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Exam 3: Doing Business in Global Markets

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Question 71

True/False

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While studying abroad, Joe found that his U.S. dollars did not stretch as far as he had hoped. Every time he exchanged U.S. dollars for euros, he gave up more dollars in exchange for fewer euros. Obviously, the dollar was weak against the euro.

A) True
B) False

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Question 72

Multiple Choice

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When studying abroad last year, Thomas found that his U.S. dollars didn't stretch as far as he had expected. Each time he exchanged his dollars for euros, he had to give up more dollars in exchange for fewer euros. The exchange rate indicates

A) the dollar has gained strength against the euro.
B) the euro is weak against the dollar.
C) the euro has gained strength against the dollar.
D) the demand for dollars is stronger than the demand for euros.

E) B) and C)
F) A) and D)

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Question 73

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Disney contracted with a firm in China to open a Disneyland theme park in Shanghai. This is an example of a joint venture.

If global trade experts predict that the value of the dollar will soon fall, it will result in

Restrictive standards that detail exactly how a product must be sold in a country are examples of protective tariffs.

The benefits of protective tariffs are

According to current U.S. laws, American firms are prohibited from participating in joint ventures with foreign firms.

People from other nations sometimes comment on the ethnocentric attitudes of U.S. businesspeople. This indicates that American businesspeople

Oilers, Inc. refines and markets its energy products in different nations around the world. In addition, Oilers' stockholders and managers come from many different nations. If some of the nations where it operates decided to take over the assets of the company, this act would constitute

The U.S. government announced a 13-million-pound annual limit on Diamontite imported from Taubestan. This type of trade restriction is called a(n)

Serentia, a small nation, has a small automotive industry and is struggling to keep up with larger international automobile manufacturers. Other countries in Serentia's trading bloc have agreed on an import quota on other nations, which limits the number of cars that any country in the trading bloc can buy from other auto manufacturers. This strategy is necessary to help Serentia's auto manufacturer while it is in its infancy.

The objectives of the North American Free Trade Agreement (NAFTA) include allowing free immigration among Canada, Mexico, and the U.S.

Describe and provide examples of four different strategies for reaching global markets.

________ is the practice of selling a product in foreign countries for a lower price than the good is sold in the producing country.

Which of the following terms describes the set of values, beliefs, rules, language, and institutions held by a specific group of people?

In 1999, the European Economic Community adopted a common currency known as the euro.

An American company recently won a huge contract with a company in Indonesia, by gifting the Indonesian government officials with American cars and an assurance of monetary gifts. Clearly, this procedure

The Tsingtao Brewing company pays a fee to Anheuser-Busch InBev for the right to brew and distribute Budweiser in China. Tsingtao is the licensor and the fee paid is a royalty.

Only large firms have the resources needed to successfully compete in the global environment.

A ________ represents a long-term partnership between two or more companies established to help each firm build competitive market advantages, without sharing the cost of risk.