Question 1

A weak euro is a disadvantage to European exporters.

Accepted Answer

A) True 
 B)False

Question 2

In order to regulate international commerce,the United States has entered into friendship,_____,and navigation (FCN)treaties with other nations.

Accepted Answer

A) capital planning 
B) contract 
C) commerce 
D) creative strategy 
A) capital planning 
B) contract 
C) commerce 
D) creative strategy

Question 3

Controversies regarding the World Trade Organization (WTO)include pollution and human rights abuses.

Accepted Answer

A) True 
 B)False

Question 4

The objective of quotas is to _____.

Accepted Answer

A) prevent dumping 
B) raise revenue for the government 
C) ban the importation of certain goods 
D) protect domestic industries 
A) prevent dumping 
B) raise revenue for the government 
C) ban the importation of certain goods 
D) protect domestic industries

Question 5

Sunil,CEO of Chem Globe International (CGI),has recognized the financial opportunities in China.Sunil has hired a foreign freight forwarder to coordinate selling CGI's products outside the United States.CGI is now involved in _____.

Accepted Answer

A) overseas marketing 
B) international production 
C) direct exporting 
D) foreign licensing 
A) overseas marketing 
B) international production 
C) direct exporting 
D) foreign licensing

Question 6

Samantha,a U.S.citizen,travels to Australia and spends $3,500 on souvenirs and clothing.She is contributing to the _____.

Accepted Answer

A) U.S.trade surplus 
B) growing exchange rate 
C) U.S.balance of payments surplus 
D) U.S.balance of payments deficit 
A) U.S.trade surplus 
B) growing exchange rate 
C) U.S.balance of payments surplus 
D) U.S.balance of payments deficit

Question 7

Since NAFTA,U.S.trade with Latin American countries has tripled.

Accepted Answer

A) True 
 B)False

Question 8

The WTO makes decisions that are binding on member nations involved in disputes.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following countries has experienced the greatest annual rate of GDP growth during the past decade?

Accepted Answer

A) United States 
B) China 
C) Canada 
D) Japan 
A) United States 
B) China 
C) Canada 
D) Japan

Question 10

Which of the following statements is true regarding comparative advantage?

Accepted Answer

A) Comparative advantage is becoming rare these days. 
B) Ensuring that its people are well educated is another way a nation can develop a comparative advantage in skilled human resources. 
C) Developing countries possess no comparative advantage. 
D) A nation must first possess an absolute advantage in a particular area before it can gain a comparative advantage. 
A) Comparative advantage is becoming rare these days. 
B) Ensuring that its people are well educated is another way a nation can develop a comparative advantage in skilled human resources. 
C) Developing countries possess no comparative advantage. 
D) A nation must first possess an absolute advantage in a particular area before it can gain a comparative advantage.

Question 11

Exchange rates are set by the various national governments.

Accepted Answer

A) True 
 B)False

Question 12

Which of these countries have a population of over a billion people each?

Accepted Answer

A) China and Russia 
B) India and Russia 
C) China and India 
D) United States and China 
A) China and Russia 
B) India and Russia 
C) China and India 
D) United States and China

Question 13

Aside from Internet access,a nation's infrastructure includes all facilities.

Accepted Answer

A) True 
 B)False

Question 14

The country of Velvita is experiencing severe competition to its domestic auto industry in the form of foreign imports.Many jobs are threatened.Velvita places a 25 percent tariff on the price of imported cars.This type of tariff is known as a(n)_____ tariff.

Accepted Answer

A) revenue 
B) quota 
C) infant industry 
D) protective 
A) revenue 
B) quota 
C) infant industry 
D) protective

Question 15

Due to its highly educated workforce and low labor costs,India has a comparative advantage in software development.

Accepted Answer

A) True 
 B)False

Question 16

________ is the most widely spoken language in the world

Accepted Answer

A) English 
B) Mandarin Chinese 
C) Hindi 
D) Spanish 
A) English 
B) Mandarin Chinese 
C) Hindi 
D) Spanish

Question 17

The United States has a trade surplus in which of the following items?

Accepted Answer

A) Oil 
B) Textiles 
C) Technology products 
D) Services 
A) Oil 
B) Textiles 
C) Technology products 
D) Services

Question 18

If a foreign company offers steel in the United States below the company's cost of production,the company might be accused of _____.

