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    71) The Nike "Swoosh" is an example of a ________. A) patent B) fad C) copyright D) trademark   72) A bootleg Prada backpack that costs $500 in New York but sells for $100 in Rome is an example of which of the following? A) Patent infringement B) Pirated product C) Copyright violation D) Standardized product 73) Governments impose which of.
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    61) ________ is the forced transfer of assets from a company to the government with compensation. A) Expropriation B) Nationalization C) Confiscation D) Localization   62) All of the following are methods used by companies to manage political risk EXCEPT ________. A) political influence B) information gathering C) adaptation D) expropriation   63) Which of the following is NOT a method of.
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    31) Businesspeople who accept the risks and opportunities involved in creating and operating new business ventures are called ________. A) managers B) supervisors C) entrepreneurs D) central planners   32) A country's ________ system consists of the structure and processes it uses to allocate its resources and conduct its commercial activities. A) political B) economic C) social D) cultural 33) A.
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    31) Pure Internet companies ________. A) can avoid local laws and politics since they do not have a physical presence in other countries B) must adapt to local politics and law, just like brick-and-mortar companies must do C) are exempt from most local regulations because of their unique intangible nature D) should act according.
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  131) What is economic transition? Describe the remaining obstacles that countries face in their economic transition.     132) Explain how a lack of managerial expertise has affected former centrally planned countries as they transition to market economies.   133) What is privatization, and what role does it play in economic transition?       .
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1) Anarchism is the belief that every aspect of people's lives must be controlled in order for a nation's political system to be effective.   2) Pluralism is the belief that only individuals and private groups should control a nation's political activities.   3) Totalitarian political systems include authoritarian regimes such as communism and.
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    111) ________ risk threatens companies within a particular industry or even smaller groups. 112) The forced transfer of assets from a company to the government without compensation is called ________.   113) ________ of an industry means government takeover of the entire industry.   114) The ________ insures U.S. companies that invest abroad against loss.
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    71) A philanthropical organization wishes to bring an assistance initiative to a country with a low GNI. Which of the following would the organization most likely choose? A) Angola B) Syria C) Eygpt D) Madagascar   72) After a natural disaster, an organization ranks the affected countries in terms of their gross national income and.
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    91) The first question that Stephanie addresses concerns the relative importance of contacts versus contracts in China. She expects participants to ask: "Which is more important, contacts or contracts?" Which of the following is the most effective response Stephanie could give to this question? A) Contracts are critical because of their.
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    31) Which of the following refers to the purchase, sale, or exchange of goods and services across national borders? A) Domestic trade B) Foreign direct investment C) International trade D) Mercantilism 32) ________ occurs between different states, regions, or cities within a country. A) Domestic trade B) Foreign direct investment C) International trade D) Mercantilism   33) One way to measure.
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    61) In a market economy, ________ allows most prices to rise and fall to reflect the forces of supply and demand. A) free choice B) free enterprise C) price flexibility D) laissez-faire   62) When one company is able to control a product's supply—and therefore its price—it is considered a(n) ________. A) state-owned company B) monopoly C) underground company D).
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    51) According to mercantilism, accumulation of national wealth depended on ________. A) increasing a nation's trade surplus B) expanding a nation's total value of trade C) expanding a nation's total volume of trade D) increasing a nation's trade deficit 52) Colonies were important to mercantilist nations for all the following reasons EXCEPT ________. A) to serve.
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  135) Explain the purpose of antitrust laws. How would the Friedman philosophy of corporate social responsibility most likely support a decision by a company to expand internationally into a country with weak antitrust laws? Include a description of the Friedman philosophy in your answer. 136) Describe the Foreign Corrupt Practices Act,.
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1) China is developing its economy based on natural resources and cheap labor while India is relying on the brainpower of its people.   2) Incentives and rewards for individual business initiatives are an important component of collectivist cultures.   3) Collectivist cultures tend to offer fewer incentives and rewards than individualist cultures.   4) Entrepreneurs.
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    41) In China, businesspeople do which of the following? A) Follow a strategy for forming business relationships that is similar to their American counterparts B) Focus on establishing tight formal contracts C) Place greater importance on written contracts than on personal relationships D) Establish a trusting relationship before proceeding with business   42) One of the.
