TRUF or FALSE 1. Governments intervene in trade for political, economic and/or c
ID: 344160 • Letter: T
Question
TRUF or FALSE 1. Governments intervene in trade for political, economic and/or cultural reasons. 2. Usi ng the utilitarian approach (the greatest good for the greatest number) may lead to unethical business decisions. 3. Ethical behavior is personal behavior following guidelines for good conduct or morality guilty of bribing a government official to get business from that government. 4. The Foreign Corrupt Practices Act imposes fines and jail terms on any employee found 5. The unconscious reference to one's own cultural values is called the self-reference criterion (SRC). 6. Political economy is the inter-dependent political, legal and economic systems of a country 7. Major possible negatives of globalization include the destruction of local culture and an increase in income inequality 8. We are born with our culture built into us and it changes very little as we grow 9. A criticism of Hofstede's Theory is that all the people he studied were professionals who worked for IBM. 10. When governments need to resolve conflicts between trade, domestic and foreign policy, trade policy usually takes precedence. 11. Prontstage culture may be defined as: usual practices insiders are un-willing to share with outsiders 12. If, in the case we reviewed, the U.S. International Trade Commission grants a quota to the non-rubber footwear industry, everyone in the U.S. would benefit.Explanation / Answer
Answering the first four T/F questions as per Chegg policy.
Answer 1: True
Explanation: Government intervenes in trade for political reason in order not to let any major political group get funding from a company in order to evade taxes (black money). They take care of black marketing (demand-supply equilibrium) and regulate the economy. It also lets all cultural groups have equal representation in trade opportunities as one of the principles of economics says that ‘Trade can make everyone better off’.
Answer 2: False
Explanation: While making business decisions, we need to think about everyone but can resort to making the most (not all) stakeholders happy. It will create a stable system and not lead to any unethical behavior.
Answer 3: True
Explanation: Ethical behavior is always based on personal judgment of conduct or morality by an individual.
Answer 4: True
Explanation: FCPA incorporates mainly two components- Transparency in accounting & bribery of foreign officials to get favors and rewards.
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