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GB Final MC Part 1
Test Description: 1-20
Instructions: Answer all questions to get your test result.
1) A global dependency exists when
A
massive crop failures require buying food from another country
B
doctors travel to another country to provide healthcare because there is a shortage of doctors in that country
C
a country buys tools from another country because it does not have the technology to make the tools
D
all of these
2) All of the following are benefits of international business except
A
decreased competition
B
improved political relationships
C
increased sources of raw materials
D
expanded businesses opportunities
3) Business activities that occur within one country are called
A
domestic business
B
free trade
C
foreign trade
D
international business
4) An example of a trade barrier would be
A
a limit on the number of foreign automobiles a country allows to be imported
B
a sales tax on products made and sold within a country
C
consumers who prefer to buy products from domestic companies rather than foreign companies
D
efforts by a government to encourage exporting among businesses in its country
5) A cultural factor affecting international business activities would be
A
family relationships
B
the availability of natural resources
C
stability of the money supply
D
government policies toward business
6) International business most commonly affects consumers by creating
A
a greater variety of buying choices
B
fewer stores to shop in
C
a change in taxes
D
fewer buying decisions
7) Economics is the study of how
A
none of these
B
individuals make decisions about buying products
C
decisions are made using six steps
D
limited resources are used to satisfy unlimited wants and needs
8) After you take action on a choice in the decision-making process, it is important to review the decision because
A
changed circumstances may require a change in decision
B
you may have made an error in defining the original problem
C
all of these
D
a different decision may need to be made
9) Private property, profit motive, and a free, competitive marketplace are characteristics of a
A
market economy
B
command economy
C
mixed economy
D
none of these
10) The unemployment rate is an indicator of a country's economic situation because
A
fewer goods and service are produced when there is high unemployment
B
people not earning an income reduce the flow of money in circulation
C
a high unemployment rate can cause other people to lose their job
D
all of these
11) As demand for a product increases, prices tend to
A
fall
B
rise
C
remain constant
D
first decline, then rise
12) Of the following choices, the one that is not a characteristic of a culture is that it is
A
learned
B
unifying
C
always written down
D
shared
13) High-context communication is typical in
A
the United States
B
Japan
C
Canada
D
Germany
14) In a culture with strong business and family ties
A
several members of a family may work in the same business
B
all of these
C
protecting a family member is sometime more important than a good business decision
D
family members are usually promoted first in a family-owned business
15) Member of a society are most likely to have good educational opportunities in
A
a developing country
B
an industrialized economy
C
none of these
D
a less-developed country
16) Of the following characteristics, the one that is not characteristic of a democratic system is that
A
individuals can build a small business into a very large business
B
individuals have the freedom to own and operate a private business
C
individuals may travel freely to other countries
D
the economy is usually a command economy
17) A multinational enterprise is not acting with social responsibility if it
A
introduces new products that support dominant religious beliefs of the host country
B
installs anti-pollution controls more powerful than required by law
C
hires host-country citizens and provides training
D
hires all employees from the home country labor force
18) Governments encourage and promote its country's exports primarily because
A
none of these
B
exports increase the country's international image and reputation
C
exports create jobs and foster economic prosperity
D
exports increase government revenues through selling export insurance
19) A tax that can be used as a trade barrier is the
A
personal income tax
B
excise tax
C
value-added tax
D
import duty tax
20) Protectionism occurs when
A
one company is granted a tax holiday
B
a country is granted most favored nation status
C
governments establish trade barriers
D
governments encourage international trade
*select an answer for all questions
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