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Questions
Q:
Which trait is important for marketing executives involved in international negotiations and technical experts who accompany them?
A) optimism
B) altruism
C) resistance
D) culturally apathy
E) aggressiveness
Q:
The ______________ reports revenues earned and expenses incurred by a business over a period of time.
Q:
Juanita has just started a business and is using her personal car to deliver goods. The use of her car is an example ofA) an explicit cost to the business. B) an implicit cost to the business. C) financial capital. D) interest.
Q:
Global business success is the result of many factors, including
A) standardization rather than customization of negotiation procedures across all cultures.
B) the emergence of the English language as the chief medium of negotiations.
C) increased homogenization of cultures across the world.
D) the availability of large numbers of skillful international negotiators.
E) avoidance of the use of technology in all areas related to business negotiations.
Q:
What is the first step toward initiating efficient and effective international business negotiations?
A) managing preliminaries such as training and location of talks
B) preparing and manipulating negotiation settings
C) selecting an appropriate negotiation team
D) managing the process of negotiations
E) following up on procedures and practices
Q:
The accounting equation can be restated as: Assets - Equity = Liabilities.
Q:
The marginal rate of substitution is theA) rate at which the consumer will give up one good for an additional unit of the other good, such that total satisfaction is constant.B) rate at which the consumer can trade one good for the other in the marketplace.C) change in the quantity of one good that changes the utility received by one unit. D) same thing as the marginal utility of a good.
Q:
Fred, a purchasing manager at a department store in the United States, is engaged in negotiations with a Brazilian supplier. What behavior would indicate that Fred has been making progress in the negotiations with the Brazilians?
A) decreased bargaining by the Brazilians
B) the involvement of Brazilian executives of lower ranks to continue the discussions
C) a noticeable decrease in instances of private conversations among the Brazilians
D) questions by Brazilians that focus primarily on the more general areas of the deal
E) a softening of attitudes and positions by the Brazilians on some of the issues
Q:
Assets removed from the business by the business owner for personal use are called ____________.
Q:
ʺAs an individual consumes more units of a good, her total utility falls because of the law of diminishing marginal utility.ʺ Do you agree or disagree? Explain.
Q:
What do Americans consider to be a signal of progress in a business negotiations with foreigners?
A) absence of questions on specific areas of a deal
B) a hardening of attitudes and positions on some issues
C) a lesser frequency of talk among themselves in their own language
D) higher-level foreigners being included in the discussions
E) decreased bargaining and use of the higher-level and formal channels of communication
Q:
Suppose that the amount of computer printers demanded increases by 20 percent when the price of personal computers falls by 10 percent. The cross price elasticity of demand between computer printers and personal computers isA) 0.5. B) -2.0. C) -0.5. D) 2.0.
Q:
Withdrawals are expenses.
Q:
Which statement reflects the decision-making style of the Americans in business negotiations?
A) A business negotiation is an opportunity to develop a business relationship with the goal of long-term mutual benefit.
B) The economic issues are the context, not the content, of the business negotiation talks.
C) A business negotiation is a problem-solving activity, the best deal for both parties being the solution.
D) Business issues are discussed at once, in no apparent order, and concessions are made on all issues at the end of the discussion.
E) Interpersonal and interorganizational bonds take precedence over the bottom line in business negotiations.
Q:
The accounting equation is: Assets = ___________ + Equity.
Q:
Six months ago, the price of gasoline was $2.20 per gallon. Now, the price is $2.40 per gallon. In response to this price increase, the number of gallons of gasoline purchased has declined by 2 percent. Based on this information, what is the absolute price elasticity of demand for gasoline?A) 4.35 B) 1.20 C) 0.23 D) 0.10
Q:
What is true of the decision-making process with respect to the American and Japanese negotiators?
A) The Western sequential approach and the Eastern holistic approach are found to mix well.
B) Americans often make unnecessary concessions right before agreements are announced by the Japanese.
C) All issues are discussed at once by the Americans, in no apparent order, and concessions are made on all issues at the end of the discussion.
D) American managers find it easy to measure the progress of negotiations with their Japanese counterparts.
E) When negotiating with the Japanese, Americans find that the progress of negotiations is closely linked to the number of issues resolved.
Q:
The marginal cost curve of pollution abatement isA) downward sloping. B) upward sloping.C) horizontal. D) vertical.
