1 Test Bank For Global Business Today, 6th Edition, Charles W. L. Hill, G. Tomas M. Hult, Thomas McKaig, Frank Cotae Chapter 1-16 Answer are at the End of Each Chapter Chapter 1 Student name:__________ 1) According to the opening case, Bombardier is a good example of: A) domestic markets B) foreign exchange C) globalization of production D) outsourcing E) deregulation 2) The trend toward a more integrated and interdependent global economic system that has been in place for many years is commonly referred to as: A) m arket standardization B) cross -border integration C) globalization D) consumerism E) nationalization 3) Sourcing goods and services from locations around the globe is known as __________. A) melding of markets B) i ntegration of markets C) deregulation D) globalization of production E) globalization of markets 2 4) Currently, most global markets are markets for what type of product? A) Consumer goods B) Industrial goods C) Natio nal products D) Deregulated products E) Local goods 5) The globalization of __________ refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (such as labour, energy, land, and capital). A) information technology B) process design C) markets D) production E) R&D 6) The factors of production include: A) information technology B) process design C) markets D) labour E) research and development 7) The _______ was created in 1944 by 44 nations that met in Bretton Woods, New Hampshire. 3 A) International bank B) World Monetary Fund C) World Trade Organization D) International Monetary Fund E) United Nations 8) The _______ is seen as the lender of last resort to nation -states whose economies are in turmoil and currencies are losing value against those of other nations. A) International Monetary Fund B) International bank C) United Nations D) Canada's Export Development Corporation E) Bank of Canada 9) Who is responsible for policing the world trading system? A) Internation al Monetary Fund B) The World Bank C) The World Trade Organization D) Canada's Export Development Corporation E) Bank of Canada 10) What was created at the same time as the International Monetary Fund? 4 A) World Bank B) GATT C) United Nations D) Canada's Export Development Corporation E) Bank of Canada 11) Although this organization is perhaps best known for its peacekeeping role, one of its central mandates is the promotion of higher standards of living, full employment, and conditions of economic and social progress and development. What is it called? A) World Bank B) GATT C) United Nations D) Canada's Export Development Corporation E) Bank of Canada 12) _______ are the two macro factors that seem to underlie the trend toward greater globalization. A) The increase in global economic stability, and the slowdown in technological change B) The increase in barriers to the free flow of g oods, services, and capital that has occurred since the end of World War II, and global economic stability C) The decline in barriers to the free flow of goods, services, and capital that has occurred in the past 10 years, and the slowdown in technologi cal change D) The decline in barriers to the free flow of goods, services, and capital that has occurred since the end of World War II, and technological change E) Technological change and the convergence of global product preferences 13) A firm exports a number of products to users in other countries. This practice is referred to as __________.
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