Global Business Final
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Questions and Answers

Which countries were noted as early New World entrants in the wine industry during the 2000s?

  • Australia and California (correct)
  • China and Spain
  • South Africa and New Zealand
  • Chile and Argentina

    • What major change occurred in the global wine market's dynamics by 2009?

  • Declining wine exports to Asia
  • Stable production levels in New Zealand
  • Rising domestic consumption in Europe
  • Increased global exports from 11% to 32% of production (correct)

    • What is brand stretching in the context of alcohol marketing?

  • A focus on traditional branding strategies
  • Extending brand to non-alcoholic products (correct)
  • Minimizing marketing efforts
  • Creating a single product line

    • What trend was observed in traditional wine consumption in Europe from 1961 to 2009?

    <p>Decline of 50%-59% in per capita consumption</p> Signup and view all the answers

    Which organization is mentioned as providing institutional support in wine marketing for New Zealand?

    <p>Wine Institute of New Zealand</p> Signup and view all the answers

    Why might brand dilution occur in alcohol brand extensions?

    <p>From failed extensions into unrelated categories</p> Signup and view all the answers

    How did China emerge in the global wine market by 2009?

    <p>Its consumption rose to 7.6% of global consumption.</p> Signup and view all the answers

    What challenges did the New World wine producers face in maintaining leadership?

    <p>Insufficient modernization and adaptation</p> Signup and view all the answers

    What significant marketing technique involves promoting branded merchandise?

    <p>Alcohol-Branded Merchandise (ABM)</p> Signup and view all the answers

    What was identified as a risk when alcohol companies diversify their product lines?

    <p>Erosion of the core brand's identity</p> Signup and view all the answers

    Which country adopted creative branding strategies as a response to alcohol bans?

    <p>India</p> Signup and view all the answers

    What was the effect of 2008 EU regulatory changes on the wine market?

    <p>Focused on reducing structural oversupply</p> Signup and view all the answers

    Which factor contributed to the rise of significant marketing techniques in modern alcohol companies?

    <p>Growth of social media and product placements</p> Signup and view all the answers

    What characterizes fiat money?

    <p>It is a government-issued currency not backed by physical commodities.</p> Signup and view all the answers

    What was the primary purpose of the Bank of England when it was established?

    <p>To raise money for military purposes.</p> Signup and view all the answers

    How did Potosi's silver supply affect Spain's global standing?

    <p>It increased Spain's wealth and military power.</p> Signup and view all the answers

    What was NOT a role of the US Federal Reserve when it was formed?

    <p>Control the gold reserves.</p> Signup and view all the answers

    What significant change did the Bank of Canada bring after its establishment?

    <p>Centralized control over monetary supply.</p> Signup and view all the answers

    What did the Currency Snake allow for among member states?

    <p>Currencies to fluctuate within 2.25% of each other.</p> Signup and view all the answers

    Which policy was NOT proposed in the Delors Report?

    <p>The establishment of a single currency immediately.</p> Signup and view all the answers

    What was a major economic characteristic of the Bretton Woods system?

    <p>Fixed exchange rates between the US dollar and gold.</p> Signup and view all the answers

    Which of the following best describes the role of chartered banks in Canada?

    <p>They operate under government regulations to take deposits and make loans.</p> Signup and view all the answers

    What misconception might one have about the evolution of banks in Canada?

    <p>Failure of banks led to stricter regulations in the industry.</p> Signup and view all the answers

    What distinguishes Bitcoin and ApplePay in the context of money?

    <p>They function based on public trust.</p> Signup and view all the answers

    What impact did the financial sanctions have on Russia's economy?

    <p>Imports dropped to half their previous levels.</p> Signup and view all the answers

    What was a major focus of the Hague Summit of 1969?

    <p>Start discussions on European economic stability.</p> Signup and view all the answers

    What is a potential response from countries like Russia, China, and India regarding currency dependence?

    <p>Development of an alternative currency system.</p> Signup and view all the answers

    How did the fall of the Berlin Wall impact Germany's perspective on currency?

    <p>It fostered a desire for shared currency.</p> Signup and view all the answers

    What role does the U.S. Federal Reserve play in global finance?

    <p>It impacts global credit, currency values, and trade through its decisions on interest rates.</p> Signup and view all the answers

    How do countries with large foreign reserves generally hold those reserves?

    <p>In dollars or euros.</p> Signup and view all the answers

    What was highlighted by India's purchase of Russian coal?

    <p>A potential shift towards trading using alternative currencies.</p> Signup and view all the answers

    What was a main compromise of the Maastricht Treaty of 1992?

    <p>Common currency would start in Jan 1999.</p> Signup and view all the answers

    Which of the following was NOT part of the convergence criteria outlined in the Maastricht Treaty?

    <p>Increased national spending</p> Signup and view all the answers

    What was the status of the euro on January 1, 2002?

    <p>It became the official currency in 11 countries.</p> Signup and view all the answers

    What caused the British and Italian currencies to be excluded from the EMS?

    <p>Denmark's disagreement with the Maastricht Treaty.</p> Signup and view all the answers

    What notable action was taken by the EU on June 15th involving €20 billion?

    <p>Issued bonds through Next Generation EU to boost economies.</p> Signup and view all the answers

    What was one of the challenges the euro faced after the 2008 financial crisis?

    <p>Investors shifted their preference back to the US dollar.</p> Signup and view all the answers

    What impact did US protectionism under Trump and Biden have on the EU?

    <p>Stimulated an effort for strategic autonomy.</p> Signup and view all the answers

    As of now, how many EU countries utilize the euro among the 27 EU member states?

    <p>20 countries</p> Signup and view all the answers

    What was the main reason Canadians supported prohibition during WWI?

    <p>To conserve food and resources</p> Signup and view all the answers

    Which Canadian prime minister did not take action against prohibition despite its unpopularity in Quebec?

    <p>Wilfrid Laurier</p> Signup and view all the answers

    What was a major outcome of alcohol prohibition after WWI in Canada?

    <p>Black market alcohol trade flourished</p> Signup and view all the answers

    What significant change occurred in Canada regarding alcohol prohibition in 1927?

    <p>Prohibition was officially lifted</p> Signup and view all the answers

    What was one criticism faced by the LCBO shortly after its establishment?

    <p>It was believed to encourage youth drinking</p> Signup and view all the answers

    Which amendment in the United States reversed the prohibition of alcohol?

    <p>21st Amendment</p> Signup and view all the answers

    What notable change occurred at the LCBO in 1969?

    <p>Self-service was allowed</p> Signup and view all the answers

    How did the perception of drinking change in Canada after World War I?

    <p>It became regarded as a fundamental right</p> Signup and view all the answers

    What was a significant factor in the failure of prohibition in both Canada and the US?

    <p>The rise of organized crime</p> Signup and view all the answers

    Which group faced restrictions concerning working in LCBO stores until 1959?

    <p>Women and minorities</p> Signup and view all the answers

    What effect does a 15% increase in the dollar's value have on countries with dollar debt?

    <p>It increases their debt burden due to higher repayment costs.</p> Signup and view all the answers

    Which of the following countries are mentioned as struggling with high inflation and debt?

    <p>Sri Lanka and Argentina</p> Signup and view all the answers

    Why do countries prefer to borrow in their own currencies?

    <p>It helps them avoid risks associated with dollar dependence.</p> Signup and view all the answers

    What role does geopolitical support play in the resilience of the U.S. dollar system?

    <p>It ensures that the dollar remains stable during crises.</p> Signup and view all the answers

    What might cause the Federal Reserve to raise interest rates further?

    <p>A sustained strength in the U.S. economy.</p> Signup and view all the answers

    What is a potential consequence of a slowdown in the U.S. economy?

    <p>Diminished pressures on global markets.</p> Signup and view all the answers

    What can be inferred about larger economies in relation to dollar fluctuations?

    <p>They have become better at shielding themselves from fluctuations.</p> Signup and view all the answers

    What approach have emerging markets taken regarding dollar-based loans?

    <p>They are avoiding dollar-based loans to minimize risk.</p> Signup and view all the answers

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