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Q:
In eastern European countries, compensation packages typically involve a substantially greater emphasis on performance-based incentives than in the United States.
Q:
Net Income:
A.Decreases equity.
B.Represents the amount of assets owners put into a business.
C.Equals assets minus liabilities.
D.Is the excess of revenues over expenses.
E.Represents owners' claims against assets.
Q:
Which of the following would tell us that resources are not flowing to their highest valued uses?A) Short-run economic profits B) Short-run economic lossesC) Long-run economic profits D) Some firms are just breaking even.
Q:
Japanese sales representatives are motivated more by the social pressure of their peers than by the prospect of making more money individually.
Q:
An example of an investing activity is:
A.Paying wages of employees.
B.Withdrawals by the owner.
C.Purchase of land.
D.Selling inventory.
E.Contribution from owner.
Q:
Refer to the above table. The table represents information on the costs for Ajax Corporation.Ajax operates in a perfectly competitive market and the price of the product is $9. What will be the value of total revenue when quantity sold equals 3?A) $27 B) $21 C) $3 D) $9
Q:
Social recognition is a more important motivating factor for an American sales representative compared to a Japanese salesperson.
Q:
The major activities of a business include:
A.Operating.
B.Financing.
C.Investing.
D.All of these.
Q:
Use the above figure. The TFC at output level 10 isA) $10. B) $3. C) $2. D) $1.
Q:
Marketing is a business function requiring high motivation regardless of the location of the practitioner.
Q:
Operating activities:
A.Are the means organizations use to pay for resources like land, buildings and equipment.
B.Involve using resources to research, develop, purchase, produce, distribute and market products and services.
C.Involve acquiring and disposing of resources that a business uses to acquire and sell its products or services.
D.Are also called asset management.
E.Are also called strategic management.
Q:
If you want to vote for the management of the corporation, you should buyA) common stock. B) preferred stock.C) bonds. D) either common stock or preferred stock.
Q:
Training for expatriates focuses on the company, its products, technical information, and selling methods, while that for local personnel focuses on customs and foreign sales problems.
Q:
Planning activities:
A.Are the means organizations use to pay for resources.
B.Involve the acquiring and disposing of resources that an organization uses to acquire and sell its products or services.
C.Involve defining the ideas, goals, and actions of an organization.
D.Are the carrying out of an organization's plans.
E.Involve using resources to research, develop, purchase, produce, and market products and services.
Q:
The most commonly accepted objective for a firm isA) to stay in business at all cost. B) to maximize total revenue.C) to maximize economic profit. D) to minimize the variable cost outlay.
Q:
In the context of international sales management, managers' cultures affect their personnel decisions.
Q:
An example of an operating activity is:
A.Paying wages.
B.Purchasing office equipment.
C.Borrowing money from a bank.
D.Selling stock.
E.Paying off a loan.
Q:
Indifference curvesA) are vertical. B) are horizontal.C) slope upward. D) slope downward.
Q:
The traits that make for successful sales representatives in the United States are the same as those that are important in other countries as well.
Q:
An example of a financing activity is:
A.Buying office supplies.
B.Obtaining a long-term loan.
C.Buying office equipment.
D.Selling inventory.
E.Buying land.
Q:
Which of the following statements is not true about marginal utility when total utility is at its maximum point?A) Marginal utility is zero.B) Marginal utility is decreasing.C) A rational consumer will not consume additional units beyond this point.D) Marginal utility is undefined.
Q:
An international salesperson can be hampered by flexibility when working in a foreign country or in the home country.
Q:
If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000. At the time of the sale, assume that the seller still owed $30,000 to TrustOne Bank on the land that was purchased for $85,000. Immediately after the sale, the seller paid off the loan to TrustOne Bank. What is the effect of the sale and the payoff of the loan on the accounting equation?
A.Assets increase $52,000; owner's equity increases $22,000; liabilities decrease $30,000
B.Assets increase $52,000; owner's equity increases $30,000; liabilities decrease $30,000
C.Assets increase $22,000; owner's equity increases $52,000; liabilities decrease $30,000
D.Assets decrease $30,000; owner's equity decreases $30,000; liabilities decrease $30,000
E.Assets decrease $55,000; owner's equity decreases $55,000; liabilities decrease $30,000
Q:
Other things being equal, the longer a price change persists, A) the less is the elasticity of demand.B) the less chance a consumer will be able to adjust. C) the more the consumer will be willing to pay.D) the greater is the elasticity of demand.
Q:
Though maturity and emotional stability are essential, the transnational manager is rarely expected to have knowledge of many subjects, either on or off the job.
Q:
A goodʹs price elasticity of demand can be calculated by using the formula ofA) percentage change in price divided by percentage change in quantity demanded. B) percentage change in quantity demanded divided by percentage change in price. C) percentage change in price divided by percentage change in income.D) absolute change in quantity demanded divided by absolute change in price.
Q:
For an American company, one of the disadvantages of recruiting a U.S. home-country national for a foreign sales assignment is the cost of double taxation.
Q:
The marginal benefit from pollution abatement
A) increases as pollution abatement increases because people learn to want an even cleaner environment as the environment gets cleaner.
B) decreases as pollution abatement increases because of the law of diminishing marginal product.
C) is constant as pollution abatement increases because pollution abatement is valued for its own sake and not for the utility it provides.
D) decreases as pollution abatement increases because of the law of diminishing marginal utility.
Q:
In relationship-oriented cultures, sales representatives tend to be on the bottom rung of the social ladder.
Q:
The future value of an ________________ annuity is the accumulated value of each annuity payment with interest as of the date of the final payment.
Q:
The main disadvantage of hiring local nationals for an international sales force is the tendency of headquarters personnel to ignore their advice.
Q:
Which of the following statements about the Supplemental Security Income (SSI) program is FALSE?A) It is designed to establish nationwide minimum incomes for the aged, the blind, and the disabledB) Benefits are based on need.C) Recipients who receive benefit payments under Social Security are also eligible for SSI. D) It covers children and individuals with mental disabilities, including drug addicts and alcoholics.
Q:
Local salespeople are better able to lead a company through the maze of unfamiliar distribution systems and referral networks of a foreign country.
Q:
An _____________ is a series of equal payments occurring at equal intervals.
Q:
Refer to the above figure. The monopsonistic exploitation isA) W2-W5. B) W1-W5. C) W2-W4. D) W2-W3.
Q:
With advances in communications technologies, virtual expatriates find it easy to maintain close contact with subordinates and customers.
Q:
To calculate present value of an amount, two factors are required: __________________ and ___________________.
Q:
Which of the following types of unions did the CIO promote?A) Craft unions B) Public sector unionsC) Industrial unions D) Military unions
Q:
Since expatriates are not locals, they often have a negative effect on the prestige of the company and its product line in the eyes of foreign customers.
Q:
The interest rate is also called the __________________ rate.
Q:
All of the following statements regarding the marginal revenue product (MRP) curve and the demand for labor are true EXCEPTA) an individual firmʹs demand for labor is its MRP curve.B) under conditions of perfect competition, MRP equals marginal physical product multiplied by the productʹs price.C) an increase in the market demand for a given product decreases the productʹs price. D) the demand for labor is a derived demand.
Q:
A chief disadvantage of an expatriate sales force is the high cost for a company.
Q:
_____________ is a borrower's payment to the owner of an asset for its use.
Q:
Suppose technical change makes it cheaper for cable television suppliers to supply their service.The capture theory would predict that the regulators wouldA) allow the firms to capture the savings and would lower price only if the firms asked them to.B) force the firms to pass the savings on to consumers in the form of lower prices.C) force the firms to pass the savings on to consumers in the form of better service.D) force the firms to pass some of the savings on to consumers and permit them to keep some of the savings for themselves.
Q:
Only a limited number of American high-caliber sales personnel are willing to live abroad for extended periods of time as expatriates.
Q:
Present Value of 1 Future Value of 1 Present Value of an Annuity of 1 Future Value of an Annuity of 1 A company is setting up a sinking fund to pay off $8,654,000 in bonds that are due in 7 years. The fund will earn 7% interest, and the company intends to put away a series of equal year-end amounts for 7 years. What is the amount of the annual deposits that the company must make?
Q:
Peopleʹs willingness to buy the PC or Mac format of computer software depends on how popular the software format is among other consumers. This is an example ofA) a cartel. B) an opportunity cost.C) a network effect. D) the prisonersʹ dilemma.
Q:
For selling in relationship-oriented countries, a sales force consisting of American expatriates proves to be most efficient.
