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第1题Internationalbusinessconsistsoftransactionsthataredevisedandcarriedoutacross____tosatisfytheobjectivesofindividuals,companies,andorganizations.AindustriesBcompaniesCnationalbordersDprovinceborders第2题Asinternationalbusinesscontinuestogrow,consumersbenefitfromgreaterchoices,higherquality,andlower____.AqualityBdemandCsupplyDcosts第3题Internationalbusinesscreatesanetworkof____linksthatbindsallcountries,institutions,andindividualstogether.AglobalBlocalCdifficultDtight第4题Shiftsinfinancialflowshaveamajoreffecton____,whichistheestablishmentorexpansionofoperationsofafirminaforeigncountry.AexportBforeigndirectinvestmentCimportDservicetrade第1题Whichtradetreatywassignedby23nationsin1947andisheadquarteredinGeneva,Switzerland?____AWorldBankBInternationalMonetaryFund(IMF)CInternationalTradeOrganization(ITO)DGeneralAgreementonTariffsandTrade(GATT)第2题WhichroundofWTOnegotiationsbeganin2001?____AGenevaRoundBUruguayRoundCDohaRoundDTokyoRound第3题____aretaxesonimportedgoodsandservices,institutedbygovernmentsasameanstoraiserevenueandasbarrierstotrade.ATrademarksBQuotasCTariffsDVoluntaryrestraintagreements第4题WhichofthefollowingISNOTareasonforimposingrestrictionsonexports?____ASupplysurplusBTheinterestofnationalsecurityCForeignpolicypurposesDProvidelocalconsumerswithgreateraccess第5题Allnationshaveinternationaltradeandinvestmentpolicies.()第6题Tradepolicyactionsbecomeevidentwhenmeasurestakenbygovernmentsaffecttheflowoftradeandinvestmentacrossnationalborders.()第7题TheWTOprovidesaforumfornegotiatingagreementsaimedatreducingobstaclestointernationaltradeandensuringalevelplayingfieldforall,thuscontributingtoeconomicgrowthanddevelopment.()LectureThreeHomework第1题ThetradingprincipleformulatedbyAdamSmithmaintainedthat:____AInternationalpricesaredeterminedfromthedemandsideofthemarketBDifferencesinresourceendowmentsdeterminecomparativeadvantageCDifferencesinincomelevelsgovernworldtradepatternsDAbsolutecostdifferencesdeterminetheimmediatebasisfortrade第2题UnlikeAdamSmith,DavidRicardo’stradingprincipleemphasizesthe:____ADemandsideofthemarketBSupplysideofthemarketCRoleofcomparativecostsDRoleofabsolutecosts第3题Whenanationrequiresfewerresourcesthananothernationtoproduceaproduct,thenationissaidtohavea():____AAbsoluteadvantageintheproductionoftheproductBComparativeadvantageintheproductionoftheproductCLowermarginalrateoftransformationfortheproductDLoweropportunitycostofproducingtheproduct第4题Accordingtotheprincipleofcomparativeadvantage,specializationandtradeincreaseanation’stotaloutputsince:____AResourcesaredirectedtotheirhighestproductivityBTheoutputofthenation’stradingpartnerdeclinesCThenationcanproduceoutsideofitsproductionpossibilitiescurveDTheproblemofunemploymentiseliminated第5题Inatwo-product,two-countryworld,internationaltradecanleadtoincreasesin:____AConsumerwelfareonlyifoutputofbothproductsisincreasedBOutputofbothproductsandconsumerwelfareinbothcountriesCTotalproductionofbothproducts,butnotconsumerwelfareinbothcountriesDConsumerwelfareinbothcountries,butnottotalproductionofbothproducts第6题Iftheinternationaltermsoftradesettleatalevelthatisbetweeneachcountry’sopportunitycost:____AThereisnobasisforgainfultradeforeithercountryBBothcountriesgainfromtradeCOnlyonecountrygainsfromtradeDOnecountrygainsandtheothercountrylosesfromtrade第7题RefertoTable3.1.TheopportunitycostofoneVCRinBis:____ABCD第8题RefertoTable3.1.TheopportunitycostofoneVCRinAis:____A½tonofsteelB1tonofsteelC1½tonsofsteelD2tonsofsteel第9题RefertoTable3.1.Accordingtotheprincipleofcomparativeadvantage:____AAshouldexportsteelBAshouldexportsteelandVCRsCBshouldexportsteelDBshouldexportsteelandVCRs第10题RefertoTable3.1.Withinternationaltrade,whatwouldbethemaximumnumberofVCRsthatBwouldbewillingtoexporttoAinexchangeforeachtonofsteel?____A1VCRB2VCRsC3VCRsD4VCRs第11题ThesimultaneousimportandexportofcomputersbyGermanyisanexampleof:____AIntraindustrytradeBInterindustrytradeCPerfectcompetitionDImperfectcompetition第12题TheLeontiefparadoxprovided:____ASupportfortheprincipleofabsoluteadvantageBSupportforthefactorendowmentmodelCEvidenceagainstthefactorendowmentmodelDEvidenceagainsttheprincipleofabsoluteadvantage第13题Whichtradetheorysuggeststhatcomparativeadvantagetendstoshiftfromonenationtoanotherasaproductmatures?