Which of the following is based on the assumption that people are predictable and will seek to maximize the utility of their choices relative to their needs and wants?
a. Behavioral economics
b. Communism
c. Free market economics
d. Rational economics
e.
Rational economics
Of the following statements, which is correct?
a. When companies charge low prices for products sold in their home markets while selling the same products in foreign markets at high prices, the practice is known as dumping.
b. When companies charge high p
When companies charge high prices for products sold in their home markets while selling the same products in foreign markets at low prices that do not cover all the costs of exporting the products, the practice is known as dumping.
Which organization was established in 1995 at the Uruguay round of negotiations?
a. IFCC
b. GATT
c. WTO
d. RIAA
e. NARA
WTO
When various profit centers within corporations become unaware of the overall consequences of their actions on the firm as a whole it is called:
a. risk compartmentalization.
b. packaging.
c. the framing effect.
d. global common values.
e. the Sullivan Pr
risk compartmentalization
Which of the following provides legally binding ground rules for international commerce and trade policy?
a. Federal Trade Commission
b. World Trade Organization
c. Securities and Exchange Commission
d. Omnibus Trade Commission
e. Council on Economic Prio
World Trade Organization
Which organization was developed by the UN and asks businesses to adhere to human rights and labor standards defined in international treaties?
a. Fair Labor Association
b. Global Compact
c. Amnesty International
d. Council on Economic Priorities Accredit
Global Compact
Which of the following brings together people with different cultures, values, laws, and ethical standards?
a. Rational economics
b. Adam Smith
c. Risk compartmentalization
d. Global business
e. Social democracy
Global business
What results when the middle class shrinks, leaving a nation with its wealth concentrated among the very rich and with large numbers of poor people?
a. Bimodal wealth distribution
b. Laissez-faire economics
c. Rational economics
d. Risk compartmentalizati
Bimodal wealth distribution
The unconscious reference to one's own cultural values, experiences, and knowledge is called:
a. power distance.
b. uncertainty avoidance.
c. global common values.
d. the self-reference criterion.
e. cultural relativism.
the self-reference criterion
Who was one of the fathers of capitalism that believed the state could stimulate economic growth and improve stability in the private sector through such measures as controlling interest rates, taxation, and public projects?
a. Adam Smith
b. Milton Friedm
John Maynard Keynes
Which of the following is the international coordinator of regulatory policy for the world and makes short-term loans to member countries with deficits and provides foreign currencies to its members?
a. World Trade Organization
b. International Monetary F
International Monetary Fund
All of the following are major global ethical risks EXCEPT:
a. political unrest, imbalances in power, nationalism, and economic weaknesses in developing nations.
b. internet security and privacy problems.
c. increasingly global affluence and consumer desi
increasingly global affluence and consumer desire for quality products.
Companies such as Coca-Cola, Hewlett-Packard, and Walmart support a globally based resource system called __________, which tracks emerging issues and trends, provides information on corporate leadership and best practices, conducts educational workshops
business for social responsibility
Wal-Mart's annual revenues are greater than the GDPs of most of the countries in the world.
a. True
b. False
True
Laissez-faire capitalism occurs when various profit centers within corporations are unaware of the consequences of their actions on the firm as a whole.
a. True
b. False
False