Q:
Assets are the resources owned or controlled by a business.
Q:
What is true regarding the decision-making processes in international business negotiations?
A) Asian negotiators prefer to break up a complex, large task into a series of smaller tasks.
B) The American approach to a complex negotiation task is to discuss all issues at once, in no apparent order.
C) American negotiators tend to make larger concessions after agreements are announced.
D) Americans tackle issues such as prices, delivery, and warranty one at a time, with the final agreement being the sum of smaller agreements.
E) The Western sequential approach and the Eastern holistic approach to decision-making are found to complement each other.
Q:
Many argue the poor are getting poorer, at least in a relative sense. Evidence that contradicts this is thatA) household income of the lowest twenty percent of households relative to the highest twenty percent of households has fallen over the last thirty years.B) the official poverty level of income has increased over the years.C) household spending of the lowest twenty percent of households relative to the highest twenty percent of households has held constant over the last thirty years.D) the pretax distribution of income is more equal than the after -tax distribution of income.
Q:
A ___________ occurs when expenses are greater than revenues.
Q:
Which approach is usually adopted by Westerners when faced with a complex negotiation task?
A) dividing the large task into a series of smaller tasks
B) analyzing the task in a holistic manner with foreign and domestic experts
C) discussing all issues at once, in no apparent order
D) making larger than normal concessions in a bid to push the deal through
E) buying time by tackling peripheral issues first, and then tackling the main task
Q:
Liabilities are the owner's claim on assets.
Q:
A monopsonistic employer faces aA) perfectly elastic labor supply curve.B) perfectly inelastic labor supply curve.C) MFC curve that is greater than the wage rate at each quantity of labor.D) MFC curve that is less than the wage rate at each quantity of labor.
Q:
According to foreign negotiators, which negotiation tactic is the most useful when dealing with Americans?
A) offering cutbacks on deals
B) including higher-level executives in talks
C) providing lots of self-disclosures
D) high first-offers, followed immediately with deeply discounted second-offers
E) taking time with the negotiations
Q:
______________ activities involve using resources to research, develop, purchase, produce, distribute, and market products and services.
Q:
The Taft-Hartley Act of 1947 outlawedA) strikes.B) make-work rules and forcing unwilling workers to join a union. C) right-to-work states.D) none of the above.
Q:
In Japanese business organizations, subordinates do not share bad news with their superiors. This lack of internal communications can be attributed to
A) the Japanese emphasis on individualism.
B) the Japanese emphasis on hierarchical relationships.
C) the Japanese emphasis on competition and individualism.
D) the insistence on solving problems at the point of origin and not escalating them.
E) Guanxi, the Japanese practice of personal connections.
Q:
Expenses decrease equity and are the costs of assets or services used to earn revenues.
Q:
An increase in the price of a productA) automatically increases wages.B) raises the firmʹs demand for labor.C) would probably decrease total revenues. D) increases productivity.
Q:
Which statement reflects the American notion of the importance of objectivity?
A) American business is the hotbed of nepotism.
B) Americans place emphasis on economics and performance rather than people.
C) In business, favoritism matters and it is key to a successful negotiation.
D) Americans have little regard for decisions based upon the bottom line.
E) American business is heavily skewed against meritocracy.
Q:
________________ activities involve the acquisition and disposal of resources that an organization uses to acquire and sell its products or services.
Q:
U.S. securities firms recently agreed to pay a record amount of $1.4 billion in settlement charges brought by government regulators. Regulators claimed that firms had abused investors during the market boom of the 1990s. Abuses included analysts tailoring their research reports and ratings on the stocks they covered in order to win more business for their firm. If this settlement causes Wall Street firms to comply with the letter of the law but they violate the spirit of the law, the firms are engaging inA) elimination of conflicts of interest. B) creative response. C) the capture hypothesis. D) deregulation.
Q:
Which group of negotiators was found to have the most aggressive negotiation style?
A) Spaniards
B) Israelis
C) Americans
D) Koreans
E) French
Q:
Spanish negotiators use a high percentage of commands, as demonstrated by which behavior?
A) extensive use of silent periods
B) highest incidence of touching another negotiator
C) greeting callers on the phone with "diga" (speak)
D) shunning eye contact with others
E) greeting others with a "hola" or "bueno"
Q:
Net income occurs when revenues exceed expenses.
