True or False

1. The term "FOREX" stands for foreign exchange (of national currencies).TF

2. Approximately US$5 trillion in FOREX is traded daily on the world's electronic currency exchanges.TF

3. Sustainable economic development meets the needs of the present without compromising the ability of future generations to meet their own needs.TF

4. Culture in international management can be understood as evident both nationally and in the workplace according to the work of Geert Hofstede. TF

5.Drivers of globalization can be remembered using the acronym, "STEEP." TF

6. Muhammad Yunus received the Nobel Prize in 2014 for his work developingmicrofinance to support economic development. TF

7. Basic international strategies are often classified according to their costs and the degree to

which they are responsive to pressures for localization.TF

8. World population in our lifetimes will rise to approximately 10 billion.TF

9. The acronym "MNE" stands for "multinational enterprise."TF

10. Economies in today's world are more or less in the same stage of development. TF

11. An example of an economic driver of globalization is free market capitalism. TF

12. Geert Hofstede was originally a psychologist for IBM when he began to study workplace culture in the late 1970's.TF

13. At the heart of our model known as "Determinants of Culture" we find the term "Norms and Value Systems," which reflect national cultural behavior.TF

14. China has helped 300,000,000 persons out of poverty over the last 30 years as described

in the film "People's Republic of Capitalism" by Ted Koppel.. TF

15. Politically, Iran is a democracy just like the US where church and state are separated by the national constitution.TF

16. In order to develop an appropriate market entry strategy, it is important to understand both the national and workplace cultures of a new market.TF

17.'Export-import' as a market entry strategy is less risky because banks guarantee both payment and delivery of goods using a document known as a "letter of credit." T F

18. Muhammad Yunus developed both microfinance and social business models. TF

19. Globalization is being impacted to an extent by nationalism as evidenced by the USA's increasing emphasis trade disputes/wars with China and the EU.T F

20. In Iran, as in many countries in the Mideast, gender segregation (male and female separation in public) is the norm.TF