Question 1

Rhodia sells mining equipment to Erbia in return for cigars. This is an example of _____.

Accepted Answer

A)  countertrade 
B)  direct exporting 
C)  foreign licensing 
D)  international production 
A)  countertrade 
B)  direct exporting 
C)  foreign licensing 
D)  international production

Question 2

A favorable balance of trade is known as a trade surplus.

Accepted Answer

A) True 
 B)False

Question 3

Cultural sensitivity is not as important of an issue in cyberspace as it is in other communication realms.

Accepted Answer

A) True 
 B)False

Question 4

A country's exchange rate is based on _____.

Accepted Answer

A)  the rate at which its currency can be exchanged for currencies of other countries 
B)  the number of foreign banks it has 
C)  tariffs and related trade restrictions 
D)  the relationship between its imports and exports 
A)  the rate at which its currency can be exchanged for currencies of other countries 
B)  the number of foreign banks it has 
C)  tariffs and related trade restrictions 
D)  the relationship between its imports and exports

Question 5

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 6

Countries with heavy debt burdens often avoid making countertrades.

Accepted Answer

A) True 
 B)False

Question 7

Economically speaking, unlike countries included in the EU, the United States is a national market with a single economy.

Accepted Answer

A) True 
 B)False

Question 8

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

Question 9

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 10

Veylia has imposed a quantitative restriction on the number of luxury automobiles imported in a year. What type of trade restriction has Veylia used?

Accepted Answer

A)  quota 
B)  embargo 
C)  protective tariff 
D)  revenue tariff 
A)  quota 
B)  embargo 
C)  protective tariff 
D)  revenue tariff

Question 11

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

Accepted Answer

A) True 
 B)False

Rhodia sells mining equipment to Erbia in return for cigars. This is an example of _____.

A favorable balance of trade is known as a trade surplus.

Cultural sensitivity is not as important of an issue in cyberspace as it is in other communication realms.

A country's exchange rate is based on _____.

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

Countries with heavy debt burdens often avoid making countertrades.

Economically speaking, unlike countries included in the EU, the United States is a national market with a single economy.

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 _____.

Which of the following statements is true regarding comparative advantage?

Veylia has imposed a quantitative restriction on the number of luxury automobiles imported in a year. What type of trade restriction has Veylia used?

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

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 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

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Exam 4: Competing in World Markets

Rhodia sells mining equipment to Erbia in return for cigars. This is an example of _____.

A favorable balance of trade is known as a trade surplus.

Cultural sensitivity is not as important of an issue in cyberspace as it is in other communication realms.

A country's exchange rate is based on _____.

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

Countries with heavy debt burdens often avoid making countertrades.

Economically speaking, unlike countries included in the EU, the United States is a national market with a single economy.

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 _____.

Which of the following statements is true regarding comparative advantage?

Veylia has imposed a quantitative restriction on the number of luxury automobiles imported in a year. What type of trade restriction has Veylia used?

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

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 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

Filters