Question 1

The two most important institutions that monitor international trade policies are _____.

Accepted Answer

A) NAFTA (North American Free Trade Association)and the World Bank 
B) the World Bank and the EU (European Union) 
C) GATT (General Agreement on Tariffs and Trade)and WTO (World Trade Organization) 
D) WTO (World Trade Organization)and NAFTA (North American Free Trade Association) 
A) NAFTA (North American Free Trade Association)and the World Bank 
B) the World Bank and the EU (European Union) 
C) GATT (General Agreement on Tariffs and Trade)and WTO (World Trade Organization) 
D) WTO (World Trade Organization)and NAFTA (North American Free Trade Association)

Question 2

Yokahama Sports Equipment Ltd. is a successful manufacturer and distributor of sports equipment in the Far East, Australia, and Europe. Top management sees attractive opportunities in the U.S. market because of the stable economy and government. In addition, of course, Americans have disposable income to spend and are willing to buy imported goods. Yokahama executives realize, however, that entering the U.S. market can be difficult and that they’ll need a well-planned strategy.
-The U.S.government may try to keep Yokahama's prices more competitive with those of American?
made goods by placing a tax,called an embargo,on Yokahama imports.

Accepted Answer

A) True 
 B)False

Question 3

If a foreign currency _____ relative to the U.S.dollar,Americans must pay more for goods and services bought from sellers in the country that issues the currency.

Accepted Answer

A) goes up 
B) goes down 
C) varies 
D) is unstable 
A) goes up 
B) goes down 
C) varies 
D) is unstable

Question 4

By the year 2015,international trade in merchandise and services had topped _____.

Accepted Answer

A) $11 billion 
B) $100 billion 
C) $11 trillion 
D) $21 trillion 
A) $11 billion 
B) $100 billion 
C) $11 trillion 
D) $21 trillion

Question 5

As a representative for an international trade organization,GATT (General Agreement on Tariffs and Trade)and the WTO (World Trade Organization)are the two most important trade-monitoring institutions with which Greco Pondiloupolous will probably work.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is generally not true of Americans?

Accepted Answer

A) They are less animated when talking than are people from southern European countries,such as Italy 
B) They are more casual about meeting times than are individuals from Latin American countries,such as Brazil 
C) They are less formal and reserved in their conversations than are people from northern European countries,such as England 
D) They like more personal space when conversing with others than do individuals from Middle Eastern countries,such as Kuwait 
A) They are less animated when talking than are people from southern European countries,such as Italy 
B) They are more casual about meeting times than are individuals from Latin American countries,such as Brazil 
C) They are less formal and reserved in their conversations than are people from northern European countries,such as England 
D) They like more personal space when conversing with others than do individuals from Middle Eastern countries,such as Kuwait

Question 7

Under NAFTA, (North American Free Trade Association)the United States,Canada,and Mexico are free to produce what each country produces best and trade its goods and services without devaluing its currency.

Accepted Answer

A) True 
 B)False

Question 8

If the U.S.dollar goes down relative to a foreign currency,buyers using that currency pay ____ for American goods and services.

Accepted Answer

A) less 
B) more 
C) in American currency 
D) exorbitant prices 
A) less 
B) more 
C) in American currency 
D) exorbitant prices

Question 9

Under an international licensing agreement,a foreign company pays a royalty fee to manufacture or sell your U.S.?
made products in its own country,using your name and your processes and perhaps your intellectual property.

Accepted Answer

A) True 
 B)False

Question 10

Japan's production and exporting expertise lies in the areas of electronics and automobiles.

Accepted Answer

A) True 
 B)False

Question 11

_____ is a necessary step in gearing your undergraduate education toward a career in international business.

Accepted Answer

A) Developing real expertise in one of the basic areas of business 
B) Developing your knowledge of international politics and economics 
C) Developing foreign-language skills 
D) All of these 
A) Developing real expertise in one of the basic areas of business 
B) Developing your knowledge of international politics and economics 
C) Developing foreign-language skills 
D) All of these

Question 12

When researching global business opportunities,firms must grasp the cultural,legal,economic,and _____ differences between the home country and the host country.

Accepted Answer

A) linguistic 
B) political 
C) religious 
D) hygienic 
A) linguistic 
B) political 
C) religious 
D) hygienic

Question 13

Yokahama Sports Equipment Ltd. is a successful manufacturer and distributor of sports equipment in the Far East, Australia, and Europe. Top management sees attractive opportunities in the U.S. market because of the stable economy and government. In addition, of course, Americans have disposable income to spend and are willing to buy imported goods. Yokahama executives realize, however, that entering the U.S. market can be difficult and that they’ll need a well-planned strategy.
-If Australia were to put a monthly limit on some Yokahama imports,it would be using a trade practice called a quota.

Accepted Answer

A) True 
 B)False

Question 14

Yokahama Sports Equipment Ltd. is a successful manufacturer and distributor of sports equipment in the Far East, Australia, and Europe. Top management sees attractive opportunities in the U.S. market because of the stable economy and government. In addition, of course, Americans have disposable income to spend and are willing to buy imported goods. Yokahama executives realize, however, that entering the U.S. market can be difficult and that they’ll need a well-planned strategy.
-If Yokahama turns to the WTO for the resolution of a dumping dispute,it runs the risk of the offended nation being authorized to set up its own trade barriers.

Accepted Answer

A) True 
 B)False

Question 15

Basically,nations trade:

Accepted Answer

A) because most nations tend to have yearly surpluses of goods. 
B) because no nation's economy can produce all of the goods and services that it needs. 
C) in order to maintain peaceful relationships with neighboring countries. 
D) in order to stockpile goods in case of national disaster or emergency. 
A) because most nations tend to have yearly surpluses of goods. 
B) because no nation's economy can produce all of the goods and services that it needs. 
C) in order to maintain peaceful relationships with neighboring countries. 
D) in order to stockpile goods in case of national disaster or emergency.

Question 16

According to some experts,American businesspeople are at a competitive disadvantage when they're prohibited from _____ foreign officials or businesspeople.

Accepted Answer

A) being friendly with 
B) giving bribes or undercover payments to 
C) exporting to and importing from 
D) moving in with 
A) being friendly with 
B) giving bribes or undercover payments to 
C) exporting to and importing from 
D) moving in with

Question 17

If a country buys more goods and services than it sells over a specified period of time,it has a _____.

Accepted Answer

A) trade surplus 
B) trade deficit 
C) unfavorable balance of payments 
D) favorable balance of trade 
A) trade surplus 
B) trade deficit 
C) unfavorable balance of payments 
D) favorable balance of trade

Question 18

High domestic ____ costs have made international contract manufacturing,or outsourcing,attractive to many U.S.companies.

Accepted Answer

A) building 
B) material 
C) labor 
D) marketing 
A) building 
B) material 
C) labor 
D) marketing

Question 19

The _____ prohibit(s)the distribution of bribes and other favors among American businesspeople conducting business with foreign officials and businesspeople.

Accepted Answer

A) Foreign Corrupt Practices Act 
B) Anti-Bribery Act 
C) Ten Commandments 
D) Sarbanes-Oxley principles 
A) Foreign Corrupt Practices Act 
B) Anti-Bribery Act 
C) Ten Commandments 
D) Sarbanes-Oxley principles

Question 20

_____ is not one of the purposes of the General Agreement on Tariffs and Trade.

Accepted Answer

A) Encouraging free trade 
B) Regulating and reducing tariffs 
C) Setting protectionist levels 
D) Providing a forum for resolving trade disputes 
A) Encouraging free trade 
B) Regulating and reducing tariffs 
C) Setting protectionist levels 
D) Providing a forum for resolving trade disputes

The two most important institutions that monitor international trade policies are _____.

If a foreign currency _____ relative to the U.S.dollar,Americans must pay more for goods and services bought from sellers in the country that issues the currency.

By the year 2015,international trade in merchandise and services had topped _____.

As a representative for an international trade organization,GATT (General Agreement on Tariffs and Trade)and the WTO (World Trade Organization)are the two most important trade-monitoring institutions with which Greco Pondiloupolous will probably work.

Which of the following is generally not true of Americans?

Under NAFTA, (North American Free Trade Association)the United States,Canada,and Mexico are free to produce what each country produces best and trade its goods and services without devaluing its currency.

If the U.S.dollar goes down relative to a foreign currency,buyers using that currency pay ____ for American goods and services.

Under an international licensing agreement,a foreign company pays a royalty fee to manufacture or sell your U.S.? made products in its own country,using your name and your processes and perhaps your intellectual property.

Japan's production and exporting expertise lies in the areas of electronics and automobiles.

_____ is a necessary step in gearing your undergraduate education toward a career in international business.

When researching global business opportunities,firms must grasp the cultural,legal,economic,and _____ differences between the home country and the host country.

Basically,nations trade:

According to some experts,American businesspeople are at a competitive disadvantage when they're prohibited from _____ foreign officials or businesspeople.

If a country buys more goods and services than it sells over a specified period of time,it has a _____.

High domestic ____ costs have made international contract manufacturing,or outsourcing,attractive to many U.S.companies.

The _____ prohibit(s)the distribution of bribes and other favors among American businesspeople conducting business with foreign officials and businesspeople.

_____ is not one of the purposes of the General Agreement on Tariffs and Trade.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

The Legal and Regulatory Environment of Business

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Exam 9: Business in a Global Environment

The two most important institutions that monitor international trade policies are _____.

If a foreign currency _____ relative to the U.S.dollar,Americans must pay more for goods and services bought from sellers in the country that issues the currency.

By the year 2015,international trade in merchandise and services had topped _____.

As a representative for an international trade organization,GATT (General Agreement on Tariffs and Trade)and the WTO (World Trade Organization)are the two most important trade-monitoring institutions with which Greco Pondiloupolous will probably work.

Which of the following is generally not true of Americans?

Under NAFTA, (North American Free Trade Association)the United States,Canada,and Mexico are free to produce what each country produces best and trade its goods and services without devaluing its currency.

If the U.S.dollar goes down relative to a foreign currency,buyers using that currency pay ____ for American goods and services.

Under an international licensing agreement,a foreign company pays a royalty fee to manufacture or sell your U.S.? made products in its own country,using your name and your processes and perhaps your intellectual property.

Japan's production and exporting expertise lies in the areas of electronics and automobiles.

_____ is a necessary step in gearing your undergraduate education toward a career in international business.

When researching global business opportunities,firms must grasp the cultural,legal,economic,and _____ differences between the home country and the host country.

Basically,nations trade:

According to some experts,American businesspeople are at a competitive disadvantage when they're prohibited from _____ foreign officials or businesspeople.

If a country buys more goods and services than it sells over a specified period of time,it has a _____.

High domestic ____ costs have made international contract manufacturing,or outsourcing,attractive to many U.S.companies.

The _____ prohibit(s)the distribution of bribes and other favors among American businesspeople conducting business with foreign officials and businesspeople.

_____ is not one of the purposes of the General Agreement on Tariffs and Trade.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters