Global Business 3rd Edition Peng Test Bank

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KEY Bloom s Knowledge, 9 Disabling formal institutes does not affect transaction costs. ANS F PTS 1 DIF Difficulty Easy,REF p 37 OBJ LO 2 2 NAT BUSPROG Analytic. KEY Bloom s Knowledge,10 Opportunism increases transaction costs. ANS T PTS 1 DIF Difficulty Moderate,REF p 38 OBJ LO 2 2 NAT BUSPROG Analytic. KEY Bloom s Comprehension, 11 Transitional economies have static institutions.
ANS F PTS 1 DIF Difficulty Moderate,REF p 38 OBJ LO 2 2 NAT BUSPROG Analytic. KEY Bloom s Comprehension, 12 According to the institution based view managers and firms make choices outside institutional. constraints,ANS F PTS 1 DIF Difficulty Easy,REF p 39 OBJ LO 2 3 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 13 Proposition 1 of the institution based view specifically concerns bounded rationality. ANS T PTS 1 DIF Difficulty Easy,REF p 39 OBJ LO 2 3 NAT BUSPROG Diversity.
KEY Bloom s Knowledge, 14 Economic systems are examples of formal institutions. ANS T PTS 1 DIF Difficulty Easy,REF p 40 OBJ LO 2 3 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 15 Right wing totalitarianism refers to the monopolization of power in the hands of a communist party. ANS F PTS 1 DIF Difficulty Easy,REF p 41 OBJ LO 2 4 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 16 Theocratic totalitarianism refers to the monopolization of political power in the hands of one religious.
ANS T PTS 1 DIF Difficulty Easy,REF p 41 OBJ LO 2 4 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 17 Totalitarian countries have less political risk than democratic ones. ANS F PTS 1 DIF Difficulty Easy,REF p 41 OBJ LO 2 4 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 18 Firms operating in democracies never confront political risk. ANS F PTS 1 DIF Difficulty Easy,REF p 41 OBJ LO 2 4 NAT BUSPROG Analytic.
KEY Bloom s Knowledge, 19 Civil law uses comprehensive statutes and codes as a primary means to form legal judgments. ANS T PTS 1 DIF Difficulty Easy,REF p 43 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 20 The common law tradition is mostly spread in non English speaking countries. ANS F PTS 1 DIF Difficulty Easy,REF p 43 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 21 Contracts in civil law countries tend to be long and detailed compared to contracts in common law.
ANS F PTS 1 DIF Difficulty Easy,REF p 44 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 22 Islamic law is the only surviving example of a theocratic legal system that is formally practiced by. some existing governments,ANS T PTS 1 DIF Difficulty Easy. REF p 44 OBJ LO 2 5 NAT BUSPROG Analytic,KEY Bloom s Knowledge. 23 In the United States only 1 per cent of the land is formally registered. ANS F PTS 1 DIF Difficulty Easy,REF p 45 OBJ LO 2 5 NAT BUSPROG Analytic.
KEY Bloom s Knowledge, 24 Patents are exclusive rights of firms to use specific names and brands. ANS F PTS 1 DIF Difficulty Easy,REF p 45 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 25 Trademarks are legal rights awarded by government authorities to inventors of new products or. ANS F PTS 1 DIF Difficulty Easy,REF p 46 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 26 Adopting the Paris Convention is required in order to become a signatory country to the WTO s.
Agreement on Trade Related Aspects of Intellectual Property Rights. ANS T PTS 1 DIF Difficulty Easy,REF p 46 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 27 Intellectual property rights are enforced though the informal institution system. ANS F PTS 1 DIF Difficulty Moderate,REF p 46 OBJ LO 2 6 NAT BUSPROG Communication. KEY Bloom s Comprehension, 28 A copyright is an example of an intellectual property. ANS T PTS 1 DIF Difficulty Easy,REF p 46 OBJ LO 2 5 NAT BUSPROG Analytic.
KEY Bloom s Knowledge, 29 In a pure market economy the government only performs functions that the private sector cannot do. ANS T PTS 1 DIF Difficulty Easy,REF p 47 OBJ LO 2 6 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 30 In a command economy all factors of production should be government owned or state owned. ANS T PTS 1 DIF Difficulty Easy,REF p 47 OBJ LO 2 6 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 31 A mixed economy has elements of both a market economy and a command economy.
