Question 1

A firm that buys products made in another country for distribution and sale in its own country is

Accepted Answer

A) a multinational firm. 
B) a joint venture. 
C) an exporter. 
D) an international firm. 
E) an importer. 
A) a multinational firm. 
B) a joint venture. 
C) an exporter. 
D) an international firm. 
E) an importer.

Question 2

If the Mexican government puts a limit on the ounces of tequila being imported into Mexico,what has occurred?

Accepted Answer

A) The government has installed a protection plan for its own tequila producers and is encouraging imports. 
B) The government has installed both a protection plan for its own tequila producers and a quota. 
C) The government has installed a quota and an embargo. 
D) The government is encouraging imports and installed an embargo. 
E) The government installed an embargo and a protection plan. 
A) The government has installed a protection plan for its own tequila producers and is encouraging imports. 
B) The government has installed both a protection plan for its own tequila producers and a quota. 
C) The government has installed a quota and an embargo. 
D) The government is encouraging imports and installed an embargo. 
E) The government installed an embargo and a protection plan.

Question 3

What is selling a product for less abroad than in the producing nation called?

Accepted Answer

A) Discounting 
B) Discarding 
C) Dumping 
D) Concessions 
E) Selling off 
A) Discounting 
B) Discarding 
C) Dumping 
D) Concessions 
E) Selling off

Question 4

In 2018,Canada ranked in the top 10 in terms of international competitiveness,as reported by the World Economic Forum.

Accepted Answer

A) True 
 B)False

Question 5

As the value of a country's currency falls,its balance of trade should

Accepted Answer

A) decline. 
B) remain the same. 
C) improve. 
D) either increase or decrease. 
E) none of these. 
A) decline. 
B) remain the same. 
C) improve. 
D) either increase or decrease. 
E) none of these.

Question 6

If the Canadian dollar becomes stronger in relation to the Japanese yen,

Accepted Answer

A) the prices of all Canadian-made products would rise in Japan,and the prices of all Japanese-made products would fall in Canada. 
B) there would be no effect on the prices of Canadian-made products sold in Japan. 
C) the prices of all Canadian-made products would fall in Japan,and the prices of all Japanese-made products would rise in Canada. 
D) the prices of all Canadian-made products would fall in Japan,and the prices of all Japanese-made products would fall in Canada. 
E) the prices of all Canadian-made products would rise in Japan,and the prices of all Japanese-made products would rise in Canada. 
A) the prices of all Canadian-made products would rise in Japan,and the prices of all Japanese-made products would fall in Canada. 
B) there would be no effect on the prices of Canadian-made products sold in Japan. 
C) the prices of all Canadian-made products would fall in Japan,and the prices of all Japanese-made products would rise in Canada. 
D) the prices of all Canadian-made products would fall in Japan,and the prices of all Japanese-made products would fall in Canada. 
E) the prices of all Canadian-made products would rise in Japan,and the prices of all Japanese-made products would rise in Canada.

Question 7

What is any association of producers whose purpose is to control supply and prices for a given product called?

Accepted Answer

A) Conglomerate 
B) Syndicate 
C) Oligopoly 
D) Consortium 
E) Cartel 
A) Conglomerate 
B) Syndicate 
C) Oligopoly 
D) Consortium 
E) Cartel

Question 8

If Montrose Corp.purchases tangible assets in Germany,which international organizational structure is it using?

Accepted Answer

A) Independent agent 
B) Licensing agreement 
C) Foreign direct investment 
D) Branch office 
E) Strategic alliance 
A) Independent agent 
B) Licensing agreement 
C) Foreign direct investment 
D) Branch office 
E) Strategic alliance

Question 9

When a country imports more than it exports,it has a favourable balance of trade.

Accepted Answer

A) True 
 B)False

Question 10

A tariff is a tax levied on exported products.

Accepted Answer

A) True 
 B)False

Question 11

The aim of USMCA is to create a free trade area for Canada,the United States,and Western Europe.

Accepted Answer

A) True 
 B)False

Question 12

Derrido is an American firm that has produced several successful animated TV series in the United States.It is considering contracting with one or more international companies to market its products overseas. An executive at Derrido suggests that a contractual relationship will provide the company with a fair amount of control over how the foreign partner markets Derrido's product.Which of the following,if true,would strengthen this case?

Accepted Answer

A) Contractual relationships typically include limits and conditions on the foreign partner. 
B) Contractual relationships typically limit the responsibility of the originating firm. 
C) Contractual relationships can be complicated by international law. 
D) Foreign companies often have considerable familiarity with American culture. 
E) Foreign companies usually expect to be given latitude with how they market U.S.-made products. 
A) Contractual relationships typically include limits and conditions on the foreign partner. 
B) Contractual relationships typically limit the responsibility of the originating firm. 
C) Contractual relationships can be complicated by international law. 
D) Foreign companies often have considerable familiarity with American culture. 
E) Foreign companies usually expect to be given latitude with how they market U.S.-made products.

Question 13

When the value of the Canadian dollar drops,

Accepted Answer

A) both our imports and our exports become more expensive. 
B) our imports become cheaper and our exports become more expensive. 
C) our imports become more expensive and our exports become cheaper. 
D) both our imports and our exports become cheaper. 
E) there is no change in the price of our imports and our exports. 
A) both our imports and our exports become more expensive. 
B) our imports become cheaper and our exports become more expensive. 
C) our imports become more expensive and our exports become cheaper. 
D) both our imports and our exports become cheaper. 
E) there is no change in the price of our imports and our exports.

Question 14

Firms give individuals or companies in a foreign country the exclusive right to manufacture or market their products in that area.This is known as a strategic alliance.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements best describes the effects of subsidies?

Accepted Answer

A) A subsidy essentially lowers the prices of foreign goods rather than raising the prices of domestic goods. 
B) A subsidy essentially raises the prices of domestic goods rather than lowering the prices of foreign goods. 
C) A subsidy essentially lowers the prices of domestic goods rather than raising the prices of foreign goods. 
D) A subsidy essentially raises the prices of foreign goods while also raising the prices of domestic goods. 
E) A subsidy essentially lowers the prices of foreign goods while also lowering the prices of domestic goods. 
A) A subsidy essentially lowers the prices of foreign goods rather than raising the prices of domestic goods. 
B) A subsidy essentially raises the prices of domestic goods rather than lowering the prices of foreign goods. 
C) A subsidy essentially lowers the prices of domestic goods rather than raising the prices of foreign goods. 
D) A subsidy essentially raises the prices of foreign goods while also raising the prices of domestic goods. 
E) A subsidy essentially lowers the prices of foreign goods while also lowering the prices of domestic goods.

Question 16

The major reasons why Mexico has recently become a major manufacturing centre are

Accepted Answer

A) cheap labour and low transportation costs. 
B) elimination of quotas and tariffs and low tax rates. 
C) low tax rates and cheap labour. 
D) cheap labour and elimination of quotas and tariffs. 
E) low transportation costs and low tax rates. 
A) cheap labour and low transportation costs. 
B) elimination of quotas and tariffs and low tax rates. 
C) low tax rates and cheap labour. 
D) cheap labour and elimination of quotas and tariffs. 
E) low transportation costs and low tax rates.

Question 17

If a country's exports totalled $8 billion and its imports totalled $12 billion,then the country's balance of trade would be a surplus of $4 billion.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is correct with regard to social and cultural differences?

Accepted Answer

A) Canadians make fewer trips to supermarkets than Europeans do. 
B) Most differences between cultures are pretty obvious. 
C) Clothing manufacturers do not have to worry too much about cultural differences because fashion trends have rapidly become worldwide. 
D) Countries with growing populations tend to have a disproportionate number of older people. 
E) All of these are correct. 
A) Canadians make fewer trips to supermarkets than Europeans do. 
B) Most differences between cultures are pretty obvious. 
C) Clothing manufacturers do not have to worry too much about cultural differences because fashion trends have rapidly become worldwide. 
D) Countries with growing populations tend to have a disproportionate number of older people. 
E) All of these are correct.

Question 19

Which of the following is correct with respect to the BRICS countries?

Accepted Answer

A) Russia is the dominant country in the group. 
B) There is very little coordination between the BRICS countries,and they do not act like a unit. 
C) All of the BRICS countries put a heavy emphasis on exporting commodities. 
D) India is a leading service provider. 
E) Brazil is the most corrupt of the BRICS nations. 
A) Russia is the dominant country in the group. 
B) There is very little coordination between the BRICS countries,and they do not act like a unit. 
C) All of the BRICS countries put a heavy emphasis on exporting commodities. 
D) India is a leading service provider. 
E) Brazil is the most corrupt of the BRICS nations.

Question 20

What is protectionism?

Accepted Answer

Protectionism is the

A firm that buys products made in another country for distribution and sale in its own country is

If the Mexican government puts a limit on the ounces of tequila being imported into Mexico,what has occurred?

What is selling a product for less abroad than in the producing nation called?

In 2018,Canada ranked in the top 10 in terms of international competitiveness,as reported by the World Economic Forum.

As the value of a country's currency falls,its balance of trade should

If the Canadian dollar becomes stronger in relation to the Japanese yen,

What is any association of producers whose purpose is to control supply and prices for a given product called?

If Montrose Corp.purchases tangible assets in Germany,which international organizational structure is it using?

When a country imports more than it exports,it has a favourable balance of trade.

A tariff is a tax levied on exported products.

The aim of USMCA is to create a free trade area for Canada,the United States,and Western Europe.

When the value of the Canadian dollar drops,

Firms give individuals or companies in a foreign country the exclusive right to manufacture or market their products in that area.This is known as a strategic alliance.

Which of the following statements best describes the effects of subsidies?

The major reasons why Mexico has recently become a major manufacturing centre are

If a country's exports totalled $8 billion and its imports totalled $12 billion,then the country's balance of trade would be a surplus of $4 billion.

Which of the following is correct with regard to social and cultural differences?

Which of the following is correct with respect to the BRICS countries?

What is protectionism?

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 5: The Global Context of Business

A firm that buys products made in another country for distribution and sale in its own country is

If the Mexican government puts a limit on the ounces of tequila being imported into Mexico,what has occurred?

What is selling a product for less abroad than in the producing nation called?

In 2018,Canada ranked in the top 10 in terms of international competitiveness,as reported by the World Economic Forum.

As the value of a country's currency falls,its balance of trade should

If the Canadian dollar becomes stronger in relation to the Japanese yen,

What is any association of producers whose purpose is to control supply and prices for a given product called?

If Montrose Corp.purchases tangible assets in Germany,which international organizational structure is it using?

When a country imports more than it exports,it has a favourable balance of trade.

A tariff is a tax levied on exported products.

The aim of USMCA is to create a free trade area for Canada,the United States,and Western Europe.

When the value of the Canadian dollar drops,

Firms give individuals or companies in a foreign country the exclusive right to manufacture or market their products in that area.This is known as a strategic alliance.

Which of the following statements best describes the effects of subsidies?

The major reasons why Mexico has recently become a major manufacturing centre are

If a country's exports totalled $8 billion and its imports totalled $12 billion,then the country's balance of trade would be a surplus of $4 billion.

Which of the following is correct with regard to social and cultural differences?

Which of the following is correct with respect to the BRICS countries?

What is protectionism?

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters