<p>BA 3301 Chapter 5 9/15/2014</p><p>1. What is Job Outsourcing? a. Importing products b. Sending U.S. jobs abroad c. Exporting products d. Creating more jobs domestically</p><p>2. GDP stands for: a. Great Durability Product b. Gross Domestic Product c. Growing Domestic Production d. Ground Dynamic Packaging</p><p>3. A Multinational Company a. Sells products domestically b. Is involved with international trade c. Imports and exports goods d. Both b & c</p><p>4. Tariffs do all of the following accept a. Reduce the profits of relevant firms b. Raises prices of imports c. Helps domestic firms compete with foreign ones d. Sets a limit on the amount of a product that can enter the country</p><p>5. Which describes a trade agreement? a. Several countries work together to form a common trade area b. A law requiring a company to sell foreign profit to a control agency c. An agreement to stimulate international trade d. An exclusion of products from certain companies or countries.</p><p>6. The North American Free Trade Agreement (NAFTA) includes all EXCEPT… a. Canada b. The U.S. c. Mexico d. China</p><p>7. What does the World Bank do? a. Discourages world trade b. Offers loans and financial advice to developing nations c. Funds the U.N. d. Manages exchange rates</p><p>8. What does it mean when a company exports goods? a. Buying goods from other countries b. Selling domestic goods to other countries c. Selling cheaper goods BA 3301 Chapter 5 9/15/2014</p><p> d. Buying cheaper goods</p><p>9. Licensing does all of the following EXCEPT… a. Allows another firm to use it’s patents b. Helps a firm move into the global market c. Gives up the rights to their copyrights d. Makes money through royalty fees</p><p>10. What is NOT a reason to have Direct Investment? a. Great potential profits b. Having trouble acquiring resources domestically c. Having trouble transporting a good internationally d. Successful contract manufacturing and joint ventures</p><p>11. In Global Marketing, what is the biggest reason for failing products? a. Culture b. Product c. Placement d. Advertisements</p><p>12. What is a key in the Global Marketing Strategy? a. Promotion must remain the exact same b. Promotion must adapt to culture c. Placement must be international d. Placement must be domestic </p><p>13. What are three obstacles when promoting in a global market? a. Language barriers, translation errors and cultural differences b. Competition, cultural differences, and entering the market c. Translation errors, Competition, and Environmental concerns d. Language barriers, Environmental concerns, and Competition</p><p>14. What does product invention mean? a. Creating a new product for a market b. Changing an existing product c. Both d. None of the Above </p><p>15. The price of one's country currency in terms of another country's currency is: a. Floating exchange rate b. Price exchange c. Exchange Rate d. Country exchange</p><p>16. Countertrade can be described as? a. Challenging existing trades BA 3301 Chapter 5 9/15/2014</p><p> b. Swapping goods-for-goods c. Trading with multiple businesses d. Trading globally </p><p>17. A ______is a publicly accessible web page that functions as an interactive journal, where readers can post comments on the author’s entries. a. blog b. forum c. survey d. video blog </p><p>18. What component is important brands as they expand internationally? a. News articles b Commercials c. Social Media d. Radio announcements </p><p>19. Uniqlo utilized which social media platform for their campaign? a. Facebook b. Pinterest c. Twitter d. Google+ </p><p>20. The sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter is known as what? a. Dumping b. Throwing c. Exchange d. Crossing </p><p>BA 3301 Chapter 5 9/15/2014</p><p>Answer Key: 1. B 2. B 3. D 4. D 5. C 6. D 7. B 8. B 9. C 10. D 11. A 12. B 13. A 14. C 15. C 16. B 17. A 18. C 19. B 20. A</p>