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Term forex stands for foreign exchange

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Reference no: EM132253818

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 F

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

Reference no: EM132253818

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