https://www.coursemerit.com/solution-details/20073/Liberty-University-BUSI-303-exam-1-complete-solutions-correct-answers-A-work

1. Liberty University BUSI 303 exam 1 complete solutions correct answers A+ work
4 different versions
Click the following link
https://www.coursem erit.com/s olution -details/20073/ Liberty -Univ ers ity -BUSI -303-ex am-1-c omplet e-s olutions-c orrect -ans wers-A-work
Verbal communication includes body language
Since 2000 the proportion of the largest economic entities that are corporations has fallen
20 percent
Muhammad’s disciples (i.s. Islamists) believe that sometime during the seventh century AD, the
Angel Gabriel dictated the contents to Muhammad which is viewed as infallible and without error
The dissolution of the Council for Mutual Economic Assistance (CMEA) disrupted many supply
chains was one reason why Russia did not adequately make the transition from a centrally planned
to market economic system
Ownership risk is defined by the Bank for International Settlement (BIS) as, “the risk of loss resulting
from inadequate or failed internal process, people and systems or from external events”
Supporters of protectionism say that by increasing the cost of imported goods through tariffs, the
government instituting the barrier penalizes the sending country as well as the citizens it is trying to
protect
Developing nations typically have a Human Development Index (HDI) of less than 0.3 according to
the Human Development Reports office
The global manager must work to understand the cultures in which he or she does business
A mixed economy is an economic system that allows for the simultaneous operation of publicly and
privately owned enterprises.
The three primary types of global economic systems are centrally planned, market, and market
growth
The Industrial Revolution was characterized by a marked surge in manufacturing techniques that
included mass assembly, electricity, and new forms of propulsion
Muslims are legally required to give one-fortieth of their income to the needy
The Magna Carta Libertatum charter is sometimes credited with stimulating the growth of free trade
during the middle ages
Foreign Direct Investment occurs when organizations become more involved in the global community
by purchasing land or other resources in foreign nations
A trade deficit occurs when a country is exporting more than it is importing
The WTO has endorsed attempts by various organizations to develop legal standards with a special
emphasis on corporate and financial institution laws

2. According to Trompenaar’s model of culture, people in Universalistic cultures share the belief that
general rules, codes, values and standards take precedence over particular needs and claims of
friends and relations
The current account, sometimes called the financial account, is the sum of every nation's gross
income from trade in goods and services.
Hofstede’s fifth dimension of national culture, Long-term Orientation, was derived from a values
inventory suggested by Asian researchers and is reminiscent of the teachings of Confucius
Proper business etiquette is of little concern to the business manager starting a new job in foreign
place
Words have the same meaning across all languages
According to the new trade theory, certain industries should not be modeled using the perfect
competition assumption
Fons Trompenaar believed that cultures generally proved to be indistinguishable from one to the other
An economic policy whereby governments accumulate wealth in the form of gold bullion is referred to
as mercantilism
Geert Hofstede introduced the seven dimensions of culture
The Export-Import Bank is the official export credit agency of the European Union
Embargoes are economic and trade sanctions against target foreign countries, groups, organizations,
and individuals.
The conclusion of World War II marked the beginning of the time period known as American Peace or
Pax Americana.
A multinational corporation is one that delivers services in at least two countries
Communications technologies provide us with the ability to encode our thoughts and purposes clearly.
The WTO is not exclusively about lowering or reducing trade barriers but in some circumstances it
supports maintaining trade barriers
One positive aspect of collectivism is that the differences among individuals are emphasized
The impact of barriers to foreign investment led countries to form an independent organization known
as the World Trade Organization (WTO).
The individualism dimension speaks to the extent that people place their own needs and their family
above everyone else.
Successful FDI decreases employment and the standard of living for nationals in the host country
Globalization is a relatively new paradigm
Paul Krugman developed and published the International Product Life Cycle Theory in
1966
The beliefs of Judaism can be seen in the words of Moses Maimonides who was a Spanish Jew that

3. condensed the beliefs into a concise thirteen Articles of Faith
A competitive advantage occurs when a nation is able to produce more output than any other nation.
The foundational rules in the World Trade Organization (WTO), which originated in GATT, deals with
the rules of trade between nations at a global or near-global level.
Religion is an important influencer of cultures
“Targeted Globalization” explains the phenomenon that the globalization of a product or
service is more likely to succeed when that product or service is adapted specifically to each
locality or culture to which it is marketed
Administrative delays impose waiting periods between the time when the quality of the
product is determined and when a product can actually be sold in the market
The historical development of international trade and investment theory serves as a
framework for understanding global trade patterns and the underlying reason for the growth
of trade between nations
Globalization involves assimilation which is referred to as the blending and merging of
various cultures.
A high GNP score indicates that countries also score high on measures of welfare and life
expectancy
A centrally planned economy most often refers to an economic system that is under
comprehensive control and regulation by a government in accordance with the plan of
economic development
In the “Great Revelation,” Confucius revealed the step by step process by which one attains
self-development
Subsidies are special privileges that governments provide to businesses in order to attract
them to a region or to simply have the required funds to operate successfully
Muslims are legally required to give one-fortieth of their income to the needy
Paul Krugman’s New Trade Theory Model demonstrated that in certain industries,
government protections of an industry prove advantageous
Horizontal integration occurs when a firm expands its business into different products that are
not similar to current lines
Four distinct areas relate to verbal communication are jargon and slang, dialects, humor, and
vocabulary and grammar
The introduction of the Euro has significantly reduced the burdens previously associated with
foreign currency exchange in the European nations

4. NAFTA is a major contributor to continental trade growth between Canada and Mexico by
reducing trade tariffs and restrictions imposed by foreign entities
Gross Domestic Product (GDP) is the total market value of all the goods and services
produced by a nation during a specified period
An ethnocentric multinational corporation (MNC) very carefully considers the cultures of the
countries that it operates in when making business decisions
Oral agreements imply strong commitments in high-context cultures
If foreign ownership decreases faster than domestic ownership, then the country is said to
have capital account surplus
John Locke first proposed the theory of absolute advantage in 1776
Hofstede's fifth dimension of national culture, Long-term Orientation, was
derived from a values inventory suggested by Asian researchers and is
reminiscent of the teachings of Confucius.
The Foreign Corrupt Practices Act makes it illegal to influence foreign officials
through personal payment.
The conclusion of World War II marked the beginning of the time period known
as American Peace or Pax Americana.
Subsidies are special privileges that governments provide to businesses in
order to attract them to a region or to simply have the required funds to
operate successfully.
The Industrial Revolution was characterized by a marked surge in
manufacturing techniques that included mass assembly, electricity, and
new forms of propulsion.
Oral agreements imply strong commitments in high-context cultures.
The three primary types of global economic systems are centrally planned,
market, and market growth.
Four distinct areas relate to verbal communication are jargon and slang,
dialects, humor, and vocabulary and grammar.
Corruption does not concern governments and is solely a business issue.
Paul Krugman developed and published the International Product Life Cycle
Theory in 1966.
Words have the same meaning across all languages.
Bribery helps to fuel poverty, especially when high-level public officials steal
from their nations or mismanage public resources intended to finance their
people's aspirations for a better life.
Horizontal integration occurs when a firm expands its business into different
products that are not similar to current lines.
According to Trompenaar's model of culture, people in Universalistic cultures
share the belief that general rules, codes, values and standards take
precedence over particular needs and claims of friends and relations.`
Education and experience are both necessary components in handling the
complex tasks of managing a global business.
A multinational corporation is one that delivers services in at least two
countries.

5. Successful FDI decreases employment and the standard of living for nationals
in the host country.
The impact of barriers to foreign investment led countries to form an
independent organization known as the World Trade Organization (WTO).
A trade deficit occurs when a country is exporting more than it is importing.
One positive aspect of collectivism is that the differences among individuals
are emphasized.
According to Smith's theory of Absolute Advantage, any domestic resource
that a nation can buy at a lower price than it would cost to produce
domestically should be purchased and not produced.
NAFTA is a major contributor to continental trade growth between Canada and
Mexico by reducing trade tariffs and restrictions imposed by foreign
entities.
The global manager must work to understand the cultures in which he or she
does business.
Labor and production costs are typically lower in less developed nations which
creates a continuous pull for international corporations.
Ownership risk is defined by the Bank for International Settlement (BIS) as,
"the risk of loss resulting from inadequate or failed internal process,
people and systems or from external events".
Muhammad's disciples (i.s. Islamists) believe that sometime during the
seventh century AD, the Angel Gabriel dictated the contents to
Muhammad which is viewed as infallible and without error.
Developing nations typically have a Human Development Index (HDI) of less
than 0.3 according to the Human Development Reports office.
Globalization involves assimilation which is referred to as the blending and
merging of various cultures.
Low context communication is effective in most of the USA.
Since 2000 the proportion of the largest economic entities that are
corporations has fallen 20 percent.
Social responsibility is the discipline of dealing with what is good and bad as
well as with moral duty and obligation.
Fons Trompenaar believed that cultures generally proved to be
indistinguishable from one to the other.
John Locke first proposed the theory of absolute advantage in 1776.
A mixed economy is an economic system that allows for the simultaneous
operation of publicly and privately owned enterprises.
Local content requirements restrict domestic business operations by hindering
imports from reaching a nation or being purchased on the domestic
market.
A tariff is a tax applied to a selected category of imports.
If foreign ownership decreases faster than domestic ownership, then the
country is said to have capital account surplus.
The introduction of the Euro has significantly reduced the burdens previously
associated with foreign currency exchange in the European nations.
Supporters of protectionism say that by increasing the cost of imported goods
through tariffs, the government instituting the barrier penalizes the sending
country as well as the citizens it is trying to protect.
The dissolution of the Council for Mutual Economic Assistance (CMEA)
disrupted many supply chains was one reason why Russia did not

