Question 1

The annual volume of world trade is about

Accepted Answer

A)  $100 billion. 
B)  $3 trillion. 
C)  $875 billion. 
D)  $15 trillion. 
E)  $8 trillion. 
A)  $100 billion. 
B)  $3 trillion. 
C)  $875 billion. 
D)  $15 trillion. 
E)  $8 trillion.

Question 2

If the Canadian dollar becomes weak compared to the Japanese yen,which of the following is likely to occur?

Accepted Answer

A)  Demand for goods would be unaffected by currency changes. 
B)  Japanese products would become cheaper in Canada. 
C)  It would take fewer dollars to buy the same number of yen. 
D)  Canadian products would become less expensive in Japan. 
E)  Japanese demand for goods from Canada would fall. 
A)  Demand for goods would be unaffected by currency changes. 
B)  Japanese products would become cheaper in Canada. 
C)  It would take fewer dollars to buy the same number of yen. 
D)  Canadian products would become less expensive in Japan. 
E)  Japanese demand for goods from Canada would fall.

Question 3

What is an exporter?

Accepted Answer

An exporter is a bus

Question 4

During the last few years,the benefits of NAFTA have been slowly eroded by

Accepted Answer

A)  the ups and downs of the Canadian dollar. 
B)  the reluctance of U.S.producers to sell goods to Canadian companies. 
C)  delays at border crossings between the U.S.and Canada. 
D)  higher inflation rates in the U.S.than in Canada. 
E)  objections from Mexico about unfair deals between the U.S.and Canada that shut Mexico out of export possibilities. 
A)  the ups and downs of the Canadian dollar. 
B)  the reluctance of U.S.producers to sell goods to Canadian companies. 
C)  delays at border crossings between the U.S.and Canada. 
D)  higher inflation rates in the U.S.than in Canada. 
E)  objections from Mexico about unfair deals between the U.S.and Canada that shut Mexico out of export possibilities.

Question 5

Which of the following items is least likely to impact a nation's balance of payments?

Accepted Answer

A)  Gains or losses in exchanges of international currencies 
B)  An increase in the GDP 
C)  Money spent by tourists 
D)  Trade deficits or surpluses 
E)  Foreign aid programs 
A)  Gains or losses in exchanges of international currencies 
B)  An increase in the GDP 
C)  Money spent by tourists 
D)  Trade deficits or surpluses 
E)  Foreign aid programs

Question 6

When a country's exchange rate falls,that country's exports become less expensive to other countries.

Accepted Answer

A) True 
 B)False

Question 7

In marketing its new product in a foreign nation,Mega Computer was surprised to see the very low prices on its local competitor's models.Subsequent investigation revealed that the domestic businesses had received money from the government.Mega now knows what a(n)________ is.

Accepted Answer

A)  subsidy 
B)  tariff 
C)  embargo 
D)  local content law 
E)  quota 
A)  subsidy 
B)  tariff 
C)  embargo 
D)  local content law 
E)  quota

Question 8

Which of the following is not one of the goals of the WTO?

Accepted Answer

A)  To promote trade by encouraging members to adopt fair trade practices 
B)  To promote multilateral negotiations regarding trade 
C)  To reduce the amount of trade corruption in countries that score poorly on the Corruption Perceptions Index of Transparency International 
D)  To establish fair procedures for resolving disputes among members 
E)  To reduce trade barriers 
A)  To promote trade by encouraging members to adopt fair trade practices 
B)  To promote multilateral negotiations regarding trade 
C)  To reduce the amount of trade corruption in countries that score poorly on the Corruption Perceptions Index of Transparency International 
D)  To establish fair procedures for resolving disputes among members 
E)  To reduce trade barriers

Question 9

The rate of exchange of a nation's currency has little effect upon the competitive advantages or disadvantages of its companies.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is not an example of adapting to customer needs?

Accepted Answer

A)  McDonald's selling wine in France 
B)  McDonald's selling Big Macs in India 
C)  Ford products having steering wheels mounted on the right in England 
D)  Movies being dubbed in another language 
E)  All of these are examples of adapting to customer needs 
A)  McDonald's selling wine in France 
B)  McDonald's selling Big Macs in India 
C)  Ford products having steering wheels mounted on the right in England 
D)  Movies being dubbed in another language 
E)  All of these are examples of adapting to customer needs

Question 11

What is an expected result when the value of a nation's currency falls?

Accepted Answer

A)  Export sales of its products decline. 
B)  The number of independent agents will decline. 
C)  Export sales of its products increase. 
D)  No result is more likely than any other. 
E)  Export sales of its products are unchanged. 
A)  Export sales of its products decline. 
B)  The number of independent agents will decline. 
C)  Export sales of its products increase. 
D)  No result is more likely than any other. 
E)  Export sales of its products are unchanged.

Question 12

When the Canadian government imposed a 34.6 percent tariff on barbecues made in China because complaints were received that Chinese companies were unfairly subsidizing the production of barbecues,this was an example of

Accepted Answer

A)  a revenue tariff. 
B)  a protectionist tariff. 
C)  a quota. 
D)  an embargo. 
E)  none of these. 
A)  a revenue tariff. 
B)  a protectionist tariff. 
C)  a quota. 
D)  an embargo. 
E)  none of these.

Question 13

Most countries encourage dumping because it means that their citizens get lower prices.

