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BUSI 3250 Final Exam (Ch. 7-9) Questions with Complete Solutions
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BUSI 3250 Final Exam (Ch. 7-9) Questions with Complete Solutions
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BUSI 3250 Final Exam (Ch. 7-9)Questions with Complete Solutions
Foreign environment - Answer-all the uncontrollable forces originating outside the home
country that surround and influence the firm
Foreign Interactions - Answer-interaction between domestic and foreign environmental
forces or between sets of foreign environmental forces
gross domestic product (GDP) - Answer-total monetary value of all goods and services
produced within a nation
Gross National Income (GNI) - Answer-total value of all income generated by the
residents of a nation, including both the domestic production of goods and services and
income from abroad
high-income economies - Answer-GNI per capital of $12,056 or more
middle-income economies - Answer-GNI per capita between $995 and $12,056
low-income economies - Answer-GNI per capita of $995 or less
upper-middle income economies - Answer-GNI per capita between $3,896 and $12,055
lower-middle income economies - Answer-GNI per capita between $996 and $3,895
developing economies - Answer-lower-income nations, which have less technically
developed infrastructure and lower living standards
developed economies - Answer-high-income industrialized nations which have high
living standards and the most technically developed infrastructures
emerging market economies - Answer-Economies with per-capita incomes in the low to
middle range that are in a transition toward developed status
GNI per capita - Answer-indicates how advanced an economy is but should be used
with caution
purchasing power parity - Answer-A means of adjusting the exchange rates for two
currencies so the currencies have equivalent purchasing power
Atlas conversion factor - Answer-The arithmetic average of the current exchange rate
and the exchange rates in the two preceding years, adjusted by the ratio of domestic
, inflation to the combined inflation rates of the euro zone, Japan, the United Kingdom,
and the United States
underground economy - Answer-The part of a nation's income that, because of
unreporting or underreporting, is not measured by official statistics; includes production
of legal and illegal good and services
Economic Growth Rate - Answer-The rate of change of real GDP from one year to the
next
income distribution - Answer-a measure of how a nation's income is apportioned among
its people
GINI index - Answer-A measure of the degree to which family income within a country is
distributed equally; wide range around the world
private consumption - Answer--disposable income: after-tax personal income
-discretionary income: amount of income left after paying taxes and making essential
purchases
personal consumption - Answer-ownership of goods and consumption of key materials
unit labor costs - Answer-total direct labor costs divided by units produced
Vertical Integration - Answer-production by a firm of inputs for its own manufacturing
processes
total population - Answer-most general indicator of potential market size
younger populations - Answer-developing countries generally have ________ than
industrial countries, due to higher birth rates
population density - Answer-measure of the number of inhabitants per area unit
population distribution - Answer-A measure of how the inhabitants are distributed over a
nation's area
rural-to-urban shift - Answer-The movement of a nation's population from rural areas to
cities
The Gold Standard - Answer-monetary system that defines the value of its currency in
terms of a fixed amount of gold; government does not have monetary flexibility
Bretton Woods System - Answer-The international monetary system in place from 1945
to 1971, with par value based on gold and the U.S. dollar
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