GBA 440 QUIZ 1

Question 1 (1 point)

Goods and services purchased abroad and brought into a country are called ________.

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Question 2 (1 point)

The term ________ refers to entities cooperating across national boundaries.

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Question 3 (1 point)

Which of the following terms is defined as the set of values, beliefs, rules, and institutions held by a specific group of people?

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Question 4 (1 point)

Which of the following terms is used to refer to the ideas, beliefs, and customs to which people are emotionally attached?

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Question 5 (1 point)

A(n) ________ is anything that represents a culture’s way of life, including gestures, material objects, traditions, and concepts.

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Question 6 (1 point)

Betty Cleveland is the vice president of Frankfurter Friday, a highly successful hot dog joint in Oceania. Her company decides to expand to Asia and identifies China as the ideal market. Before she leaves for China, she studies their culture extensively and discovers that the number four is considered extremely unlucky, that not everybody is fluent in China’s official language—Mandarin—and that punctuality is a highly valued trait in the country.

Which of the following terms describes Betty’s effort to learn more about the Chinese culture?

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Question 7 (1 point)

According to Hofstede’s framework, organizations which have cultures that score high on ________ tend to be more hierarchical, with power deriving from prestige, force, and inheritance.

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Question 8 (1 point)

According to Hofstede’s framework, a culture with large power distance tends to be characterized by ________.

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Question 9 (1 point)

According to Hofstede’s framework, a culture with ________ values security and places its faith in strong systems of rules and procedures in society.

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Question 10 (1 point)

According to Hofstede’s framework, a culture that scores low on ________ is characterized by individual stability and reputation, fulfilling social obligations, and reciprocation of greetings and gifts.

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Question 11 (1 point)

An established consumer market that primarily comprises the middle class and possesses efficient infrastructure is characteristic of ________ markets.

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Question 12 (1 point)

Two major forces that underlie the expansion of globalization are falling barriers to trade and investment, and ________.

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Question 13 (1 point)

The ________ replaced the institution of GATT while retaining all of the former GATT agreements.

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Question 14 (1 point)

Which of the following was created to regulate fixed exchange rates and enforce the rules of the International monetary system?

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Question 15 (1 point)

Under a(n) ________ political system, the state reigns supreme over institutions such as family, religion, business, and labor.

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Question 16 (1 point)

________ political systems include democracies, constitutional monarchies, and some aristocracies.

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Question 17 (1 point)

________ is a political system in which political leaders rely on military and bureaucratic power to support their rule.

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Question 18 (1 point)

In ________ cultures, economic systems tend to provide incentives and rewards for a person’s private business initiatives.

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Question 19 (1 point)

What do communists and socialists have in common?

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Question 20 (1 point)

The segment of the economic environment comprising independently owned firms that seek to earn profits is called the ________.

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