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    71) Factor proportions theory was developed by ________. A) Smith and Ricardo B) Ricardo and Ohlin C) Hecksher and Ohlin D) Hecksher and Smith 72) Under factor proportions theory, a nation's resources include all of the following EXCEPT ________. A) labor B) land C) information D) capital equipment   73) Factor proportions theory argues that a country should produce and export.
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    21) The ability of a nation to produce a good more efficiently than any other nation is called a comparative advantage.   22) The theories of comparative and absolute advantage assume that countries are driven only by the maximization of production and consumption.   23) The theories of comparative and absolute advantage assume that.
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    11) In politicized bureaucracies, bureaucrats tend to implement decisions according to their own political views rather than those of the people's representatives. 12) A participative democracy combined with free markets and property rights guarantees strong economic growth. 13) In every country, the rate of economic growth is primarily determined by its degree.
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    41) The smallest portion of total world trade takes place between ________. A) high-income countries and low- and middle-income nations B) high-income economies C) low- and middle-income nations D) emerging markets   42) Which of the following countries is the most important trading partner of the Central and Eastern European nations that recently joined the European.
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    11) In the context of international trade, isolationism is generally considered undesirable.   12) Today, trade between most nations is characterized by a certain degree of interdependency.   13) It is not necessary to have bilingual business cards when doing business in the Pacific Rim because most Asians speak English. 14) The highly competitive nature.
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    41) A totalitarian political system is marked by which of the following? A) Narrow participation B) Total participation C) Wide participation D) Public referendums   42) North Korea is an example of which of the following types of government? A) Totalitarian B) Democratic C) Theocratic D) Anarchistic   43) When a country's religious leaders are also its political leaders, its political system.
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    111) A company that is able to control a product's supply and, therefore, its price is considered a(n) ________.   112) Policies that control the money supply and interest rates are known as ________ policies.   113) The broadest measure of economic development is ________.   114) ________ is the value of all goods and services.
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    81) An oil company is considering establishing operations in a foreign country that represses human rights. Which of the following would best support the position a human rights activist would take regarding the company's entry into that market? A) The firm should establish operations in the country because it would help.
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  127) Explain each of the four means of incorporating risk into business strategies when companies employ an adaptation strategy. 128) Compare and contrast two prevalent political systems, totalitarianism and democracy, and explain how a country's political system influences its legal system.       .
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  129) Describe the importance of a nation's legal system, and identify the main differences between the three main types of legal systems. 130) Explain the risk-management method of "adaptation." Why would it most likely be less costly and time-consuming to pursue this method in a nation that practices civil law rather.
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    11) In China, family relationships rarely enter the business environment.   12) The biggest contributor to China's unemployment rate is its reunification with Hong Kong.   13) When China regained control of Hong Kong, it promised to implement a "one country, two systems" scenario to support economic and political freedom in Hong Kong. 14) China.
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    61) When a country is not able to produce a good more efficiently than other nations, but produces the good more efficiently than it does any other good, it is said to have a(n) ________. A) absolute advantage B) resource advantage C) first-mover advantage D) comparative advantage   62) Which of the following developed the theory.
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    101) Economic systems in ________ cultures tend to provide incentives and rewards for individual initiative. 102) ________ cultures tend to offer few incentives and rewards for individual initiatives.   103) ________ is rooted in the ideology that the welfare of the group is more important than individual well-being. 104) The notion of central economic.
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    51) Which of the following is the main goal of privatization? A) Reduce responsibility and accountability B) Increase economic efficiency C) Increase subsidies to companies D) Slow economic growth   52) In a market economy, nearly all economy-related decisions are determined by the interplay of ________. A) government and individuals B) supply and demand C) customers and employees D) large.
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    51) Under which of the following political systems are government leaders elected directly by the wide participation of the people or by their representatives? A) Democracy B) Theocracy C) Communism D) Totalitarianism   52) Most democratic nations practice ________, in which citizens elect individuals from their groups to help govern the people and pass laws. A) public.
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    91) Which of the following is most likely to assist Sandy in keeping a low profile? A) Dressing like the locals whenever possible and avoiding expensive jewelry B) Participating in public demonstrations attended by large local crowds C) Streamlining financial transactions by paying for expenses with large denominations D) Maintaining the ability to cover.
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    101) A(n) ________ system includes the structures, processes, and activities by which a nation governs itself.   102) ________ political participation occurs when few people participate in the political process.   103) Totalitarian governments tend to share three features: ________, ________, and ________.   104) Under a(n) ________ political system, religious leaders enforce laws and regulations.
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