International Business

Which term refers to the decision that benefits an individual to a possible detriment to the organization? A. conflict of interest B. confidentiality C. ethical behavior D. breach of privacy

A. Conflict of Interest

_____ is the price of one currency in the terms of another currency A. exchange rate

A. Exchange Rate

What was created by the gold standard? A. Fixed exchange rate system B. Floating exchange rate C. Global accounting standards D. Export and import regulations

A. Fixed Exchange Rate System

The _____ establishes the rule of which countries value and exchange their currencies A. International monetary system B. OECD C. WORLD bank D. Federal reserve

A. International Monetary System

The center of the international commercial flower business A. Netherlands B. U.S C. France D. Germany

A. Netherlands

Why does the international monetary system exist? A. sets the price of a given currency B. most countries have their own currency C. control interest rates D. control monetary crisis from becoming global

A. Sets the price of a given currency

Which country was the first to adopt the gold standard? A. United Kingdom B. Russia C. France D. Germany

A. United Kingdom

Which term refers to an individual's personal beliefs whether or not an action is right or wrong? A. values B. culture C. ethics D. norms

A. Values

Which of the following is a common method for controlling ethical behavior among employees. A. code of ethics B. promoting religion C. public admonishment D. highlighting the failures of competitive companies

A. Code of Ethics

Braxton clothing company most likely prohibits its buyers from accepting gifts from potential buyers because? A. conflict of interest B. strategic breakdown C. breach of contract D. trade violation

A. Conflict of Interest

In 2017 china made up approximately ____ of the worlds exports A. 13.2% B. 25% C. 40% D. 55%

A. 13.2%

During which century were the first theories of international trade developed? A. 16th B. 17th C. 18th D. 19th

A. 16th Century

The rising value of the Canadian dollar relative to the U.S dollar has which of the following effects A. Canadian imports to the U.S are down B. Canadian vacations pay higher costs to travel to the U.S C. Canadians pay higher prices for U.S goods D. Canada loses business at border towns

A. Canadian imports to the U.S are down

The price of foreign exchange is set by A. the gold standard B. demand and supply in the marketplace C. world bank

B. Demand & Supply in the marketplace

_____ is a commodity issued by different currencies other than one's own A. Eurozone B. foreign exchange C. floating exchange D. international monetary fund

B. Foreign Exchange

A call option is A. a privately traded only through stock holders B. grants the right to buy a specific amount of foreign currency at a certain price C. allows the holder to buy foreign exchange at the wholesale rate D. another term for currency future

B. Grants the right to buy a specific amount of foreign currency at a certain price

When firms had faith in a country's pledge to exchange their currency for gold, what did they want? A. gold B. paper currency C. credit D. U.S dollars

B. Paper Currency

Which term refers to linking a currency value to a value of gold? A. exchanging B. pegging C. pledging D. standardizing

B. Pegging

Behavior that fails to conform to generally accepted social norms is considered? A. ethical B. unethical C. illegal D. unregulated

B. Unethical

Which of the following is most susceptible to ethical variations in International Business A. advertising B. working conditions C. insurance benefits D. employee skills

B. Working Conditions

Who is the father of free market economics? A. David Ricardo B. Michael Porter C. Adam Smith D. John Dunning

C. Adam Smith

What type of trade was the early country based theories of international trade most useful in understanding? A. services B. brand name goods C. commodities D. high tech goods

C. Commodities

The international monetary system provides a mechanism for? A. Establishing global accounting standards B. Enforcing the payment of importing tariffs and fees C. Correcting imbalances between the country's international payments and receipts D. Increasing a country's paper currency value in comparison to global gold standard

C. Correcting imbalances between the country's international payments and receipts

According to mercantilism what should a countries primary goals be? A. protecting citizens from unfair B. encourage imports C. promoting exports (discouraging imports) D. ensuring efficient labor for low wage jobs in the industry

C. Promoting Exports

The primary flaw in the theory of absolute advantage is? A. confuses the acquisition of treasure with the acquisition of wealth B. Looks only at relative productivity difference rather than relative differences C. suggests no trade when one country has an absolute advantage in multiple products D. inaugurates the opportunity cost when considered what products a country should produce

C. Suggests no trade when one country has an absolute advantage in multiple products

What will most likely happens when the price of yen falls A. The quantity of demand for Chinese yen will go down. B. The demand curve slopes downward C. The demand curve slopes upward D. The value of yen fluctuates

C. The demand curve slopes upward

The term ____ refers to the voluntary exchange of goods, work, of things of value between two firms A. sales B. transaction C. trade D. strategic management

C. Trade