Q:
Which of the following statements is INCORRECT regarding the model for information products?A) Average total costs slope downward, because average variable cost is constant, average fixed cost slopes downward.B) The firm maximizes profit by setting the price of its product equal to marginal cost. C) Marginal cost equals average variable cost.D) In the long run, accounting profit is positive.
Q:
The first step in managing a sales force is making a decision regarding its design.
Q:
The role of public relations is to create good relationships with the popular press and other media to help companies communicate messages to their publics.
Q:
Firms in a monopolistically competitive market will advertise because
A) they want to differentiate their products.
B) they want to increase the elasticity of the demand curve.
C) of the significant differences in their product over their competitors.
D) the elasticity for their product is inelastic.
Q:
In the above figure, marginal cost and marginal revenue are equal at outputA) Q5. B) Q1. C) Q3. D) Q2.
Q:
While developing an international advertisement campaign, the last step of the process is executing the campaign.
Q:
Of all the elements of the marketing mix, decisions involving advertising are those most often affected by cultural differences among country markets.
Q:
Refer to the above figure. Which panel represents the long-run supply curve for a decreasing cost industry?A) Panel A. B) Panel B. C) Panel C. D) Panel D.
Q:
Sales promotions constitute the major portion of the promotional effort in rural and less accessible parts of a market.
Q:
Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $9. What does total revenue equal when quantity equals 4?A) $4 B) $9 C) $30 D) $36
Q:
Sales promotions are long-term IMC efforts directed to the consumer or retailer.
Q:
Which equation is used by a manager when considering total cost?A) total costs (TC) = consumption (C) + investment (I) + government (G) B) total costs (TC) = average fixed costs (AFC) + number of workersC) total costs (TC) = average total costs (ATC)D) total costs (TC) = total fixed costs (TFC) + total variable costs (TVC)
Q:
Contests, sweepstakes, and sponsorship of special events such as concerts are techniques used for maintaining and improving public relations.
Q:
A legal claim entitling the owner of the claim to fixed annual payments and a lump -sum payment is called a(n)A) equity share. B) bond. C) stock. D) debit.
Q:
Sales promotions are marketing activities that stimulate consumer purchases and improve retailer or middlemen effectiveness and cooperation.
Q:
Economists assume that the goal of a firm is toA) maximize economic profits. B) sell as many units as possible.C) maximize gross revenues. D) be the largest firm in its industry.
Q:
For most companies, trade shows and direct selling are the major components in the marketing communications mix.
Q:
Which of the following is NOT true about indifference curves?A) Indifference curves slope downward.B) Indifference curves show equally preferred combinations of two goods.C) Indifference curves are not straight lines because the marginal rate of substitution falls. D) Indifference curves shift when prices change.
Q:
How might social media be used as a marketing tool? What do international advertisers need to do to take advantage of this medium?
Q:
Refer to the above figures. Amyʹs total utility for chocolate chip cookies reaches a maximum at 4 cookies. Which panel best represents marginal utility?A) Panel A B) Panel B C) Panel C D) Panel D
Q:
Explain the significance of radio and television in international advertising. How has this changed over time?
Q:
The absolute price elasticity of demand for a product that has many good substitutes is probablyA) less than 1. B) greater than 1. C) equal to 1. D) infinity.
Q:
In an international advertising process, what four factors must be considered by an advertiser while selecting a medium? Describe them and give an example.
Q:
The price elasticity of demand measuresA) the consumersʹ sensitivity to a price change. B) the producersʹ sensitivity to a price change.C) how much the market price changes in response to a change in demand. D) how much the demand changes in response to a change in income.
Q:
How does cultural diversity influence the IMC process? Give examples.
Q:
In general, we would expect the marginal cost of pollution abatement to beA) zero.B) decreasing. C) increasing. D) constant.
Q:
Language is one of the major barriers to effective communication through advertising. Explain with an example.
Q:
Which of the following statements about Social Security is FALSE?A) Social Security is an intergenerational transfer where the benefits paid are only roughly related to past earnings.B) Over 90 percent of all employed workers in the United States are covered by Social Security.C) Benefit payments under Social Security are based on the recipientʹs need.D) Benefit payments under Social Security redistribute income from young to old.
Q:
The encoding step has many factors that can affect the interpretation of the message. Explain with an example.
Q:
Refer to the above figure. The wage rate under perfect competition isA) W2. B) W3. C) W4. D) W5.
Q:
Describe the seven essential elements of the international communications process that affect the accuracy of the message.
Q:
Explain the concept of the future value of an annuity.