6. adequately make the transition from a centrally planned to market
economic system.
The impact of barriers to foreign investment led countries to form independent
organization known as the World Trade Organization (WTO).
The tree primary types of global economic systems are centrally planned economy,
market economy and market growth economy.
Religion is an important factor in culture around the world.
Education and experience are both necessary components in handling the complex
tasks of managing a global business.
The introduction of the Euro has significantly reduced the burdens previously
associated with foreign currency.
Ownership risk is defined by the Bank for International Settlement (BIS) as, "the risk of
loss resulting from inadequate or failed internal process, people and systems or from
external events".
The individualism dimension speaks to the extent that people place their own needs
and their family above everyone else.
Embargoes are economic and trade sanctions against target foreign countries, groups,
organizations, and individuals.
An ethnocentric multinational corporation (MNC) is one in which the company considers
very carefully the cultures of the countries that it operates in when making business
decisions.
Successful FDI decreases employment and the standard of living for nationals in the
host country.
A tariff is a tax applied to selected categories of imports.
Competitive advantage occurs when a nation is able to produce more of an output than
any other nation.
The difference between civil law and common law is grounded in the methodological
approach to codes and statutes.
If foreign ownership decreases faster than domestic ownership then the country is
said to have capital account surplus.
A centrally planned economy most often refers to an economic system that is under
comprehensive control and regulation by a government in accordance with the plan of
economic development.
One of the major strengths of the U.S. economic model is the "competition is good"
ideology.
The Export-Import Bank is the official export credit agency of the European Union.
NAFTA is a major contributor to continental trade growth between Canada and Mexico
by reducing trade tariffs and restrictions imposed on them by foreign entities.
Globalization involves the blending and merging of various cultures. Therefore, this
involvement is known as assimilation.
The conclusion of the World War II marked the beginning of the time period known as
American Peace-Pax Americana.
Local content requirements place restrictions on domestic business that can hinder
imports from reaching a nation, or being purchased on the domestic market.
Fons Trompenaar believed that culture generally proved to be indistinguishable from
one to the other.
A multinational corporation is one that delivers in at least 1 country.
"Targeted Globalization" explains the phenomenon that the globalization of a product or
service is more likely to succeed when the product or service is adapted specifically to
each locality or culture to which it is marketed.

7. Labor and production cost are typically lower in less developed nations creating a
continual pull for international corporations.
Countries with high GNP, score high on measures of welfare and life expectancy.
Globalization is a relatively new paradigm.
A mixed economy is an economic system that allows for the simultaneous operation of
publicly and privately owned enterprises.
Verbal communication includes body language.
Certain industries should not be modeled using the perfect competition assumption
according to the new trade theory.
The World Trade Organization (WTO), deals with the rules of trade between nations at
a global or near-global level. The foundation for the rules in the WTO originated in the
GATT.
An economic policy whereby governments accumulate wealth in the form of gold
bouillon is mercantilism.
The Foreign Corrupt Practices Act of 1977 makes it illegal to influence foreign officials
through person payment.
Nations have been pouring money into researching and developing new advanced
technologies in an effort to stay competitive in the world market.
The current account, sometimes called the financial account, is the sum of every
nation's gross income from trade in goods and services.
Ethics is doing what feels good regardless of moral duty and obligation.
Geert Hofstede introduced the seven dimensions of Culture.
Low context communication is effective in most of the USA.
The global manager must work to understand the cultures in which he or she does
business.
Proper business etiquette is of little concern to the business manager starting a new job
in a foreign place.
The Industrial Revolution was characterized by a marked surge in manufacturing
techniques that included: mass assembly, electricity, and new forms of propulsion.
The American model has kept unemployment high, increased prices, and creased an
environment that fosters change in how the economy functions.
Corruption does not concern governments and is solely a business issue.
Outsourcing production to foreign firms makes it possible for the domestic firm to
maximize production and efficiency; however, it results in higher product prices for the
consumer.
Words have the same meaning across all languages.
International trade serves as the foundation for the new global economy.
John Locke first proposed the theory of absolute advantage in 1776.
A trade deficit occurs when a country is exporting more than it is importing.
Subsidies are special privileges that governments provide to the businesses in order to
attract them to a region or simply to have funds required to operate successfully.
Administrative delays impose waiting periods between the time of when the quality of
the product is determined and when a product can actually be sold in the market.