Reference no: EM132256199
True or False
1. The term "FOREX" stands for foreign exchange (of national currencies). T F
2. Approximately US$5 trillion in FOREX is traded daily on the world's electronic currency exchanges. T F
3. Sustainable economic development meets the needs of the present without compromising the ability of future generations to meet their own needs. T F
4. Culture in international management can be understood as evident both nationally and in the workplace according to the work of Geert Hofstede. T F
5. Drivers of globalization can be remembered using the acronym, "STEEP." T F
6. Muhammad Yunus received the Nobel Prize in 2014 for his work developing microfinance to support economic development. T
7. Basic international strategies are often classified according to their costs and the degree to which they are responsive to pressures for localization. T F
8. World population in our lifetimes will rise to approximately 10 billion. T F
9. The acronym "MNE" stands for "multinational enterprise." T F
10. Economies in today's world are more or less in the same stage of development. T F
11. An example of an economic driver of globalization is free market capitalism. T F
12. Geert Hofstede was originally a psychologist for IBM when he began to study workplace culture in the late 1970's. T F
13. At the heart of our model known as "Determinants of Culture" we find the term "Norms and Value Systems," which reflect national cultural behavior. T F
14. China has helped 300,000,000 persons out of poverty over the last 30 years as described in the film "People's Republic of Capitalism" by Ted Koppel.. T F
15. Politically, Iran is a democracy just like the US where church and state are separated by the national constitution. T F
16. In order to develop an appropriate market entry strategy, it is important to understand both the national and workplace cultures of a new market. T F
17. 'Export-import' as a market entry strategy is less risky because banks guarantee both payment and delivery of goods using a document known as a "letter of credit." T F
18. Muhammad Yunus developed both microfinance and social business models. T F
19. Globalization is being impacted to an extent by nationalism as evidenced by the USA's increasing emphasis trade disputes/wars with China and the EU. T F
20. In Iran, as in many countries in the Mideast, gender segregation (male and female separation in public) is the norm. T F