MAN6608 Midterm Solution

MAN6608 Midterm  Solution

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QUESTION 1

1.            According to the product life-cycle theory, the locus of global production initially switches from the United States to other advanced nations and then from those nations to developing countries. Which of the following is most likely to be a consequence of these trends?

                U.S. imports become less capital-intensive than U.S. exports.

                The pattern of international trade is affected by differences in factor endowments rather than differences in productivity.

                Over time, the United States switches from being an exporter of a product to an importer of the product.

                The wage rates in the United States decrease.

                Developing nations fail to upgrade their skill levels to compete with advanced countries.

0.5 points  

QUESTION 2

1.            What is the shift toward a more integrated and interdependent world economy called?

                International trade

                Foreign direct investment

                Globalization

                Moore's Law

                Containerization

0.5 points  

QUESTION 3

1.            Capricorn Creative Inc., a U.S.-based advertising firm, was the first in the advertising industry to identify the growth potential of Brazil and to make huge investments in its economy. As a result, the firm was able to build brand loyalty and gain experience in that country's business practices. In the language of business strategy, Capricorn Creative has typically benefited from:

                a first-mover advantage.

                forward integration.

                unrelated differentiation.

                lateral diversification.

                technology transfer.

0.5 points  

QUESTION 4

1.            Animax Limited got an order to sell 50,000 central processing units (CPUs) to Palladia, but the Palladian government stipulated that 15 percent of the component parts of those CPUs must be produced in Palladia. This stipulation by the Palladian government would be example of a(n):

                voluntary export restraint.

                quota rent.

                import quota.

                local content requirement.

                antidumping policy.

0.5 points  

QUESTION 5

1.            Standards Motor Products of Queens, New York, maintains a cadre of unskilled workers because:

                Overseas labor is too expensive

                Robotics and other machinery are more expensive than domestic labor

                The company is concerned about their intellectual property

                Quality in offshore production is significantly inferior

0.5 points  

QUESTION 6

1.            The lowering of trade and investment barriers:

                protects domestic industries from foreign competition.

                was not an agenda of the Uruguay Round.

                allows firms to base production at optimal locations outside their home country.

                creates an unfavorable environment for FDI.

                caused the Great depression of the 1930s.

0.5 points  

QUESTION 7

1.            Which of the following statements is true about most Western societies?

                In Western societies social groups, rather than individuals, are the basic building blocks of social organization.

                The value systems of many Western societies emphasize individual achievement.

                In Western societies, the social standing of individuals is merely a function of who they work for.

                The emphasis on individuals in Western societies has led to a low level of entrepreneurial activity.

                It is easier to build and manage teams within organizations in Western societies.

0.5 points  

QUESTION 8

1.            Maytag appliances achieve far better economic performance than firms like Whirlpool and Electrolux by concentrating on markets that are not so widely dispersed geographically

  True

  False

0.5 points  

QUESTION 9

1.            The total amount of the world’s capital formation generated from foreign direct investment is

                75%

                90%

                10%

                Less than 2%

0.5 points  

QUESTION 10

1.            There is a negative relationship between physical distance and trade but a positive one if the trading countries utilize the same currency

  True

  False

0.5 points  

QUESTION 11

1.            Which of the following statements is true about innovations and entrepreneurship?

                A command economy creates greater incentives for innovation and entrepreneurship than a market economy.

                If a country's economy is to sustain long-run economic growth, the business environment must restrict entrepreneurial activity.

                A high level of entrepreneurial activity leads to a low level of innovation.

                Innovations in production and business processes lead to an increase in the productivity of labor and capital.

                Strong legal protection of property rights creates an unfavorable environment for innovation and entrepreneurship.

0.5 points