BUS 100 CH 3-6 QUIZ #3-6

Crisis, both internal and external, do not affect well-managed organizations.

FalseRATIONALE: Cutting edge technology is essential to the success of many businesses.

The _____ is the total amount of money that flows in and out of a country.

balance of payments

As an informational manager, Lia Morris would do all of the following EXCEPT:

direct and counsel subordinates in daily activities

Armenia had a favorable balance of trade in 2018 when it exported $800 million in goods and services and imported $1.5 billion.

false

If Syria gives Lebanon a tariff advantage over other countries, Lebanon has been given a biased tariff.

false

A relatively small group of managers at the head of an organization that establishes overall strategy and long-range goals is called _____ management.

top

Some multinational corporations are so large that they resemble small countries.

true

The exchange rate is the interest rate that foreign banks receive when borrowing money from the United States.

false

In 2018, Country A exported $1.237 billion and imported products valued at $5.552 billion.The difference between the dollar value of its exports and imports represents a:

trade deficit

Which of the following is NOT listed in the text as a reason why more and more companies are doing business in the global marketplace?

Companies enter the global marketplace to acquire the resources they need to operate.

Why do many people fear trade and globalization?

Many fear trade and globalization will lead to massive job losses.

_____ provides the structure of people, positions, departments, and activities within which the company objectives can be accomplished.

Organizing

How has terrorism affected global trade?

Terrorism has curtailed the liberal inflows of skilled and blue-collar workers.

Technical skills are usually utilized at the lower levels of the organization.

True

The _____ is an agreement that dramatically lowered trade barriers worldwide and created the new World Trade Organization (WTO).

Uraguay Round

If a country specializes in goods that it can produce most readily and cheaply and trades those goods for the goods that another country can produce most readily and cheaply, then both countries are exercising the principle of:

comparative advantage

Asan Linhoud has a major decision to make regarding whether to create a new sales territory or simply add customers to existing territories. He asks for suggestions from his sales reps but will make his own decision. This style of leadership is called:

consultative

In a complicated negotiation, Minmetals in China agreed to purchase at least 24,000 tons of copper cathode for $35 million from Pasar in the Philippines. According to the terms of the sale, Pasar will provide at least $12 million worth of coal to a Chinese power company that will provide the electricity needed to operate Minmetals. This is an example of a(n):

countertrade

The Northwest Cherry Growers (headquartered in the state of Washington) sells much of its locally grown produce to Taiwan. _____ was the easiest and least expensive way for the growers' association to sell to global markets.

exporting

The U.S. has one of the very few areas in the world where kaolin can be mined. Kaolin is a necessary ingredient in many products ranging from stomach medication to paper. The U.S.-produced kaolin is sold all over the world. Kaolin is a(n) _____ for the countries that purchase it.

import

_____ are limitations on the quantity of certain types of goods that can be imported over a period of time.

import quotas

The _____ of Algeria includes 3,973 km of railroads, 104,000 km of roads, and 54 paved airports. It also has only five telephones for every 100 citizens and only two Internet service providers.

infrastructure

Which of the following is NOT part of a nation's infrastructure?

it's mountain ranges

The Caucasus Mountains along the northeastern border of Georgia (one of the former Soviet republics) makes it difficult for the nation to trade with other former Soviet republics that are to its north and east. The mountain range acts as a(n):

natural trade barrier

New Bedford College keeps all of its records on computers. When a student registers for a class, the computer is checked to make sure that the student has all of the prerequisites for the class. Last fall, the computer went down during the first day of registration. The registrar's office had to make a _____ decision in which it was decided that the registration period would be extended to an unprecedented five days even though this would mean that classes would have to start later, and there would be fewer class meetings.

nonprogrammed

According to the Sports Business Journal, Levy Restaurants is the leading purveyor of premium food at major sports venues. Levy has fed the masses at the Super Bowl, the Grammys, the Kentucky Derby, and the NBA All-Star Game. It catered last year's World Series and the MTV Video Music Awards, plus hundreds of regular-season games of football, baseball, basketball, hockey, and NASCAR races. So when the company purchased 150 pounds of steak and chicken, eighty pounds of noodles, ingredients for 48 gallons of shrimp bisque, 400 sushi rolls, and 25 pounds of jambalaya and succotash, it was more than likely a _____ decision.

programmed

Japan bans importation of rice to protect its domestic rice industry. This ban is an example of:

protectionism

When your boss gives you a raise, he or she is using _____ power.

reward

The CEO of Whole Foods Markets is John Mackey. It has a set of quirky management rules that makes Whole Foods an odd but effective workplace. Every store is divided into about eight functional teams: An employee is hired provisionally to a store team. After four weeks of work, the team votes whether to hire him or her; a two-thirds yes vote is necessary to join the staff permanently. Which leadership style appears to be used by Whole Foods?

Democratic (participative)