International Business Final Exam Questions with Complete Solutions

(T/F) A company does not need a large size to facilitate, and benefit from, the globalization of markets - ANSWER-True (T/F) Outsourcing is a process that is limited to manufacturing enterprises - ANSWER-False (T/F) The World Bank has focused on policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties - ANSWER-False (T/F) The central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based - ANSWER-False (T/F) The communists believed that socialism could be achieved by democratic means, and turned their backs on violent revolution and dictatorship - ANSWER-False (T/F) Most modern democratic states practice representative democracy - ANSWER-True (T/F) GNI allows a more direct comparison of living standards in different countries - ANSWER-False (T/F) If a country's economy is to sustain long-run economic growth, the business environment must be conductive to innovations and entrepreneurial activity - ANSWER-True (T/F) Privatization refers to the process of hiring private management consultancy firms to manage state-owned enterprises - ANSWER-False (T/F) A theocratic law system is one in which the law is based on religious teachings - ANSWER-True The shift toward a more integrated and interdependent world economy is referred to as - ANSWER-Globalization Which of the following is a consequence of globalization? - ANSWER-Increasing outsourcing of services The (Blank) is primarily responsible for policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties signed by member states - ANSWER-World Trade Organization