BA 10 - Global Business and Entrep. - Fall 2001 - Himelstein

BA 10 - Global Business and Entrep. - Fall 2001 -...

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Unformatted text preview: suaaac'rlvescona‘ . _ 0‘03“ WNW” AND erumeezemeuasmp pp,“ ' INSTRUCTOR USEONLY- , PART 1 2,0 0 l 1400 90 80 7o 50*'; - usiness Administration 10 The Corporation and the 2 . ternational Business Environment , E . December 2001 ‘ i isiness and Entrepreneurship '_ ' 33 imelstein 2 . - w i .5 3 “’3 33: 35 I t 22% 2% 2| $2,: 2: rl 2: '“ .i :er the following on your Scantron: ,L,{ ' fl ‘ .. pa r“. \" ‘3. 4' 1—- Jr Student Identification Number Z D} : version~you won't: know this until 3 n % Fhis module number number: (101 114) Instructor Owerkowmz Krzysztof Hirsh. Scott 3'888 'ON WHOfl WVlOl ZLHVQ liHVd auooaa'isai = Lin. Jack Gay Eugene Gay Eugene Lin. Jack Hsu, Wendy .3, ram .3le r35. 1. As more and more firms engage in international business, the world economy is fast becoming a single interdependent system, a process called: a) Exporting b) Importing 5) Capital mobility (dlgGlobalization 6) Direct investment 2. A government order forbidding exportation and/or importation ofa particular product from a particular country is called a: a) tariff (t2) embargo 5)) subsidy cl) local content law e) quota 3. A country producing goods more efficiently or better than other goods is said to have a(n): a) absolute advantage b) balance of payment deficit ,3) monopolistic advantage 'gdjficomparativc advantage e) none ofthe above 4. In maintaining and reporting its financial status, every corporation must conform to: a) corporate rules J?) the FDA draw d) insider information e) AACSP 5. When the value of one country’s currency relative to that of another varies with market conditions, it has a: 1_a)lfloating exchange rate Ti) fixed exchange rate c) van'ous exchange rate d) pegged exchange rate e) international exchange rate 3:5. The Oil Producing and Exporting Countries (SPEC) is an example of a: l, a\‘ foreign direct investment business office c) cane] B9 quota e1 subsidy 13. Which of the following is NOT one of the proposed global labor standards? a) Do not use child or forced labor b) Provide a safe working environment 0) Respect workers‘ right to unionize ”ab Regularly require more than 48-hour work weeks \E'I Pay fair wages to meet workers' basic needs 14. The represents the first attempt to establish a truly global mediation center to resolve international trade disputes. at) International Trade Court by World Trade Organization c Global Trade Commission d) United Nations International Mediation Center 15. Which ofthe following is NOT one ofthe key myths that helped drive the boom in technology stocks? r—x K21) fl Technology companies can not generate breathtaking growth gains in earnings, sales and productivity ’ for years to come b) Technology companies are not subject to ordinary economic forces c) Prospects are more important than earnings d) Exponential Internet growth hasjust begun and, ifanything, will accelerate e) This time, things are different ‘4‘}; 6. Respondingkto increased demand with overly steep, and often unwarranted price increases is called: \aQ price fixing b) collusion 0) unit pricing (1) segmentation pricing @price gouging M13 17. Which ofthe following types of firms have planning and decision-making functions that are geared to international markets? a multinational firms l3))intemational firms c) exporting firms d) domestic firms e) none of the above 18. The SBA bases its definition of small businésses on: a) number of suppliers b) annual net income after taxes 0) number of employees 9 . total annual sales Q3 oth c and d 7. Firms actively seek Opportunities to contribute to social projects under which of the following approaches? a) social obligation approach social reaction approach get-{Social response approach all ofthe above e) none ofthe above 8. People who assume the risk of business ownership with a primary goal of growth and expansion are called entrepreneurs: @me ) False 9-. Ofthe following financial indicators, which one requires the most attention from the entrepreneurial venture? 