Question 1

Since 1976 the U.S.has bought more goods from other nations than it has sold to other nations.This is called a:

Accepted Answer

A)  Countertrade 
B)  Favorable balance of payments 
C)  Favorable balance of trade 
D)  Trade deficit 
A)  Countertrade 
B)  Favorable balance of payments 
C)  Favorable balance of trade 
D)  Trade deficit D

Question 2

The Uruguay Round established the World Trade Organization.

Accepted Answer

A) True 
 B)False  True

Question 3

A person who buys a franchise is called a franchisor.

Accepted Answer

A) True 
 B)False  False

Question 4

A common market is also called a trading bloc.

Accepted Answer

A) True 
 B)False

Question 5

The balance of payments is the difference between money leaving the country and money coming into a country.

Accepted Answer

A) True 
 B)False

Question 6

In 2007 the top trading partner of the U.S.was China.

Accepted Answer

A) True 
 B)False

Question 7

An embargo is a moderate slowing of the import or export of a certain products with a particular country.

Accepted Answer

A) True 
 B)False

Question 8

One advantage of franchising is that the product or service is made and sold in exactly the same way throughout the world.

Accepted Answer

A) True 
 B)False

Question 9

The WTO is an organization that mediates trade disputes between countries and also sets policies in place to encourage trade.

Accepted Answer

A) True 
 B)False

Question 10

__________ is the use of government regulations to limit the import of goods and services.

Accepted Answer

A)  Trade deficit 
B)  Trade balancing 
C)  Trade protectionism 
D)  Trade advancement 
A)  Trade deficit 
B)  Trade balancing 
C)  Trade protectionism 
D)  Trade advancement

Question 11

Explain the difference between comparative advantage and absolute advantage.

Accepted Answer

Comparative advantage theory states that

Question 12

Culture refers to the set of values,beliefs,rules and institutions held to by a specific group of people.

Accepted Answer

A) True 
 B)False

Question 13

Importing is buying products from another country.

Accepted Answer

A) True 
 B)False

Question 14

A sound philosophy to adopt in global markets is always assume that what works in the U.S.will work around the world since the U.S.leads the marketplace on so many fronts.

Accepted Answer

A) True 
 B)False

Question 15

A country has a(n)__________ advantage if it has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries.

Accepted Answer

The answer of A country has a(n)__________ advantage if it...

Question 16

__________ trade is the exchange of goods and services across national borders.

Accepted Answer

The answer of __________ trade is the exchange of goods...

Question 17

The gray market refers to exports targeted to senior citizens.

Accepted Answer

A) True 
 B)False

Question 18

The old saying "When in Rome,do as the Romans do" applies to American businesses conducting business globally.

Accepted Answer

A) True 
 B)False

Question 19

Comparative advantage theory states that some countries have a monopoly on producing a specific product.

Accepted Answer

A) True 
 B)False

Question 20

Global financial markets do not have a common worldwide currency.

Accepted Answer

A) True 
 B)False

Since 1976 the U.S.has bought more goods from other nations than it has sold to other nations.This is called a:

The Uruguay Round established the World Trade Organization.

A person who buys a franchise is called a franchisor.

A common market is also called a trading bloc.

The balance of payments is the difference between money leaving the country and money coming into a country.

In 2007 the top trading partner of the U.S.was China.

An embargo is a moderate slowing of the import or export of a certain products with a particular country.

One advantage of franchising is that the product or service is made and sold in exactly the same way throughout the world.

The WTO is an organization that mediates trade disputes between countries and also sets policies in place to encourage trade.

__________ is the use of government regulations to limit the import of goods and services.

Explain the difference between comparative advantage and absolute advantage.

Culture refers to the set of values,beliefs,rules and institutions held to by a specific group of people.

Importing is buying products from another country.

A sound philosophy to adopt in global markets is always assume that what works in the U.S.will work around the world since the U.S.leads the marketplace on so many fronts.

A country has a(n)__________ advantage if it has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries.

__________ trade is the exchange of goods and services across national borders.

The gray market refers to exports targeted to senior citizens.

The old saying "When in Rome,do as the Romans do" applies to American businesses conducting business globally.

Comparative advantage theory states that some countries have a monopoly on producing a specific product.

Global financial markets do not have a common worldwide currency.

Introduction

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Distributing and Promoting Products and Services

Using Technology to Manage Information Lf-Test Scoring Guidelines

Filters

Exam 11: Creating Products and Pricing Strategies to Meet Customers Needs

Since 1976 the U.S.has bought more goods from other nations than it has sold to other nations.This is called a:

The Uruguay Round established the World Trade Organization.

A person who buys a franchise is called a franchisor.

A common market is also called a trading bloc.

The balance of payments is the difference between money leaving the country and money coming into a country.

In 2007 the top trading partner of the U.S.was China.

An embargo is a moderate slowing of the import or export of a certain products with a particular country.

One advantage of franchising is that the product or service is made and sold in exactly the same way throughout the world.

The WTO is an organization that mediates trade disputes between countries and also sets policies in place to encourage trade.

__________ is the use of government regulations to limit the import of goods and services.

Explain the difference between comparative advantage and absolute advantage.

Culture refers to the set of values,beliefs,rules and institutions held to by a specific group of people.

Importing is buying products from another country.

A sound philosophy to adopt in global markets is always assume that what works in the U.S.will work around the world since the U.S.leads the marketplace on so many fronts.

A country has a(n)__________ advantage if it has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries.

__________ trade is the exchange of goods and services across national borders.

The gray market refers to exports targeted to senior citizens.

The old saying "When in Rome,do as the Romans do" applies to American businesses conducting business globally.

Comparative advantage theory states that some countries have a monopoly on producing a specific product.

Global financial markets do not have a common worldwide currency.

Introduction

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Distributing and Promoting Products and Services

Using Technology to Manage Information Lf-Test Scoring Guidelines

Filters