SOLVED

81) Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in the agreements made by ________. A) the EU B) NAFTA C) CAFTA D) APEC E) MERCOSUR 82) The management team at Home Help, a consumer products manufacturer, is considering entering several different foreign markets and is in the process of analyzing each potential market’s economic environment. Which of the following measures would best help the management team understand the comparative cost of consumer products in each market? A) gross national product (GNP) B) the Big Mac Index C) the per capita gross domestic product (GDP) D) the standard of living E) gross domestic product (GDP) 83) The population of Djibouti is approximately 460,700. To serve the communication needs of this nation, there is one Internet service provider, two AM radio stations, two FM radio stations, and one television station. There are only 8,000 telephone lines in the whole country. This is a partial description of Djibouti’s ________. A) gross national product (GNP) B) business cycle C) economic infrastructure D) standard of living E) gross domestic product (GDP) 84) Kyrgyzstan is a small, poor, mountainous country with a predominantly agricultural economy. Cotton, wool, and meat are the main agricultural products and exports. Fifty-one percent of the population lives in poverty. Kyrgyzstan is an example of a(n) ________. A) BRIC country B) least developed country (LDC) C) industrializing country D) developed country E) G-8 country 85) In Vin del Mar, Chile, there are a dozen stores specializing in selling the same quality of seafood products on one street. An individual store dare not charge more than the going price without the risk of losing business to the other stores that are selling the fish at a common price. This is an example of what type of market? A) perfect competition B) monopolistic competition C) oligopolistic competition D) a monopoly E) an oligopoly 86) Since the introduction of the iPhone, a booming market for smartphone applications has emerged. It is most accurate to say that this new opportunity was created through changes in the ________ environment. A) political and legal B) technological C) sociocultural D) economic E) competitive 87) Which of the following is the best example of a cultural value? A) Marriage is important. B) Americans should display their patriotism on the Fourth of July. C) People who are not close friends or family should be addressed formally. D) Extended warranties are never worth the money consumers pay for them. E) Professionals should wear business clothes to work. 88) According to one international advertising agency representative, “You can’t show a goldfish in a goldfish bowl in Germany because of the national support of animal rights.” The agency representative is referring to a(n) ________. A) collectivist norm B) individualist norm C) cultural value D) domestic barrier E) ethnocentric attitude 89) Japanese who give currency as gifts will typically wash the money before making the presentation. This is a(n) ________ in a nation of people who place high importance on cleanliness. A) custom B) demographic C) cultural value D) ethnocentric attitude E) extortion 90) U.S. marketing campaigns that stress the desirability of “Made in America” products are most likely to appeal to ________ U.S. consumers. A) ethnocentric B) individualist C) collectivist D) normed E) naturalized