare.thedeclineinlabor'sshareofnationalincomemustbeduetomovingproductiontolow-wagecountries,asopposedtoimprovingproductiontechnologyandproductivity.economicgrowthindevelopednationshasoffsetthefallinunskilledworkers'sharenationalincome,raisingtheirlivingstandards.Thistheory,advancedbytheEnglisheconomistDavidRicardo,formstheintellectualbasisofthemodernargumentforunrestrictedfreetrade.Heckscher-OhlinMercantilismComparativeadvantageAbsoluteadvantageThistheoryexplainstheobservedpatternsofinternationaltradebyemphasizingtheinterplaybetweentheproportionsinwhichthefactorsofproductionareavailableindifferentcountriesandtheproportionsinwhichtheyareneededforproducingparticulargoods.MercantilismHeckscher-OhlinAbsoluteadvantageComparativeadvantageIdentifytheincorrectstatementpertainingtoRaymondVernon'sproductlife-cycletheory.Earlyintheirlifecycle,mostnewproductsareproducedinandexportedfromthecountryinwhichtheyweredeveloped.Asanewproductbecomeswidelyacceptedinternationally,productionstartsinothercountries.Aproductintheearlystageoftheproductlife-cycleisimportedbythecountrywhereitwasinnovated.Aproductmayultimatelybeexportedbacktothecountryofitsoriginalinnovation.Thetheoryof,developedbyMichaelPorter,focusesontheimportanceofcountryfactors,inadditiontofactorendowments,suchasdomesticdemandanddomesticrivalryinexplaininganation'sdominanceintheproductionandexportofparticularproducts.newtradeabsoluteadvantagecomparativeadvantagenationalcompetitiveadvantageIdentifythetheorythatcanbeinterpretedasjustifyingsomelimitedgovernmentinterventiontosupportthedevelopmentofcertainexport-orientedindustries.TheoryofnationalcompetitiveadvantageHeckscher-OhlintheoryTheoryofcomparativeadvantageTheoryofabsoluteadvantageMercantilismviewedtradeasa(n):economicevil.zero-sumgame.nonessentialeconomicactivity.threattoagovernment'sindependence.Whatisthebasicmessageofthetheoryofcomparativeadvantage?CountriesaresimilarintheirabilitytoproducegoodsefficientlyInternationaltradeisrarelybeneficialtoacountryPotentialworldproductionisgreaterwithunrestrictedfreetradethanitiswithrestrictedtradeTradeisazero-sumgameAccordingtotheproductlife-cycletheory,thelocusofglobalproductioninitiallyswitchesfromtheU.S.tootheradvancednationsandthenfromthosenationstodevelopingcountries.TheconsequenceofthistrendforthepatternofworldtradeisthatovertimetheU.S.:becomesthesoleproduceroftheproduct.switchesfrombeinganexporteroftheproducttobeinganimporteroftheproduct.switchesfrombeinganimporteroftheproducttobeinganexporteroftheproduct.becomesthesoleconsumeroftheproduct. suggeststhatwhennationstrade,eachnationmaybeabletospecializeinproducinganarrowerrangeofproductsthanitwouldintheabsenceoftrade,andthroughtrade,eachnationcansimultaneouslyincreasethevarietyofgoodsavailabletoitsconsumersandlowerthecostsofthosegoods.Theproductlife-cycletheoryPorter'sdiamondofcompetitiveadvantageNewtradetheoryThetheoryofcomparativeadvantageAccordingtothenewtradetheorists,becauseearlyentrantsareabletogain ,theentrantsintoanindustrymaygetalockontheworldmarketthatdiscouragessubsequententry.zero-sumadvantageshighlyskilledemployeesprocessexpertiseeconomiesofscaleAgreenfieldinvestment:isaformofFDIthatinvolvestheestablishmentofanewoperationinaforeigncountry.involvesa7percentstockinanacquiredforeignbusinessentity.involvesamergerwithaforeignbusiness.occurswhenafirmacquiresanothercompanyinaforeigncountry.Historically,mostFDIhasbeendirectedatthe nationsoftheworldasfirmsbasedinadvancedcountriesinvestedin:underdeveloped;underdevelopedcountries.developed;underdevelopedcountries.developed;eachother'smarkets.underdeveloped;eachother'smarkets.IdentifytheincorrectstatementregardingthedirectionofFDI.Historically,mostFDIhasbeendirectedatthedevelopingnationsoftheworld.Duringthe1980sand1990s,theUnitedStateswasoftenthefavoritetargetforFDIinflows.ThedevelopednationsoftheEUhavereceivedsignificantFDIinflows.RecentinflowsintodevelopingnationshavebeentargetedattheemergingeconomiesofSouth,East,andSoutheastAsia.AccordingtoKnickerbocker:thefirmsthatpioneeraproductintheirhomemarketsundertakeFDItoproduceaproductforconsumptioninaforeignmarket.whenafirmthatispartofanoligopolisticindustryexpandsintoaforeignmarket,otherfirmsintheindustrywillbecompelledtomakesimilarbininglocation-specificassetsorresourceendowmentsandthefirm'sownuniqueassetsoftenrequiresFDI.impedimentstothesaleofknow-howincreasetheprofitabilityofFDIrelativetolicensing.Whentwoormoreenterprisesencountereachotherindifferentregionalmarkets,nationalmarkets,orindustries,thereis:verticalintegration.horizontalintegration.multipointcompetition.monopolisticcompetition.Theproductlifecyclesuggeststhat:oftenthesamefirmsthatpioneeraproductintheirhomemarketsundertakeFDItoproduceaproductforconsumptioninforeignmarkets.whenafirmthatispartofanoligopolisticindustryexpandsintoaforeignmarket,otherfirmsintheindustrywillbecompelledtomakesimilarbininglocation-specificassetsorresourceendowmentsandthefirm'sownuniqueassetsoftenrequiresFDI.impedimentstothesaleofknow-howincreasetheprofitabilityofFDIrelativetolicensing.The suggeststhatafirmwillestablishproductionfacilitieswhereforeignassetsresourceendowmentsthatareimportanttothefirmareductlifecyclestrategicbehaviortheorymultipointcompetitiontheoryeclecticparadigmAdvantagesthatarisefromusingresourceendowmentsorassetsthataretiedtoaparticularlocationandthatafirmfindsvaluabletocombinewithitsownuniqueassetsareknownas:location-specificadvantages.resource-specificpetitiveadvantages.directionaladvantages.JohnDunning,achampionoftheeclecticparadigm,arguesthat:thefirmsthatpioneeraproductintheirhomemarketsundertakeFDItoproduceaproductforconsumptioninaforeignmarket.whenafirmthatispartofanoligopolisticindustryexpandsintoaforeignmarket,otherfirmsintheindustrywillbecompelledtomakesimilarbininglocation-specificassetsorresourceendowmentsandthefirm'sownuniqueassetsoftenrequiresFDI.impedimentstothesaleofknow-howincreasetheprofitabilityofFDIrelativetolicensing.Accordingtothe viewofFDI,MNEsextractprofitsfromthehostcountryandthemtotheirhomecountry,givingnothingofvaluetothehostcountryinexchange.imperialistconservativefreemarketradicalWhichofthefollowingisnotanimpedimentthatmakesitdifficultforfirmstoachievetheoptimaldispersionoftheirproductiveactivitiestolocationsaroundtheglobe?Reducedtransportationcosts.Governmentregulations.Issuesassociatedwitheconomicandpoliticalrisk.Barrierstoforeigndirectinvestment.MichaelPorterhasarguedthat and aretwobasicstrategiesforcreatingvalueandattainingacompetitiveadvantageinanindustry.differentiation;pricecompetitioneconomiesofscale;diversification.lowcost;differentiationefficiency;promotionThe wascreatedin1944by44nationsthatmetinBretonWoods,NewHampshiretopromoteeconomicdevelopment.WorldBankInternationalTradeCenterWorldTradeOrganizationUnitedNationsIdentifytheincorrectstatementpertainingtotheWorldWideWeb.Itmakesitmucheasierforbuyersandsellerstofindeachother.Viewedglobally,itisemergingasanequalizer.Itrollsbackalloftheconstraintsoflocation,scale,andtimezones.Itallowsbusinessestoexpandtheirglobalpresenceatalowercostthaneverbefore.Technologicalinnovationshavefacilitatedallofthefollowingexcept:globalizationofproduction.globalizationofmarkets.creationofelectronicglobalmarketplaces.creationofabsolutelyhomogeneousconsumermarkets.Whatisthetotalcumulativevalueofforeigninvestmentsbestreferredtoas?AccumulationofforeignsharesPortfolioinvestmentsStockofforeigndirectinvestmentsStockmarketinvestmentsIdentifytheincorrectstatementregardingtheformerCommunistnationsofEuropeandAsia.TheeconomiesofmostoftheformerCommuniststatesareverystronganddeveloped.ManyoftheformerCommunistnationsofEuropeandAsiashareacommitmenttofreemarketeconomies.Asaresultofdisturbingsignsofgrowingunrestandtotalitariantendencies,therisksinvolvedindoingbusinessinthesecountriesisveryhigh.ForabouthalfacenturythesecountrieswereessentiallyclosedtoWesterninternationalbusiness.Whenacompany"exportsjobs"overseas,thecompanyis:helpingdomesticworkersbypushingupwagerates.increasingthedemandofqualifieddomesticworkers.takingadvantageoflowerwagesinforeignmarkets.deceivingthesupportersofglobalization.Propagatedinthe16thand17thcenturies, advocatedthatsimultaneouslyencourageexportsanddiscourageimports.ethnocentrismcapitalismcollectivismmercantilismIdentifytheincorrectstatementpertainingtoRaymondVernon'sproductlife-cycletheory.Earlyintheirlifecycle,mostnewproductsareproducedinandexportedfromthecountryinwhichtheyweredeveloped.Asanewproductbecomeswidelyacceptedinternationally,productionstartsinothercountrieAproductintheearlystageoftheproductlife-cycleisimportedbythecountrywherewasinnovated.D.Aproductmayultimatelybeexportedbacktothecountryofitsoriginalinnovation.Identifythetheorythatcanbeinterpretedasjustifyingsomelimitedgovernmentinterventitosupportthedevelopmentofcertainexport-orientedindustries.TheoryofnationalcompetitiveadvantageHeckscher-OhlintheoryTheoryofcomparativeadvantageTheoryofabsoluteadvantageChina,deliberatelykeepingitscurrencyvaluelowagainsttheU.S.dollarinordertogoodstotheUnitedStatesandthusamassatradsurpluandforeigexchangereservesviewedbycriticsasfollowinga:zero-sumgame.neo-mercantilistpolicy.positive-sumgame.freetradepolicy.AbasictenetofRicardo'stheoryisthat:consumersinthosecountrieswithanabsoluteadvantageintheproductionofallgoodsderivenobenefitsfrominternationaltrade.consumersinallnationscanconsumemoreiftherearenorestrictionsontrade.tradehelpconsumersinanabsoluteadvantageinproductionofaparticulargood.tradeisazero-sumgame.Accordingtothe model,whenarichcountryentersintoafreetradeagreementwithapoorcountrythatrapidlyexperiencesdynamicgains,therichcountryislikelytonothavegains.absoluteadvantagemercantilistHeckscher-OhlinSamuelsonAccordingtothenewtradetheorists,becauseearlyentrantsareabletogain ,theentrantsintoanindustrymaygetalockontheworldmarketthatdiscouragessubsequententry.zero-sumadvantageshighlyskilledemployeesprocessexpertiseeconomiesofscaleAgreenfieldinvestment:isaformofFDIthatinvolvestheestablishmentofanewoperationinaforeigncountry.involvesa7percentstockinanacquiredforeignbusinessentity.involvesamergerwithaforeignbusiness.occurswhenafirmacquiresanothercompanyinaforeigncountry.IfGeneralElectric,aU.S.basedcorporation,purchaseda50percentinterestinacompanyinItaly,thatpurchasewouldbeanexampleofa(n):minorityacquisition.outrightstake.majorityacquisition.greenfieldinvestment.FDIhasbeenrisingforallofthefollowingreasonsexcept:theglobalizationoftheworldeconomy.thegeneralincreaseintradebarriersoverthepast30years.firmsaretryingtocircumventtradebarriers.thereisashifttowarddemocraticpoliticalinstitutionsandfreemarketeconomies.Historically,mostFDIhasbeendirectedatthe nationsoftheworldasfirmsbasedinadvancedcountriesinvestedin:underdeveloped;underdevelopedcountries.developed;un