Question 1

When firms develop products and marketing strategies that appeal to the customer tastes and buying habits of particular national markets,they are using a ________.

Accepted Answer

A)  global strategy 
B)  free trade strategy 
C)  uniform strategy 
D)  multidomestic strategy 
A)  global strategy 
B)  free trade strategy 
C)  uniform strategy 
D)  multidomestic strategy

Question 2

The North American Free Trade Agreement (NAFTA)is a trade accord designed to reduce trade restrictions between the two neighboring countries of the United States and Canada.

Accepted Answer

A) True 
 B)False

Question 3

The country Artesia exported products totaling $86 billion last year.During the year,Artesia ?imported products valued at $43 billion.Artesia has a(n)________.

Accepted Answer

A)  exchange rate of 2 to 1 
B)  trade deficit of $43 billion 
C)  trade surplus of $43 billion 
D)  unfavourable balance of payments 
A)  exchange rate of 2 to 1 
B)  trade deficit of $43 billion 
C)  trade surplus of $43 billion 
D)  unfavourable balance of payments

Question 4

If a foreign company offers steel in Canada below the company's cost of production,the company might be accused of ________.

Accepted Answer

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

Question 5

In 2010 Canada had a trade surplus with which of the following items?

Accepted Answer

A)  machinery and equipment 
B)  other consumer goods 
C)  agricultural and fishing products 
D)  automotive products 
A)  machinery and equipment 
B)  other consumer goods 
C)  agricultural and fishing products 
D)  automotive products

Question 6

_____ describes the fall of currency's value relative to other currencies.

Accepted Answer

A) offshoring 
B) balance of trade 
C) joint venture 
D) dumping 
E) imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)devaluation
K)exchange rate
L)absolute advantage
M)global strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)countertrade 
A) offshoring 
B) balance of trade 
C) joint venture 
D) dumping 
E) imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)devaluation
K)exchange rate
L)absolute advantage
M)global strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)countertrade

Question 7

Compared with Canada,Europeans value employee benefits more than low unemployment and business efficiency.

Accepted Answer

A) True 
 B)False

Question 8

A firm in the Czech Republic buys U.S.agricultural products,paying for the products with crude oil.This is an example of countertrade.

Accepted Answer

A) True 
 B)False

Question 9

A country's comparative advantage is measured only in manufactured goods.

Accepted Answer

A) True 
 B)False

Question 10

Along with transportation and energy facilities,access to the Internet is part of a nation's infrastructure.

Accepted Answer

A) True 
 B)False

Question 11

When Microsoft relocates it customer call center to India,it is using offshoring.

Accepted Answer

A) True 
 B)False

Question 12

The most common first step in engaging in international business is ____________.

Accepted Answer

A)  countertrade 
B)  foreign licensing 
C)  indirect exporting 
D)  direct exporting 
A)  countertrade 
B)  foreign licensing 
C)  indirect exporting 
D)  direct exporting

Question 13

Los Angeles-based PMI Telecom purchases cell phones manufactured in Asia and sells them in the United States.PMI is engaging in the international business activity known as ________.

Accepted Answer

A)  dumping 
B)  exporting 
C)  countertrade 
D)  importing 
A)  dumping 
B)  exporting 
C)  countertrade 
D)  importing

Question 14

A joint venture strategy provides the most basic level of international involvement,with the least risk and control.

Accepted Answer

A) True 
 B)False

Question 15

A(n)_____ develops and markets products to serve different needs and tastes of separate national markets.

Accepted Answer

A) offshoring 
B) balance of trade 
C) joint venture 
D) dumping 
E) imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)devaluation
K)exchange rate
L)absolute advantage
M)global strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)countertrade 
A) offshoring 
B) balance of trade 
C) joint venture 
D) dumping 
E) imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)devaluation
K)exchange rate
L)absolute advantage
M)global strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)countertrade

Question 16

Discuss why the World Trade Organization (WTO)has been the object of controversy in recent years.What concerns have been expressed?

Accepted Answer

Critics charge that the WTO's focus on l

Question 17

The ________ promotes trade by providing financial assistance and waiving debt payments.

