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Using the quotations in Exhibit 7.3, note that the June 2019 Mexican peso futures contract has a price of 0.05143 per MXN. You believe the spot price in June will be 0.05795 per MXN. What speculative position would you enter into to attempt to profit from your beliefs? Calculate your anticipated profits, assuming you take a position in three contracts. What is the size of your profit (loss) if the futures price is indeed an unbiased predictor of the future spot price and this price materializes?
CHAPTER 4: QN=1 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: can be defined as acquired knowledge that people use to interpret experience and generate social behavior Edification Culture Symbol Cognition B Yes QN=2 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: According to most scholars of culture, culture is: based on the human capacity to symbolize based on the genetically driven adaptive process of animals specific to single individuals inherited or biologically based A Yes QN=3 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: When depicting cultural diversity through visually separating its components by using concentric circles, the inner circle: contains the norms, beliefs, dimensions, and values of society contains the implicit, basic assumptions that govern behavior consists of language and art consists of food and buildings B Yes QN=4 a b c d ANSWER: MARK: Culturally, an American can be expected to have a _ handshake gentle light and quick firm long and involved C UNIT: LO: MIX CHOICES: Yes QN=5 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Which of the following is a characteristic of culture? Culture is biologically based Culture is specific to each individual Culture has structure Culture is noncumulative C Yes QN=6 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: _ are basic convictions that people have regarding what is right and wrong, good and bad, and important or unimportant Tenets Edicts Norms Values D Yes a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Which of the following statements is true about stateside Japanese managers? They believed that unconditional tenure in one organization is of major importance They believed that job security was important They accepted the idea that one should not question a superior They perceived obedience and conformity to be very important B Yes QN=8 a b Confucianism, associated with China, does not emphasize: respect for authority balance QN=7 c d ANSWER: MARK: UNIT: LO: MIX CHOICES: harmony profit D Yes QN=9 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: A diffuse culture is one in which individuals: guard their public space carefully greet each other with a great deal of enthusiasm are direct and extroverted have a large public space and a small private space A Yes QN=10 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: In the context of integrating the dimensions of culture, which of the following are very useful in depicting what countries appear similar in values and to what extent they differ from other country groupings? Use of pie charts Use of concentric circles Normal distribution Cluster distribution D Yes QN=11 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Which of the following statements is true about restrained societies? People give importance to freedom of speech People are more likely to remember positive emotions People experience a perception of helplessness People are less likely to give importance to law and order C Yes QN=12 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: According to Hofstede's time orientation dimension, which of the following statements is true about long-term-oriented societies? Traditions are sacrosanct Family life is guided by shared tasks Service to others is an important goal Students attribute success and failure to luck B Yes QN=13 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Which of the following dimensions measures the freedom to satisfy one's natural needs and desires within a society? Achievement versus ascription Specific versus diffuse Indulgence versus restraint Universalism versus particularism C Yes QN=14 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Countries in which people blindly obey the orders of their superiors have a high _ uncertainty avoidance masculinity index power distance individualism index C Yes QN=15 a b c d Cultures with low _ have people who are more willing to accept that risks are associated with the unknown and that life must go on in spite of this individualism power distance uncertainty avoidance masculinity index ANSWER: MARK: UNIT: LO: MIX CHOICES: C Yes QN=16 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Nations that are collectivist in their approach tend to be characterized by: large power distance and low individualism low power distance and high individualism small power distance and weak uncertainty avoidance large power distance and weak uncertainty avoidance A Yes QN=17 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: A(n) _ culture is one in which both public and private space are similar in size and individuals guard their public space carefully because entry into public space affords entry into private space as well diffuse neutral emotional specific A Yes QN=18 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Which of the following statements is true about cultures with high communitarianism? Negotiations are typically made on the spot by a representative People jointly assume responsibility Entrepreneurial spirit is most likely high People give more importance to personal and individual matters B Yes QN=19 