6. An act, as simple as shaking hands when meeting new people is an example of:
mores
social stratification
symbolic behavior.
values
7. A group of people who share a common set of values and norms form a:
society
culture
country
caste
8. Which of the following refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country?
Offshoring
Free trade
Protectionism
Economic patriotism
9. Identify the theory that supports the view that in some cases countries export for the reason that the world market can support only a limited number of firms.
New trade theory
Heckscher-Ohlin theory
Smith's theory
Ricardo's theory
10. Which of the following is a reason why the European Union is considered an imperfect economic union?
Almost all markets are heavily regulated.
Not all members of the union have adopted the euro.
Factors of production are not allowed to move freely between member countries.
Products and services are not allowed to move freely between member countries.
11. The United Nations Universal Declaration of Human Rights, related to employment, upholds all of the following EXCEPT:
equal pay for equal work.
protection against unemployment.
prohibition of trade unions.
just and favorable work conditions
12. Which of the following refers to the extent to which individuals can move out of the strata into which they are born?
Class system
Individual potential
Social mobility
Caste stratification
13. Expatriate managers may experience more than the usual degree of pressure to violate their personal ethics because of all of the following reasons EXCEPT:
they are psychologically and geographically closer to the parent company.
they may be surrounded by local employees who have less rigorous ethical standards.
they are away from their ordinary social context and supporting culture.
they may be based in a culture that does not place the same value on ethical norms important in the manager's home country.
14. A _____ has no barriers to trade between member countries, includes a common external trade policy, and allows factors of production to move freely between members.
free trade area
bonded market
common market
customs union
15. Which of the following is the prime reason why Africa has attracted FDI in recent years?
Raw material availability
Growth of the services sector
Complete deregulation of markets
Wave of privatization
16. grants permission to another company in a different country to use its brand name.
When the firm produces products that have a low value-to-weight ratio
When the firm needs tight control over a foreign entity
When the firm has know-how that can be adequately protected by a licensing contract
When a firm's skills and know-how are amenable to licensing
17. Cultural relativism suggests that:
a firm should adopt the ethics of the culture in which it is operating.
the only social responsibility of a firm is to increase profits.
a firm's ethical policies should remain the same in all cultures.
a multinational should follow its home-country cultural practices in all the host-countries where it has operations.
18. Which of the following statements would most likely be made by a supporter of globalization?
Air pollution and toxic runoff problems increase with global economic growth.
Economic growth created by globalization is largely in services, which involves the use of few nonrenewable resources.
Globalization encourages the adoption of uniform and superior standards for combating environmental problems.
Global competition discourages resource-saving technologies, which are costly.
19. The tenet of _____ is that the welfare of society is best served by letting people pursue their own economic self-interest.
communism
anarchism
individualism
socialism
20. Interdependent political, economic, and legal systems of a country make up its: