Test bank for global business today 3rd australian edition by hill

Difficulty: Easy Gradable: automatic Learning Objective: 1.1 Explain the process and drivers of globalisation and the opportunities and challenges it creates for business Section: Introd

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This chapter has 50 questions.

Scroll down to see and select individual questions or

Multiple Choice Questions - (40) Section: Drivers of Globalisation - (11)

True/False Questions - (10) Section: Introduction - (15)

Odd Numbered - (25) Section: Managing in the Global Marketplace: What's the Difference? - (2)

Even Numbered - (25) Section: Opening Case - (1)

Learning Objective: 1.1 Explain the process and drivers of globalisation and the opportunities and challenges it

creates for business - (30)

Section: The Global Economy of the 21st Century: The Emerging Markets Century? - (1)

Learning Objective: 1.2 Illustrate how the global economy has changed over the past 50 years - (11) Section: The Globalisation Debate - (4)

Learning Objective: 1.3 Justify the labelling of the twenty-first century as the Emerging Markets Century - (4) Section: The Globalisation of Markets - (4)

Learning Objective: 1.4 Debate the impact of globalisation on issues such as job security, income inequality and

Learning Objective: 1.5 Compare how the management of international business differs from the management of

domestic business - (2)

1 The most global of markets are for industrial goods and materials that serve a universal need around the world rather than for consumer products

False

True / False Question

Question 1 The most global of

markets are for

Difficulty: Easy Gradable: automatic Learning Objective: 1.1 Explain the process and drivers of globalisation and the

opportunities and challenges it creates for business

Section: Introduction

2 Over the past two decades, the globalisation of markets in the services sector has overtaken that of goods manufacturing

True

Question 2 Over the past two decades, the

globalisation

3 Changes in China are creating both opportunities and threats for established international business

False

Question 3 Changes in China are creating

both opportunities

4 An international business is any firm that engages in exporting

True

Question 4 An international business is

any firm that

5 Offshoring is a special form of outsourcing

False

Question 5 Offshoring is a special form of

outsourcing

Difficulty: Medium Gradable: automatic Learning Objective: 1.1 Explain the process and drivers of globalisation and the

6 Part of Boeing's rationale for outsourcing so much of its production to foreign suppliers is that these suppliers are the best

in the world at their particular activity

False

Question 6 Part of Boeing's rationale for

outsourcing so much

Difficulty: Hard Gradable: automatic Learning Objective: 1.1 Explain the process and drivers of globalisation and the

Section: The Globalisation of Production

7 The European Union Central Fund (EUCP) has replaced that of the International Monetary Fund (IMF)

True

Test Bank for Global Business Today 3rd Australian Edition by Hill Full file at https://TestbankDirect.eu/

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Question 7 The European Union Central Fund (EUCP)

has replaced

Difficulty: Hard Gradable: automatic Learning Objective: 1.2 Illustrate how the global economy has

changed over the past 50 years Section: The Emergence of Global Institutions

8 Two macro factors that underlie the trend towards greater globalisation are (1) the decline in barriers to the free flow of goods, services and capital; and (2) the dramatic developments in recent years in information and communication

technologies and transportation

False

Question 8 Two macro factors that underlie

the trend towards

Section: Drivers of Globalisation

9 During the Global Financial Crisis (GFC), the main reasons for the decline in global production were through a severe drop in consumer demand and an inability to finance international trade due to tight credit controls

False

Question 9 During the Global Financial

Crisis (GFC), the

10 The Group of Twenty (G20) is an international forum comprising the government representatives of the G8 and a selection

of other economies who have global economic issues they wish to address at the forum

True

Question 10 The Group of Twenty (G20) is an

international

Difficulty: Medium Gradable: automatic Learning Objective: 1.2 Illustrate how the global economy has changed over

the past 50 years Learning Objective: 1.3 Justify the labelling of the twenty-first century as

the Emerging Markets Century Section: The Changing World Output and World Trade Picture

11 A goal of Komatsu was to become ‘truly global' To be truly global is exemplified by:

replicating existing domestic products and operations in foreign locations

ensuring most key management decisions are made by foreign nationals

→ more autonomy for local managers in foreign markets and less reliance on expatriate managers

more women occupying key management positions in the organisation

Multiple Choice Question

Question 11 A goal of Komatsu was to

become

Section: Opening Case

12 The most global of brand names is in what area?

services consumer goods

→ industrial goods

intellectual capital

Question 12 The most global of brand names is in

what

Difficulty: Medium Gradable: automatic Learning Objective: 1.2 Illustrate how the global economy has changed

over the past 50 years Section: Introduction

13 Offshoring, which means that the tasks previously performed in one country are now being undertaken abroad, is accepted widely by , but not as much by _ at this time

→ manufacturing; services

management; unions governments; corporations the home country; the host country

Question 13 Offshoring, which means that the tasks

previously

Difficulty: Hard Gradable: automatic Learning Objective: 1.2 Illustrate how the global economy has changed

14 Which of the following refers to the exporting of goods or services to consumers in another country?

situational commerce

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world exchange

→ international trade

cross-national barter

Question 14 Which of the following refers to the

exporting

Difficulty: Easy Gradable: automatic Learning Objective: 1.2 Illustrate how the global economy has changed

15 When a firm invests resources in business activities outside its home country, giving it control over those activities, it is referred to as:

international trade

domestic direct investment

transnational barter

→ foreign direct investment

Question 15 When a firm invests resources in

business

16 Critics of globalisation argue that falling trade barriers and the costs of production allow firms to move manufacturing operations to countries where the wage rates are much lower than in Australia Supporters of globalisation reply to these criticisms and trends to make the point that:

→ the benefits outweigh the costs

the costs outweigh the benefits

costs are offset by concentrating on product and market factors

consumers benefit in the long run

Question 16 Critics of globalisation argue

that falling

Difficulty: Medium Gradable: automatic Learning Objective: 1.4 Debate the impact of globalisation on issues such as job

security, income inequality and the environment

Section: The Globalisation Debate

17 The globalisation of _ refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (such as labour, energy, land and capital)

information technology process design

markets

Question 17 The globalisation of

_ refers

18 The globalisation of refers to the shift towards a more integrated and interdependent world economy

corporations production

culture

Question 18 The globalisation of

refers

Section: The Globalisation of Markets

19 A company does not have to be the size of multinational corporations to facilitate and benefit from the globalisation of markets In Australia, for example, _ of firms that export are small businesses employing fewer than _ employees

57%; 10 67%; 15

87%; 25

Question 19 A company does not have to be

the size of

Section: The Globalisation of Markets 20

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Although Boeing is incorporated in the United States, eight Japanese suppliers make parts for the fuselage, doors and wings; a supplier in Singapore makes the doors for the nose landing gear; and three suppliers in Italy manufacture wing flaps Boeing is taking part in:

exporting

licensing

→ outsourcing

franchising

Question 20 Although Boeing is incorporated

in the United

21 In establishing their credentials, companies such as McDonald's hamburgers, Samsung phones and Apple iPads apply the same basic formula worldwide, which is to:

→ standardise its product offerings, and then adapt to local conditions

adapt its product offerings, and then standardise to local conditions

outsource manufacturing to key suppliers

open large warehouses under franchise agreement

Question 21 In establishing their credentials,

companies

22 One of the key adaptations of the Indian-based global conglomerate, the Tata Group, for home and international markets was to consider:

free delivery to customers who repeat purchase

subsidised customer parking

→ a customised assembly service and delivery

car designs for small-space living in high-rise apartments

Question 22 One of the key adaptations of the

Indian-based

23 An international treaty that committed signatories to lowering barriers to the free flow of goods across national borders is called:

the International Agreement on Trade

the Global Expansion Agreement

the Warsaw Pact

→ the General Agreement on Tariffs and Trade

Question 23 An international treaty that committed

signatories

over the past 50 years Section: The Emergence of Global Institutions

24 The most global of markets is in what area?

services consumer goods

→ industrial goods

intellectual capital

Question 24 The most global of markets is

in what area?

