Question 1

Having a global vision simply means having a willingness to sell outside one's national borders if, and when, the opportunity arises.

Accepted Answer

A) True 
 B)False

Question 2

The United States accounts for what percentage of Canada's exports?

Accepted Answer

A)  95% 
B)  85% 
C)  75% 
D)  65% 
A)  95% 
B)  85% 
C)  75% 
D)  65%

Question 3

The most fundamental reason for the growth in world trade is probably due to which of the following?

Accepted Answer

A)  cultural differences 
B)  the creation of free-trade areas 
C)  fluctuating exchange rates 
D)  the need for businesses to expand their markets 
A)  cultural differences 
B)  the creation of free-trade areas 
C)  fluctuating exchange rates 
D)  the need for businesses to expand their markets

Question 4

Exports create which of the following for the Canadian economy?

Accepted Answer

A)  foreign currency reserves 
B)  employment 
C)  good trade relations 
D)  a stronger currency 
A)  foreign currency reserves 
B)  employment 
C)  good trade relations 
D)  a stronger currency

Question 5

Canada buys copper from Chile's Escondido copper mine. The copper is used to make wiring for the Canadian telecommunications industry and for many other purposes. For Canada, the copper is an example of which of the following?

Accepted Answer

A)  tariff 
B)  export 
C)  embargo 
D)  import 
A)  tariff 
B)  export 
C)  embargo 
D)  import

Question 6

By using split-run magazines (modifying the U.S. editions so they contain Canadian ads), U.S. magazine publishers can offer lower rates to advertisers and sell the magazines for less money than Canadian publishers can. According to the CMPA, the U.S. magazine publishers are engaged in which of the following?

Accepted Answer

A)  unloading 
B)  dumping 
C)  export pricing 
D)  add-on pricing 
A)  unloading 
B)  dumping 
C)  export pricing 
D)  add-on pricing

Question 7

The World Trade Organization (WTO) is best described by which of the following?

Accepted Answer

A)  It includes all of the countries that signed the Uruguay Round. 
B)  It is controlled by the United States. 
C)  It has emerged as the world's most powerful institution for reducing trade barriers and opening markets. 
D)  It does not yet have an effective dispute settlement procedure but will before the year 2018. 
A)  It includes all of the countries that signed the Uruguay Round. 
B)  It is controlled by the United States. 
C)  It has emerged as the world's most powerful institution for reducing trade barriers and opening markets. 
D)  It does not yet have an effective dispute settlement procedure but will before the year 2018.

Question 8

What are the benefits associated with free trade and globalization?

Accepted Answer

A)  higher probability that inflation will arrest economic growth 
B)  prevents employers from using pay cuts to threaten employees 
C)  decreased per capita income 
D)  an open economy that spurs innovation 
A)  higher probability that inflation will arrest economic growth 
B)  prevents employers from using pay cuts to threaten employees 
C)  decreased per capita income 
D)  an open economy that spurs innovation

Question 9

Which of the following is part of a nation's infrastructure?

Accepted Answer

A)  its railroads 
B)  its lakes 
C)  its rivers 
D)  its mountain ranges 
A)  its railroads 
B)  its lakes 
C)  its rivers 
D)  its mountain ranges

Question 10

Which of the following countries are in the Mercosur free-trade zone?

Accepted Answer

A)  Panama, Brazil, Chile 
B)  Argentina, Brazil, Venezuela 
C)  Venezuela, Columbia, Ecuador 
D)  Argentina, Peru, Venezuela 
A)  Panama, Brazil, Chile 
B)  Argentina, Brazil, Venezuela 
C)  Venezuela, Columbia, Ecuador 
D)  Argentina, Peru, Venezuela

Question 11

Which of the following is defined as the difference in value of a country's exports and imports over a period of time?

Accepted Answer

A)  federal deficit 
B)  federal surplus 
C)  balance of trade 
D)  balance of exchange 
A)  federal deficit 
B)  federal surplus 
C)  balance of trade 
D)  balance of exchange

Question 12

When a French company brings its patents on digital telephone switches, and Bell Canada provides the marketing know-how to a business relationship, which of the following arrangements is occurring?

Accepted Answer

A)  a joint venture 
B)  an international partnership 
C)  an oligopoly 
D)  a joint cooperative 
A)  a joint venture 
B)  an international partnership 
C)  an oligopoly 
D)  a joint cooperative

Question 13

Which of the following is described by the fact that Algeria includes 3,973 km of railroads, 104,000 km of roads, and 54 paved airports?

Accepted Answer

A)  infrastructure 
B)  natural advantage 
C)  ethnocentrism 
D)  cultural environment 
A)  infrastructure 
B)  natural advantage 
C)  ethnocentrism 
D)  cultural environment

Question 14

Which of the following are laws that require a company earning foreign currency from its exports to sell the foreign currency to a control agency, usually a central bank?

Accepted Answer

A)  currency policies 
B)  laws of balanced exchange 
C)  favourable exchange regulations 
D)  exchange controls 
A)  currency policies 
B)  laws of balanced exchange 
C)  favourable exchange regulations 
D)  exchange controls

Question 15

Which of the following is one of the advantages associated with multinational corporations?

