36. Mercantilism a emphasized imports over exports. b. favored domestic trade ov

Question

36. Mercantilism a emphasized imports over exports. b. favored domestic trade over trade across borders e was the policy of government to build up gold reserves d. encouraged countries to focus on products they made most effectively e all of the above 37. All of the following are important aspects of culture, except: a. includes beliefs about the physical and spiritual world b. learned e. shared with other members of a society or group. d. changing slowly over time (if at all). e has little effect in the work environment. 38. In a high-context culture: a the individual is more important than the group. b businesses rely totally on contracts. c. the most important information is contained explicitly in the words spoken from one person to another the relationships and status of people are often more important than what one person says to another. d. e none of the above. 39. The total of all annual world trade in 2016 was approximately: a. $14 billion. b. $16 trillion. c. $21 trillion. d. $34 trillion. e. $50 trillion. The Theory of Comparative Advantage: a. was first stated by economist David Ricardo. b. maintains that a country should specialize in a good it produces most efficiently 40. even if other countries are more efficient in all products. c. has been the basis of U.S. trade policy for many years. d. shows how countries can be better off if they follow the advice in b. e. all of the above. 41. According to our class lessons, when a manager is faced with a decision that has ethical consequences, he/she should: a. not take the action if it will violate any hypernorms (core human values). b. not take the action if it violates consistent norms but doesn't violate any hypernorms. c. not take the action if it falls into moral free space. d. take whatever action is considered acceptable by local ethical standards. e. all of the above.

Explanation / Answer

36.

C.

Mercantilism focuses more upon export and less import, that leads to more accumulation of gold and silver reserves in the country.

37.

E

Culture has bigger impact upon the work environment.

38.

D

In this type of culture, the relationship and contexts are very important and are done collectively.

39.

B

40.

A

41.

E

Local ethical standards are equally important and it can be considered before taking the action.

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