Quiz 4 Chapter 4 "International Business"

How many times should you decline a gift in China?

3 times

Complete the following sentence. Tariffs, as they relate to global trade, are:

Taxes on imports

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

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

Exporting

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

Integrate the European countries

If a country has a trade deficit, what will occur?

Imports will exceed exports

Which of the following would constitute as a technological barrier to trade?

Product standards

What color is not associated with death in Chinese culture?

Red

All workers benefit from international trade because:

They have more options as consumers

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

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

All of these answers

The World bank incorporates which of these studies in fighting poverty of developing countries?

All of these answers

Bribes are illegal in China

True