Question 711 pts Airbus competes on the basis of price while selling a standardi

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Question 711 pts

Airbus competes on the basis of price while selling a standardized or homogeneous product. The company is using a ________ strategy.

Question 721 pts

According to the theory of comparative advantage, if the U.S. and Mexico increase their trade with each other, the two countries will experience ________ standards of living.

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Question 731 pts

The nation of North Xi has a ________ currency that cannot be exchanged in a foreign exchange market.

Question 741 pts

Apple's selling iPhones to customers in Africa, Asia, and Europe is an example of the globalization of ________.

Question 751 pts

An American company enters the Mexican market by sharing ownership of a subsidiary firm with a Mexican company. This is an example of a(n) ________.

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Question 761 pts

Localization is the movement toward a more interconnected and interdependent world economy.

Question 771 pts

U.S importers prefer a(n) ________ dollar.

Question 781 pts

All of the following contribute to accelerating globalization EXCEPT ________.

Question 791 pts

A U.S. company exports products to Russia. The prices of the U.S. products in Russia are going up because the value of the dollar has ________ against Russia's currency.

Question 801 pts

Even though the nation of Lambda lost in the arbitration of a WTO trade dispute, Lambda can ignore the result because the WTO has no enforcement power.

Explanation / Answer

Question Answer Remarks Airbus competes on the basis of price while selling a standardized or homogeneous product. The company is using a ________ strategy. global A basic strategy of international business is the global strategy—competing primarily on the basis of price while selling a standardized (or homogeneous) product. Standardized products are basic products that meet universal needs. According to the theory of comparative advantage, if the U.S. and Mexico increase their trade with each other, the two countries will experience ________ standards of living. higher The theory of comparative advantage indicates that countries that participate in international trade will experience higher standards of living because of the greater quantity and variety of higher-quality products offered at lower prices. These results stem from the increased competition associated with more open trade. The nation of North Xi has a ________ currency that cannot be exchanged in a foreign exchange market. nonconvertible currency that can't be exchanged for another currency Apple's selling iPhones to customers in Africa, Asia, and Europe is an example of the globalization of ________. markets The globalization of markets refers to thinking of the economic market as consisting of the entire world. An American company enters the Mexican market by sharing ownership of a subsidiary firm with a Mexican company. This is an example of a(n) ________. joint venture Joint ventures involve shared ownership in a subsidiary firm. International joint venture partners involve an international business teaming up with a local partner in order to enter a foreign market Localization is the movement toward a more interconnected and interdependent world economy FALSE Globalization is the movement toward a more interconnected and interdependent world economy U.S importers prefer a(n) ________ dollar. strong Lesser Cost for import All of the following contribute to accelerating globalization EXCEPT a rise in multinational enterprises Four global business trends are (1) a growing role for developing nations, (2) a rise in non-U.S. foreign direct investment, (3) a rise in non-U.S. multinational enterprises, and (4) increasing democratization. A U.S. company exports products to Russia. The prices of the U.S. products in Russia are going up because the value of the dollar has ________ against Russia's currency. risen Suppose that the value of the dollar rises or gets stronger against the ruble (the currency of Russia). Goods exported from the United States will become more expensive because the Russians will now have to come up with more rubles to purchase each dollar.

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