Q:
In the Battle of the Sexes, profits are the highest ifA) the two firms choose incompatible product format.B) the two firms choose to adopt one particular product format. C) the two firms do not cooperate on the product format.D) none of the above
Q:
A merger between firms in which one firm purchases an input from the other is called aA) conglomerate merger. B) horizontal merger. C) vertical merger. D) none of the above.
Q:
________________ activities are the means organizations use to pay for resources such as land, building, and equipment.
Q:
Israeli negotiators are most likely to be blamed for the "pushy" stereotype often used by Americans to describe their Israeli counterparts because they
A) interrupt one another more frequently than any other group.
B) use the lowest percentage of self-disclosures.
C) use the highest percentage of promises and recommendations.
D) use the highest percentage of punishments than any other group.
E) use a higher percentage of commands than any other group.
Q:
The negotiation style of the Russians is found to be quite similar in many respects to that of the
A) Germans.
B) Japanese.
C) British.
D) Koreans.
E) Israelis.
Q:
A net loss occurs when revenues exceed expenses.
Q:
The greater the product differentiation between monopolistically competitive firms, A) the lower the barriers to entry.B) the greater the price elasticity of demand. C) the higher the average variable costs.D) the lower the price elasticity of demand.
Q:
Which statement is true about the negotiation behavior of Korean negotiators?
A) They use more silent periods than any other group.
B) They ask the greatest number of questions.
C) They are the most reticent about disclosing information.
D) They use the word no and interrupt more frequently than the Japanese.
E) They use the lowest percentage of aggressive persuasive tactics.
Q:
An audit is _______________ of an organization's accounting systems and records.
Q:
Profits can be maximized by equating MR = MC = Price, A) only in perfectly competitive markets.B) only in monopoly markets.C) only in discriminating monopoly markets.D) only with government price controls.
Q:
Which culture is considered to be the least aggressive, or most polite, in its negotiation behavior?
A) French
B) German
C) Chinese
D) Taiwanese
E) Japanese
Q:
Revenues are increases in equity from a company's earning activities.
Q:
Consider an industry that is in long -run equilibrium. An increase in demand leads to a decrease in the price of the good. We know that this isA) a decreasing cost industry. B) a constant cost industry.C) an increasing cost industry. D) not a competitive industry.
Q:
Which group of negotiators is considered to be the most reticent about giving information about themselves (self-disclosure)?
A) Israelis
B) Canadians
C) Germans
D) Americans
E) Chinese
Q:
__________ is the defining of the ideas, goals and actions of an organization.
Q:
Refer to the above figure. Profits for this firm are negativeA) only for all points less than B.B) only at points B and C.C) for points between B and C.D) for all points less than B and greater than C.
Q:
What is the most likely reason for side conversations among foreign negotiators in their native languages?
A) stalling the negotiations
B) sorting out a translation problem
C) diverting attention from an actual issue
D) sharing secrets
E) gesturing disapproval
Q:
Owner financing refers to resources contributed by creditors or lenders.
Q:
Which of the following is correct?A) AFC = TC/Q - TVC/Q B) AVC = TVC - AFC C) TC = AVC∗Q D) MC = TC - TVC
Q:
What is the most common complaint heard from American managers in terms of the negotiation behavior of foreign clients?
A) the insistence on exchanging business cards to establish the rank of the negotiators
B) the overt emphasis laid on punctuality and the tendency to waste time
C) the lack of feedback, positive as well as negative, regarding the negotiations
D) foreign clients and partners breaking into side conversations in their native languages
E) frequent instances of facial gazing and touching that distract their counterparts
Q:
There are at least three types of partnerships that limit the partners' liability. They are 1)_______________________, 2) ___________________, and 3)______________________.
Q:
The most prestigious stock market in the world is theA) New York Stock Exchange. B) Chicago Mercantile Exchange.C) London Stock Exchange. D) Tokyo Stock Exchange.
Q:
When Sandra was negotiating with Jamal, she looked him in the eye and shook his hand firmly. Jamal felt uncomfortable and didn't entirely trust Sandra after that, although he could not actually articulate why. This is likely because cultural differences in nonverbal behaviors
A) are almost always hidden below our awareness.
B) were not important to Sandra.
C) only apply to social behaviors; business behaviors are universal.
D) are less important than verbal behaviors.
E) were not important to Jamal.
Q:
Investing activities are the acquiring and selling of resources that an organization uses to acquire and sell its products or services.
Q:
Which of the following is not an explicit cost?
A) Taxes
B) Rent
C) Wages
D) Opportunity cost of using an ownerʹs savings.
Q:
On a tour to Australia in 1992, George Bush Sr. flashed the victory sign at the Australian public, with the palm facing inwards, which was considered a rude gesture. This is an example of cultural differences causing problems at the level of
A) thinking processes.
B) values.
C) language.
D) nonverbal behaviors.
E) decision-making processes.
Q:
A disadvantage of a sole proprietorship is the fact that the owner has ___________________.
Q:
The marginal rate of substitution isA) the change in the quantity of one good that just offsets a one unit change in the consumption of another such that the total satisfaction remains constant.B) the additional satisfaction from consuming an additional unit of a good or service.C) positively related to the level of income.D) the set of goods and services that are available to the consumer given his income.
Q:
Four kinds of problems are caused by cultural differences in international business negotiations: language, nonverbal behaviors, thinking and decision-making processes, and
A) communication channels.
B) values.
C) social responsibility.
D) communication style.
E) stereotypes.
Q:
The three major activities of a business are recording, financing, and investing.
Q:
When it comes to international negotiation,
A) regional generalizations very often are not correct.
B) the Japanese tend to be in the middle of the scale on almost every dimension of negotiation style.
C) the negotiation styles of the Koreans and Japanese are the same in every dimension.
D) on almost every dimension of negotiation style considered, the Americans are on or near the end of the scale.
E) Asian negotiation styles tend to be collectively similar across all dimensions.
Q:
What is the relationship between marginal utility and total utility? What happens to total utility as marginal utility declines?
Q:
If a negotiator from another country were to label Spanish negotiators as bulls and associate the Swiss with the image of a lamb, these are examples of
A) national icons.
B) linguistic identifiers.
C) social hierarchy.
D) class distinction.
E) cultural stereotypes.
Q:
In accounting, the rule that requires that assets, services, and liabilities be recorded initially at the cash or cash-equivalent value of what was given up or of the item received is called ______________________________.
Q:
Suppose that when the price of root beer rises 10%, the quantity of pizza demanded falls 20%.This would mean that pizza and root beer areA) substitutes, with a cross price elasticity of 0.5.B) complements, with a cross price elasticity of -0.5. C) substitutes, with a cross price elasticity of -2.0.D) complements, with a cross price elasticity of -2.0.
Q:
Which image is a cultural stereotype that is most likely attributed to American negotiators by foreign business negotiators?
A) cowboy
B) suave, smooth-talker
C) pretentious connoisseur
D) "stiff upper lip"
E) samurai
Q:
Planning activities are the means an organization uses to pay for resources like land, buildings, and equipment to carry out its plans.
Q:
When the price of a soft drink from the campus vending machine was $0.60 per can, 100 cans were sold each day. After the price increased to $0.75 per can, sales dropped to 85 cans per day. Over this range, the absolute price elasticity of demand for soft drinks was approximately equal toA) 0.15. B) 0.60. C) 0.73. D) 1.67.
Q:
In international business, global marketing strategies are almost always implemented through ________ with business partners and customers from foreign countries.
A) telephone conversations
B) face-to-face negotiations
C) video chats
D) mail and courier
E) e-mail
Q:
A primary purpose of ________________ is to make information in financial statements relevant, reliable and comparable.
Q:
Refer to the above figure. Suppose the marginal benefit and the marginal cost curves of pollution abatement are normally shaped. Suppose the equilibrium is for a factory in Los Angeles. What would happen if the same factory were in the middle of Nevada?A) The marginal cost curve (1) would shift to (2) and there would be no difference in the level of abatement.B) The marginal cost curve (2) would shift to the left and there would be less abatement in Nevada.C) The marginal benefit curve (4) would shift to the left and there would be less abatement in Nevada.D) The marginal benefit curve (2) would shift to the right and there would be more abatement in Nevada.
Q:
The Japanese approach to international business negotiations tends to be innovative in spite of their collectivist tendencies.
Q:
Strategic management is the process of determining the right mix of operating activities for the type of organization, its plans, and its markets.