____AInterindustrytradetheoryBIntraindustrytradetheoryCProductlifecycletheoryDOverlappingdemandtheory第14题Accordingtothespecificfactorstradetheory:____AOwnersoffactorsspecifictoexportindustriessufferfromtrade,whileownersoffactorsspecifictoimport-competingindustriesgainBOwnersoffactorsspecifictoexportindustriesgainfromtrade,whileownersoffactorsspecifictoimport-competingindustriessufferCBothownersoffactorsspecifictoexportindustriesandownersoffactorsspecifictoimport-competingindustriesgainfromtradeDBothownersoffactorsspecifictoexportindustriesandownersoffactorsspecifictoimport-competingindustriessufferfromtradeLectureFourHomework第1题____isanintegratedsystemoflearnedbehaviorpatternsthatarecharacteristicofthemembersofanygivensociety.ALawBCultureCPolicyDEducation第2题Whichofthefollowingis/aretheelement()ofculture:____AlanguageBvaluesandattitudesCmannersandcustomsDalloftheaboveLectureFiveHomework第1题A(
)____isagovernmentaction,usuallyconsistingofaspecificmeasurethatdistortsthefreeflowoftradeforanadversarialorpoliticalpurposeratherthananeconomicone.AsanctionBembargoCtariffDexportlicense第2题Managerscantakeactionstoreducetheriskofconfiscation,expropriation,domestication,andothergovernmentinterferencesuchas:____Ademonstrateconcernwithhostcountry’ssocietyandbecomeapartofthecountry,notanexploiterofitBcloselymonitorpoliticaldevelopmentsCpurchaseinsurancetocoverlossesDalloftheabove第3题Anembargoconsistsofaspecificcoercivetrademeasurethatdistortsthefreeflowoftradeforanadversarialorpoliticalpurpose.()第4题Confiscationisthegovernmenttakeoverofacompanywithcompensationfrequentlyatalevellowerthantheinvestmentvalueofthecompany’sassets.()第5题Domesticationisthegovernmentdemandforpartialtransferofownershipandmanagementresponsibilityfromaforeigncompanytolocalentities,withorwithoutcompensation.()第6题Arbitrationistheprocedureforsettlingadisputeinwhichanobjectivethirdpartyhearsbothsidesandmakesadecision.()
LectureSixHomework第1题____referstotheeffectthatimportsfromothermemberstateswithlowercostswilldisplacedomesticproductionastariffsareremoved.ATradecreationBTradediversionCWelfaregainDWelfareloss第2题WhichofthefollowingisNOTatypeofRegionalTradingAgreements:____AafreetradeagreementBapreferentialtradingagreementCacustomsunionDnoneoftheabove第3题ThereisadangerthattheproliferationofalargenumberofRegionalTradingAgreementsmayincreasetradingtensionsbetweencountries.()第4题Thereisno"freerider"problemwithRegionalTradingAgreementsandmultilateraltradeliberalization.()第5题Tradecreationiseconomicwelfarereducing.()第6题Tradediversioniseconomicwelfareenhancing.()第7题Tradediversionreferstothatimportsfromnon-memberstateswithlowcostswillbedisplacedbyhigher-costimportsfrommemberstates.()第8题ForagivenRegionalTradingAgreement,ifTradeCreationislargerthanTradeDiversion,thenglobaleconomicefficiencymightbeincreased.()第9题ForagivenRegionalTradingAgreement,ifTradeCreationissmallerthanTradeDiversion,thenglobaleconomicefficiencymightbereduced.()第10题Foracustomsunion(CU),inadditiontotheeliminationoftariffsonalltradebetweenthememberstates,acommonexternaltariff(CET)isalsoadopted.(
)LectureSevenHomework第1题The____isthemostcommonformofbusinessorganizationwhichhasalloftherightsandresponsibilitiesasthatofanindividual,whilepossessinglimitedliabilitytoitsowners.AcorporationBfirmCbusinessDconglomerate第2题Acorporationisalegalcreationdeemedtohaverightsandresponsibilitieslikeaperson.Unlikehumanbeings,however,acorporation____.AcannotborrowBcannotbuyCcannotsellDcannotpossesamoralconscience第3题Thetwoprimaryfinancialstakeholdersofafirm,theprovidersofcapitalforbothinvestmentandoperation,are____.AcustomersandmanufacturersBemployeesandcreditorsCshareholdersandcreditorsDemployeesandshareholders第4题The____stakeholdersofafirmareallthoseemployedbythefirm,includingmanagementandleadership.AfinancialBbusinessCinternalDexternal第5题____istheoperationofafirmororganizationinamannerwhichattemptstobalancetheinterestsofallstakeholdersoftheorganization.AMaximizationofshareholdervalueBDividendyieldCStakeholdercapitalismDCorporategovernance第6题Allpersonsorgroupswhichmayaffectorbeaffectedbytheactivitiesofanorganizationlikeacorporationarecalledstakeholders.()第7题Ifacorporationlosesmoney,acquiresdebt,orincurslegalliabilities,theindividualownersareatriskoflosingmorethanwhattheyhaveinvestedinthecompany.()第8题Arightiswhenapersonorgroupispotentiallyaffectedbytheactionsofanorganizationorfirm.()第9题Intermsofglobalbusiness,mostcompaniesarepubliclytraded.(
)第10题Theprivatelyheldfirmdoesnothaveashareprice.It,therefore,simplyfocusesongeneratingcurrent
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