Question 1

Which of the following best describes the term "preferential tariff"?

Accepted Answer

A)  The tariff applies only to luxury items. 
B)  The tariff limits the number of products that can be imported from particular countries. 
C)  Tax is placed on countertrades. 
D)  Tariff advantages are given to one country over others. 
A)  The tariff applies only to luxury items. 
B)  The tariff limits the number of products that can be imported from particular countries. 
C)  Tax is placed on countertrades. 
D)  Tariff advantages are given to one country over others.

Question 2

Our economy has become more sophisticated in recent decades and has developed into which of the following?

Accepted Answer

A)  an information economy 
B)  a technological economy 
C)  a globalized economy 
D)  a knowledge-based economy 
A)  an information economy 
B)  a technological economy 
C)  a globalized economy 
D)  a knowledge-based economy

Question 3

Which of the following organizations was formed with the original purpose of helping build infrastructure in developing countries and helping relieve the debt burden of these countries?

Accepted Answer

A)  the International Funding Bank 
B)  the Central Bank 
C)  the World Bank 
D)  the Bank of Canada 
A)  the International Funding Bank 
B)  the Central Bank 
C)  the World Bank 
D)  the Bank of Canada

Question 4

Besides tariffs, a government can use a number of other tools to restrict trade. Which of the following is a tool aimed at restricting trade?

Accepted Answer

A)  an embargo 
B)  a subsidy 
C)  an export quota 
D)  a currency exchange control 
A)  an embargo 
B)  a subsidy 
C)  an export quota 
D)  a currency exchange control

Question 5

China imposes a 45 percent tax on the market value of all chickens that are imported from other countries into China. What would be another name for this type of tax?

Accepted Answer

A)  a tariff 
B)  a quota system 
C)  a subsidy 
D)  an embargo 
A)  a tariff 
B)  a quota system 
C)  a subsidy 
D)  an embargo

Question 6

Which of the following are products that are bought from one country for use in another just as Canada buys coffee from Columbia?

Accepted Answer

A)  tariffs 
B)  tangibles 
C)  imports 
D)  exports 
A)  tariffs 
B)  tangibles 
C)  imports 
D)  exports

Question 7

In 2009, Albania exported $340 million and imported products valued at $1.5 billion. Albania would exhibit which of the following?

Accepted Answer

A)  a negative balance of trade 
B)  a negative trade deficit 
C)  an unfavourable balance of trade 
D)  a negative balance of payment 
A)  a negative balance of trade 
B)  a negative trade deficit 
C)  an unfavourable balance of trade 
D)  a negative balance of payment

Question 8

According to the text, why are some people opposed to trade and globalization?

Accepted Answer

A)  loss of national identities 
B)  less local businesses 
C)  rich countries get richer 
D)  damage to the environment 
A)  loss of national identities 
B)  less local businesses 
C)  rich countries get richer 
D)  damage to the environment

Question 9

Which of the following is an international bank that normally provides short-term loans to countries that are unable to meet their budgetary expenses?

Accepted Answer

A)  the Financial Investment Fund 
B)  the North Atlantic Trade Bank 
C)  the International Monetary Fund 
D)  the World International Federation 
A)  the Financial Investment Fund 
B)  the North Atlantic Trade Bank 
C)  the International Monetary Fund 
D)  the World International Federation

Question 10

Regardless of its size, a multinational corporation has only one corporate headquarters.

Accepted Answer

A) True 
 B)False

Question 11

An enterprise in which two or more companies or investors (including governments) share ownership of a business and its property rights is known as which of the following?

Accepted Answer

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

Question 12

The Uruguay Round of trade negotiation is an agreement that affects trade among only Latin American countries.

Accepted Answer

A) True 
 B)False

Question 13

In 2010, Albania exported $340 million and imported products valued at $1.5 billion. What does the difference between the dollar value of its exports and imports represent?

Accepted Answer

A)  its positive exchange rate 
B)  its positive balance of payment 
C)  its trade deficit 
D)  its trade surplus 
A)  its positive exchange rate 
B)  its positive balance of payment 
C)  its trade deficit 
D)  its trade surplus

Question 14

The difference in value between a country's imports and exports is called its balance of payments.

Accepted Answer

A) True 
 B)False

Question 15

How do imports benefit the Canadian consumer?

Accepted Answer

A)  better quality products 
B)  more selection 
C)  cheaper products 
D)  stronger dollar 
A)  better quality products 
B)  more selection 
C)  cheaper products 
D)  stronger dollar

Question 16

How does an infrastructure influence a country's economic development?

Accepted Answer

An infrastructure is the basic

Question 17

Which of the following is an argument for tariffs that protect domestic businesses and workers?

