Question 1

One of the most significant developments in foreign exchange has been the introduction of the euro.Explain why.

Accepted Answer

Officially introduced in 2002,it is used

Question 2

When the value of one country's currency relative to that of another varies with market conditions,which of the following exists?

Accepted Answer

A)  floating exchange rate 
B)  fixed exchange rate 
C)  negative balance of trade 
D)  international exchange rate 
A)  floating exchange rate 
B)  fixed exchange rate 
C)  negative balance of trade 
D)  international exchange rate

Question 3

The Oil Producing and Exporting Countries (OPEC)is an example of a ________.

Accepted Answer

A)  foreign direct investment 
B)  cartel 
C)  quota 
D)  subsidy 
A)  foreign direct investment 
B)  cartel 
C)  quota 
D)  subsidy

Question 4

When a country's imports exceed its exports,that country experiences a trade surplus.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is NOT a major world economic marketplace?

Accepted Answer

A)  North America 
B)  Europe 
C)  Pacific Asia 
D)  Latin America 
A)  North America 
B)  Europe 
C)  Pacific Asia 
D)  Latin America

Question 6

Saudi Arabia has vast oil resources.This is an example of ________.

Accepted Answer

A)  viral marketing 
B)  national competitive advantage 
C)  comparative advantage 
D)  absolute advantage 
A)  viral marketing 
B)  national competitive advantage 
C)  comparative advantage 
D)  absolute advantage

Question 7

Which of the following buys products in foreign markets and then sells them for resale in its home country?

Accepted Answer

A)  importer 
B)  exporter 
C)  international firm 
D)  direct investor 
A)  importer 
B)  exporter 
C)  international firm 
D)  direct investor

Question 8

Explain a floating exchange rate.

Accepted Answer

A floating exchange rate allow

Question 9

Explain how a firm may have more direct control with a branch office than it does over agents or license holders.

Accepted Answer

In a branch office,a firm send

Question 10

Imports of Canadian timber are limited to 14.7 billion board feet per year.This is an example of a(n)________.

Accepted Answer

A)  tariff 
B)  embargo 
C)  subsidy 
D)  quota 
A)  tariff 
B)  embargo 
C)  subsidy 
D)  quota

Question 11

________ is the international organization strategy of finding a partner in the country in which a business would like to conduct business.

Accepted Answer

A)  Opening a branch office 
B)  Developing a strategic alliance 
C)  Forming an independent agency 
D)  Creating a direct investment 
A)  Opening a branch office 
B)  Developing a strategic alliance 
C)  Forming an independent agency 
D)  Creating a direct investment

Question 12

Critics of protectionism charge that it drives up prices by reducing competition.

Accepted Answer

A) True 
 B)False

Question 13

What is the difference between a quota and a tariff?

Accepted Answer

A quota restricts the number o

Question 14

The World Trade Organization (WTO)was created to encourage international trade.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following types of payments are usually received by an exporter as an ongoing payment calculated as a percentage of the license holder's sales?

Accepted Answer

A)  flat fees 
B)  royalties 
C)  agent fees 
D)  direct investments 
A)  flat fees 
B)  royalties 
C)  agent fees 
D)  direct investments

Question 16

The single largest trading partner of the United States is China.

Accepted Answer

A) True 
 B)False

Question 17

Since the creation of NAFTA,U.S.exports to Mexico have increased,several hundred thousand new jobs have been created,and Mexico has passed Japan as the second-largest buyer of U.S.goods.

Accepted Answer

A) True 
 B)False

Question 18

Country Z can produce pig iron more efficiently than any other goods.Country Z has a ________ in pig iron.

Accepted Answer

A)  absolute advantage 
B)  national competitive advantage 
C)  comparative advantage 
D)  monopolistic advantage 
A)  absolute advantage 
B)  national competitive advantage 
C)  comparative advantage 
D)  monopolistic advantage

Question 19

Many of the 10 largest export markets for the United States are ________.

Accepted Answer

A)  low-income countries 
B)  low middle-income countries 
C)  also major import markets for the US 
D)  not exporters themselves 
A)  low-income countries 
B)  low middle-income countries 
C)  also major import markets for the US 
D)  not exporters themselves

Question 20

Might operating in a strategic alliance be considered more risky,more involved,and more complex than operating under a licensing arrangement? Explain.

Accepted Answer

With a licensing arrangement,a firm give

One of the most significant developments in foreign exchange has been the introduction of the euro.Explain why.

When the value of one country's currency relative to that of another varies with market conditions,which of the following exists?

The Oil Producing and Exporting Countries (OPEC)is an example of a ________.

When a country's imports exceed its exports,that country experiences a trade surplus.

Which of the following is NOT a major world economic marketplace?

Saudi Arabia has vast oil resources.This is an example of ________.

Which of the following buys products in foreign markets and then sells them for resale in its home country?

Explain a floating exchange rate.

Explain how a firm may have more direct control with a branch office than it does over agents or license holders.

Imports of Canadian timber are limited to 14.7 billion board feet per year.This is an example of a(n)________.

________ is the international organization strategy of finding a partner in the country in which a business would like to conduct business.

Critics of protectionism charge that it drives up prices by reducing competition.

What is the difference between a quota and a tariff?

The World Trade Organization (WTO)was created to encourage international trade.

Which of the following types of payments are usually received by an exporter as an ongoing payment calculated as a percentage of the license holder's sales?

The single largest trading partner of the United States is China.

Since the creation of NAFTA,U.S.exports to Mexico have increased,several hundred thousand new jobs have been created,and Mexico has passed Japan as the second-largest buyer of U.S.goods.

Country Z can produce pig iron more efficiently than any other goods.Country Z has a ________ in pig iron.

Many of the 10 largest export markets for the United States are ________.

Might operating in a strategic alliance be considered more risky,more involved,and more complex than operating under a licensing arrangement? Explain.

The U.S.Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Business Management

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters

Exam 4: The Global Context of Business

One of the most significant developments in foreign exchange has been the introduction of the euro.Explain why.

When the value of one country's currency relative to that of another varies with market conditions,which of the following exists?

The Oil Producing and Exporting Countries (OPEC)is an example of a ________.

When a country's imports exceed its exports,that country experiences a trade surplus.

Which of the following is NOT a major world economic marketplace?

Saudi Arabia has vast oil resources.This is an example of ________.

Which of the following buys products in foreign markets and then sells them for resale in its home country?

Explain a floating exchange rate.

Explain how a firm may have more direct control with a branch office than it does over agents or license holders.

Imports of Canadian timber are limited to 14.7 billion board feet per year.This is an example of a(n)________.

________ is the international organization strategy of finding a partner in the country in which a business would like to conduct business.

Critics of protectionism charge that it drives up prices by reducing competition.

What is the difference between a quota and a tariff?

The World Trade Organization (WTO)was created to encourage international trade.

Which of the following types of payments are usually received by an exporter as an ongoing payment calculated as a percentage of the license holder's sales?

The single largest trading partner of the United States is China.

Since the creation of NAFTA,U.S.exports to Mexico have increased,several hundred thousand new jobs have been created,and Mexico has passed Japan as the second-largest buyer of U.S.goods.

Country Z can produce pig iron more efficiently than any other goods.Country Z has a ________ in pig iron.

Many of the 10 largest export markets for the United States are ________.

Might operating in a strategic alliance be considered more risky,more involved,and more complex than operating under a licensing arrangement? Explain.

The U.S.Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Business Management

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters