question

Burger King decided to add breakfast to its hours of operation in order to increase its customers. This was an attempt to improve the organization's:

answer

Effectiveness

question

Laura runs a sales and expense report at the end of each work day? Which management function is she performing?

answer

Controlling

question

John wants his salespeople to use Salesforce.com to improve their sales? Which challenge is he trying to manage?

answer

Information Technology

question

Donielle supervises the food assembly line workers. What type of manager is she?

answer

First-line manager

question

CEO, Gary Kelly sets the direction and strategy for Southwest Airlines. What type of managerial role is he performing?

answer

Interpersonal

question

George is developing a new employee schedule for his lawncare service due to the increase in business during the summer. While doing this, George is involved in organizing.

answer

True

question

Tom, a restaurant general manager, carefully watches his restaurant costs by reusing some items that in the past were immediately thrown away. Tom is an example of a(n) _____ manager.

answer

Efficient

question

New York Times columnist Thomas Friedman noted that globalization has leveled the competitive playing fields between industrial and emerging-market countries. This phenomenon proposes that ____.

answer

The world is flat

question

Robert is a district manager who oversees several store managers in a national chain of restaurants. Robert reports directly to the vice president of stores and marketing, a member of top management. Robert is a middle manager.

answer

True

question

Don works diligently to accomplish the company goals in an efficient and effective manner, utilizing his employees through planning, organizing, leading, and controlling company resources. Don is ___.

answer

Managing

question

Greg, a supervisor, is known by his managers to be sharp in his decisions and has a good track record of meeting his goals. Greg is a(n) ____ manager.

answer

Effective

question

To help maintain a competitive advantage, the emphasis for most companies is on _____.

answer

Production efficiency

question

At ABC Manufacturing, employees work together to achieve the company goals and purposes. This describes ___.

answer

An organization

question

The owners of a local restaurant routinely try to develop new menu items and seek better ways of helping their customers; this is an example of ___.

answer

Innovation

question

ABC Manufacturing employs some of the top professionals in its field, and because of their skills and experience, ABC is highly efficient and outperforms its competitors. ABC Manufacturing has a(n) ____ over its competition.

answer

Competitive Advantage

question

When building a new residential development or mall, a national real estate organization typically does not remove many trees, basing its decision on the belief that natural resources are limited, and we need to not compromise the ability of future generations to meet their own needs. This management philosophy is known as ___.

answer

Sustainability

question

When Paul, a new restaurant owner, is determining which products to offer on his menu, he is involved in the management function of planning.

answer

True

question

A national sales organization has implemented a sets of training courses on its intranet, with a link that allows employees to find and share answers to questions that arise with customers. A system that allows the sharing of knowledge and information throughout an organization is known as ___.

answer

Knowledge Management

question

The vice president of human resources for a national electronics retailer is meeting with employees of several stores to present information to workers that their stores are closing and how the company will help employees in the future. This task is part of a(n) _______ role.

answer

Disseminator

question

Greg, a supervisor, is known by his managers to be sharp in his decisions and has a good track record of meeting his goals; Greg is a(n) ____ manager.

answer

Effective

question

Being a manager can be one of the greatest avenues to a meaningful life, particularly if the manager ____.

answer

Is working within a supportive or interesting organizational culture

question

Sally has a high-paying management position with a Fortune 500 company, but she is tired of working for corporate America. So Sally has decided to start a business, and she knows she will be successful as an entrepreneur because entrepreneurs typically ___.

answer

have a high need for achievement

question

Elizabeth is a chef and the kitchen manager in an upscale restaurant. She is very knowledgeable in both the culinary and restaurant management fields. Because of these skills, Elizabeth can be considered a(n) ____ worker.

answer

Knowledge

question

An entrepreneur is best described as ___.

answer

Someone who takes risks to try to create a new enterprise

question

Management scholar Henry Mintzberg found that in their workday, managers ____.

answer

Have work that is characterized by fragmentation, brevity, and variety

question

Becoming a manager offers ___.

answer

Many rewards apart from money and status

question

At ABC Manufacturing, employees work together to achieve the company goals and purposes. This describes ___.

answer

An organization

question

Those who study management will understand how to ___.

answer

Relate to their managers and deal with organizations from the outside

question

Donna, the office manager, spends a large part of her day working closely with those whom she supervises to successfully accomplish the many tasks she is responsible for. She also works well with other departments to get things done. Donna is exhibiting which type of managerial skill?

answer

Human

question

Managers are classified into the four levels of ____.

answer

Top, middle, first-line managers, team leaders

question

Maria, the public relations manager of a local library, is meeting with the news media regarding a new reading program for children. Maria is performing the _______ role.

answer

Spokesperson

question

The principal functions of management are ___.

answer

Planning, organizing, leading, controlling

question

Using state-of-the-art computer software and hardware to help people work better together is known as ____.

answer

Collaborative computing

question

With production today, companies emphasize _____.

answer

Efficiency

question

Deshawn started a new type of business that provides new and unique services that did not exist before his efforts. This is an example of a(n) ____.

answer

Entrepreneur

question

Samuel, a marketing manager, recently attended a management workshop where he learned of Mihaly Csikzentmihalyi's view that the ideal state that many people seek is ___.

answer

An emotional zone somewhere between boredom and anxiety

question

When Dave, a restaurant owner, had his seafood business destroyed by Hurricane Katrina, he believed that he was in control of his own destiny and made a decision to rebuild the company. Dave is an individual with a(n) ____.

answer

Internal locus of control

question

One way to think of management is ___.

answer

The art of getting things done through people

question

Today nearly one in six American workers is _____.

answer

Foreign-born

question

As a store manager, Liandra has to play the role of negotiator, such as purchasing products at a fair price for her company. As she handles this responsibility, Liandra is playing the ____ role.

answer

Decisional

question

According to management scholar Henry Mintzberg, managers play three roles:

answer

Interpersonal, Informational, Decisional

question

Felix pays a lot of attention to the environment outside his company, staying alert for long-run opportunities and problems and devising strategies for dealing with them. Felix is a(n) ____ level manager.

answer

Upper

question

Sofia, a restaurant manager, has been observing and analyzing the work process of each task because she would like to increase the productivity of employees in the restaurant. This is an example of ____ management.

answer

Scientific

question

Abraham Maslow's listing of physiological, safety, love, esteem, and self-actualization needs, and his belief that some of these needs must be satisfied before others, was proposed in his _________.

answer

Hierarchy of human needs

question

The classical management viewpoint emphasized ____.

answer

Ways to manage work more efficiently

question

When more efficient workers earn higher wages, this is known as a _____ pay structure.

answer

Differential rate

question

Managers in a plumbing company have been having problems with employees starting cliques. To develop more of a team culture, the CEO suggested utilizing Mary Parker Follett's belief: companies should _____.

answer

Operate as a community, with employees working in harmony

question

Tom, a production manager, believes that some of his workers are unhappy with their job, so they are not working as hard as they could be. This reduction in effort is also known as ____.

answer

Soldiering

question

The Johnsons decided to beautify their home by investing in landscaping. While doing this, they dealt with employees from various departments of the landscaping company, including a sales representative, a designer, the individuals who oversaw and did the work, the office and billing personnel, and also the maintenance personnel. Using the systems perspective, the people required to provide the landscaping services are considered ______.

answer

Inputs

question

The father of industrial psychology is ____.

answer

Hugo Munsterberg

question

Within her company, Maria utilizes a management style that varies according to the individual and environmental situation, with a strategy for minimizing errors by managing each stage of production. She has also set up a system with inputs, outputs, transformation processes, and feedback. Maria's management perspective is best described as _____.

answer

Contemporary

question

Ann is the owner of a family-owned grocery store. The culture and belief of Ann and the previous owners, her grandfather and father, is to hire good people you believe in and then trust them with responsibility so that they grow into valuable employees. Ann and the previous owners are an example of ___ managers.

answer

Theory Y

question

The systems viewpoint sees organizations as entities made up of interrelated parts known as ____.

answer

Inputs, outputs, transformation processes, feedback

question

Abraham Maslow proposed the ____.

answer

Hierarchy of human needs

question

To better meet corporate goals this year, Donna, a CEO, is encouraging her managers to focus on the major functions of management, which include ______.

answer

Planning, organizing, leading, controlling

question

The management approach that emphasized ways to manage work more efficiently is the ___ viewpoint.

answer

Classical

question

The Jones family had a fire that destroyed their home. Various departments of a restoration company, from the initial cleanup crew to the assistance with the Jones family moving back in, worked together to achieve this goal. This is an example of a(n) ____.

answer

System

question

Joseph Juran defined quality as "fitness for use," which meant that ____.

answer

A product or service should satisfy a customer's real needs

question

Amy is a package delivery service manager. She is interested in implementing the management philosophy pioneered by Frederick W. Taylor and Frank and Lillian Gilbreth, which scientifically studies work methods to improve the productivity of individual workers, known as ____.

answer

Scientific Management

question

Thomas has been studying Hugo Munsterberg's suggestions, and like Munsterberg, Thomas believes that psychologists can contribute to industry by _____.

answer

Devising management strategies to influence employees to follow management's interests

question

Susan, a movie theater manager, has observed that as workers feel some company policies are not fair, the employees have not been working as hard as in the past. This reduction in effort is known as ____.

answer

Soldiering

question

A large production company has been utilizing the Hawthorne effect in its 12 international factories, and it has seen great success from implementing the Hawthorne principles that propose that ____.

answer

Giving more attention to employees increases worker productivity, if they think managers care about them

question

The historical perspective includes three viewpoints: _______.

answer

Classical, behavioral, quantitative

question

Gary Hamel suggests we need to look at management as a process and then make improvements and innovation ____.

answer

Ongoing and systematic

question

The new chief information officer of a national pizza chain is using mathematical tools to aid in product ordering and scheduling decisions; this is an example of _____.

answer

Management Science

question

Dominique, an executive chef in a large hotel, recently attended a training conference sponsored by several top professionals in his field, where he learned numerous ways his restaurant and hotel can better serve customers. Dominique is excited that management asked him to present this information to the hotel staff so the restaurant and hotel can make needed improvements. Dominique's hotel is a(n) _____ organization.

answer

Learning

question

The father of scientific management is _____.

answer

Fredrick Taylor

question

The field of behavioral science includes _____.

answer

Psychology, sociology, anthropology, economics

question

Hugo Munsterberg was known as ____.

answer

The father of industrial psychology

question

The belief that quality stemmed from "constancy of purpose," and that managers should stress teamwork, be helpful rather than simply give orders, and make employees feel comfortable about asking questions was proposed by _____.

answer

W. Edwards Deming

question

The classical viewpoint of management emphasized ways to ___.

answer

Manage work more efficiently

question

Operations management focuses on managing the production and delivery of an organization's products or services _____.

answer

More effectively

question

While discussing approaches to boost organization productivity, Rene, the president of an auto manufacturer, was interested in a rational approach that through the application of scientific methods, time and motion studies, and job specialization found it is possible to increase productivity. This is the essence of the ____ viewpoint.

answer

Classical

question

Maslow's hierarchy of human needs included ______.

answer

Physiological, safety, love, esteem, self-actualization

question

When Cheyanne, the manager, was discussing a difficult competitive problem with the owner, she asked, "What management approach do you think will work best in this situation?" Asking this question to determine a solution is utilizing ____.

answer

The contingency viewpoint

question

Olivia, the general manager of a bowling center, believes in her workers and that they are responsible and capable employees, so that they can be trusted when given responsibility. Olivia is an example of a(n) ___ manager.

answer

Theory Y

question

The contemporary perspective consists of three viewpoints: ____.

answer

Systems, contingency, quality management

question

The board of directors, employees, and owners are the organization's ___.

answer

Internal stakeholders

question

The notion that corporations are expected to go above and beyond following the law and making a profit to help society known is ____.

answer

Corporate social responsibility

question

To save money, Paul, the owner of a struggling restaurant produce supplier, has been considering reducing the amount of produce in some cases delivered to busy restaurants, knowing the customers will probably never notice. This decision is an example of an ethical dilemma.

answer

True

question

The macroenvironment, which includes sociocultural, demographic, political-legal and international forces, cannot easily be controlled by organizations.

answer

True

question

Dawn, a young single mother, found a wallet with a large amount of money inside. In the past she has always tried to return the cash to the owner, knowing it is the right thing to do. However, with tough times, she has decided to keep the cash. She told a friend, "I don't normally do this, but we really need the money. So I really have to do it this one time." The most likely explanation for Dawn's behavior is _____.

answer

Motivated blindness

question

Having some clients who are less knowledgeable about investing and seem to be more trusting of their firm, the management of a financial advising organization has decided to use cash from newer investors to pay off older ones. The actions of management are an example of ____.

answer

A Ponzi Scheme

question

The triple bottom line represents ______, also known as the ____.

answer

People, planet, and profit; 3 Ps

question

Ethics are _____.

answer

Standards of right and wrong that influence behavior

question

A distributor is a person or an organization that helps another company sell its goods and services to customers. Distributors are considered external stakeholders.