Accepted Answer

A)  the protection of industries and technology vital to defence preparedness 
B)  the maintenance of improved quality of products to protect consumers 
C)  the quota system argument 
D)  the protection of large, established businesses 
A)  the protection of industries and technology vital to defence preparedness 
B)  the maintenance of improved quality of products to protect consumers 
C)  the quota system argument 
D)  the protection of large, established businesses

Question 18

The World Bank's emphasis has recently shifted from helping to build the infrastructure of developing countries to which of the following goals?

Accepted Answer

A)  developing new agricultural techniques for developing countries 
B)  purchasing food for the population of developing countries 
C)  building highways, schools, and hospitals for developing countries 
D)  offering loans to help to relieve the debt burden of developing countries 
A)  developing new agricultural techniques for developing countries 
B)  purchasing food for the population of developing countries 
C)  building highways, schools, and hospitals for developing countries 
D)  offering loans to help to relieve the debt burden of developing countries

Question 19

Which of the following represents the total amount of money that flows into and out of a country?

Accepted Answer

A)  the balance of trade 
B)  the balance of payments 
C)  the federal deficit 
D)  the balance of exchange 
A)  the balance of trade 
B)  the balance of payments 
C)  the federal deficit 
D)  the balance of exchange

Question 20

The Uruguay Round of trade negotiations is best described as which of the following?

Accepted Answer

A)  It was the most ambitious global trade agreement ever negotiated. 
B)  It created the General Agreement on Tariffs and Trades (GATT). 
C)  It actually increased tariffs by 10 percent worldwide. 
D)  It was an agreement to lower trade barriers that existed in South American countries. 
A)  It was the most ambitious global trade agreement ever negotiated. 
B)  It created the General Agreement on Tariffs and Trades (GATT). 
C)  It actually increased tariffs by 10 percent worldwide. 
D)  It was an agreement to lower trade barriers that existed in South American countries.

Which of the following best describes the term "preferential tariff"?

Our economy has become more sophisticated in recent decades and has developed into which of the following?

Which of the following organizations was formed with the original purpose of helping build infrastructure in developing countries and helping relieve the debt burden of these countries?

Besides tariffs, a government can use a number of other tools to restrict trade. Which of the following is a tool aimed at restricting trade?

China imposes a 45 percent tax on the market value of all chickens that are imported from other countries into China. What would be another name for this type of tax?

Which of the following are products that are bought from one country for use in another just as Canada buys coffee from Columbia?

In 2009, Albania exported $340 million and imported products valued at $1.5 billion. Albania would exhibit which of the following?

According to the text, why are some people opposed to trade and globalization?

Which of the following is an international bank that normally provides short-term loans to countries that are unable to meet their budgetary expenses?

Regardless of its size, a multinational corporation has only one corporate headquarters.

An enterprise in which two or more companies or investors (including governments) share ownership of a business and its property rights is known as which of the following?

The Uruguay Round of trade negotiation is an agreement that affects trade among only Latin American countries.

In 2010, Albania exported $340 million and imported products valued at $1.5 billion. What does the difference between the dollar value of its exports and imports represent?

The difference in value between a country's imports and exports is called its balance of payments.

How do imports benefit the Canadian consumer?

How does an infrastructure influence a country's economic development?

Which of the following is an argument for tariffs that protect domestic businesses and workers?

The World Bank's emphasis has recently shifted from helping to build the infrastructure of developing countries to which of the following goals?

Which of the following represents the total amount of money that flows into and out of a country?

The Uruguay Round of trade negotiations is best described as 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

Which of the following best describes the term "preferential tariff"?

Our economy has become more sophisticated in recent decades and has developed into which of the following?

Which of the following organizations was formed with the original purpose of helping build infrastructure in developing countries and helping relieve the debt burden of these countries?

Besides tariffs, a government can use a number of other tools to restrict trade. Which of the following is a tool aimed at restricting trade?

China imposes a 45 percent tax on the market value of all chickens that are imported from other countries into China. What would be another name for this type of tax?

Which of the following are products that are bought from one country for use in another just as Canada buys coffee from Columbia?

In 2009, Albania exported $340 million and imported products valued at $1.5 billion. Albania would exhibit which of the following?

According to the text, why are some people opposed to trade and globalization?

Which of the following is an international bank that normally provides short-term loans to countries that are unable to meet their budgetary expenses?

Regardless of its size, a multinational corporation has only one corporate headquarters.

An enterprise in which two or more companies or investors (including governments) share ownership of a business and its property rights is known as which of the following?

The Uruguay Round of trade negotiation is an agreement that affects trade among only Latin American countries.

In 2010, Albania exported $340 million and imported products valued at $1.5 billion. What does the difference between the dollar value of its exports and imports represent?

The difference in value between a country's imports and exports is called its balance of payments.

How do imports benefit the Canadian consumer?

How does an infrastructure influence a country's economic development?

Which of the following is an argument for tariffs that protect domestic businesses and workers?

The World Bank's emphasis has recently shifted from helping to build the infrastructure of developing countries to which of the following goals?

Which of the following represents the total amount of money that flows into and out of a country?

The Uruguay Round of trade negotiations is best described as 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