Chapter 4 International business

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According to Adam Smith, the party which can produce more of a good or service than competitors while using the same amount of resources, is said to have:

Absolute advantage

Suppose you, as an American company, started a phone business in India. Which of the following cultural barriers might you face?

All of these answers ( Ignorance of emerging markets, Transaction complexity, Market entry)

Tariffs are often viewed by economists to be bad for overall welfare because:

All of these answers ( Tariffs hurt the developing world, Tariffs limit choices for products, Tariffs are anti-poor)

Which of the following is NOT a benefit of contract manufacturing?

Complete control of production

Assuming the US is efficient in growing corn and therefore sells is to other countries. We call this:

Exporting

The term balance of trade incorporates the measure of which of the following?

Imports and Exports

The reasoning behind the creation of the Euro can best be explains as a means to:

Integrate the European countries

Which of the following is NOT true about NAFTA?

NAFTA helps the US, but harms Mexico

One of the downsides of outsourcing for a company is that it:

Reduces confidentiality

The most significant update to the GATT in 1993 was:

The establishment of the WTO

The one reason MNC can be harmful for the host country is:

They obtain strong negotiating power with local government

The ethical argument against international trade can best be explained as an increase in international trade leading to:

A disproportionate advantage to capital owners

The Bogor Goals adopted in 1994 called for:

All of these answers (Open investment in Asia-Pacific, Free and open trade in Asia-Pacific for developing economies, Free and open trade in Asia-Pacific for industrialized economies)

In order to be a successful joint venture, both parties must be equally invested in a project in terms of:

All of these answers(Money, Time, Effort)

The theory of competitive advantage can best be explained as suggesting that:

Businesses create high-quality goods to sell at high prices in the market


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