Accepted Answer

A) True 
 B)False

Question 14

When Manulife Financial entered the Chinese market it made an agreement with Sinochem,a state-owned trading company.This is an example of

Accepted Answer

A)  a strategic alliance. 
B)  world product mandating. 
C)  a licensing arrangement. 
D)  a branch office. 
E)  an independent agent. 
A)  a strategic alliance. 
B)  world product mandating. 
C)  a licensing arrangement. 
D)  a branch office. 
E)  an independent agent.

Question 15

If Canada exported $8 billion and imported $12 billion then its balance of trade would be a surplus of $4 billion dollars.

Accepted Answer

A) True 
 B)False

Question 16

A country has an absolute advantage in goods that it can produce more efficiently or better than other countries.

Accepted Answer

A) True 
 B)False

Question 17

The total volume of world trade today is about $15 trillion each year.

Accepted Answer

A) True 
 B)False

Question 18

In recent years,World Trade Organization talks on trade liberalization have been disrupted by protestors who have included all of the following groups except

Accepted Answer

A)  farmers. 
B)  business leaders. 
C)  environmentalists. 
D)  labour unions. 
E)  social activists. 
A)  farmers. 
B)  business leaders. 
C)  environmentalists. 
D)  labour unions. 
E)  social activists.

Question 19

Levi Strauss has an organization in a foreign country who has agreed to sell its products,to collect payments from the buyers,and to make sure that the buyers are satisfied.The organization is not part of Levi Strauss and may represent several non-competing firms at the same time.The organizational structure that Levi Strauss has selected is called

Accepted Answer

A)  strategic alliance. 
B)  independent agent. 
C)  branch office. 
D)  licensing agreement. 
E)  direct investment. 
A)  strategic alliance. 
B)  independent agent. 
C)  branch office. 
D)  licensing agreement. 
E)  direct investment.

Question 20

Computers-B-Us sent some of its managers abroad to gain more control over its operations and provide a more visible public presence.This type of organizational structure is known as a(n)

Accepted Answer

A)  independent agent. 
B)  branch office. 
C)  direct investment. 
D)  strategic alliance. 
E)  licensing arrangement. 
A)  independent agent. 
B)  branch office. 
C)  direct investment. 
D)  strategic alliance. 
E)  licensing arrangement.

The annual volume of world trade is about

If the Canadian dollar becomes weak compared to the Japanese yen,which of the following is likely to occur?

What is an exporter?

During the last few years,the benefits of NAFTA have been slowly eroded by

Which of the following items is least likely to impact a nation's balance of payments?

When a country's exchange rate falls,that country's exports become less expensive to other countries.

In marketing its new product in a foreign nation,Mega Computer was surprised to see the very low prices on its local competitor's models.Subsequent investigation revealed that the domestic businesses had received money from the government.Mega now knows what a(n)________ is.

Which of the following is not one of the goals of the WTO?

The rate of exchange of a nation's currency has little effect upon the competitive advantages or disadvantages of its companies.

Which of the following is not an example of adapting to customer needs?

What is an expected result when the value of a nation's currency falls?

When the Canadian government imposed a 34.6 percent tariff on barbecues made in China because complaints were received that Chinese companies were unfairly subsidizing the production of barbecues,this was an example of

Most countries encourage dumping because it means that their citizens get lower prices.

When Manulife Financial entered the Chinese market it made an agreement with Sinochem,a state-owned trading company.This is an example of

If Canada exported $8 billion and imported $12 billion then its balance of trade would be a surplus of $4 billion dollars.

A country has an absolute advantage in goods that it can produce more efficiently or better than other countries.

The total volume of world trade today is about $15 trillion each year.

In recent years,World Trade Organization talks on trade liberalization have been disrupted by protestors who have included all of the following groups except

Computers-B-Us sent some of its managers abroad to gain more control over its operations and provide a more visible public presence.This type of organizational structure is known as a(n)

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

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Exam 5: The Global Context of Business

The annual volume of world trade is about

If the Canadian dollar becomes weak compared to the Japanese yen,which of the following is likely to occur?

What is an exporter?

During the last few years,the benefits of NAFTA have been slowly eroded by

Which of the following items is least likely to impact a nation's balance of payments?

When a country's exchange rate falls,that country's exports become less expensive to other countries.

In marketing its new product in a foreign nation,Mega Computer was surprised to see the very low prices on its local competitor's models.Subsequent investigation revealed that the domestic businesses had received money from the government.Mega now knows what a(n)________ is.

Which of the following is not one of the goals of the WTO?

The rate of exchange of a nation's currency has little effect upon the competitive advantages or disadvantages of its companies.

Which of the following is not an example of adapting to customer needs?

What is an expected result when the value of a nation's currency falls?

When the Canadian government imposed a 34.6 percent tariff on barbecues made in China because complaints were received that Chinese companies were unfairly subsidizing the production of barbecues,this was an example of

Most countries encourage dumping because it means that their citizens get lower prices.

When Manulife Financial entered the Chinese market it made an agreement with Sinochem,a state-owned trading company.This is an example of

If Canada exported $8 billion and imported $12 billion then its balance of trade would be a surplus of $4 billion dollars.

A country has an absolute advantage in goods that it can produce more efficiently or better than other countries.

The total volume of world trade today is about $15 trillion each year.

In recent years,World Trade Organization talks on trade liberalization have been disrupted by protestors who have included all of the following groups except

Computers-B-Us sent some of its managers abroad to gain more control over its operations and provide a more visible public presence.This type of organizational structure is known as a(n)

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters