Reference no: EM132222798

1. What is a “learned system of knowledge, behavior, attitudes, beliefs, values, and norms shared by a group of people” called?

a) Culture

b) Co-culture

c) Community

d) Dominant culture

2. If a company were to draw from the ideas proposed in the various theories of international trade, from a profit perspective, how would it go about selecting locations for its businesses?

It would concentrate its productive activities mostly in developing countries.

It would concentrate its productive activities in its home country.

It would disperse its productive activities to those countries where they can be performed most efficiently.

It would disperse its productive activities across all countries that serve as its market.

3. Joel is the manager of his company's facilities in Bangladesh. He believes in applying the exact same standards of working conditions, wages, and labor management in Bangladesh as practiced in the company's corporate office in the U.S.—a policy that does not always translate successfully given the vast cultural differences between the two nations. Joel can be identified as subscribing to the straw man approach of:

naive immoralism.

cultural relativism.

righteous moralism.

the Friedman doctrine.

4. Countries such as the U.S should not participate in free trade because it leads to a migration of jobs overseas and ultimately leads to lower living standards.

True

False

5. All of the following were provisions of the Uruguay Round Agreement EXCEPT:

clearer and stronger GATT rules.

extension of GATT fair trade and market access rules to cover a wider range of services.

substantial reduction in agricultural subsidies.

increase in tariffs on industrial goods in lieu of the reduction in agricultural subsidies.