answer

True

question

While setting up their corporation, Ming and Jie implement a system of governing their organization so that the interests of corporate owners and other stakeholders are protected. This is an example of a _____.

answer

Corporate

question

An organization's external stakeholders include ____.

answer

customers, competitors, suppliers, distributors, strategic allies, employee associations, local communities, financial institutions, government regulators, special-interest groups, and the mass media

question

The system of governing a company so that the interests of corporate owners and other stakeholders are protected is known as corporate governance.

answer

True

question

An ethical dilemma is a situation ____.

answer

In which you have to decide whether to pursue a course of action that may benefit you or your organization but is unethical or even illegal

question

Paul and Anna Jones are wealthy entrepreneurs who are very interested in helping children who have been abused. Their goal is to donate a percentage of their company profits to helping these children. The Jones's actions are an example of _____.

answer

Philanthropy

question

Patsy, a nurse, has decided to start a home health care service to assist with the medical, meal preparation, and light housecleaning needs of older adults. To grow her business, Patsy is focusing her marketing efforts on the older adult population; as she does this, she is involved with the _____ environment.

answer

General

question

Americans driving less and young people having less interest in cars are examples of trends in society known as ____ forces.

answer

Sociocultural

question

Greg, the president of an IT company, purchased a large number of shares of company stock before the news of a new revolutionary computer processor was made public that will cause company profits to increase considerably. This action by Greg could be considered an example of _____.

answer

Insider Trading

question

For organizations' board of directors, and in particular, their oversight of the CEO, the biggest complaint appears to be _____.

answer

The independence of the directors

question

The employees of Mom's Pizza, a local pizza restaurant, feel that the owners and managers really try to follow the ethical policies outlined in their company's code of ethics. Pete, a cook, said that "Just today, Joe, our manager, called our supplier to let them know we received an extra case of tomatoes that we did not pay for. And they do this type of thing almost every day." Mom's Pizza maintains a(n) _____.

answer

Ethical climate

question

An organization's internal stakeholders consist of ___.

answer

Board of directors, employees, and owners

question

New developments in methods for transforming resources into goods or services are _____ forces.

answer

Technological

question

Marie and Marti are partners who solely own M and M Florist. As owners, they can ____.

answer

Claim an organization as their legal property

question

Joe, owner of ABC Electronics, just discovered that his trusted friend Paul, his accountant for over 30 years, has been mishandling the company books and stealing from the company bank account. Joe must decide whether to publicly ignore his friend's actions and avoid bad publicity for the firm, an example of ____.

answer

An ethical dilemma

question

Every Saturday Mrs. Jones and hundreds of other shoppers visit ABC Market, a grocery store, to buy food for their home or business. These shoppers are _____ to ABC.

answer

Customers

question

Ole McDonald, a successful farm equipment supply company in the Midwest, joined with A-Plus Supply, a national hardware and home retailer, so Ole McDonald can open stores in other regions and A-Plus can now offer a high-quality product in the farm community. This is an example of a ___ relationship.

answer

Strategic allies

question

The mass media is considered part of an organization's _____.

answer

Task environment

question

With recent reports of identity theft, Mr. Jones, the CEO of a construction company, is concerned about his employees' privacy, and because of recent accidents on the job, he is also worried about the safety of his workers. Mr. Jones's concerns with privacy and health and safety are outlined in the _____ approach to deciding ethical dilemmas.

answer

Moral rights

question

Don has managed several restaurants for over 50 years and is close to retirement. With his maturity, his decisions are sound, based on solid, proven values. Don tends to be an independent thinker who focuses on empowering his employees. Don manages at Kohlberg's ______ level of personal moral development.

answer

Post conventional

question

When individuals who want to start a new venture obtain many small amounts of money from many people, this type of financing is called ____.

answer

Crowdfunding

question

Phillip said to a dear friend, "I am fed up with my company's continual disregard for human life and the environment. They just continue to secretly dispose of hazardous chemicals into a nearby stream. I don't know how they get away with it! I am going to tell somebody today." Phillip's decision to tell somebody about his company's actions is an example of a(n) ______.

answer

Whistle-blower

question

As the CEO of a company that produces products for schools, Hannah feels that her company needs to not only produce a profit but also do things that benefits society. This type of company attitude is an example of ____.

answer

Social responsibility

question

Corporate governance is the system ____.

