Question 1

During the past decade,which of the following countries has experienced the greatest annual rate of GDP growth?

Accepted Answer

A) United States 
B) China 
C) Canada 
D) Japan 
A) United States 
B) China 
C) Canada 
D) Japan

Question 2

The objective of quotas is to _____.

Accepted Answer

A) prevent dumping 
B) raise revenue for the government 
C) ban the importation of certain goods 
D) protect domestic industries 
A) prevent dumping 
B) raise revenue for the government 
C) ban the importation of certain goods 
D) protect domestic industries

Question 3

Countries with heavy debt burdens often avoid making countertrades.

Accepted Answer

A) True 
 B)False

Question 4

Indirect exporting involves producing a component that becomes part of another product sold in foreign markets.

Accepted Answer

A) True 
 B)False

Question 5

A small handicrafts producer enters an agreement with a large corporation to take advantage of its international presence to sell local handicrafts in the foreign market.This is an example of _____.

Accepted Answer

A) a joint venture 
B) export trading 
C) export management 
D) an offset agreement 
A) a joint venture 
B) export trading 
C) export management 
D) an offset agreement

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

A nation's exchange rate is the rate at which a nation's currency can be exchanged for the currencies of other nations.

Accepted Answer

A) True 
 B)False

Question 8

Complete the following using the terms listed.
-A country has _____ in the marketing of a product if it has a monopolistic position or it produces the product at the lowest cost.

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 business 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 business strategy
N)Quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage

Question 9

Patents,trademarks,and intellectual property are important concerns in the _______environment.

Accepted Answer

A) economic 
B) political 
C) cultural 
D) legal 
A) economic 
B) political 
C) cultural 
D) legal

Question 10

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 11

Complete the following using the terms listed.
-A(n)_____ is a tax levied on imported products.

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 business 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 business strategy
N)Quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage

Question 12

A balance of payments deficit occurs when _____.

Accepted Answer

A) the net inflow of money from abroad exceeds the net outflows of money to other countries 
B) imports exceed exports 
C) the net outflow of money from a country exceeds the net inflow of money from abroad 
D) exports exceed imports 
A) the net inflow of money from abroad exceeds the net outflows of money to other countries 
B) imports exceed exports 
C) the net outflow of money from a country exceeds the net inflow of money from abroad 
D) exports exceed imports

Question 13

A global business strategy involves separate product and marketing strategies that vary from one nation to another.

Accepted Answer

A) True 
 B)False

Question 14

Define balance of trade and its relation to trade surplus and trade deficit.

Accepted Answer

A nation's balance of trade is the diffe

Question 15

Vvey Inc. ,a pet accessories manufacturer,exports large quantities of its products to the United States and sells them at lower prices than it charges in its home market.Vvey Inc.could be accused of _____.

Accepted Answer

A) exporting 
B) embargo 
C) dumping 
D) quota 
A) exporting 
B) embargo 
C) dumping 
D) quota

Question 16

Complete the following using the terms listed.
-A country's _____ is the difference between its exports and imports.

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 business 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 business strategy
N)Quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage

Question 17

In order to regulate international commerce,the United States has entered into friendship,_____,and navigation (FCN)treaties with other nations.

Accepted Answer

A) capital planning 
B) contract 
C) commerce 
D) creative strategy 
A) capital planning 
B) contract 
C) commerce 
D) creative strategy

Question 18

A nation's infrastructure includes all facilities aside from Internet access.

Accepted Answer

A) True 
 B)False

Question 19

When a company operates in other countries,it _____ risk.

Accepted Answer

A) has no impact on 
B) eliminates 
C) controls 
D) spreads out 
A) has no impact on 
B) eliminates 
C) controls 
D) spreads out

Question 20

A country has a good chance of selling more of its goods abroad if it _____.

Accepted Answer

A) increases the value of its currency 
B) more tourists decide to travel abroad 
C) devalues its currency 
D) sets high tariffs on imported goods 
A) increases the value of its currency 
B) more tourists decide to travel abroad 
C) devalues its currency 
D) sets high tariffs on imported goods

During the past decade,which of the following countries has experienced the greatest annual rate of GDP growth?

The objective of quotas is to _____.

Countries with heavy debt burdens often avoid making countertrades.

Indirect exporting involves producing a component that becomes part of another product sold in foreign markets.

A small handicrafts producer enters an agreement with a large corporation to take advantage of its international presence to sell local handicrafts in the foreign market.This is an example of _____.

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

A nation's exchange rate is the rate at which a nation's currency can be exchanged for the currencies of other nations.

Complete the following using the terms listed. -A country has _____ in the marketing of a product if it has a monopolistic position or it produces the product at the lowest cost.

Patents,trademarks,and intellectual property are important concerns in the _______environment.

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 _____.

Complete the following using the terms listed. -A(n)_____ is a tax levied on imported products.

A balance of payments deficit occurs when _____.

A global business strategy involves separate product and marketing strategies that vary from one nation to another.

Define balance of trade and its relation to trade surplus and trade deficit.

Vvey Inc. ,a pet accessories manufacturer,exports large quantities of its products to the United States and sells them at lower prices than it charges in its home market.Vvey Inc.could be accused of _____.

Complete the following using the terms listed. -A country's _____ is the difference between its exports and imports.

In order to regulate international commerce,the United States has entered into friendship,_____,and navigation (FCN)treaties with other nations.

A nation's infrastructure includes all facilities aside from Internet access.

When a company operates in other countries,it _____ risk.

A country has a good chance of selling more of its goods abroad if it _____.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Todays 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

Trends in E-Commerce

Filters

Exam 4: Competing in World Markets

During the past decade,which of the following countries has experienced the greatest annual rate of GDP growth?

The objective of quotas is to _____.

Countries with heavy debt burdens often avoid making countertrades.

Indirect exporting involves producing a component that becomes part of another product sold in foreign markets.

A small handicrafts producer enters an agreement with a large corporation to take advantage of its international presence to sell local handicrafts in the foreign market.This is an example of _____.

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

A nation's exchange rate is the rate at which a nation's currency can be exchanged for the currencies of other nations.

Complete the following using the terms listed. -A country has _____ in the marketing of a product if it has a monopolistic position or it produces the product at the lowest cost.

Patents,trademarks,and intellectual property are important concerns in the _______environment.

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 _____.

Complete the following using the terms listed. -A(n)_____ is a tax levied on imported products.

A balance of payments deficit occurs when _____.

A global business strategy involves separate product and marketing strategies that vary from one nation to another.

Define balance of trade and its relation to trade surplus and trade deficit.

Vvey Inc. ,a pet accessories manufacturer,exports large quantities of its products to the United States and sells them at lower prices than it charges in its home market.Vvey Inc.could be accused of _____.

Complete the following using the terms listed. -A country's _____ is the difference between its exports and imports.

In order to regulate international commerce,the United States has entered into friendship,_____,and navigation (FCN)treaties with other nations.

A nation's infrastructure includes all facilities aside from Internet access.

When a company operates in other countries,it _____ risk.

A country has a good chance of selling more of its goods abroad if it _____.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Todays 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

Trends in E-Commerce

Filters