Exam 2: the Global Marketplace and Governments’ Roles

The Caucasus Mountains along the northeastern border of Georgia make it difficult for the nation to trade with other former Soviet republics that are to its north and east.The mountain range acts as which type of barrier or deterrent?

Which of the following terms refers to a total prohibition against importing certain products?

Grand Metropolitan,a British company,purchased North American-based Pillsbury Co.in order to expand its product line and the market for its existing consumer products.Metropolitan's purchase was an example of which of the following activities?

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

In 2009,Argentina exported $25.3 billion and imported products valued at $9 billion.What does the difference between the dollar value of its exports and imports represent?

A countertrade in international terms pertains to the sale of retail goods that are usually sold "over the counter."

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

What are the benefits associated with free trade and globalization?

Which of the following terms best describes the reduction of value,if,during the past decade,the Canadian dollar's value has been reduced relative to most other world currencies?

Mines in South Africa produce diamonds and sell them to retailers in the United States.To South African miners,diamonds are an export.

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

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

The Ford Motor Company has invested $6 billion to build a "world car," the midsize Mondeo.The car was designed in the United States,Germany,and the United Kingdom to be adaptable to any market in the world.Which type of organization best describes Ford?

Canada,the United States,and Mexico signed the North American Free Trade Agreement (NAFTA).

Canadian manufacturers sell automobiles in South Korea.To South Korea,the automobiles represent which of the following?

The balance of payments is the summary of a country's financial transactions with another country.Which of the following would you expect to see in such a summary?

Which of the following activities is the least costly and least risky method for selling a product on the global market?

In 1997,Russia and Ukraine exported carbon steel plate into Canada at a price much lower than the countries charged for the identical steel in their home markets.Russia and Ukraine were engaged in which of the following activities?

Which of the following is a form of trading arrangement in which part or all of the payment for purchased goods or services is in the form of other goods and services?

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