The term “Emerging      Economies” means:

a) Purchasing Power Parity (PPP)
b) Emerging markets
c) Developing countries
d) The above b and c

The Unified Framework      consists of the following:

a) Institution-based view
b) Resource-based view
c) Fundamental question: “What determines the success and failure of firm’s around the globe”?
d) All the above

The primary weapons that      foreign firms employ to offset “liability of foreignness” are:

a) Globalization
b) Understanding ethics
c) Understanding formal and informal institutions
d) Overwhelming resources and capabilities

Although institutions do      many things, their key role is to:

a) Build on the “rules of the game”
b) Determine the future of dictators around the globe
c) Increase transaction costs
d) Reduce uncertainty

The following drive      economic development:

a) Culture
b) Geography
c) Institutions 
d) All the above

The main components of      culture are:

a) Business
b) Language
c) Religion
d) The above b and c

Culture is defined as:

a) Regional and ethnic dilemma
b) Something that is difficult to define, therefore does not exist
c) Restrictions to businesses
d) Collective programming of the mind that distinguishes members of one group or category of people from another.

Three approaches to      managing ethics overseas are:

a) Respect for human dignity and basic rights
b) Respect for local traditions
c) Respect for institutional context
d) All the above

Examples of resources and      capabilities that are intangible are:

a) Human
b) Innovation
c) Reputational
d) All the above

“Value chain” consists of      the following series of activities:

a) VRIO Framework
b) SWOT Analysis
c) Political activities
d) Primary activities and support activities used in the production of goods and services, making them more valuable
11. The idea that governments should actively protect domestic industries from imports and vigorously promote exports represents:

Theory of absolute advantage

Theory of mercantilism


Modern trade theories
12. An economic theory that accounts for changes in the patterns of trade over time is known as:

Strategic trade theory

First-mover advantage theory

Product life cycle theory

Strategic trade policy
13. The national competitive advantage of industries depends on:

Country factor endowments   and firm strategy, structure, and rivalry

Domestic demand conditions

Related and supporting   industries

All of these answers
14. Political arguments against free trade include:

National security and   consumer perception

Foreign policy and   environmental and social responsibility

Foreign policy and national   security

National security, consumer perception, foreign policy, and   environmental and social responsibility
15. A type of FDI in which firms move upstream or downstream in different value chain stages in a host county is identified as:

horizontal FDI

radical FDI

vertical FDI

FDI flow
16. Agglomeration advantages stem from:

Knowledge spillovers among   closely located firms that attempt to hire individuals from competitors.

Industry demand that creates   a skilled labor force whose members may work for different firms without   having to move out of the region.

Industry demand that   facilitates a pool of specialized suppliers and buyers also located in the   region.

All of these answers
17. What determines Foreign   Exchange Rates is:
a) Relative price   differences and PPP; Interests rates and money supply
b) Productivity and balance   of payments; Exchange rate policies
c) Investor psychology 
d) All the above
18. What does the term “Emerging   Economies” mean?
19. What is the Unified   Framework for Global Business?
20. What is the a “Liability   of Foreignness”?
21. What are the   disadvantages of Globalization? (Please write down only 3 disadvantages)
22. What do institutions do?
23. Write down some types of   political systems.
24. Write 3 types of   Economic Systems.
25. Define “Cultural   Intelligence”
26. What “SWOT” stands for?
27. What VRIO stands for?
28. Managers needs to build   firm strengths based on the VRIO framework
a) True
b) False
29. Define “Multinational   Enterprise (MNE
30. What the term “Political   Risk” means?
31. Explain why   understanding cultural differences is crucial for global business.
32. Cluster is a group of   countries that have similar cultures
a) True
b) False
33. Corruption is the abuse   of public power for private benefits,   usually in the form of bribery.
a) True
b) False
34. Proactive strategy is a   strategy that anticipates ethical challenges and addresses them before they   happen.
a) True
b) False
35. Outsourcing is turning   over an activity to an outside supplier that will perform it on behalf of the   local firm.
a) True
b) False
36. Managers need to build   up resources and capabilities for future competition
a) True 
b) False
37. Why do nations trade? Here are the 8 reason for   trade What are the 8 reasons for trade?
1) Lower Prices
2) Greater Choice
3) Difference in resources
6) More efficient allocation of resources
4) Economies of scale
5) Increased competition
7) Source of foreign exchange
8) Political Harmony
38. What are the realities   of international trade?
39. Explain how FDI results   in ownership advantages. MNEs generally prefer ownership over licensing   because ownership reduces dissemination risks, provides greater control over   foreign operations, and makes firm-specific know-how easier to implement
40. Why do firms become MNEs   by engaging in FDI? overall,   firms become MNE’s because FDI provides the three-prolonged OLI advantages   that they otherwise would not obtain.
41. What is the meaning of   the term “Market Imperfection “ in   other words “ Market Failure”? Market   Failure. A situation in   which the market does not   allocate resources efficiently. Market failure can occur for one of three reasons. It may occur when   one party has power that can prevent efficient transactions from occurring.   An example is a monopoly.
42. Please know the   following vocabulary and terms:
a) Foreign Exchange Rate
b) Appreciation
c) Depreciation
d) Floating (flexible)   exchange rate policy
e) Fixed Exchange Rate   policy
f) Capital Flight
g) International Monetary   Fund (IMF)
h) Spread
i) Bid rate
j) Offer rate
k) Currency hedging
l) Strategic hedging
43. Risk analysis of any   country must include an analysis of its currency risks.
a) True
b) False

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