25 The term 'offshoring':

is synonymous with outsourcing

→ means that the tasks previously performed in one country are now being undertaken abroad

means shoring-up intellectual capital

means that the tasks that were previously performed in-house are now purchased from another country

Question 25 The term

'offshoring':

Difficulty: Medium Gradable: automatic Learning Objective: 1.1 Explain the process and drivers of globalisation and the opportunities

and challenges it creates for business

26 Globalisation results in a greater degree of across markets and in the world

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diversification; homogeneity diversity; complexity

→ integration; interdependency

isolation; independence

Question 26 Globalisation results in a

greater degree of

27 Although outsourcing has been primarily confined to _, increasingly, companies are taking advantage of

outsourcing for

services; manufacturing

→ manufacturing; services

mining; manufacturing manufacturing; mining

Question 27 Although outsourcing has been

primarily confined

Difficulty: Medium Gradable: automatic Learning Objective: 1.1 Explain the process and drivers of globalisation and

the opportunities and challenges it creates for business

28 _ is seen as the lender of last resort to nation-states whose economies are in economic turmoil and whose

currencies are losing value against those of other nations

→ The International Monetary Fund

The International Bank The United Nations The United States

Question 28 _ is seen as the lender of last

resort

29 With membership of 193 countries, the _ was established to preserve peace through international cooperation and collective security

World Monetary Fund International Monetary Fund International Bank

Question 29 With membership of 193 countries, the

30 Promoting economic development, primarily by offering low-interest loans to governments of poorer nations, is the

purpose of:

the United Nations

the International Monetary Fund

the World Trade Organization

Question 30 Promoting economic development,

primarily by

31 _ are the two macro factors that seem to underlie the trend towards greater globalisation

The increase in global economic stability; and the slowdown in technological change The increase in barriers to the free flow of goods, services and capital that has occurred since the end of World War Two; and global economic stability

The decline in barriers to the free flow of goods, services and capital that has occurred in the past 10 years; and the slowdown in technological change

→ The decline in barriers to the free flow of goods, services and capital that has occurred since the end of World War Two; and increased technological change

Question 31 _ are the two

macro factors

32 The investing of resources in business activities outside a firm's home country is referred to as:

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international trade

domestic direct investment

transnational barter

→ foreign direct investment

Question 32 The investing of resources in

business activities

33 The _ (now subsumed under the World Trade Organization) is a treaty designed to remove barriers

to the free flow of goods, services and capital between nations

Global Agreement on Tariffs and Commerce United Nations Treaty on Trade

→ General Agreement on Tariffs and Trade

Multinational Agreement on Tariffs and Commerce

Question 33 The _ (now

subsumed under

Difficulty: Easy Gradable: automatic Learning Objective: 1.1 Explain the process and drivers of globalisation and

34 Evidence suggests that foreign direct investment is playing:

a decreasing role in the world economy

an increasing role in the world economy for services but a decreasing role in the world economy for manufactured goods

an increasing role in the world economy for manufactured goods but a decreasing role in the world economy for services

→ an increasing role in the world economy

Question 34 Evidence suggests that foreign

direct investment

35 When discussing foreign direct investment, it is important to distinguish between the flow of FDI and the _

of FDI

outflow inflow

trade

Question 35 When discussing foreign direct

investment, it

36 The flow of foreign direct investment experienced a major temporary setback during which years?

1990–99 2000–07

2010–11

Question 36 The flow of foreign direct

investment experienced

37 is the theory that predicts that the power of microprocessor technology doubles and its cost of

production falls every 18 months

Brennan's Theorem Bailey's Law

Ivan's Law

Question 37 is the theory

that predicts that

38 According to the textbook, between 1930 and 1990, the cost of a 3-minute phone call between New York and London fell from USD$244.65 to USD$3.32 By 1998, it had plunged to just USD$0.36 cents for consumers, and much lower rates for businesses All of these changes are due to:

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the Dial Subscriber Network(s)

international dialler subscriptions

→ the internet

the latest in the NBN telecommunications processes

Question 38 According to the textbook,

between 1930 and

39 Due to containerisation and transportation technology, the transportation costs associated with the globalisation of

production have:

remained the same

increased dramatically

increased slightly

Question 39 Due to containerisation and

transportation technology

Difficulty: Medium Gradable: automatic Learning Objective: 1.1 Explain the process and drivers of globalisation and

40 One measure of the sustainability, or 'carbon footprint', of food production is 'food miles'—that is, the distance the food travels to reach the supermarket shelves Food producers who are carbon efficient in their food production, and are

concerted in their efforts on environmental protection, are likely to have:

a distinct advantage

an absolute advantage

a comparative advantage

→ a competitive advantage

Question 40 One measure of the

sustainability

Difficulty: Hard Gradable: automatic Learning Objective: 1.4 Debate the impact of globalisation on issues such as job

