Test 3

Question 1

Ethnocentrism

Answer 1

tendency to look at the world primarily from the perspective of one’s own culture

Question 2

Stereotyping

Answer 2

Assigning attributes based on membership in a particular group

Question 3

Projection

Answer 3

Ascribing to others the characteristics you have or Assuming that the other party will respond in the same manner you would respond

Question 4

Necessary elements for a state

Answer 4

Defined territory
permanent population
Effective government
capacity to enter into agreements with other states

Question 5

US recognition of state

Answer 5

Article 2 sec. 3 gives power to pres/ executive branch

Question 6

before United Nations

Answer 6

League of Nations

Question 7

Security Council 5 permanent

Answer 7

China
France
Russian Federation
United Kingdom 
United States

Question 8

high-context communication/ culture

Answer 8

most of a message is conveyed by the context surrounding it. nonconfrontational,
indirect attitude toward conflicts

Question 9

low-context communication/ culture

Answer 9

emphasizes directness rather than relying on the context to communicate.
More likely to assume a confrontational, direct attitude toward conflicts

Question 10

Collectivist settings

Answer 10

cooperation
participation in shared progress
reputation of the group
interdependence

Question 11

individualist settings

Answer 11

competition
independence
individual achievement
self-reliance

Question 12

Federal antitrust statutes

Answer 12

sherman antitrust
clayton act
federal trade commision act
robinson- patman act

Question 13

Sherman antitrust act

Answer 13

Per se violations - presumed to be unlawful

Rule of Reason - Balances harm to competition with justifications

Question 14

Clayton Act

Answer 14

Tying agreements - sale of one product on condition a customer purchases second product
Exclusive dealing agreements - Requires buyers to buy exclusively from a particular seller

Question 15

Robinson- Patman ACT

Answer 15

Prohibits seller from discriminating in price between different purchasers of commodities of like grade or quality

Question 16

Export license requirement

Answer 16

technical characteristics
destination
end user
end use

Question 17

General Agreement on Tariffs and Trade (GATT)

Answer 17

encouraged free trade between member states
Regulated and reduced tariffs
provided common mechanism for resolving trade disputes
Member nations meet every two years

Question 18

Marrakesh Agreement

Answer 18

Established the world trade organization (150 member states)

Question 19

North American Free Trade Agreement (NAFTA)

Answer 19

eliminate barriers to trade
promote conditions of fair competition
increase substantially investment opportunities
protection and enforcement of intellectual property
create effective procedures
establish framework for further cooperation

Question 20

fair trade

Answer 20

social movement which promotes equitable standards for international labor, environmentalism, and social policy

Question 21

security (investment contract)

Answer 21

any transaction where a person invests

(2) in a common enterprise
(3) reasonably expecting profits
(4) derived primarily or substantially form other’s managerial or entrepreneurial efforts

Question 22

Blue sky laws

Answer 22

each state’s own rules and regulations

Question 23

Security registration statements

Answer 23

All companies must file registration statements (effective 20 days after filing)
Registration requirements of 1933 Act only apply to
issuers, underwriters and dealers

Question 24

Security registration exemptions

Answer 24

private offerings
offerings of limited size
intrastate offerings
securities of municipal, state, and federal governments

Question 25

regulation A (partial exemption)

Answer 25

Offering statement in stead of registration statement
Includes offering circular rather than prospectus
may not exceed $5 million in 12-month period

Question 26

Regulation D general rules

Answer 26

Private offering, no advertising
Buyer may not resell for 2 years
Must notify SEC within 15 days