275. __________ is the exchange of merchandise or services for other merchandise or services
without the exchange of money.
276. Due to a nation’s weak currency, people may have to fall back on __________.
277. __________ is lowering the value of a nation’s currency relative to other currencies.
278. _______ is a complex form of bartering in which several countries may be involved, each
trading products and services for the products and services of another country.
279. Under the floating exchange rate system, the value of a country’s currency is determined
by:
280. The legislation that prohibits U.S. businesses from making “questionable” or “dubious”
payments to foreign officials, to secure business contracts is the _____________.
281. Which of the following statements describes laws and regulations in global markets?
282. To understand legal and regulatory conditions and be successful in global markets it’s
often useful to contact:
283. People from other nations sometimes comment on the
ethnocentric
attitudes of U.S.
businesspeople. This indicates that American businesspeople:
284. A sociological challenge that must be overcome in order to be successful in the global
market is:
285. _________________ differences such as insufficient electrical power and transportation
systems can present special problems for U.S. firms when attempting to enter global markets.
286. Casey is typical of many U.S. businesspeople. Casey feels the U.S. culture defines the
model for the rest of the world, and that the “American way” of doing things is the best. Casey is
guilty of:
287. In order to level the playing field in trade between the U.S. and China, U.S. policymakers
have called upon China’s government to allow the yuan to float freely, as other world currencies.
Through government regulation, China maintains an undervalued currency, which results in:
288. Workers in the nation of Argenia prefer managers that forcefully tell employees what to
do and how to do it. Conversely, employees in the U.S. prefer to participate in decision making in
the workplace. This __________ difference between Argenian workers and U.S. workers
represents a management challenge for firms trading in the global market.
289. A Mexican firm has agreed to trade petroleum to an American importer in return for U.S.–
made computers. This arrangement is an example of:
290. Idle Time Gaming, Inc., needed silicon wafers that it knew could be mass-produced
efficiently by Silicon City, Inc., a start-up firm in India. The Indian company needed MSG
(metallurgical grade silicon) in order to make the wafers, which it knew it could get from a
Chinese firm. The Chinese firm agreed to supply the silicon to the Indian company if it could get a
certain quantity of gaming hardware from Idle Time. This beneficial exchange is described as:
291. An influential foreign government official approaches your firm requesting a large sum of
money. In return for this bribe, the official promises that your firm will receive preferential
treatment in future government contracts. You refuse the request, explaining that the _________
Act of the United States prohibits you from making such payments.
292. U.S. recording studios are feeling the pinch in profits due to the fact that artists’ music is
copied and sold overseas within 24 hours of the music selling in the U.S. market. As a student
who is now aware of the challenges businesses face in global trade, which of the following
statements do you think is an accurate representation of this situation?
293. A United States firm recently won a large contract with a company in Malaysia, by
providing the foreign nation’s government officials with American cars and a promise of
additional monetary gifts. Clearly, this procedure:
294. When studying abroad last year, Blake found that his U.S. dollars did not stretch as far as
he had hoped. Each time he exchanged U.S. dollars for euros, he gave up more U.S. dollars in
exchange for less euros. The exchange rate indicates:
295. The Ozark Bike Company recently entered into an agreement with a large Japanese
retailer to distribute its bicycles in Japan. Ozark Bike Company sees itself in a favorable position
because:
296. Rosa’s aunt was taking a cruise to Brazil. She suggested to Rosa that she would be glad
to buy her some jewelry while in port in Rio de Janeiro because the exchange rate would be to
her benefit. This means:
297. Hennessy Hardware, a U.S. retailer, buys much of its inventory from Asian countries.
Hennessy Hardware would benefit if the value of the dollar ________ relative to the currencies of
the countries from which Hennessy imports.
298. Jake’s family business sells and installs tile in bathrooms and kitchens. He is convinced
that heater coils under bathroom floor tiles is the best thing since sliced bread. In his effort to
avoid domestic competition, he sets his sights on the vast Chinese market. Much to his surprise,
most Chinese people do not yet have indoor plumbing and are accustomed to government-run
communal baths. Jake realizes that his global marketing effort is hampered by:
299. Brett, a U.S. student, is preparing for a trip to Thailand in the near future. He read in
The
Wall Street Journal
that the dollar has strength against the Thai baht. Which of the following
would be an exchange that would indicate this currency situation?
300. Under a system of floating exchange rates, changes in the value of the U.S. dollar relative
to other currencies are the result of:
301. If global trade experts predict that the value of the dollar will soon fall, it will result in:
302. ___________ is the use of government regulations to limit the import of goods and
services.
303. Trade protectionism:
304. ______________ was an 18th-century belief that a nation should try to sell more goods to
other nations than it buys from them.
305. The two basic types of tariffs are:
306. A ________ tariff is designed to raise the price of imported products so that domestic
goods are more competitively priced.
307. ________ tariffs are designed to raise money for the government.
308. In an effort to protect domestic jobs, some countries will place a limit on the number of
certain types of products that can be imported. These limits are called:
309. A(n) __________ refers to a complete ban on importing or exporting of products from a
specific country.
310. Some governments initiate restrictive standards that detail exactly how a product must
be sold in a country. Trade experts call these restrictions ______________.