Question 1

Countertrade is another term for international bartering.

Accepted Answer

A) True 
 B)False

Question 2

Dumping ______ domestic consumers and ______ domestic producers.

Accepted Answer

A)  harms, benefits 
B)  harms, harms 
C)  benefits, harms 
D)  benefits, benefits 
A)  harms, benefits 
B)  harms, harms 
C)  benefits, harms 
D)  benefits, benefits

Question 3

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 4

Complete the following using the terms listed below.
-A nation can have a(n) ______ in a product if it can supply it more efficiently and at a lower price.

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)Comparative advantage 
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)Comparative advantage

Question 5

Allison, a Canadian citizen, travels to Europe and spends $2,000 on souvenirs. She is contributing to the ______.

Accepted Answer

A)  Canadian trade surplus 
B)  Canadian balance of payments deficit 
C)  Canadian balance of payments surplus 
D)  growing exchange rate 
A)  Canadian trade surplus 
B)  Canadian balance of payments deficit 
C)  Canadian balance of payments surplus 
D)  growing exchange rate

Question 6

Canada tends to maintain a balance between exports and imports.

Accepted Answer

A) True 
 B)False

Question 7

Explain the concept of floating exchange rates. Identify factors that influence foreign exchange rates.

Accepted Answer

Currency values fluctuate, or "float," d

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Differentiate between balance of trade and balance of payments, and explain when a country experiences a deficit or a surplus trade and payment balances.

Accepted Answer

Balance of trade is the difference betwe

Question 10

Goto, Inc. is trying to establish a supplier relationship with a parts manufacturer in a small Asian country. Filipe, the purchasing manager, is attempting to get to know the general manager and staff of the company to help finalize the agreement. Filipe is attempting to overcome what type of barrier?

Accepted Answer

A)  physical barrier 
B)  tariff restriction 
C)  exchange controls 
D)  cultural barrier 
A)  physical barrier 
B)  tariff restriction 
C)  exchange controls 
D)  cultural barrier

Question 11

Many developing nations have lower per capita incomes than highly developed countries. This fact ______.

Accepted Answer

A)  indicates that they represent an insignificant market for most products 
B)  means that the developing nations are unlikely to experience much economic growth 
C)  does not mean there is little opportunity for sales 
D)  means that they are only likely to purchase low-tech merchandise 
A)  indicates that they represent an insignificant market for most products 
B)  means that the developing nations are unlikely to experience much economic growth 
C)  does not mean there is little opportunity for sales 
D)  means that they are only likely to purchase low-tech merchandise

Question 12

If the management of General Electric decided to expand into other international markets, what should they research into, in order to determine if the operations in those markets will be successful?

Accepted Answer

The management would have to research in

Question 13

All of the following constitute a country's infrastructure EXCEPT ______.

Accepted Answer

A)  political climate 
B)  communication 
C)  energy facilities 
D)  transportation 
A)  political climate 
B)  communication 
C)  energy facilities 
D)  transportation

Question 14

BMW and Toyota set up a factory in Brazil to produce minivans. Slightly different minivan versions are sold in Brazil-one as a Toyota and one as a BMW. This is an example of ______.

Accepted Answer

A)  a joint venture 
B)  direct exporting 
C)  foreign licensing 
D)  countertrade 
A)  a joint venture 
B)  direct exporting 
C)  foreign licensing 
D)  countertrade

Question 15

Discuss the advantages of the North American Free Trade Agreement (NAFTA).

Accepted Answer

NAFTA eliminates all trade barriers and

Question 16

If the Canadian dollar gets stronger relative to the euro, what is the effect for Canadian exports and imports to and from European countries?

Accepted Answer

If the dollar gets stronger relative to

Question 17

Computers that are manufactured in Japan and sold in Norway are categorized as Japanese ______.

Accepted Answer

A)  imports 
B)  exports 
C)  countertrades 
D)  outsourcing 
A)  imports 
B)  exports 
C)  countertrades 
D)  outsourcing

Question 18

Which of the following statements is true regarding absolute advantage?