3) Income Statement b) Breakeven Analysis c Balance Sheet d) Cash Flow Statement J 10. Start-up firms often rely on outside experts to provide management advice. Management consultants can often be quite expensive, but they can be advantageous to these entrepreneurial ventures for the following reason: a) They generally comprise the company's board of directors They run the day to day operations ofthe firm c \ They bring an objective, independent, and trained outlook to the business They often supply financing to the company 11. Detailed outlines of proposed businesses and markets, owner’s backgrounds, and other sources of funds for small business that are often required to be presented to lenders are called: a) mission statements b statements of philosophy @business plans d) currency tables e) financial statements 12. XYZ Hardware, a US. retailer, buys much ofits inventory from Asian countries. XYZ Hardware would benefit ifthe value of the dollar relative to the currencies of the countries from which XYZ imports: @ Rose Fell c) Remained constant d) Floated unpredictably 25. When a country’s exports exceed its imports, a nation has a: Gynade surplus N 7\ d “‘l b trade deficit c) balance of trade d) balance of payments e) none of the above 26. The majority of dealerships selling Fords, Chevrolets, Toyota, and Volvos are: a) small businesses b) partnerships c) corporations d) sole proprietorships @Jicensed brokers 27. Upon its inception on January 1, 1999, the EURO was worth $1.17 (U.S. dollars). Currently, the EURO's value relative to the US. dollar has generallv been: ’1‘ Significantly lower (trading in the range of $080—$100) b Approximately the same (trading in the range ofSl.lO-$l.25) 0) Significantly higher (trading in the range of$1.30-$l.50) 28. Which of the following sources of funds are usually relied on by individuals starting up new businesses? a) bond markets b) stock markets capital markets *ersonal resources .6 lending institutions 5 E 29. Government economists in the small nation of Blueland reported that their country's imports for 1998 were $3 billion greater than its exports. They also reported that Blueland experienced a balance of payments surplus for 1998. These reports suggest that: a) Blueland's economists are mistaken. The nation must have had a balance of payments deficit since more money flowed out of Blueland for imports than flowed into the country for its exports. b) Blueland's gold reserves apparently appreciated in value. ® Money inflows from tourism, foreign aid, foreign investment and other sources more than offset the difference between imports and exports. d) Blueland's government must have revalued the country's currency to obtain a more favorable exchange rate. 30. As a general rule, manufacturing businesses are the easiest to start and service businesses are the hardest: a True )False 2 19. AbOut what percent of all new business will NOT celebrate a sixth anniversary? a) 10 percent b) 90 percent c) 20 percent Rd) 60 percent l (9.0 j) 83 percent ’5‘: 3;, In 20. In addition to describi g the business concept, a business plan needs to include the suggested model for achieving commercial viability ofthat c0ncept: 21. Which ofthe following is the key characteristic of regional common markets? a) Coordination of laws to facilitate trade amongst members b) Common external tariffs No internal tariffs d)) All ofthe above Ne) None of the above 22. The Federal Express market entry strategy in China is a good example of: a) Think globally, act locally b) International foolishness . 6)) Global marketing 23. The systematic analysis of an organization‘s success in using mutual funds earmarked for its social responsibility goals is called a: a) governmental mandate b) community activist approach 9) government initiative Cg) social audit e) balance sheet reconciliation 24. Which of the following industry groups is the fastest growing segment of small business enterprise? a) manufacturing b) wholesaling c retailing :d ervices e) agriculmre 31. Which ofthe following factors are typically cited as reasons for small business success? a) hard work, drive, and dedication b) market demand for products or services provided c) managerial c0mpetence d) luck @ all ofthe above _? 32. The US. government reqmrement that US. Air Force buy all ofits planes from US. manufacturers is referred to as: a) imposing quotas “B protectionism c local content laws ‘ X1 embargoing Qpracticing free trade 33. Last Question: This is version <C>. Bubble in <C> for this question and write <C> in the identification section of your Scantron. lfyou do not answer this question, you lose the point. ...
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