When Cyprus had a financial crisis, it went to the World Bank, known as the lender of last resort, to bail it out.
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Hofstede's masculinity versus femininity dimension looked at the relationship between gender and work roles and found that inmasculine cultures, sex roles were sharply differentiated, and traditional "masculine values" determined cultural ideals.A British firm that sets up production units in China is accused of releasing untreated chemical waste into water bodies. The manager of the firm defends the firm stating that, factories in China set up by French and American firms also release untreated chemical waste into water bodies. What approach to business ethics is the manager using?naive immoralist_____ recognize that human beings have fundamental rights and privileges that transcend national boundaries and cultures.rights theoriesWhich of the following theories emphasizes the interplay between the proportions in which the factors of production are available in different countries and the proportions in which they are needed for producing particular goods?Heckscher-Ohlin theoryCountry A exports electronic goods to Country B although there are no underlying differences in factor endowments between the two countries. Which of the following theories explains this anomaly?new trade theoryPorter contends that governmentcan influence each of the four components of the diamond either positively or negatively.The commercial aircraft industry can support only a limited number of firms, largely because the existence of established firms would make it difficult to be competitive. This is a basic tenet ofnew trade theoryGrady works at a fast food restaurant. One day he noticed a co-worker giving free food to a friend. He was unsure about what to do. Grady most likely decided to follow the example ofsupervisorThe principle of mercantilism views trade as a(n) _____ about national sovereignty in the EU have been a major impediment to economic integration.falseA currency swap deal enables companies to insure themselves against foreign exchange risk.trueThe efficient market school argues that investing in exchange rate forecasting services would be a waste of money.trueTo minimize the risk of an unanticipated change in exchange rates, a company can protect itself by entering into a forward exchange contracttrueThe agreement reached at Bretton Woods established the International Monetary Fund (IMF) and the World BanktrueThe International Monetary Fund's original function was to provide a pool of money from which members could borrow in the short term.trueThe International Monetary Fund's original function was to provide a pool of money from which members could borrow in the short term.falseWhen the foreign exchange market determines the relative value of a currency, we say that the country is adhering to a _____ regime. A) currency board exchange B) pegged exchange rate C) fixed exchange rate D) floating exchange rateDLoans issued by the IMF A) are conditional loans. B) are unconditional loans. C) include a macroeconomic policy that calls for lower interest rates. D) include a macroeconomic policy that calls for increases in public spending to improve infrastructure in a country.conditional loansAccording to Porter, the way to create superior value is to drive up the cost structure of the business and/or differentiate the product in some way so that consumers value it more.trueOne of the sources of economies of scale is the ability to spread fixed costs over a large volumefalseExporting from a firm's home base is most appropriate when lower-cost locations for manufacturing the product cannot be found abroad.falseby producing its product in a centralized location, licensing limits a firm's ability to realize experience curve and location economies.trueIf a firm's core competence is proprietary technological knowledge, a joint venture is not preferable.falseA joint venture is often politically more acceptable than a wholly owned subsidiary and brings a degree of local knowledge to the subsidiarytrueWhen the firm simultaneously faces both strong cost pressures and strong pressures for local responsiveness, the ideal strategy to follow is the _____ strategy. A) global standardization B) localization C) transnational D) internationaltransnational_____ is advantageous because it avoids the cost of establishing manufacturing operations in the host country and it may help a firm achieve experience curve and location economies. A) Licensing B) Exporting C) Franchising D) A turnkey contractexportingPackaging, which comes in all shapes, sizes, forms, and uses, can be divided into three different types A) primary, secondary, and transit. B) customer, retailer, and distributor. C) primary, secondary, and tertiary. D) first level, second level, and third level.primary, secondary and transitRSA is a bicycle manufacturing company. Which of the following is a make-or-buy decision that the company will have to make? A) Should the company increase its responsiveness toward the retailers? B) What are the products that the company should manufacture? C) Should the company outsource production to a low-cost vendor? D) What should be the pricing strategy for the company's product?Should the company outsource production to a low-cost vendor?____ is often placed near a competitor's headquarters or main operations, near the most demanding customers, or near key suppliers of unique and critically important parts. A) An outpost factory B) A source factory C) A contributor factory D) A lead factoryoutpost factory