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MGT 3013 RONALD ANDERSON -
EXAM 1 2025 BRAND NEW ACTUAL
EXAM WITH ANSWERS.
World Trade Organization (WTO) - correct answer -a permanent
global institution to promote international trade and to settle
international trade disputes
General Agreements on Tariffs and Trade - correct answer -
Proposed to stimulate freer trade among the participants, creating
an enormous market for American goods and investment.
The World Bank - correct answer -A specialized agency of the
United Nations that makes loans to countries for economic
development, trade promotion, and debt consolidation. Its formal
name is the International Bank for Reconstruction and
Development.
International Monetary Fund - correct answer -a United Nations
agency to promote trade by increasing the exchange stability of
the major currencies
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Trading Blocs - correct answer -A group of neighboring countries
that promote trade with each other and erect barriers to limit trade
with other blocs
NAFTA - correct answer -North American Free Trade Agreement;
allows open trade with US, Mexico, and Canada.
EU - correct answer -28 trading countries in Europe
Trans-Pacific Partnership (TPP) - correct answer -A trade
agreement among 12 Pacific Rim countries
Exchange Rate - correct answer -The measure of how much one
currency is worth in relation to another.
BRICS countries - correct answer -Brazil, Russia, India, China,
South Africa
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Culture - correct answer -shared set of beliefs, values,
knowledge, and patterns of behavior common to a group of
people
low-context culture - correct answer -shared meanings are
primarily derived from written and spoken words
High-Context Culture - correct answer -people rely heavily on
situational cues for meaning when communicating with others
Hofstede's Model of Four cultural Dimensions - correct answer -1.
individualism/collectivism
2. power distance
3. uncertainty avoidance
4. masculinity/femininity
the GLOBE Project's 9 Cultural Dimensions - correct answer -1.
power distance
2. uncertainty avoidance
3. institutional collectivism
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4. in-group collectivism
5. gender egalitarianism
6. assertiveness
7. future orientation
8. performance orientation
9. humane orientation
Power distance - correct answer -Degree to which societies
accept the idea that inequalities in the power and well-being of
their citizens are due to differences in individuals' physical and
intellectual capabilities and heritage
Uncertainty avoidance - correct answer -Extent to which people
rely on social norms and rules to avoid future uncertainty
Institutional Collectivism - correct answer -how much should
leaders encourage and reward loyalty to the social unit
In-Group Collectivism - correct answer -how much pride and
loyalty should people have for their family or organization
MGT 3013 RONALD ANDERSON -
EXAM 1 2025 BRAND NEW ACTUAL
EXAM WITH ANSWERS.
World Trade Organization (WTO) - correct answer -a permanent
global institution to promote international trade and to settle
international trade disputes
General Agreements on Tariffs and Trade - correct answer -
Proposed to stimulate freer trade among the participants, creating
an enormous market for American goods and investment.
The World Bank - correct answer -A specialized agency of the
United Nations that makes loans to countries for economic
development, trade promotion, and debt consolidation. Its formal
name is the International Bank for Reconstruction and
Development.
International Monetary Fund - correct answer -a United Nations
agency to promote trade by increasing the exchange stability of
the major currencies
, Page | 2
Trading Blocs - correct answer -A group of neighboring countries
that promote trade with each other and erect barriers to limit trade
with other blocs
NAFTA - correct answer -North American Free Trade Agreement;
allows open trade with US, Mexico, and Canada.
EU - correct answer -28 trading countries in Europe
Trans-Pacific Partnership (TPP) - correct answer -A trade
agreement among 12 Pacific Rim countries
Exchange Rate - correct answer -The measure of how much one
currency is worth in relation to another.
BRICS countries - correct answer -Brazil, Russia, India, China,
South Africa
, Page | 3
Culture - correct answer -shared set of beliefs, values,
knowledge, and patterns of behavior common to a group of
people
low-context culture - correct answer -shared meanings are
primarily derived from written and spoken words
High-Context Culture - correct answer -people rely heavily on
situational cues for meaning when communicating with others
Hofstede's Model of Four cultural Dimensions - correct answer -1.
individualism/collectivism
2. power distance
3. uncertainty avoidance
4. masculinity/femininity
the GLOBE Project's 9 Cultural Dimensions - correct answer -1.
power distance
2. uncertainty avoidance
3. institutional collectivism
, Page | 4
4. in-group collectivism
5. gender egalitarianism
6. assertiveness
7. future orientation
8. performance orientation
9. humane orientation
Power distance - correct answer -Degree to which societies
accept the idea that inequalities in the power and well-being of
their citizens are due to differences in individuals' physical and
intellectual capabilities and heritage
Uncertainty avoidance - correct answer -Extent to which people
rely on social norms and rules to avoid future uncertainty
Institutional Collectivism - correct answer -how much should
leaders encourage and reward loyalty to the social unit
In-Group Collectivism - correct answer -how much pride and
loyalty should people have for their family or organization
