in the answer box on the right, write " T " for "true" or "F" for "false" depending on your answer. 1) A localization strategy makes most sense when there are low pressures for local respoasiveness and high pressures for cost reductions. true filse 2) A business strutegy that secks experience-based economies and location economies, transfers distinctive competencies within the firm, and pays attention to pressures for local responsiveness is a transnational strategy. true false 3) A transnational strategy makes sense when a firm faces low pressures for cost reductions and low pressures for local responsiveness. tue false 4) Due to organizational problems, a transnational strategy is difficult to true false 5) When cost pressures are low and pressures for local responsiveness are low, an international strategy is the most appropriate. true false 6) An international strategy is always viable over the long term. true false 7) A multidomestic alliance is a cooperative agreement between competitors true false 8) Strategic alliances allow a firm to enter a new market, share fixed costs and risks, and bring together skills and assets. true false 9) A firm can give away more than it receives through a strategic alliance. true false 10) In selecting a partner it is important to look for a partner who has capabilities that the firm lacks. irve false 11) The best way to enter a foreign market is the same for all businesses that have headquarters in Canada. true false 12) The choice of what foreign markets to enter should be driven by an assessment of relative long-run growth and profit potential. true false 13) A basic decision for firms considering foreign expansion is what scale to enter at. true false 14) The most important consideration for a firm expanding into a foreign market is the country's long-run revenue potential inue false 15) Pre-emptive advantages are the advantages frequently associated with entering a market early. true false 16) Pioneering costs are costs that an early entrant has to bear that a later entrant can avoid. true filse 17) A decision that is short-term in nature and is fairly easy to reverse is referred to as a strategic commitment. true false 18) Strategic commitments tend to change the competitive playing field. true false 19) The early large-scale entrant into a major developing nation may be able to capture significant first-mover advantages. true false 20) There are five key modes of entry for a firm to enter a foreign market. - truc false 21) Financial deviees can address the issue of a lack of trust among players in international trade. true fislse 22) Lack of trust in international trade is exacerbated by the distance between two parties in space, language, and culture. true false 23) When it comes to bank's service charge for providing a letter of credit, the larger the transaction, the higher the percentage. true false 24) A letter of credit is issued by an importer true false 25) A druft is the instrument normally used in intermational commerce to effect payment. true false 26) A sight draft allows for a delay in payment. true false 27) Time drafts are negotiable instruments. true false 28) The bill of lading can function as collateral against which funds may be advanced to the exporter by its local bank before final payments by the importer. true false 29) A typical intemational trade trinsaction involves 12 steps. true false 30) There are 2 main forms of govermment-backed assistance for U.S, exporters to finance their export initiatives. true false 31) The benefits of manuficturing components in-house seem to be greatest when highly specialized assets are involved, when vertical integration is necessary for protecting proprietary technology, or when the firm is simply more efficient than extemal suppliers at performing a particular activity. true false 32) The greatest advantage of buying component parts from independent suppliers is that the firm can maintain its flexibility. true false 33) There are risks, or trade-offs in the make vs. buy decision. true false 34) The four main areas of concern for managing a global supply chain are the role of just-in-time inventory, information technology, coordination, and interorganizational relationship. true false 35) Increased utilization of JIT inventory systems, CAD, and CAM over the past decades seems to have decreased pressures for firms to establish long-term relationships with suppliers, but increased the pressure to establish short-term ones. true false 36) Some businesses have been able to achieve the gains of vertical integration without encountering its problems by entering into strategic alliances with suppliers. true false