International Business Law
Chapter Exam Questions
Course Introduction
International Business Law explores the legal frameworks and regulations that govern commercial transactions and business operations across national borders. The course covers topics such as international contracts, dispute resolution mechanisms, trade regulations, intellectual property rights, and the impact of treaties and international organizations like the World Trade Organization (WTO). Students will gain an understanding of how different legal systems interact, the challenges of operating in multiple jurisdictions, and the ethical considerations involved in global business. By analyzing real-world cases and current issues, students will develop the skills necessary to navigate the complexities of international business environments.
Recommended Textbook
Global Business Today 3rd Canadian Edition by Charles Hill Thomas McKaig
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16 Chapters
2010 Verified Questions
2010 Flashcards
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Page 2
Chapter 1: Globalization
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128 Verified Questions
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Sample Questions
Q1) Which of the following is a major cause for lowering the trade barriers of markets and production?
A)Technological change
B)Increased labour mobility
C)Elastic demand
D)Corporate greed
E)Consumer demand
Answer: A
Q2) In 1963, the U.S.accounted for _________ percent of world manufacturing output.
A)80.0
B)12.8
C)65.6
D)40.3
E)24.6
Answer: D
Q3) General Agreement on Tariffs and Trade is what the acronym GATT stands for.
A)True
B)False
Answer: True
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Page 3
Chapter 2: Country Differences in Political Economy
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141 Flashcards
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Sample Questions
Q1) Amartya Sen believed that development should be assessed more by measures such as _______________.
A)Aggregate demand
B)Aggregate supply
C)PPP
D)HDI
E)GNP
Answer: D
Q2) Property rights refer to the bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource.
A)True
B)False
Answer: True
Q3) Individualism is opposite to collectivism.In a political sense, individualism refers to a philosophy that an individual should have freedom in his or her economic and political pursuits.
A)True
B)False
Answer: True
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Page 4
Chapter 3: The Cultural Environment
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Sample Questions
Q1) The relationship between religion and ethical systems on the one hand and business practice on the other is _____________.
A)large compared to the impact of economic policy
B)large compared to the impact of culture
C)small compared to the impact of economic policy
D)small compared to the impact of culture
E)large and growing
Answer: C
Q2) The prohibition of the payment or receipt of interest is one economic principle of Islam that has received particular attention.
A)True
B)False
Answer: True
Q3) In terms of social structure, Western societies tend to emphasize the primacy of the group, while individuals tend to figure much larger in many other societies.
A)True
B)False
Answer: False
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Chapter 4: Ethics in International Business
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Sample Questions
Q1) The naïve immoralist approach to ethics holds that the moral worth of actions and practices is determined by their consequences.
A)True
B)False
Q2) Many international business ethical issues arise as a result of all BUT which one of the following?
A)Differences in economic development
B)Differences in legal systems
C)Differences in monetary exchange rates
D)Differences in cultures
E)Differences in politics
Q3) Developed in the 20<sup>th</sup> century, _______ recognize(s) that human beings have fundamental rights and privileges that transcend national boundaries and cultures.
A)righteous morality
B)cultural relativism
C)just distribution
D)the Sullivan doctrine
E)rights theories
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Page 6
Chapter 5: International Trade Theories
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Sample Questions
Q1) As the market in the U.S.and other advanced nations matures, the product becomes more standardized and price becomes:
A)governmentally regulated.
B)greater.
C)unimportant.
D)the main competitive weapon.
E)more differentiated
Q2) Domestic rivalry creates pressure to do all of the following except:
A)to innovate.
B)to reduce costs.
C)to improve employee relations.
D)to invest in upgrading advanced factors.
E)to improve efficiency
Q3) The New Trade Theory began to emerge in the ______
A)1960s
B)1970s
C)1980s
D)1990s
E)2000s
Q4) Describe the central tenant of the product life-cycle theory.
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Chapter 6: The Political Economy of International Trade
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Sample Questions
Q1) __________ arguments for government intervention into international trade are typically concerned with boosting the overall wealth of a nation.
A)Economic
B)Political
C)Legal
D)Sociocultural
E)Constitutional
Q2) If Apple won an order to sell 500 of its new minicomputers to Australia, but the Australian government stipulated that 20 percent of the component parts of the minicomputers that it purchased must be produced in Australia, that stipulation would be an example of a(n)
A)ad valorem content requirement.
B)specific content requirement.
C)ad hoc content requirement.
D)local content requirement.
E)domestic producer content
Q3) A tariff reduces the cost of imported products relative to domestic products.
A)True
B)False
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Page 8
Chapter 7: Foreign Direct Investment
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Sample Questions
Q1) Which of the following is not true about why firms prefer to acquire existing assets rather than undertake green-field investments?
A)Foreign firms are acquired because those firms have valuable strategic assets.
B)Firms make acquisitions because they believe they can increase the efficiency of the acquired unit by transferring capital, technology, or management skills.
C)Firms make acquisitions because they believe it will make more profits for the home firm and home country.
D)Mergers and acquisitions are quicker to execute than green-field investments.
E)Mergers and acquisitions are cheaper than green-field investments
Q2) FDI is often undertaken as a response to:
A)exporting
B)FDI outflows
C)FDI inflows
D)threatened import tariffs
E)high GDP levels
Q3) Historically, there have been high levels of FDI outflows from the United States.
A)True
B)False
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9
Chapter 8: Regional Economic Integration
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Sample Questions
Q1) The European Free Trade Association's emphasis has been on free trade in A)services.
B)agricultural products.
C)industrial goods.
D)consumer goods.
E)capital
Q2) The implications of the Single European Act are
A)unknown.
B)enormous.
C)negligible.
D)moderately important.
E)positive and negative
Q3) The spectre of the ______________ turning into "economic fortress" that shut out foreign producers with high tariff barriers is worrisome to those who believe in unrestricted free trade.
A)EU and NAFTA
B)EFTA and UN
C)UN and WTO
D)NAP and IMF
E)Mercosur and APEC
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Chapter 9: The Foreign Exchange Market
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Sample Questions
Q1) The ______________ market school argues that companies can improve the foreign exchange market's estimate of future exchange rates by investing in forecasting services.
A)inefficient
B)free
C)open
D)closed
E)efficient
Q2) According to our textbook, when the growth in a country's money supply is faster than the growth in its output, _____________ is(are) fuelled.
A)economic growth
B)unemployment
C)inflation
D)per capita savings
E)wage increases
Q3) Currency speculation typically involves the short-term movement of funds from one currency to another in the hopes of profiting from shifts in exchange rates.
A)True
B)False
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Chapter 10: The Global Monetary System
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Sample Questions
Q1) An idea that has been raised in the past among some Canadian economists and businesses is whether to abandon the Canadian dollar and just use the U.S.dollar.Their arguments centre around the degree to which our two economies are integrated, the reduction in costs and the greater price transparency and ease of trade.What is your position on this? Explain.
Q2) One of the changes that was a result of Canada's return to the gold standard in 1926 was that
A)chartered banks could no longer hold gold in their reserves
B)the price of gold was allowed to fluctuate according to demand and supply
C)gold mining was made a monopoly of the government
D)the Canadian dollar was devalued to reflect the price of gold
E)currency provided by the chartered banks lost its status as legal tender.
Q3) The Bretton Woods agreement called for
A)variable exchange rates.
B)fixed exchange rates.
C)freely floating exchange rates.
D)a set of "managed" floating exchange rates.
E)currency boards
Q4) Explain the reasons behind the collapse of the South Korean Won during the Asian financial crisis.
Page 12
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Chapter 11: Global Strategy
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Sample Questions
Q1) ____________ permitting, the firm will benefit by basing each value creation activity it performs at that location where economic, political, and cultural positions are most conducive to the performance of that activity.