ANS T PTS 1 DIF Difficulty Easy,REF p 47 OBJ LO 2 6 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 32 All Western countries practice the absolute laissez faire philosophy in trade. ANS F PTS 1 DIF Difficulty Easy,REF p 47 OBJ LO 2 6 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 33 The cultural school of thought in economic development suggests that rich countries tend to be. endowed with natural resources,ANS F PTS 1 DIF Difficulty Easy.
REF p 48 OBJ LO 2 7 NAT BUSPROG Analytic,KEY Bloom s Knowledge. 34 In private ownership liquidation of a firm is forced by competition. ANS T PTS 1 DIF Difficulty Moderate,REF p 50 OBJ LO 2 7 NAT BUSPROG Analytic. KEY Bloom s Comprehension, 35 The Washington Consensus emphasizes using government intervention over state ownership in. ANS F PTS 1 DIF Difficulty Easy,REF p 52 OBJ LO 2 7 NAT BUSPROG Analytic. KEY Bloom s Knowledge,MULTIPLE CHOICE, 1 The main supportive pillars of the informal institutions are.
a normative and cognitive,b regulatory and normative. c regulatory normative and cognitive,d cognitive and regulatory. ANS A PTS 1 DIF Difficulty Easy,REF p 35 OBJ LO 2 1 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 2 In which of the following ways do formal institutions regulate trade. a By inducing uncodified ethical beliefs into society. b By putting faith in individuals to expose perceived wrong doings. c By allowing the cultural beliefs of a society to dictate the terms of trade. d By imposing laws that make certain trades unacceptable. ANS D PTS 1 DIF Difficulty Moderate,REF p 35 OBJ LO 2 1 NAT BUSPROG Analytic.
KEY Bloom s Comprehension,3 are represented by laws regulations and rules. a Normative institutions,b Sociocultural institutions. c Cognitive institutions,d Formal institutions,ANS D PTS 1 DIF Difficulty Easy. REF p 35 OBJ LO 2 1 NAT BUSPROG Analytic,KEY Bloom s Knowledge. 4 The refers to the coercive power of governments,a normative pillar.
b regulatory pillar,c cognitive pillar,d informal pillar. ANS B PTS 1 DIF Difficulty Easy,REF p 35 OBJ LO 2 1 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 5 Which of the following would be considered an example of informal institutions. b Regulations,ANS C PTS 1 DIF Difficulty Easy,REF p 35 OBJ LO 2 1 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 6 Which of the following would be considered an example of formal institutions.
c Cultures,ANS A PTS 1 DIF Difficulty Easy,REF p 35 OBJ LO 2 1 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 7 The refers to the internalized taken for granted values and beliefs that guide individual and firm. a normative pillar,b regulatory pillar,c cognitive pillar. d formal pillar,ANS C PTS 1 DIF Difficulty Easy,REF p 36 OBJ LO 2 1 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 8 In which of the following examples can the role of the cognitive pillar be identified.
a A firm being exposed after one of its employees turned whistleblower. b A firm being punished for corporate espionage by the courts. c A firm not being able to sell a certain product in a country due to the prevalent cultural. d A firm outsourcing its jobs,ANS A PTS 1 DIF Difficulty Easy. REF p 36 OBJ LO 2 1 NAT BUSPROG Analytic,KEY Bloom s Knowledge. 9 The key role of institutions is to in business transactions. a reduce uncertainty,b increase normative limits,c increase opportunism. d reduce resource costs,ANS A PTS 1 DIF Difficulty Easy. REF p 36 OBJ LO 2 2 NAT BUSPROG Analytic,KEY Bloom s Knowledge.
10 is a long standing legal doctrine that excuses firms from living up to the terms of a deal in the. event of natural disasters or other calamities,a De minimis. b Nolo contendere,c Force majeure,d Travaux pr paratoires. ANS C PTS 1 DIF Difficulty Easy,REF p 36 OBJ LO 2 2 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 11 Which of the following would be an example of a force majeure defense for a seller. a If the seller decides to stop delivery out of fear of nonpayment. b If the customer has already accepted nonconforming goods. c If the goods to be delivered are destroyed in an earthquake. d If the seller places warranties on the goods,ANS C PTS 1 DIF Difficulty Moderate.
