17. The Group of 20 includes the European Union (EU)—a regional bloc.
ANS: T PTS: 1 DIF: Difficulty: Easy
REF: p. 11 OBJ: LO: 1-2 NAT: BUSPROG: Analytic
KEY: Bloom's: Knowledge
18. Globalization has driven up the salaries of low-level jobs.
ANS: F PTS: 1 DIF: Difficulty: Moderate
REF: p. 12 OBJ: LO: 1-2 NAT: BUSPROG: Analytic
KEY: Bloom's: Comprehension
19. An international premium is a significant pay raise awarded to expatriate employees working abroad.
ANS: T PTS: 1 DIF: Difficulty: Easy
REF: p. 12 OBJ: LO: 1-2 NAT: BUSPROG: Analytic
KEY: Bloom's: Knowledge
20. Approximately 80 million people worldwide are employed by foreign-owned firms.
ANS: T PTS: 1 DIF: Difficulty: Easy
REF: p. 13 OBJ: LO: 1-2 NAT: BUSPROG: Analytic
KEY: Bloom's: Knowledge
21. Overall, the focus on firm performance around the globe defines the field of global business more than
anything else.
ANS: T PTS: 1 DIF: Difficulty: Easy
REF: p. 15 OBJ: LO: 1-3 NAT: BUSPROG: Analytic
KEY: Bloom's: Knowledge
22. An institution-based view suggests that the success and failure of firms are enabled and constrained by
business norms of the host nation.
ANS: T PTS: 1 DIF: Difficulty: Moderate
REF: p. 15 OBJ: LO: 1-3 NAT: BUSPROG: Analytic
KEY: Bloom's: Comprehension
23. Formal institutions include laws, regulations, and rules.
ANS: T PTS: 1 DIF: Difficulty: Easy
REF: p. 15 OBJ: LO: 1-3 NAT: BUSPROG: Analytic
KEY: Bloom's: Knowledge
24. The institution-based view places emphasis on the external factors that could affect a firm.
ANS: T PTS: 1 DIF: Difficulty: Moderate
REF: p. 16 OBJ: LO: 1-3 NAT: BUSPROG: Analytic
KEY: Bloom's: Knowledge
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