MAN 3600 Exam 1 Mini Quiz Questions

Which of the following countries hosts the greatest number of MNEs?

United States

According to Michael Porter, a nation's factor endowments help determine its ________.

national competitive advantage

In the ________ phase of international product life cycle theory, knowledge about how to produce the product is widespread and manufacturing becomes straightforward

standardization

Which of the following was the analysis revealed by the "Leontief paradox"?

that the U.S. often exported labor-intensive goods and imported more capital-intensive goods

Refers to the transfer of assets to another country or the acquisition of assets in that country

International Investment

Which of the following countries is the leading nation in the international services trade as % of GDP?

Ireland

Which of the following is true with regard to culture?

It captures how the members of the society live

MNEs are also known as which of the following:

MNCs

the belief that national prosperity is the result of a positive balance of trade, achieved by maximizing exports and minimizing imports

Mercantilism

Which of the following countries has the most foreign reserves per capita?

Singapore

Which of the following types of risk is not presented in the course as a risk associated with international business?

Technological risk

Since 1998, the US economy visibly improved its trade deficit only when the economy was in ____ according to the class materials

a recession

Acculturation is defined as the process of:

adjusting and adapting to a culture other than one's own

The New Trade Theory by Paul Krugman emphasizes the concept of ____________________ in increasing international trade.

both internal and external economies of scale

refers to the superior features of a country that provide unique benefits in global competition, typically derived from either natural endowments or deliberate national policies

comparative advantage

Low-context cultures tend to:

conduct negotiations as efficiently as possible

The Spanish bullfight is given in the class materials as an example of:

cultural metaphors

Which of the following is true about language?

has both verbal and nonverbal characteristics

Managers can achieve effective cross-cultural interaction by:

keeping an open mind and being inquisitive

A ________ is one or more resources or capabilities a company possesses that few other firms have

monopolistic advantage

Which of the following is an element of the comparative advantage principle?

relative efficiency of production

Values in a culture:

represent a person's judgements about what is good or bad, acceptable or unacceptable, important or unimportant, and normal or abnormal

Which of the following refers to the extent to which people can tolerate risk in their lives?

uncertainty avoidance