BUS357 Week 1 – Quiz

Question 1

1 / 1 pts

A problem of using the nation as a reference point for culture is that ________.

Correct!

variations tend to be great within a country

such an approach tends to be polycentric

self-stereotypes tend to fall along national lines

nations fail to mediate the different interests within their boundaries

 

Question 2

1 / 1 pts

The piracy of intellectual property rights ________.

usually benefits the property holder

Correct!

can both benefit and harm consumers

is combated most zealously by lesser developed countries

involves losses that are not considered extensive in industrialized countries

 

Question 3

1 / 1 pts

________ involves the sale and legal transfer of government-owned resources to private interests.

Renationalization

Deregulation

Antitrust legislation

Correct!

Privatization

 

Question 4

1 / 1 pts

The broadening set of interdependent relationships among people from different parts of the world is known as ________.

outsourcing

franchising

offshoring

Correct!

globalization

 

Question 5

1 / 1 pts

Although globalization may bring economic growth, critics nevertheless contend that ________.

the cultural foundations of sovereignty are supported by globalization

this growth is mainly for the future, thus ignoring present economic growth needs

Correct!

the inequality of gains puts some people in a relatively worse economic situation

the growth is not fast enough

 

Question 6

1 / 1 pts

Although English is referred to as the “international language of business,"________.

Correct!

monolingual English speakers may experience more difficulty in the future in communicating on a worldwide basis

companies headquartered outside English-speaking countries all use their official language as their operating language

there is a growing disagreement over which version of English to use, e.g. British, American, or Australian

it is less frequently used than French in international business

 

Question 7

The WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) ________.

deals with vaccines, such as for malaria, but does not cover drugs such as those used to treat HIV/AIDS

requires tiered pricing for most drugs

Correct Answer

permits developing countries to import generic products from other countries if they don’t have the capacity to produce generic drugs

allows rich countries to produce generic versions of patented drugs without having to pay royalties to the patent holder

 

Question 8

According to the Ethical Trading Initiative (ETI), ________.

MNEs cannot be part of the process of setting ethical employment practices since they are the problem in the first place

Correct Answer

no harsh or inhumane treatment of workers should be allowed

employment need not be freely chosen in order to be acceptable

child labor cannot be used unless there are no suitable alternatives

 

Question 9

1 / 1 pts

________ can occur when demand declines and supply grows.

Correct!

Deflation

Reflation

Chronic inflation

Inflation

 

Question 10

1 / 1 pts

Gross national income (GNI), the broadest measure of economic activity for a country, is defined as ________.

Correct!

the income generated by both total domestic production and the international production activities of national companies

the total of all economic activity in one country less services, such as government administration, health services, and education

the income generated in one country, regardless of who owns the productive assets

the total of all consumption and investment that takes place in a national economy