Accepted Answer

A)  United Nations 
B)  European Union 
C)  World Bank 
D)  International Monetary Fund 
A)  United Nations 
B)  European Union 
C)  World Bank 
D)  International Monetary Fund

Question 18

A joint venture is a contractual form of international investment.

Accepted Answer

A) True 
 B)False

Question 19

A country that can produce goods for less than any other country has an absolute advantage.

Accepted Answer

A) True 
 B)False

Question 20

A global business strategy involves separate product and marketing strategies that vary from one nation to another.

Accepted Answer

A) True 
 B)False

When firms develop products and marketing strategies that appeal to the customer tastes and buying habits of particular national markets,they are using a ________.

The North American Free Trade Agreement (NAFTA)is a trade accord designed to reduce trade restrictions between the two neighboring countries of the United States and Canada.

The country Artesia exported products totaling $86 billion last year.During the year,Artesia ?imported products valued at $43 billion.Artesia has a(n)________.

If a foreign company offers steel in Canada below the company's cost of production,the company might be accused of ________.

In 2010 Canada had a trade surplus with which of the following items?

_____ describes the fall of currency's value relative to other currencies.

Compared with Canada,Europeans value employee benefits more than low unemployment and business efficiency.

A firm in the Czech Republic buys U.S.agricultural products,paying for the products with crude oil.This is an example of countertrade.

A country's comparative advantage is measured only in manufactured goods.

Along with transportation and energy facilities,access to the Internet is part of a nation's infrastructure.

When Microsoft relocates it customer call center to India,it is using offshoring.

The most common first step in engaging in international business is ____________.

Los Angeles-based PMI Telecom purchases cell phones manufactured in Asia and sells them in the United States.PMI is engaging in the international business activity known as ________.

A joint venture strategy provides the most basic level of international involvement,with the least risk and control.

A(n)_____ develops and markets products to serve different needs and tastes of separate national markets.

Discuss why the World Trade Organization (WTO)has been the object of controversy in recent years.What concerns have been expressed?

The ________ promotes trade by providing financial assistance and waiving debt payments.

A joint venture is a contractual form of international investment.

A country that can produce goods for less than any other country has an absolute advantage.

A global business strategy involves separate product and marketing strategies that vary from one nation to another.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

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 Labour 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

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Exam 4: Competing in World Markets

When firms develop products and marketing strategies that appeal to the customer tastes and buying habits of particular national markets,they are using a ________.

The North American Free Trade Agreement (NAFTA)is a trade accord designed to reduce trade restrictions between the two neighboring countries of the United States and Canada.

The country Artesia exported products totaling $86 billion last year.During the year,Artesia ?imported products valued at $43 billion.Artesia has a(n)________.

If a foreign company offers steel in Canada below the company's cost of production,the company might be accused of ________.

In 2010 Canada had a trade surplus with which of the following items?

_____ describes the fall of currency's value relative to other currencies.

Compared with Canada,Europeans value employee benefits more than low unemployment and business efficiency.

A firm in the Czech Republic buys U.S.agricultural products,paying for the products with crude oil.This is an example of countertrade.

A country's comparative advantage is measured only in manufactured goods.

Along with transportation and energy facilities,access to the Internet is part of a nation's infrastructure.

When Microsoft relocates it customer call center to India,it is using offshoring.

The most common first step in engaging in international business is ____________.

Los Angeles-based PMI Telecom purchases cell phones manufactured in Asia and sells them in the United States.PMI is engaging in the international business activity known as ________.

A joint venture strategy provides the most basic level of international involvement,with the least risk and control.

A(n)_____ develops and markets products to serve different needs and tastes of separate national markets.

Discuss why the World Trade Organization (WTO)has been the object of controversy in recent years.What concerns have been expressed?

The ________ promotes trade by providing financial assistance and waiving debt payments.

A joint venture is a contractual form of international investment.

A country that can produce goods for less than any other country has an absolute advantage.

A global business strategy involves separate product and marketing strategies that vary from one nation to another.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

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 Labour 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

Filters