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1. Golden Gate University MGT 179 Week 4
Mid-Term
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MGT 179 Week 4 Mid-Term
Question1
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Whichof the followinggroupsbenefitsthe mostfromthe impositionof tariffs?
Selectone:
a. Domesticproducers
b. Consumers
c. ExportersandImporters
d. ForeignProducers
e. International bodiessuchasthe WTO
Question2

2. Correct
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Whichof the followingstatementsistrue aboutthe businessimplicationsof Japanese society?
Selectone:
a. The determinationof social statusof anindividual isindependentof the standingof the groupto
whichhe or she belongs
b. It isdifficulttofindself-managingworkteamswithinJapanese organizations
c. Itis more successful atpioneeringradicallynewproductsandnew waysof doingbusinessthanthe
UnitedStates
d. There isa lowdegree of movementfromcompanytocompanyamongmanagersand workers
e. The managersand workerslackcompany-specificknowledge,experience,andanetworkof
interpersonalbusinesscontacts
Question3
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Whichof the followingisamajor type of foreigninvestmentriskthatisinsurable throughgovernment
backedprogramslike OPIC?
Selectone:
a. lack of funds
b. riskof transactionloss

3. c. poorstrategictie-ups
d. risksof expropriation
e. lossesdue tonatural calamities
Question4
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AlthoughChinaandIndiaare verylarge marketswhen measuredbythe numberof consumers,theyare
relativelysmall marketswhenmeasuredineconomictermsdue totheir:
Selectone:
a. orientationtowarddemocracy
b. small share inthe worldoutput
c. highlivingstandards
d. limitedpurchasingpower
e. commitmenttoa free marketsystem
Question5
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Whichof the followingindicatesthe difference betweenthe GATTandWTO?

4. Selectone:
a. WTO hasstrict time limitsunlike GATT
b. WTO operatesonthe basisof consensus,unlikethe GATT
c. GATT givestradingpartnersthe rightto compensation,or,inthe lastresort,toimpose
commensurate trade sanctions,unlikethe WTO
d. GATT's verdictisbinding,unlikethe WTO
e. WTO allowsmember-countriestoblockadoptionof arbitrationreportsunlike GATT
Question6
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The practice of "giftgiving"betweenthe partiestoabusinessnegotiationisconsideredrightandproper
behaviorinmanyAsiancultures.However,some Westernersview the practice asa formof bribery,and
therefore unethical,particularlyif the giftsare substantial.Thisreflectsthat:
Selectone:
a. notionsof ethicsare universal
b. Asiancountriesare still underthe influence of totalitarianism
c. whatisethical dependsonone'scultural perspective
d. Asianculturesare more economicallyadvanced
e. there isunanimousagreementaboutacceptedemploymentpractices
Question7
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5. 3.00 pointsout of 3.00
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Accordingto internalizationtheory:
Selectone:
a. licensinggivesafirmthe tightcontrol overmanufacturing,marketing,andstrategyinaforeign
countrythat may be requiredtomaximize itsprofitability
b. licensingmayresultinafirm'sgivingawayvaluable technological know-howtoa potential foreign
competitor
c. licensinghasnomajor drawbacksas a strategyfor exploitingforeignmarketopportunities
d. a problemwithlicensingariseswhenthe firm'scompetitive advantage isbasedmuchonitsproducts
rather thanon the management,marketing,andmanufacturingcapabilitiesthatproduce those
products.
e. licensingismore profitablethanFDI
Question8
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Whichof the followingreferstothe ideathatbusinesspeopleshouldconsiderthe social consequences
of economicactionswhenmakingbusinessdecisions,andthatthere shouldbe a presumptioninfavor
of decisions thathave bothgoodeconomicandsocial consequences?
Selectone:
a. Corporate dissonance
b. ClassConsciousness
c. Corporate dynamism

6. d. Social responsibility
e. Economiesof scale
Question9
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A LatinAmericaneconomyhasdecidedtoopenitseconomytoglobalization.Whichof the followingwill
facilitate thisdecisionof thatcountry(perhapsafirststep)?
Selectone:
a. A strong commitmenttocommunism
b. A strongpresence of private actioninthe nation
c. Adoptingthe Contractsforthe International Sale of Goods(CIGS)
d. Creatinga national environmentthatpromotespublicaction
e. Breakingthe rule of law
Question10
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Accordingto Nobel-prizewinningeconomistPaul Krugman,acountrythatattemptsto establisha
domesticfirmina dominantpositioninaglobal industryismostlikelyto:

