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1. MGT 448 Final Exam Guide
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20 Question Set Choose the best answer for each question below. There is only one
(1) answer to each question.Please make sure you only select one box for each
question.1.Which of the following best describes globalization?The increasing
unification of the world’s economic systemThe development of a world
governmentIncreasing U.S. trade with ChinaEase of communications due to the
Internet 2.Which of the following is a consequence of globalization?Foreign direct
investment (FDI) has declinedCompetitive pressures have decreased in many
industriesForeign companies compete directly with domestic firmsWorld trade has
decreased over the last decade 3.Critics of globalization claim that foreign
companies may put adverse pressure on small domesticfirms potentially driving
them out of business.TrueFalse 4.Global corporations view the world as their
market?TrueFalse 5.Which of the following modes of foreign entry is best described
by cost and risk sharing while gaininglocal knowledge and political
influence?FranchisingLicensingJoint VentureTurnkey project
6.___________________ predicts that countries will export those goods that make
intensive use oflocally abundant factors and will import goods that make intensive
use of factors that are locallyscarce.The new trade theory7.The theory of absolute
advantageThe theory of competitive advantageThe Heckscher-Ohlin Theory
8.American citizens may pay bribes when doing business in another country as long
as bribes are considered a “normal” way of doing business in that country.TrueFalse
9.The cost of capital in global markets is generally lower than in domestic
markets.TrueFalse 10.Which of the following represents the 4 P’s of the marketing
mix?Place, Price, Profit, and PromotionProduct, Price, Promotion, and
PlaceProduct, Process, Promotion, and PlaceProduct, Process, Promptness, and
Place 11.When deciding whether to do business in another country, firms will
review the financial system of the country. Which of the following is not a step in
the financial overview process?The ability to repatriate profitsReview of the health
of the host country banking systemSources of capital and financeCompetitor
profiling 12.Tariffs lower the cost of the imported productTrueFalse 13.In a
free-market economy,Business decisions are coordinated with government
advisorsProfits from a successful firm may be applied to less successful firms to
keep them viablePrivate ownership is predominant and business decisions are made
by the ownersLarge firms are owned by the government 14.The ___________
exchange rate is the price at which a dealer expects to convert currency into in
thefuture.SpotForwardBackwardFair 15.The World Bank was created in 1944 for
the principal purpose ofProviding a clearinghouse for currency

2. exchangesEnhancing economic development and FDI principally in
AfricaEnhancing economic development through subsidized loansEnhancing
economic development and FDI principally in Latin America 16.A country is in a
balance of trade equilibrium whenthe country is a member of a free trade blocit has
not had a reevaluation of its currency in over a yearthe capital account and the
current account sum to zero.the income its residents earn from exports is equal to the
money paid to foreigners to purchaseimports17.A falling dollar results inthe cost of
imports decrease and the cost of exports increasethe cost of imports increase and the
cost of exports increasethe cost of imports decrease and the cost of exports
decreasethe cost of imports increase and the cost of exports decrease 18.The four
main dimensions of organizational structure arevertical differentiation, horizontal
differentiation, management differentiation, and informationsystemsvertical
differentiation, horizontal differentiation, integration, and information
systemsvertical differentiation, horizontal differentiation, integration, and control
systemsvertical differentiation, diagonal differentiation, integration, and control
systems 19.Horizontal differentiation refers to how a firm is divided into
subunitsTrueFalse An exit strategy is the means by which a business ends
operations or cancels a project in a country in which it is doing business due to
factors such as a significant change in the business climate of that country.TrueFalse
20.Customizing a product offering, marketing strategy, and business strategy to
various nationalconditions is an example ofa global strategyan international
strategya domestic strategya multidomestic strategy