Accepted Answer

A)  They can take advantage of tax variations. 
B)  They have the ability to shift employees from one country to another. 
C)  They can shift their currency reserves easily. 
D)  They can hire employees from many different countries. 
A)  They can take advantage of tax variations. 
B)  They have the ability to shift employees from one country to another. 
C)  They can shift their currency reserves easily. 
D)  They can hire employees from many different countries.

Question 16

Which of the following terms means that prices of currencies vary based upon demand and supply of that currency?

Accepted Answer

A)  variable trade 
B)  the international trade rate 
C)  the floating exchange rate 
D)  variable costs 
A)  variable trade 
B)  the international trade rate 
C)  the floating exchange rate 
D)  variable costs

Question 17

What three countries were the initial signers of the North American Free Trade Agreement?

Accepted Answer

Canada, Un

Question 18

Developed nations account for what percentage of world trade?

Accepted Answer

A)  60% 
B)  70% 
C)  80% 
D)  90% 
A)  60% 
B)  70% 
C)  80% 
D)  90%

Question 19

Imagine you are trying to gather the information needed to calculate the balance of payments for an Eastern European country. To do your calculations, you would need to have information on which of the following?

Accepted Answer

A)  military expenditures to train its forces at home 
B)  its current inflation rate 
C)  its corporate tax rates 
D)  foreign aid the country receives 
A)  military expenditures to train its forces at home 
B)  its current inflation rate 
C)  its corporate tax rates 
D)  foreign aid the country receives

Question 20

A country that imports more goods than it exports is said to exhibit which of the following?

Accepted Answer

A)  a positive trade surplus 
B)  an unfavourable balance of trade 
C)  a favourable balance of trade 
D)  a positive balance of payment 
A)  a positive trade surplus 
B)  an unfavourable balance of trade 
C)  a favourable balance of trade 
D)  a positive balance of payment

Having a global vision simply means having a willingness to sell outside one's national borders if, and when, the opportunity arises.

The United States accounts for what percentage of Canada's exports?

The most fundamental reason for the growth in world trade is probably due to which of the following?

Exports create which of the following for the Canadian economy?

Canada buys copper from Chile's Escondido copper mine. The copper is used to make wiring for the Canadian telecommunications industry and for many other purposes. For Canada, the copper is an example of which of the following?

The World Trade Organization (WTO) is best described by which of the following?

What are the benefits associated with free trade and globalization?

Which of the following is part of a nation's infrastructure?

Which of the following countries are in the Mercosur free-trade zone?

Which of the following is defined as the difference in value of a country's exports and imports over a period of time?

When a French company brings its patents on digital telephone switches, and Bell Canada provides the marketing know-how to a business relationship, which of the following arrangements is occurring?

Which of the following is described by the fact that Algeria includes 3,973 km of railroads, 104,000 km of roads, and 54 paved airports?

Which of the following are laws that require a company earning foreign currency from its exports to sell the foreign currency to a control agency, usually a central bank?

Which of the following is one of the advantages associated with multinational corporations?

Which of the following terms means that prices of currencies vary based upon demand and supply of that currency?

What three countries were the initial signers of the North American Free Trade Agreement?

Developed nations account for what percentage of world trade?

Imagine you are trying to gather the information needed to calculate the balance of payments for an Eastern European country. To do your calculations, you would need to have information on which of the following?

A country that imports more goods than it exports is said to exhibit which of the following?

Political Environment

Economic Environment

Social Environment

Technological Environment

Entrepreneurship and Small Business

Understanding the Business

Forms of Business Ownership

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Marketing

Creating Marketing Strategies

Achieving World-class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance

Filters

Exam 5: International Environment

Having a global vision simply means having a willingness to sell outside one's national borders if, and when, the opportunity arises.

The United States accounts for what percentage of Canada's exports?

The most fundamental reason for the growth in world trade is probably due to which of the following?

Exports create which of the following for the Canadian economy?

Canada buys copper from Chile's Escondido copper mine. The copper is used to make wiring for the Canadian telecommunications industry and for many other purposes. For Canada, the copper is an example of which of the following?

The World Trade Organization (WTO) is best described by which of the following?

What are the benefits associated with free trade and globalization?

Which of the following is part of a nation's infrastructure?

Which of the following countries are in the Mercosur free-trade zone?

Which of the following is defined as the difference in value of a country's exports and imports over a period of time?

When a French company brings its patents on digital telephone switches, and Bell Canada provides the marketing know-how to a business relationship, which of the following arrangements is occurring?

Which of the following is described by the fact that Algeria includes 3,973 km of railroads, 104,000 km of roads, and 54 paved airports?

Which of the following are laws that require a company earning foreign currency from its exports to sell the foreign currency to a control agency, usually a central bank?

Which of the following is one of the advantages associated with multinational corporations?

Which of the following terms means that prices of currencies vary based upon demand and supply of that currency?

What three countries were the initial signers of the North American Free Trade Agreement?

Developed nations account for what percentage of world trade?

Imagine you are trying to gather the information needed to calculate the balance of payments for an Eastern European country. To do your calculations, you would need to have information on which of the following?

A country that imports more goods than it exports is said to exhibit which of the following?

Political Environment

Economic Environment

Social Environment

Technological Environment

Entrepreneurship and Small Business

Understanding the Business

Forms of Business Ownership

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Marketing

Creating Marketing Strategies

Achieving World-class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance

Filters