A)Production regulations
B)Resources and revenues
C)Trade barriers and transportation costs
D)Distribution and resource availability
E)Exchange rates and transportation costs
Q2) Human resources, materials management, and manufacturing are included as the primary activities in a firm's value chain.
A)True
B)False
Q3) ________________ allow firms to share the fixed costs of developing new products or processes.
A)Strategic alliances
B)Subsidiaries
C)New ventures
D)Green-field ventures
E)Partnerships
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Page 13
Chapter 12: Entering Foreign Markets
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Sample Questions
Q1) According to the text, __________________ tend to change the competitive playing field and unleash a number of changes, some desirable and some undesirable.
A)economies of scale
B)loan commitments
C)significant strategic commitments
D)technological development
E)pioneering costs
Q2) In a recent article, Bartlett and Ghoshal pointed out the ability that businesses based in developing nations have to enter foreign markets and become:
A)global players.
B)top sellers.
C)first-movers.
D)late-entrants.
E)international businesses
Q3) A decision that is short-term in nature and is fairly easy to reverse is referred to as a strategic commitment.
A)True
B)False
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14
Chapter 13: Exporting, Importing, and Countertrade
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Sample Questions
Q1) As an exporter, according to the opening case, which of these is a key problem for Megahertz Communications?
A)Credibility of foreign governments
B)Financing
C)Substandard products for foreign markets
D)Language
E)Country specific technical standards
Q2) For Canadian firms, one of the most comprehensive sources of export opportunities information is/are the:
A)Trade Commissioners.
B)the United Nations.
C)Team Canada.
D)foreign embassies.
E)Industry Canada.
Q3) Given the financial and other risks, today, governments at all levels in Canada are not willing to assist small firms in starting export operations.
A)True
B)False
Q4) What is countertrade? Give an example of when it can be used.
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Chapter 14: Global Marketing and RD
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Sample Questions
Q1) What can the differences in technical standards constrain?
A)The segmentation of markets
B)The localization of markets
C)The development of markets
D)The globalization of standards
E)The globalization of markets
Q2) According to the textbook, the elasticity of demand for a product in a given country is determined at least in part by the following two important factors
A)geographic location and economic stability.
B)currency rates and interest rates.
C)income level and competitive conditions.
D)tax rates and standard of living.
E)perception of what is a luxury and what is a necessity
Q3) How do economic differences between countries affect the important of different product attributes?
Q4) The most important determinant of channel length is the degree to which the retail system is fragmented.
A)True
B)False
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Chapter 15: Global Production, Outsourcing, and Logistics
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Sample Questions
Q1) Define the term "materials management." Discuss the relationship between materials management and logistics.
Q2) What system has a drawback that leaves a firm without a buffer stock of inventory?
A)total-quality management
B)just-in-time
C)management by objectives
D)reengineering system
E)CAD/CAM
Q3) What are the type of decisions about whether a firm should make or buy the component parts that go into the final product?
A)end-user
B)synergistic
C)sourcing
D)quality
E)cost
Q4) Discuss the advantages of entering into strategic alliances with suppliers? In general, is alliance formation a good idea for international firms?
Q5) Describe the terms flexible manufacturing and mass customization.
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Chapter 16: Global Human Resource Management
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Sample Questions
Q1) Organized labour has responded to the increased bargaining power of multinational corporations by taking which of the following actions?
A)trying to impose regulations on multinationals through organizations such as GATT
B)trying to achieve international regulations on multinationals through such organizations as the United Nations.
C)trying to establish regional boards
D)trying to lobby multinational corporations to restrict their global reach to three or fewer foreign countries.
E)creating global bargaining units
Q2) Research suggests that between _______________ of all American employees sent abroad to developed nations return from their assignments early.
A)4 and 12 percent
B)8 and 22 percent
C)12 and 26 percent
D)16 and 40 percent
E)26 and 56 percent
Q3) Explain the impact of unionization on HRM.
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