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BUSI 601-B04 LUO TEST 1 QUESTIONS AND ANSWERS 2022
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BUSI 601-B04 LUO TEST 1 QUESTIONS AND ANSWERS 2022
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BUSI 601-B04 LUO TEST 1 QUESTIONS AND ANSWERS2022
Course BUSI 604-B04 LUO
Test Test 1
Status Completed
Attempt Score 138 out of 150 points
Time Elapsed 1 hour, 10 minutes out of 1 hour and 15 minutes
Instructions
Time limit: 1 hour and 15 minutes
75 true/false and multiple-choice questions
Open-book/open-notes
Do not hit the BACK button as this will lock you out of the test.
The timer will continue if you leave this test without submitting
it.
Results Displayed Submitted Answers, Feedback
Question 1
2 out of 2 points
Economic health is considered (______) when a country imports considerably more than it
exports.
Selected Answer:
Negative
Question 2
2 out of 2 points
The international market removes the boundaries of local market territories, thereby
decreasing the potential market audience
Selected Answer:
False
Question 3
2 out of 2 points
, ISO standards are designed to be implemented worldwide.
Selected Answer:
True
Question 4
2 out of 2 points
Africa was one of the oldest examples of an international trading community.
Selected Answer:
False
Question 5
2 out of 2 points
Foreign direct investment is an attractive option for firms looking to diversify their
investment portfolios and creating opportunities for firms looking to enter emerging markets.
Selected Answer:
True
Question 6
2 out of 2 points
Embargoes are defined as the prohibition of commerce and trade with a certain nation.
Selected Answer:
True
Question 7
, 2 out of 2 points
Globalization creates interdependencies, requires transparency, necessitates that business
people understand the ideal goal of having a seamless international marketplace, and involves
blending and merging of various cultures.
Selected Answer:
True
Question 8
2 out of 2 points
Exploration and trade from Western European nations during the Renaissance led to an
increased supply of (_________) from the New World, leading to an international economy
based on money rather than barter.
Selected Answer:
Precious metals
Question 9
2 out of 2 points
In 1866, the telegraph opened the first transatlantic communications channel to facilitate real-
time communication over long distances.
Selected Answer:
True
Question 10
2 out of 2 points
There is no notable difference in the way a nation conducts business versus the way a large
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