Accepted Answer

A)  Developing countries possess no absolute advantage. 
B)  A nation must first possess a comparative advantage before it can possess an absolute advantage. 
C)  Absolute advantage is becoming rarer these days. 
D)  Every country possesses an absolute advantage. 
A)  Developing countries possess no absolute advantage. 
B)  A nation must first possess a comparative advantage before it can possess an absolute advantage. 
C)  Absolute advantage is becoming rarer these days. 
D)  Every country possesses an absolute advantage.

Question 19

Film distributors sometimes change movie titles when marketing overseas due to language or slang barriers. Studios usually allow modification of its product as part of a ______ strategy.

Accepted Answer

A)  multinational 
B)  multidomestic business 
C)  global 
D)  uniform 
A)  multinational 
B)  multidomestic business 
C)  global 
D)  uniform

Question 20

Spanish is the most widely spoken language in the world.

Accepted Answer

A) True 
 B)False

Countertrade is another term for international bartering.

Dumping domestic consumers and domestic producers.

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

Complete the following using the terms listed below. -A nation can have a(n) ______ in a product if it can supply it more efficiently and at a lower price.

Allison, a Canadian citizen, travels to Europe and spends $2,000 on souvenirs. She is contributing to the ______.

Canada tends to maintain a balance between exports and imports.

Explain the concept of floating exchange rates. Identify factors that influence foreign exchange rates.

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

Differentiate between balance of trade and balance of payments, and explain when a country experiences a deficit or a surplus trade and payment balances.

Many developing nations have lower per capita incomes than highly developed countries. This fact ______.

If the management of General Electric decided to expand into other international markets, what should they research into, in order to determine if the operations in those markets will be successful?

All of the following constitute a country's infrastructure EXCEPT ______.

BMW and Toyota set up a factory in Brazil to produce minivans. Slightly different minivan versions are sold in Brazil-one as a Toyota and one as a BMW. This is an example of ______.

Discuss the advantages of the North American Free Trade Agreement (NAFTA).

If the Canadian dollar gets stronger relative to the euro, what is the effect for Canadian exports and imports to and from European countries?

Computers that are manufactured in Japan and sold in Norway are categorized as Japanese ______.

Which of the following statements is true regarding absolute advantage?

Film distributors sometimes change movie titles when marketing overseas due to language or slang barriers. Studios usually allow modification of its product as part of a ______ strategy.

Spanish is the most widely spoken language in the world.

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

Exam 4: Competing in World Markets

Countertrade is another term for international bartering.

Dumping ______ domestic consumers and ______ domestic producers.

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

Complete the following using the terms listed below. -A nation can have a(n) ______ in a product if it can supply it more efficiently and at a lower price.

Allison, a Canadian citizen, travels to Europe and spends $2,000 on souvenirs. She is contributing to the ______.

Canada tends to maintain a balance between exports and imports.

Explain the concept of floating exchange rates. Identify factors that influence foreign exchange rates.

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

Differentiate between balance of trade and balance of payments, and explain when a country experiences a deficit or a surplus trade and payment balances.

Many developing nations have lower per capita incomes than highly developed countries. This fact ______.

If the management of General Electric decided to expand into other international markets, what should they research into, in order to determine if the operations in those markets will be successful?

All of the following constitute a country's infrastructure EXCEPT ______.

BMW and Toyota set up a factory in Brazil to produce minivans. Slightly different minivan versions are sold in Brazil-one as a Toyota and one as a BMW. This is an example of ______.

Discuss the advantages of the North American Free Trade Agreement (NAFTA).

If the Canadian dollar gets stronger relative to the euro, what is the effect for Canadian exports and imports to and from European countries?

Computers that are manufactured in Japan and sold in Norway are categorized as Japanese ______.

Which of the following statements is true regarding absolute advantage?

Film distributors sometimes change movie titles when marketing overseas due to language or slang barriers. Studios usually allow modification of its product as part of a ______ strategy.

Spanish is the most widely spoken language in the world.

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

Dumping domestic consumers and domestic producers.