answer

Of governing a company so that the interests of corporate owners and other stakeholders are protected

question

Regulatory agencies that establish ground rules under which organizations may operate are known as ____.

answer

Government regulators

question

After more than 100 years in business, Don, the president of a successful family-owned company, wants to give back to the people of the community for the many years of success that they have given to my father and me. He decides to donate a significant portion of profits to a charity every year. What Don's company is doing is an example of ___.

answer

Corporate social responsibility

question

Local livestock farmers could allow the runoff of manure nutrients into a stream that feeds a local lake because this helps farmers in the short term. However, farmers will act ethically in the short run to avoid harming others in the long run because this is also in the farmer's best long-term interests; this is reflected by the _____ approach to deciding ethical dilemmas.

answer

Individual

question

The justice approach to deciding ethical dilemmas is guided by _____.

answer

Respect for impartial standards of fairness and equity

question

The relatively permanent and deeply held underlying beliefs and attitudes that help determine a person's behavior are known as ____.

answer

Values

question

Sustainability is economic development that ____.

answer

Meets present needs without compromising the ability of future generations to meet their own needs

question

Mr. Jones, a wealthy businessman who made his fortune in the oil industry, understands the importance of a college education, so he has given over $10 million over the last several years to colleges and universities. This is an example of _____.

answer

Philanthropy

question

Franchising allows restaurants internationally to pay a fee plus a percentage of the profits in return for using a company's name and assistance with management, marketing, and the training of managers and nonmanagement employees.

answer

True

question

Best Builders, a home builder in the U.S., makes use of many suppliers to provide quality products in the homes it builds, such as a roofer in the same city and Belize International in Guatemala, which provides some of the highest-quality cabinets available. This use of outside suppliers to help the contractor build homes for customers is known as ____.

answer

Outsourcing

question

Steve, a recent college graduate in computer programming, is interested in several positions with global companies because he knows that working in other countries exhibits ____ to potential employers according to management recruiters.

answer

Independence, resourcefulness, and entrepreneurship

question

The trend of the world economy toward becoming a more interdependent system is known as ____.

answer

Globalization

question

Maquiladoras are manufacturing plants allowed to operate in Mexico with special privileges in return for employing Mexican citizens.

answer

True

question

The shared set of beliefs, values, knowledge, and patterns of behavior common to its people is a nation's _____.

answer

Culture

question

Alan, a retired doctor, is interested in starting a nonprofit organization that will include doctors and other medical professionals who travel to low income areas in the United States and internationally to assist with medical needs and open hospitals. Alan's organization is an example of a multinational organization.

answer

True

question

Dave's Furniture in South Carolina produces high-quality furniture and ships its products to customers in over 40 countries. This is an example of ____.

answer

Exporting

question

The United States has prohibited the import of products from Iran due to the political situation in that nation. This ban is an example of a(n) ____.

answer

Embargo

question

Luis, the owner of a shoe factory in Panama, is unhappy due to a tax that the U.S. government has implemented on shoes exported there to protect U.S. shoe companies. This is an example of a tariff.

answer

True

question

A multinational corporation is a(n) ____.

answer

Business form with operations in several countries

question

The global village refers to the "shrinking" of time and space as air travel and the electronic media have made it easier for people worldwide to communicate with one another.

answer

True

question

Dave and his wife are expecting their first child this week, but Dave had to attend a very important meeting in Mexico City. While in Mexico, Dave was able to check his phone for text messages every hour, and as soon as his wife went into labor, he was able to return home in less than six hours. This "shrinking" of time and space with air travel and electronic media is known as ____.

answer

The global village

question

International Fabric buys products for its customers from over 30 countries. The retailer is an example of a company that ____.

answer

Imports

question

Managers who believe that their native country, culture, language, and behavior are superior to all others are ____ managers.

answer

Ethnocentric

question

NAFTA and CAFTA are ____.

answer

Major trading blocs

question

The IMF has ____.

answer

Helped support some weaker European countries during the recent financial crisis

question

Dominique owns an international grocery store where customers can purchase products from other countries. Dominique's store is an example of a company that ____.

answer

Imports

question

Technology Experts is a U.S. company that specializes in IT research. It has formed a joint venture with Processor Inc., a Canadian organization that has a reputation of producing quality PCs, to market laptops in China, sharing the risks and rewards of starting the new enterprise together. This is an example of a(n) ___.

answer

Strategic Alliance

question

Licensing is when a company ____.