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: QN=20 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Which of the following fundamental questions is not included in the specific objectives of the GLOBE project? Are there leader behaviors, attributes, and organizational practices that are accepted and effective in only some cultures? What is the effect of violating cultural norms that are relevant to leadership and organizational practices? What is the relative standing of each of the cultures studied on each of the nine core dimensions of culture? How attributes of societal and organizational cultures affect the behaviors of lower-level workers in an organization? D Yes Societal collectivism refers to the degree to which: individuals express pride, loyalty, and cohesiveness in their organizations or families individuals in organizations or societies encourage and reward individuals for being fair organizational and societal institutional practices encourage and reward collective distribution of resources and collective action individuals in organizations or societies are confrontational C Yes 20 CÂU CHAPTER CHAPTER QN=21 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: In the context of the smartphone industry, which of the following helps Apple differentiate itself from its competitors? Product innovation Low-cost strategy Group achievement Collective approach to design A Yes QN=22 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: A company with a(n) _ predisposition tries to integrate a global systems approach to decision making ethnocentric polycentric geocentric regiocentric C Yes QN=23 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Firms with a(n) _ predisposition make strategic decisions tailored to suit the cultures of the countries where the MNC operates polycentric ethnocentric regiocentric geocentric A Yes QN=24 a b c _ is a belief that one worldwide approach to doing business is the key to both efficiency and effectiveness International complacency Globalization imperative Worldwide indifference d ANSWER: MARK: UNIT: LO: MIX CHOICES: Cross-cultural contentment B Yes QN=25 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Firms with a geocentric predisposition have a _ culture home country global host country regional B Yes QN=26 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Which of the following countries prefers advertising that is factual and rational? India China Germany France C Yes QN=27 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Which of the following is a factor that is moving companies to facilitate the development of unique strategies for different cultures? The lack of diversity of worldwide industry standards A continual demand by local customers for differentiated products The importance of being an outsider The need to restrain subsidiaries from using their own abilities and talents B Yes QN=28 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Which of the following is a characteristic of a high-context culture? Deep personal involvement with others is not valued greatly Individuals are taught from a very early age to say exactly what they mean Insiders and outsiders are not readily distinguishable Agreements tend to be spoken rather than written D Yes c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Identify an accurate statement about the link between cultural clusters and compensation strategies In high-masculinity cultures, high salaries should be paid to senior-level managers In Pacific Rim countries, incentive plans should be individual-based In countries that have a high individualism index, profit-sharing plans are highly effective In Great Britain, managers value collectivism A Yes QN=30 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: Malaysia has what could be called a _ moderate-context culture low-context culture variable-context culture high-context culture D Yes QN=31 a b c d ANSWER: The five criteria in the acronym HAIRL stood for _ helicopter, analysis, imagination, reality, and leadership hierarchy, awareness, ingenuity, reverie, and leadership helicopter, action, interest, reality, and leadership hierarchy, action, ingenuity, reverie, and leadership A QN=29 a b MARK: UNIT: LO: MIX CHOICES: QN=32 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: QN=33 a b c d ANSWER: MARK: UNIT: LO: MIX CHOICES: QN=34 a b Yes A partially completed contingency matrix for international human resource management shows that recruitment and selection processes in Mexico should _ encourage use of sophisticated selection procedures based on recent public policy shifts use expatriates sparingly and recruit home country nationals at U.S colleges obtain skilled labor from government subsidized apprenticeship program prepare for a long process; ensure that your firm is "here to stay"; and develop trusting relationship with recruits B Yes A partially completed contingency matrix for international human resource management for labor relations shows that firms doing business in China should _ treat unions as partners and allow time for negotiations tap the large pool of labor in cities and be prepared that lax labor laws may become more stringent understand changing Chinese labor law and prepare for increasing unionization of labor be prepared for high wages and short workweek and expect high productivity from unionized workers B Yes A partially completed contingency matrix for international human resource management for labor relations shows that firms doing business in Germany should _ treat unions as partners and allow time for negotiations tap the large pool of labor in cities and be prepared that lax labor laws may become more stringent