REF p 36 OBJ LO 2 2 NAT BUSPROG Analytic,KEY Bloom s Comprehension. 12 The view focuses on the dynamic interactions between the laws cultures and ethics of a country. and a firm and considers firm behaviors as the outcome of such an interaction. a internal strength based,b competency based,c institution based. d resource based,ANS C PTS 1 DIF Difficulty Easy,REF p 38 OBJ LO 2 3 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 13 Which of the following is a proposition of the institution based view. a Decisions based on bounded rationality should be avoided. b Dependency on informal constraints will always increase the political risks associated with. c When formal constraints are unclear informal constraints will play a larger role in. reducing uncertainty and providing constancy to managers and firms. d Informal constraints always increases transaction costs for the firm. ANS C PTS 1 DIF Difficulty Moderate,REF p 39 OBJ LO 2 3 NAT BUSPROG Analytic.
KEY Bloom s Knowledge, 14 A fundamental aspect of is that it effectively conducts global business by providing an. individual the right to freedom of expression and organization. a communist totalitarianism,b right wing totalitarianism. c democracy,d theocracy,ANS C PTS 1 DIF Difficulty Easy. REF p 40 OBJ LO 2 4 NAT BUSPROG Analytic,KEY Bloom s Knowledge. 15 Which of the following is a feature of right wing totalitarianism. a It does not curtail an individual s right to freedom of expression and organization. b It concentrates power in the hands of one or more religious groups. c It bases its economic policies on communist ideologies. d It does not allow room for political freedom,ANS D PTS 1 DIF Difficulty Easy.
REF p 41 OBJ LO 2 4 NAT BUSPROG Analytic,KEY Bloom s Knowledge. 16 Which of the following is true of the civil law system. a It is the most widely distributed legal system around the world. b It originated in England and was then spread as the legal system for all its former. c It is shaped by precedents and traditions from previous judicial decisions. d It allows judges to interpret the law before making judicial decisions. ANS A PTS 1 DIF Difficulty Easy,REF p 43 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 17 Which of the following is true of the common law system. a It is the oldest legal system in the world, b It has spread to all English speaking countries and their former colonies. c It bases its legal judgment primarily on the dominant religion of the country. d It does not allow interpretations of the law by judges. ANS B PTS 1 DIF Difficulty Easy,REF p 43 OBJ LO 2 5 NAT BUSPROG Analytic.
KEY Bloom s Knowledge, 18 refers to a legal system based on religious teachings. a Common law,b Theocratic law,c Civil law,d Right wing totalitarian law. ANS B PTS 1 DIF Difficulty Easy,REF p 44 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 19 Intellectual property specifically refers to property. a tangible,b intangible,d moveable,ANS B PTS 1 DIF Difficulty Easy.
REF p 45 OBJ LO 2 5 NAT BUSPROG Analytic,KEY Bloom s Knowledge. 20 Which of the following is an example of an intellectual property. b Scientist s laboratory,ANS D PTS 1 DIF Difficulty Easy. REF p 45 OBJ LO 2 5 NAT BUSPROG Analytic,KEY Bloom s Knowledge. 21 are legal rights awarded by government authorities to inventors of new products. a Copyrights,c Trade secrets,d Trade marks,ANS B PTS 1 DIF Difficulty Easy. REF p 45 OBJ LO 2 5 NAT BUSPROG Analytic,KEY Bloom s Comprehension.
22 are exclusive legal rights of authors and publishers to publish and disseminate their work. b Trademarks,c Copyrights,d Trade secrets,ANS C PTS 1 DIF Difficulty Easy. REF p 46 OBJ LO 2 5 NAT BUSPROG Analytic,KEY Bloom s Knowledge. 23 are exclusive legal rights of firms to use specific names brands and designs to differentiate. their products from others,b Trademarks,c Copyrights. d Trade secrets,ANS B PTS 1 DIF Difficulty Easy,REF p 46 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge, 24 Which of the following would be considered an example of intellectual property rights.
a Rights associated with ownership of vehicles,b Rights associated with ownership of trademarks. c Rights associated with ownership of buildings, d Rights associated with ownership of business contracts. ANS B PTS 1 DIF Difficulty Easy,REF p 46 OBJ LO 2 5 NAT BUSPROG Analytic. KEY Bloom s Knowledge,25 The TRIPS system was designed to. a create IP rights that adhered to the norms of individual countries. b force firms to enforce IP rights through an informal system. c make sure that firms follow theocratic laws, d force firms to innovate while strictly adhering to IPR guidelines.
Chapter 2 Understanding Formal Institutions Politics Laws and Economics TRUE FALSE 1 Institutional framework only pertains to a firm s behavior ANS F PTS 1 DIF Difficulty Easy REF p 35 OBJ LO 2 1 NAT BUSPROG Analytic

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