第1題Internationalbusinessconsistsoftransactionsthataredevisedandcarriedoutacross____tosatisfytheobjectivesofindividuals,companies,andorganizations.AindustriesBcompaniesCnationalbordersDprovinceborders第2題Asinternationalbusinesscontinuestogrow,consumersbenefitfromgreaterchoices,higherquality,andlower____.AqualityBdemandCsupplyDcosts第3題Internationalbusinesscreatesanetworkof____linksthatbindsallcountries,institutions,andindividualstogether.AglobalBlocalCdifficultDtight第4題Shiftsinfinancialflowshaveamajoreffecton____,whichistheestablishmentorexpansionofoperationsofafirminaforeigncountry.AexportBforeigndirectinvestmentCimportDservicetrade第1題Whichtradetreatywassignedby23nationsin1947andisheadquarteredinGeneva,Switzerland?____AWorldBankBInternationalMonetaryFund(IMF)CInternationalTradeOrganization(ITO)DGeneralAgreementonTariffsandTrade(GATT)第2題WhichroundofWTOnegotiationsbeganin2001?____AGenevaRoundBUruguayRoundCDohaRoundDTokyoRound第3題____aretaxesonimportedgoodsandservices,institutedbygovernmentsasameanstoraiserevenueandasbarrierstotrade.ATrademarksBQuotasCTariffsDVoluntaryrestraintagreements第4題WhichofthefollowingISNOTareasonforimposingrestrictionsonexports?____ASupplysurplusBTheinterestofnationalsecurityCForeignpolicypurposesDProvidelocalconsumerswithgreateraccess第5題Allnationshaveinternationaltradeandinvestmentpolicies.()第6題Tradepolicyactionsbecomeevidentwhenmeasurestakenbygovernmentsaffecttheflowoftradeandinvestmentacrossnationalborders.()第7題TheWTOprovidesaforumfornegotiatingagreementsaimedatreducingobstaclestointernationaltradeandensuringalevelplayingfieldforall,thuscontributingtoeconomicgrowthanddevelopment.()LectureThreeHomework第1題ThetradingprincipleformulatedbyAdamSmithmaintainedthat:____AInternationalpricesaredeterminedfromthedemandsideofthemarketBDifferencesinresourceendowmentsdeterminecomparativeadvantageCDifferencesinincomelevelsgovernworldtradepatternsDAbsolutecostdifferencesdeterminetheimmediatebasisfortrade第2題UnlikeAdamSmith,DavidRicardo’stradingprincipleemphasizesthe:____ADemandsideofthemarketBSupplysideofthemarketCRoleofcomparativecostsDRoleofabsolutecosts第3題Whenanationrequiresfewerresourcesthananothernationtoproduceaproduct,thenationissaidtohavea():____AAbsoluteadvantageintheproductionoftheproductBComparativeadvantageintheproductionoftheproductCLowermarginalrateoftransformationfortheproductDLoweropportunitycostofproducingtheproduct第4題Accordingtotheprincipleofcomparativeadvantage,specializationandtradeincreaseanation’stotaloutputsince:____AResourcesaredirectedtotheirhighestproductivityBTheoutputofthenation’stradingpartnerdeclinesCThenationcanproduceoutsideofitsproductionpossibilitiescurveDTheproblemofunemploymentiseliminated第5題Inatwo-product,two-countryworld,internationaltradecanleadtoincreasesin:____AConsumerwelfareonlyifoutputofbothproductsisincreasedBOutputofbothproductsandconsumerwelfareinbothcountriesCTotalproductionofbothproducts,butnotconsumerwelfareinbothcountriesDConsumerwelfareinbothcountries,butnottotalproductionofbothproducts第6題Iftheinternationaltermsoftradesettleatalevelthatisbetweeneachcountry’sopportunitycost:____AThereisnobasisforgainfultradeforeithercountryBBothcountriesgainfromtradeCOnlyonecountrygainsfromtradeDOnecountrygainsandtheothercountrylosesfromtrade第7題RefertoTable3.1.TheopportunitycostofoneVCRinBis:____ABCD第8題RefertoTable3.1.TheopportunitycostofoneVCRinAis:____A?tonofsteelB1tonofsteelC1?tonsofsteelD2tonsofsteel第9題RefertoTable3.1.Accordingtotheprincipleofcomparativeadvantage:____AAshouldexportsteelBAshouldexportsteelandVCRsCBshouldexportsteelDBshouldexportsteelandVCRs第10題RefertoTable3.1.Withinternationaltrade,whatwouldbethemaximumnumberofVCRsthatBwouldbewillingtoexporttoAinexchangeforeachtonofsteel?____A1VCRB2VCRsC3VCRsD4VCRs第11題ThesimultaneousimportandexportofcomputersbyGermanyisanexampleof:____AIntraindustrytradeBInterindustrytradeCPerfectcompetitionDImperfectcompetition第12題TheLeontiefparadoxprovided:____ASupportfortheprincipleofabsoluteadvantageBSupportforthefactorendowmentmodelCEvidenceagainstthefactorendowmentmodelDEvidenceagainsttheprincipleofabsoluteadvantage第13題Whichtradetheorysuggeststhatcomparativeadvantagetendstoshiftfromonenationtoanotherasaproductmatures?____AInterindustrytradetheoryBIntraindustrytradetheoryCProductlifecycletheoryDOverlappingdemandtheory第14題Accordingtothespecificfactorstradetheory:____AOwnersoffactorsspecifictoexportindustriessufferfromtrade,whileownersoffactorsspecifictoimport-competingindustriesgainBOwnersoffactorsspecifictoexportindustriesgainfromtrade,whileownersoffactorsspecifictoimport-competingindustriessufferCBothownersoffactorsspecifictoexportindustriesandownersoffactorsspecifictoimport-competingindustriesgainfromtradeDBothownersoffactorsspecifictoexportindustriesandownersoffactorsspecifictoimport-competingindustriessufferfromtradeLectureFourHomework第1題____isanintegratedsystemoflearnedbehaviorpatternsthatarecharacteristicofthemembersofanygivensociety.ALawBCultureCPolicyDEducation第2題Whichofthefollowingis/aretheelement()ofculture:____AlanguageBvaluesandattitudesCmannersandcustomsDalloftheaboveLectureFiveHomework第1題A(

)____isagovernmentaction,usuallyconsistingofaspecificmeasurethatdistortsthefreeflowoftradeforanadversarialorpoliticalpurposeratherthananeconomicone.AsanctionBembargoCtariffDexportlicense第2題Managerscantakeactionstoreducetheriskofconfiscation,expropriation,domestication,andothergovernmentinterferencesuchas:____Ademonstrateconcernwithhostcountry’ssocietyandbecomeapartofthecountry,notanexploiterofitBcloselymonitorpoliticaldevelopmentsCpurchaseinsurancetocoverlossesDalloftheabove第3題Anembargoconsistsofaspecificcoercivetrademeasurethatdistortsthefreeflowoftradeforanadversarialorpoliticalpurpose.()第4題Confiscationisthegovernmenttakeoverofacompanywithcompensationfrequentlyatalevellowerthantheinvestmentvalueofthecompany’sassets.()第5題Domesticationisthegovernmentdemandforpartialtransferofownershipandmanagementresponsibilityfromaforeigncompanytolocalentities,withorwithoutcompensation.()第6題Arbitrationistheprocedureforsettlingadisputeinwhichanobjectivethirdpartyhearsbothsidesandmakesadecision.()

LectureSixHomework第1題____referstotheeffectthatimportsfromothermemberstateswithlowercostswilldisplacedomesticproductionastariffsareremoved.ATradecreationBTradediversionCWelfaregainDWelfareloss第2題WhichofthefollowingisNOTatypeofRegionalTradingAgreements:____AafreetradeagreementBapreferentialtradingagreementCacustomsunionDnoneoftheabove第3題ThereisadangerthattheproliferationofalargenumberofRegionalTradingAgreementsmayincreasetradingtensionsbetweencountries.()第4題Thereisno"freerider"problemwithRegionalTradingAgreementsandmultilateraltradeliberalization.()第5題Tradecreationiseconomicwelfarereducing.()第6題Tradediversioniseconomicwelfareenhancing.()第7題Tradediversionreferstothatimportsfromnon-memberstateswithlowcostswillbedisplacedbyhigher-costimportsfrommemberstates.()第8題ForagivenRegionalTradingAgreement,ifTradeCreationislargerthanTradeDiversion,thenglobaleconomicefficiencymightbeincreased.()第9題ForagivenRegionalTradingAgreement,ifTradeCreationissmallerthanTradeDiversion,thenglobaleconomicefficiencymightbereduced.()第10題Foracustomsunion(CU),inadditiontotheeliminationoftariffsonalltradebetweenthememberstates,acommonexternaltariff(CET)isalsoadopted.(

)LectureSevenHomework第1題The____isthemostcommonformofbusinessorganizationwhichhasalloftherightsandresponsibilitiesasthatofanindividual,whilepossessinglimitedliabilitytoitsowners.AcorporationBfirmCbusinessDconglomerate第2題Acorporationisalegalcreationdeemedtohaverightsandresponsibilitieslikeaperson.Unlikehumanbeings,however,acorporation____.AcannotborrowBcannotbuyCcannotsellDcannotpossesamoralconscience第3題Thetwoprimaryfinancialstakeholdersofafirm,theprovidersofcapitalforbothinvestmentandoperation,are____.AcustomersandmanufacturersBemployeesandcreditorsCshareholdersandcreditorsDemployeesandshareholders第4題The____stakeholdersofafirmareallthoseemployedbythefirm,includingmanagementandleadership.AfinancialBbusinessCinternalDexternal第5題____istheoperationofafirmororganizationinamannerwhichattemptstobalancetheinterestsofallstakeholdersoftheorganization.AMaximizationofshareholdervalueBDividendyieldCStakeholdercapitalismDCorporategovernance第6題Allpersonsorgroupswhichmayaffectorbeaffectedbytheactivitiesofanorganizationlikeacorporationarecalledstakeholders.()第7題Ifacorporationlosesmoney,acquiresdebt,orincurslegalliabilities,theindividualownersareatriskoflosingmorethanwhattheyhaveinvestedinthecompany.()第8題Arightiswhenapersonorgroupispotentiallyaffectedbytheactionsofanorganizationorfirm.()第9題Intermsofglobalbusiness,mostcompaniesarepubliclytraded.(

)第10題Theprivatelyheldfirmdoesnothaveashareprice.It,therefore,simplyfocusesongeneratingcurrent