41 One concern of globalisation critics is that a global economy shifts economic power away from and towards

the proletariat; the bourgeoisie

→ national governments; supranational organisations

the West; the East the East; the West

Question 41 One concern of globalisation

critics is that

Difficulty: Hard Gradable: automatic Learning Objective: 1.4 Debate the impact of globalisation on issues such as job

42 Which of the following is NOT a reason why some of the world's poorest countries have suffered from economic

stagnation?

economic policies that destroy rather than facilitate the creation of wealth weak protection for property rights

war

Question 42 Which of the following is NOT a

reason why some

Difficulty: Hard Gradable: automatic Learning Objective: 1.4 Debate the impact of globalisation on issues such as

job security, income inequality and the environment

43 To is the minimum that a firm has to do to engage in international business

→ export or import

invest directly in operations in another country establish joint ventures or strategic alliances with companies in other countries licence products to companies in other countries

Question 43 To is

the minimum that

44 Any firm that engages in international trade or investment is referred to as:

a multinational

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a franchise

a conglomerate

→ an international business

Question 44 Any firm that engages in

international trade

45 Managing an international business is different from managing a purely domestic business for all of the following reasons, except:

countries are different

international transactions involve converting money into different currencies

→ the range of problems confronted by a manager in an international business is narrower than those confronted by a manager in a domestic business

an international business must find ways to work within the limits imposed by government intervention in the international trade and investment system

Question 45 Managing an international

business is different

Difficulty: Medium Gradable: automatic Learning Objective: 1.5 Compare how the management of international

business differs from the management of domestic business Section: Managing in the Global Marketplace: What's the Difference?

46 Managing an international business is different from managing a domestic business and is more challenging due to a

variety of reasons including country differences; a wider range of more complex problems; the greater intensity of

competition; increased likelihood of intervention by governments, home and host; and:

barriers to cross-border trade and investment are said to be flat or dormant

outsourcing is increasing due to worldwide productivity

→ added complexity of conducting transactions in different countries

national economies are becoming increasingly interdependent on each other

Question 46 Managing an international

business is different

Difficulty: Hard Gradable: automatic Learning Objective: 1.5 Compare how the management of international

business differs from the management of domestic business Section: Managing in the Global Marketplace: What's the Difference?

47 The Chinese Company HiSense has been able to be successful internationally through:

earning more than 50 per cent of their total revenue internationally

utilising the main drivers of growth in the rapidly developing economies around the world

falling regulatory and administrative barriers to doing business internationally

→ establishing subsidiaries (manufacturing bases) around the world

Question 47 The Chinese Company HiSense has been

able to

over the past 50 years Section: The Changing Shape of the Global economy

48 In keeping with the normative prescriptions of liberal economic ideology, in country after country we have seen state-owned businesses privatised, widespread deregulation adopted, markets opened to more competition, and commitment increased to removing barriers to cross-border trade and investment All of this helps to:

achieve economic dominance over the rest of the world

ensure authoritarian governments shift in emphasis towards more democratic controls

→ facilitate a move towards the establishment of a more global economic system

predict shifts (along with their attendant risks) in the economic, political, social, technological and environmental structures of the world

Question 48 In keeping with the normative

prescriptions

Difficulty: Medium Gradable: automatic Learning Objective: 1.3 Justify the labelling of the twenty-first century as the

Emerging Markets Century Section: The Global Economy of the 21st Century: The Emerging Markets

Century?

49 The Group of Twenty (G20) is an international forum comprising the government representatives of the G8 and other economies, including the emerging economies of Brazil, China and India, as a reflection of their rising global economic and political power to:

achieve economic dominance over the rest of the world

ensure authoritarian governments shift in emphasis towards more democratic controls

→ help facilitate continuing globalisation and trade liberalisation

predict shifts (along with their attendant risks) in the economic, political, social, technological and environmental structures of the world

Question 49 The Group of Twenty (G20) is an

Difficulty: Medium Gradable: automatic

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the Emerging Markets Century Section: The Changing World Output and World Trade Picture

50 A sovereign wealth fund is a:

→ government-controlled fund that manages and invests government savings

privately controlled fund that manages and invests private sector savings

pseudo-controlled fund that manages both private and government savings

savings fund for the benefit of countries in the Commonwealth only

Question 50 A sovereign wealth fund

is a:

Difficulty: Medium Gradable: automatic Learning Objective: 1.3 Justify the labelling of the twenty-first century as the

Emerging Markets Century Section: The Changing Foreign Direct Investment Picture

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