7. Selectone:
a. dominate the industry
b. move awayfrom protectionism
c. incurhuge financial debts
d. upsetthe special-interestgroupsinthe economy
e. provoke retaliation
Question11
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The main benefitsof inwardFDIfora hostcountryarise from:
Selectone:
a. the resource-transfereffect,the employmenteffect,andthe balance-of-paymentseffect
b. the labor-transfereffect,the technologyeffect,andthe currency-exchange effect
c. the cultural awarenesseffect,first-moveradvantage effect,andeconomicdevelopmenteffect
d. the foreignexchange reserveseffect,knowledge flow effect,andthe reverse resource transfereffect
e. the employmenteffect,the labor-transfereffect,andthe technologyeffect
Question12
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8. Flag question
Questiontext
The adventof containerizationhas:
Selectone:
a. made movinggoodsfromone mode of transportto anotherextremelylabor-intensive
b. made the economiesof the world'snation-stateslessintertwined
c. significantlyloweredthe costsof shippinggoodsoverlongdistances
d. sloweddownthe globalizationof marketsandproduction
e. increasedcostsof coordinatingandcontrollinga global organization
Question13
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Both ChinaandIndiahave achievedhighgrowthratesdespite relativelyweakpropertyrightsregimes
and highlevelsof corruptionbecauseof:
Selectone:
a. shifttowarda centrallyplannedeconomy
b. highlivingstandards
c. large population
d. highconsumerpurchasingpower
e. shifttowarda marketbasedeconomicsystem

9. Question14
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Diminishingreturnstospecializationoccurwhen:
Selectone:
a. resourcescan move freelyfromthe productionof one goodtoanotherwithinacountry.
b. the cost of producinggoodsreducessubstanitallywithincreaseinnumberof goodsproduced.
c. the quality of resourcescomesdownasa resultof producingmore goods.
d. the qualityof goodsproducedperunitof resource beginstoimprove
e. more unitsof resourcesare requiredtoproduce eachadditional unit.
Question15
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Whichof the followingrequiresthatsome specificfractionof agood mustbe produceddomestically?
Selectone:
a. International allocationrequirement
b. local contentrequirement
c. specificquotarequirement
d. Ad Valoremportionrequirement

10. e. domesticsalesrequirement
Question16
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Dumpinginvolvesforeignproducers
Selectone:
a. attemptinghostile takeoversof domesticfirmsandusurpingthe available resourcesforproduction
b. indiscriminatelyexploitingthe natural resourcesof aforeigncountrytocreate a laterdemandthat
can be metonlybyimports
c. eliminatingcompetitionbysubsidizingpricesinaforeignmarketwithhome marketprofitsand
eventuallyraisingpricestoearnsubstantial profits
d. capturingthe niche marketratherthan the masses
e. exportingonlyasmall quantityof theirproductsintoanimportingcountry
Question17
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Whichof the followinginstitutionshasamonopolyinproposingEuropeanUnionlegislation
Selectone:

11. a. Council of the EuropeanUnion
b. EuropeanCourtof Justice
c. EuropeanCommission
d. EuropeanParliament
e. EuropeanCommunity
Question18
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Richardpurchaseda computerfor $600 in2014. Comparedtothe $900 computerthathe had
purchasedwayback in2010, the newone seemstobe more efficientintermsof the price he has paid
and the powerof the microprocessortechnology.Thisisbestexplainedby:
Selectone:
a. product liability
b. propertyrights
c. Moore'sLaw
d. purchasingpowerparity
e. sustainable strategies
Question19
Correct
3.00 pointsout of 3.00

12. Flag question
Questiontext
The viabilityof anexportingtime isoftenconstrainedbytransportationcosts,particularlyof products
that can be producedinalmostany locationandhave a:
Selectone:
a. highlocal contentrequirement
b. lowlandedcost
c. lowvalue toweightratio
d. lowlicensingtariff
e. highmarginal cost
Question20
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Whichof the followingstatementsistrue aboutimportquotas?
Selectone:
a. importquotasbenefitdomesticproducersbylimitingimportcompetition
b. importquotasalwayslowerthe pricesfordomesticallyproducedgoods.
c. highertariff ratesare usuallyappliedtoimportswithinthe quotathanthose overthe quota.
d. Importquotasbenefitconsumersbydecreasingthe domesticprice of animportedgood.
e. importquotashelpforeignproducersgainacompetitive advantage.

13. Question21
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What isthe difference betweenfolkwaysand mores?
Selectone:
a. Folkwaysare normsthat are seenascentral to the functioningof asociety,whereasmoresare the
routine conventionsof everydaylife
b. Violatingmorestendstobringmore seriousretributionthanviolatingfolkways
c. Folkwaysexclude ritualsandsymbolicbehaviorsincludedinmores
d. Folkwayshave muchgreatersignificance thanmores
e. Morescannot be enactedintolaws,whereasfolkwayscan.
Question22
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In whattype of economyare all businessesstate owned,the rationalebeingthatthe governmentcan
thendirectthemto make investmentsthatare inthe bestinterestsof the nationasa whole ratherthan
inthe interestsof private individuals?
Selectone:
a. Free Market
b. Deregulated
c. Pure Command

14. d. Mixed
e. Laissez-faire
Question23
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Whichof the followingismostlikelytobe protectedbyacopyright?
Selectone:
a. A newmanufacturingprocessinventedinacompany
b. A newlyinventedtelecommunicationdevice
c. Moviesproducedanddirectedbyaperson
d. A newtype of car inventedbyanautomobilecompany
Question24
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Whichof the followingisthe aimof the Central AmericanFree Trade Agreement?
Selectone:
a. Loweringof trade barriersbetweenthe UnitedStatesandthe Central AmericanCommonMarket
countries