answer

Allows a foreign company to pay it a fee to make or distribute the first company's product or service

question

Maria, the vice president of sales for an international organization, believes that employees in her foreign offices understand best how to handle the personnel and practices in their offices. So when the corporate HR manager approached Maria about scolding Robert, the Paris manager, for not doings things according to corporate policy, Maria backed Robert and said, "I believe that the home office should leave Robert alone because he best understands the local culture." Maria is an example of a(n) ___ manager.

answer

Polycentric

question

Last week Paul, CEO of Quality Furniture in South Carolina, traveled to Europe to visit customers. While overseas, Paul checked his e-mail daily and visited his company's website to show to customers. After visiting the last customer Friday morning, Paul was able to return to the corporate office to meet with his board of directors that night. This "shrinking" of time and space with air travel and electronic media defines ____.

answer

The global village

question

Tom, who owns a successful business with two locations and a few international clients, was approached by a large organization about dramatically expanding his company. Tom later told his wife that he is happy with his success, but he wants to stay small because if he decides to add new products, small companies ____.

answer

Can get started more easily and maneuver faster

question

In a low-context culture ____.

answer

Shared meanings are primarily derived from written and spoken words

question

Shoes International is a global nonprofit organization that works with schools and various companies to donate shoes to children in poverty throughout the world. Shoes International is an example of a ____.

answer

Multi national organization

question

When communicating across cultures, the best option regarding language use is _____.

answer

Learn the local language

question

Ethnocentric managers believe that their native country, culture, language, and behavior _____.

answer

Are superior to all others

question

Globalization is the trend ___.

answer

Of the world economy toward becoming a more interdependent system

question

Susan, from Iowa, arrived in Saudi Arabia and immediately noticed that the way Saudi men treat women is vastly different than how men in the U.S. treat women. Susan was feeling uncomfortable because she was experiencing ___.

answer

Culture Shock

question

Don's Carpet installed carpet at no cost for City Office Supply, in exchange for $1,000 of office supplies. This is an example of ____.

answer

Counter trading

question

The WTO was formed to ____.

answer

Monitor and enforce trade agreements

question

While traveling in France, Jim and his wife, both Americans, were concerned about how much they can afford to spend in Europe because sometimes the U.S. dollar will buy more goods and sometimes it will buy less, based on changing economic conditions. This change in the values of currencies and how they fluctuate in relation to each other is known as the ____ rate.

answer

Exchange

question

Don, who owns an investment firm with customers worldwide, has witnessed how dangerous global economic interdependency can be. During a lunch meeting he mentioned to a customer, "I certainly have seen two negative effects for the United States of global economic interdependency: ___."

answer

Vast surplus funds from global investments flowing into the United States and loss of well-paying jobs

question

Roberto, the vice president of marketing, is talking to Francis, a sales manager in a foreign office, about several local situations that Francis's reps are facing in their territory. Roberto tells Francis that he believes there are differences and similarities between home and foreign personnel and practices, and that Francis should use whatever techniques are most effective. Trey is an example of a(n) ____ manager.

answer

Geocentric

question

As part of becoming a world citizen, Joe, who is from Michigan and who is transferring to the Paris office, is trying to do things to ___.

answer

Think local and keep a global focus

question

Tom and his fiancé Susan decided to have their wedding on a beach in Acapulco, Mexico. Some services for the wedding, such as the limousine and the catering services, were local. Throughout the weekend of the wedding, the couple found that workers and things for their wedding arrived late. In response, the Mexican workers remarked, "Ustedes tiene que ser flexibles," which in English means, you have to be flexible with time. This attitude regarding time is considered _____.

answer

Polychromic Time

question

Sometimes a country's laws forbid foreigners from ownership within their nation, and the only way an American company can have a presence in that foreign country is with a(n) ___.

answer

Joint Venture

question

Prior to 1990, the United States imposed a tax on automobiles imported from Mexico. This type of tax is a(n) _____.

answer

Tariff

question

A tax on automobiles imported into the United States that raises prices on imported vehicles to make the price of cars produced here more competitive is a(n) ______; a tax on all oil imported into the United States, which is implemented to raise money for the American government, is known as a(n) ____.

answer

Protective tariff; revenue tariff

question

Donald enjoys the excitement and challenge of forming a firm in Europe that is totally owned and controlled by his company because he knows that although the investment will be substantial, it could result in a large return. This type of organization is an example of a ____.

answer

Wholly-owned subsidiary

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