GB Unit 1 MC Part 2: Question Preview (ID: 23330)

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In 1979, the Shah of Iran was overthrown and a new government was established. This government immediately seized control of all U.S. companies and assets in Iran. This is an example of
a) expropriation
b) privatization
c) commercial risk
d) granting most favored nation status

A tax that can be used as a trade barrier is the
a) import duty tax
b) personal income tax
c) excise tax
d) value-added tax

Protectionism occurs when
a) governments establish trade barriers
b) a country is granted most favored nation status
c) one company is granted a tax holiday
d) government encourage international trade

Governments encourage and promote its country's exports primarily because
a) exports create jobs and foster economic prosperity
b) exports increase the country's international image and reputation
c) exports increase government revenues through selling export insurance
d) none of these

Tariffs, quotas, and boycotts are examples of
a) trade barriers
b) civil unrest
c) political unrest
d) none of these

Protectionism policies such as tariffs and quotas are used because
a) the government wants to make it harder for companies in other countries to compete with local companies
b) consumers need to be protected from inferior or hazardous products
c) the country needs additional revenue
d) none of these

A multinational enterprise is not acting with social responsibility if it
a) hires all employees from the home country labor force
b) introduces new products that support dominant religions beliefs of the host country
c) hire host-country citizens and provides training
d) installs anti-pollution controls more powerful than required by law

Of the following characteristics, the one that is not characteristic of a democratic system is that
a) the economy is usually a command economy
b) individuals have the freedom to own and operate private business
c) individuals can build a small business into a very large business
d) individuals may travel freely to other country

Members of society are most likely to have good educational opportunies in
a) an industrialized economy
b) a developing country
c) a less-developed country
d) none of these

A citizen of the United States who has recently returned home after living in an underdeveloped section of Africa for two years is least likely to say
a) Everything is exactly as it was when I left two years ago
b) this air-conditioning works too well; I'm chilly
c) He has worn a different outfit to work every day for the last two months
d) Wow! There are at least 20 flavors of ice cream from which to choose

All of the following choices are stages of the culture shock process except
a) total rejection of the new culture after a lengthy stay there
b) happiness or euphora
c) frustration, anger, or depression
d) acceptance of new culture

A U.S. high school sophomore belongs to the subculture of
a) students
b) baby boomers
c) professional athletes
d) senior citizens

An extended family consists of the
a) parents' and/or the children's children
b) the parents
c) the children
d) all of these

All of the following choices are examples of nonverbal communication except
a) speaking to your teacher
b) waving to your friend
c) wearing red on Valentine's Day
d) standing two feet from your friend

If the United States placed a trade embargo on a foreign country
a) no products could be traded between the United States and the foreign country
b) quotas would be placed on all goods entering the United States
c) all business owned by the foreign government in the United States would be privatized
d) the United States would have granted most favored nation status to this foreign country

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