15) Turakey projecta are a meuns of exporting to otber countries. A) cormaodities B) the manufacturing of goods C) process technology D) the provision of services E) the production of automobiles 16) Suppose Exxon, a U.S, company, was eontracted by a Saudi Arabian company to build an oil refinery in Saudi Arabia, and the contract specified that Mobil would handle every aspect of the construction of the refinery, fncluding the training of the operating personnel. This type of project is referred to as a(n) A) turnkey project B) beginaing to end C) A to 2 D) front to back E) petro project 17) Turnkey projects are most common in the following industries: A) chemical, pharmaceutical, petroleum refining, and metal refining B) textiles, shoes, leather products, and linens C) cars, trucks, constraction equipment, and farm implements D) lumber, furniture, paper, and pulp E) automobile, pulp and paper, metal mining, and oilfield production 18) Creating efficient competitors and lack of long-term market presence are disadvantages of A) turnkey projects: B) licensing C) franchising D) exporting E) joint ventures 19) Which foreign market entry strategy has the following disadvantages: lack of long-term market presence, may inadvertently ereate a competitor, risk of selling a firm's competitive advantage? A) wholly owned subsidiary B) turnkey project C) exporting D) franchising E) joint venture 20) takes advantage of a firm's competency in the area of assembling and running technologically complex projects. A) Licensing B) Exporting C) Turnkey projects D) Franchising 21) A firm can increase the probability of exporting sucoessfully by taking which of these steps? A) avoid hiring EMCs to contain costs B) hire home country personnel to build commitment c) enter on a small seale D) wait for the export opportunities to come to you E) make extensive investments in building regional contacts 22) Global Truding, Inc. is considering export operations for the first time. It can increase the probability of success by taking all of these steps except: A) be proactive about seeking export opportunities: B) hire an EMC. C) focus on one market. D) hire the home country personnel to build commitment. E) enter on a small scale. 23) Mechanisms for financing exports and imports have evolved over the centuries in response to a problem that can be particularly acute in international trade: A) the letter of credit B) the lack of trust C) government regulations D) undeveloped international political system E) currency exchange rate difterences 24) Which of the following financing and venture capital services does the BDC not provide? A) start-up financing B) interest-free loans C) working capital D) new equipment financing E) financing for commercial real estate 25) When was the BDC conceived? A) at the end of World War II B) in the 1950s C) in the 1960s D) in the 1970s E) in the 1980s 26) Which of these stands at the centre of international commercial transactions? A) bill of lading B) time draft C) way bill D) sight draft E) letter of credit 27) What is the document, issued by a bank, that indicates that the bank will make payments under specific circumstances known as? A) bill of lading B) time draft C) way bill D) sight draft E) letter of credit 28) Access International, a British based grecting card company, is interested in importing paper from Canada. Which of these should Access arrange first for the Canadian company to ship the merchandise? A) letter of eredit B) bill of Lading C) time draft D) sight draft E) way bill 29) The letter of credit is issued by a bank at the request of a(n) : A) exporter B) government C) importer D) shipping company E) exporter's bank 30) Issued by a bank at the request of an importer, the states that the bank will pay a specified sum of money to the beneficiary on presentation of particular, specified documents. A) bill of lading B) letter of credit C) time draft D) sight draft E) draft 31) The concept of economies of scale tells us that as plant output expands unit costs do what? A) increase B) decrease C) remain the same D) expand exponentially E) decrease exponentially 32) The declines with output until a certain output level is reached; at which point further increases in output realize little reduction in unit costs. A) component expense curve B) unit expense line C) unit cost curve D) component cost slope E) marginal cost curve 33) The larger the minimum efficient scale of a plant, the greater the argument for centralizing production in a single location or a limited number of locations is the implication of the concept: A) consumer input B) economies of scale C) production D) materials management E) TQM 34) What are manufacturing technologies that are designed to reduce setup times, increase use of individual machines through better scheduling, and improve quality control at all stages of manufacturing called? A) multifaceted production B) lean production C) lateral production D) temporal production E) six sigma 35) According to the textbook; manufacturing technologies provide a company the ability to produce a wider variety of end products at a unit cost that at one time could be achieved only through the mass production of a standardized output. A) multifaceted B) lateral C) side by side D) flexible E) mass customization 36) Which of the following is not one of the objectives of flexible manufacturing technology, or lean production? A) reduce setup times for complex equipment B) bring a factory into compliance with ISO 9000 C) improve quality control at all stages of the manufacturing process D) increase utilization of individual machines through scheduling E) none of these answers is correct