QUESTION Compared to a common law system, it is more expensive to draw up contracts in a civil law jurisdiction. Indicate whether the statement is true or false. ANSWER FALSE It is more expensive to draw up contracts in a common law jurisdiction, and resolving contract disputes can be very adversarial in common law […]
QUESTION The term “public action” refers to the exclusive legal rights of authors, composers, playwrights, artists, and publishers to publish and disperse their work as they see fit. Indicate whether the statement is true or false. ANSWER FALSE Copyrights are the exclusive legal rights of authors, composers, playwrights, artists, and publishers to publish and […]
QUESTION Liability laws are typically the least extensive in highly developed nations. Indicate whether the statement is true or false. ANSWER FALSE Liability laws are typically the least extensive in less developed nations.
QUESTION When product safety laws are tougher in a firm’s home country than in a foreign country, the ethical thing to do is to adhere to home-country standards. Indicate whether the statement is true or false. ANSWER TRUE When product safety laws are tougher in a firm’s home country than in a foreign country […]
QUESTION The benefits, costs, and risks associated with doing business in a country are independent of that country’s political, economic, and legal systems. Indicate whether the statement is true or false. ANSWER FALSE The benefits, costs, and risks associated with doing business in a country are a function of that country’s political, economic, and […]
QUESTION Which of the following statements is true about political systems? A. The political system of a country is independent of its economic and legal systems. B. The political system of a country is of no importance to international business. C. It is not possible to have democratic societies that emphasize a mix of collectivism […]
QUESTION Free trade alone, some argue, is a necessary but not sufficient prerequisite to help the world’s poorest countries bootstrap themselves out of poverty. They also recommend: A. a highly regulated command economy. B. weaker property rights laws. C. weaker labor regulations. D. large-scale debt relief. E. rapid expansion in population. ANSWER D Free […]
QUESTION The governments of China, Vietnam, and Laos are communist in name only because those nations have adopted wide-ranging, market-based economic reforms. Indicate whether the statement is true or false. ANSWER TRUE In many respects, the governments of China, Vietnam, and Laos are communist in name only because those nations have adopted wide-ranging, market-based […]
QUESTION The minimum that a firm has to do to engage in international business is to: A. export or import products from other countries. B. invest directly in operations in another country. C. establish joint ventures or strategic alliances with companies in other countries. D. export low-wage manufacturing jobs to companies in other countries. E. […]
QUESTION In a pure command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold are all dictated by the interaction of demand and supply. Indicate whether the statement is true or false. ANSWER FALSE In a pure command economy, […]