Accepted Answer

A) protective tariffs 
B) dumping 
C) a managed trade agreement 
D) quota 
A) protective tariffs 
B) dumping 
C) a managed trade agreement 
D) quota

Question 19

One effect of the North American Free Trade Agreement (NAFTA)is:

Accepted Answer

A) an increase in trade among the NAFTA member nations 
B) an increase in the number of low-wage jobs in the United States 
C) a decrease in trade among NAFTA member nations 
D) an increase in trade restrictions among the member nations 
A) an increase in trade among the NAFTA member nations 
B) an increase in the number of low-wage jobs in the United States 
C) a decrease in trade among NAFTA member nations 
D) an increase in trade restrictions among the member nations

Question 20

If a country that produces wine enacts a tariff on imported wine to match the country's domestic wine price,this would be an example of a protective tariff.

Accepted Answer

A) True 
 B)False

A weak euro is a disadvantage to European exporters.

In order to regulate international commerce,the United States has entered into friendship,_____,and navigation (FCN)treaties with other nations.

Controversies regarding the World Trade Organization (WTO)include pollution and human rights abuses.

The objective of quotas is to _____.

Sunil,CEO of Chem Globe International (CGI),has recognized the financial opportunities in China.Sunil has hired a foreign freight forwarder to coordinate selling CGI's products outside the United States.CGI is now involved in _____.

Samantha,a U.S.citizen,travels to Australia and spends $3,500 on souvenirs and clothing.She is contributing to the _____.

Since NAFTA,U.S.trade with Latin American countries has tripled.

The WTO makes decisions that are binding on member nations involved in disputes.

Which of the following countries has experienced the greatest annual rate of GDP growth during the past decade?

Which of the following statements is true regarding comparative advantage?

Exchange rates are set by the various national governments.

Which of these countries have a population of over a billion people each?

Aside from Internet access,a nation's infrastructure includes all facilities.

The country of Velvita is experiencing severe competition to its domestic auto industry in the form of foreign imports.Many jobs are threatened.Velvita places a 25 percent tariff on the price of imported cars.This type of tariff is known as a(n)_____ tariff.

Due to its highly educated workforce and low labor costs,India has a comparative advantage in software development.

________ is the most widely spoken language in the world

The United States has a trade surplus in which of the following items?

If a foreign company offers steel in the United States below the company's cost of production,the company might be accused of _____.

One effect of the North American Free Trade Agreement (NAFTA)is:

If a country that produces wine enacts a tariff on imported wine to match the country's domestic wine price,this would be an example of a protective tariff.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Business Today

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management,leadership,and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment,teamwork,and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Trends in E-Commerce

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Exam 4: Competing in World Markets

A weak euro is a disadvantage to European exporters.

In order to regulate international commerce,the United States has entered into friendship,_____,and navigation (FCN)treaties with other nations.

Controversies regarding the World Trade Organization (WTO)include pollution and human rights abuses.

The objective of quotas is to _____.

Sunil,CEO of Chem Globe International (CGI),has recognized the financial opportunities in China.Sunil has hired a foreign freight forwarder to coordinate selling CGI's products outside the United States.CGI is now involved in _____.

Samantha,a U.S.citizen,travels to Australia and spends $3,500 on souvenirs and clothing.She is contributing to the _____.

Since NAFTA,U.S.trade with Latin American countries has tripled.

The WTO makes decisions that are binding on member nations involved in disputes.

Which of the following countries has experienced the greatest annual rate of GDP growth during the past decade?

Which of the following statements is true regarding comparative advantage?

Exchange rates are set by the various national governments.

Which of these countries have a population of over a billion people each?

Aside from Internet access,a nation's infrastructure includes all facilities.

The country of Velvita is experiencing severe competition to its domestic auto industry in the form of foreign imports.Many jobs are threatened.Velvita places a 25 percent tariff on the price of imported cars.This type of tariff is known as a(n)_____ tariff.

Due to its highly educated workforce and low labor costs,India has a comparative advantage in software development.

________ is the most widely spoken language in the world

The United States has a trade surplus in which of the following items?

If a foreign company offers steel in the United States below the company's cost of production,the company might be accused of _____.

One effect of the North American Free Trade Agreement (NAFTA)is:

If a country that produces wine enacts a tariff on imported wine to match the country's domestic wine price,this would be an example of a protective tariff.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Business Today

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management,leadership,and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment,teamwork,and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Trends in E-Commerce

Filters