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48. According to the institution-based view of global business, which of the following statements is true? a. Firms should always insist on formalizing contracts right away when doing business in foreign countries. b. It is the growth of the firm that, in the aggregate, leads to the growth of the economy. c. It is imperative for managers to adhere to formal constraints in all situations. d. Formal constraints play a larger role in reducing uncertainty and providing constancy for managers and firms in situations of political turmoil.
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