15. b. Eliminationof trade barriers betweenthe CARICOMandCentral AmericanCommonMarketcountries
c. Reductionof trade barriersbetweenCaribbeanSingle MarketandEconomynationsandCentral
AmericanCommonMarketcountries
d. Introductionof a commoncurrencyfor CostaRica, El Salvador,Guatemala,Honduras,andNicaragua
e. ReductionsintariffsandquotasbetweenCostaRica,DominicanRepublic,andNicaragua
Question25
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Whichof the followingspecifiesthatU.S.governmentagenciesmustgive preference toU.S.products
whenputtingcontractsfor equipmentouttobidunlessthe foreignproductshave asignificantprice
advantage?
Selectone:
a. Export AdministrationAct
b. Helms-BurtonAct
c. Smoot-HawleyBill
d. Buy AmericaAct
e. VolckerRule
Question26
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16. Questiontext
Choose one of the followingtoanswer:(Choose eitherA orB -- NOTboth):
A) IMF
A criticismof the International MonetaryFund(IMF) isthatithas become toopowerful foraninstitution
that lacksany real mechanismforaccountability.The IMFhas determinedmacroeconomicpoliciesin
those countries,yetaccordingtocriticssuch as notedeconomistJeffreySachs,the IMF,withastaff of
lessthan1,000, lacksthe expertise requiredtodoa good job.Sachs'ssolutiontothisproblemisto
reformthe IMF so it makesgreateruse of outside expertsanditsoperationsare opentogreateroutside
scrutiny.
1)How wouldyoureformthe IMF?
2) How wouldyouchange the IMF in itsrole to promote economicreforminthe countriestowhichitis
providestranches?
3) Chile andSouthKoreaare listedasexampleswhere IMFprogramssucceeded.Whydoyouthinkthey
workedinthose cases?
4) Why do youthinkthat Brazil andArgentinahave notbeenable tohave economicstabilitydespite
repeatedIMFprograms?
B) Japanese CarryTrade:
In the earlypart of the decade,the yenwasrelativelyweakrelativetothe U.S.dollar,butstrengthened
at the endof the decade as investorsreactedtochangesininterestratesbroughtonbythe global
financial crisis. The changingvalue of the yenhaddirectimplicationsforcompanieslike Toyota.
Discussionof the case can revolve aroundthe followingquestions:
1) Why didthe yencarry trade workduringthe early2000s? Why diditstop workingafter2008?
2) What drove an increase inthe value of the yenbetween2008 and2011?
3) Why didthe policyof the Abe governmenttopurchase governmentsecuritieshelpdrive downthe
value of the yen? What was the mechanismatworkhere?
4) DonaldTrumphas saidthat the Japanese have beeninvolvedincurrencymanipulation,apparently
referringtothis.Ishe correct?
Question27
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17. Pointsoutof 15.00
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Answerone of the following(eitherA orB -- NOTboth)
A. ForwardExchange
A U.S. companythat importslaptopcomputersfromJapanknowsthatin30 daysit mustpay inyento a
Japanese supplierwhenashipmentarrives.The companywillpaythe Japanese supplier×150,000 for
each computer,andthe currentdollar/yenspotexchange rate is$1 = ×110. The importercansell the
computersthe daytheyarrive for $1,600 each.However,the importerwillnothave the fundstopay the
Japanese supplieruntil the computershave beensold.The importerentersintoa30-day forward
exchange transactionwithaforeignexchange dealerat$1 = ×105. What is the profitor lossper
computerif the exchange rate after30 daysis $1 = ×90? Show yourwork.
B. MexicanFinancial Crisis
I (ProfessorLynch) spentasabbatical yearfromthe ForeignService in1993/4 at CaterpillarFinancial
Services.One of mytaskswas to helpthemsetupa Finance CompanysubsidiaryinMexico.Inascouting
tripto MexicoI learnedthatthe wealthyownersof the Caterpillardealershipswere sendingtheirmoney
to the US inanticipationof adevaluationthatoccurredeverysix yearswiththe change of Presidents.
The Wall StreetmoneytradersItalkedwithsaidthatthe pesowouldnotbe devalued.Irecommended
that Caterpillarputoff itsinvestmentinthe subsidiaryuntilafterthe dustsettledwiththe elections.
Whenit finallydidso,itgotinfor 45% less,because of the declineinthe dollar.
1) What ledtoMexico’s1995 financial crisis? Whatchallengesface governmentsdealingwitha
financial crisislikethe one thatMexicoexperienced?
2) Why didthe UnitedStatesprovide assistance toMexico? Whywasitimportantto the United
Statesto stabilize Mexico?
3) Is there anyrelationof the crisisto the increase inillegalmigrationtothe USin the late 1990’s and
early2000s? How aboutto the growthof the drugtrade?
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