Question 1

Balance of payments is a ____ concept than balance of trade.

Accepted Answer

A) more difficult 
B) less difficult 
C) nearly identical 
D) broader 
E) narrower 
A) more difficult 
B) less difficult 
C) nearly identical 
D) broader 
E) narrower

Question 2

The International Trade Administration (ITA) offers assistance and information to help exporters.

Accepted Answer

A) True 
 B)False

Question 3

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialize in the production of crude oil and petroleum products, and Australia can specialize in the production of wool.

Accepted Answer

A) a company advantage 
B) an absolute advantage 
C) a comparative advantage 
D) an effective manufacturing system 
E) very low labor costs 
A) a company advantage 
B) an absolute advantage 
C) a comparative advantage 
D) an effective manufacturing system 
E) very low labor costs

Question 4

Landing Service is a lawn furniture company that has been around for many years. It is known for its ability to produce furniture more efficiently than any other company in the nation. In truth, no other companies in any other nation come clos
-Refer to Landing Service. What type of tax has the Brazilian government imposed on the company?

Accepted Answer

A) Import duty 
B) Embargo 
C) Revenue tariff 
D) Protective tariff 
E) Nontariff barrier 
A) Import duty 
B) Embargo 
C) Revenue tariff 
D) Protective tariff 
E) Nontariff barrier

Question 5

An international organization formed at the end of World War II by the United States and twenty-two other countries whose goal was to reduce or eliminate tariffs and other barriers to world trade is called the

Accepted Answer

A) Trade Expansion Act. 
B) Kennedy Round. 
C) GATT. 
D) Tokyo Round. 
E) Common Market. 
A) Trade Expansion Act. 
B) Kennedy Round. 
C) GATT. 
D) Tokyo Round. 
E) Common Market.

Question 6

What are some advantages of licensing as a method of entering international business?

Accepted Answer

Licensing, a contractual agreement in wh

Question 7

​If the Philippines needed to borrow money to promote its economic and social progress, it would most likely go to the ___.

Accepted Answer

A) ​Asian Development Bank. 
B) ​World Bank. 
C) ​International Monetary Fund. 
D) ​United Nations. 
A) ​Asian Development Bank. 
B) ​World Bank. 
C) ​International Monetary Fund. 
D) ​United Nations.

Question 8

​Apple is an example of a company that makes products using international resources. This company is an example of international

Accepted Answer

A) ​interconnectedness and independence. 
B) ​cooperation. 
C) ​friction. 
D) ​economic derailing. 
A) ​interconnectedness and independence. 
B) ​cooperation. 
C) ​friction. 
D) ​economic derailing.

Question 9

A complete halt to trading with a particular nation or in a particular product is called an embargo.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following federal governmental agencies provides domestic and overseas commercial officers, country experts, and industry experts?

Accepted Answer

A) Export Legal Assistance Network 
B) International Trade Administration 
C) Advocacy Center 
D) American Business Center 
E) U.S.Department of Transportation 
A) Export Legal Assistance Network 
B) International Trade Administration 
C) Advocacy Center 
D) American Business Center 
E) U.S.Department of Transportation

Question 11

Absolute advantage is the ability to produce a specific product more efficiently than any other nation.

Accepted Answer

A) True 
 B)False

Question 12

​Some of the major hindrances to Japan's economic growth after 2009 were

Accepted Answer

A) ​the earthquake, the tsunami, and the nuclear plant disaster in 2011.​ 
B) ​the falling value of the yen. 
C) ​the fear of nuclear war. 
D) ​the inept leadership. 
A) ​the earthquake, the tsunami, and the nuclear plant disaster in 2011.​ 
B) ​the falling value of the yen. 
C) ​the fear of nuclear war. 
D) ​the inept leadership.

Balance of payments is a ____ concept than balance of trade.

The International Trade Administration (ITA) offers assistance and information to help exporters.

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialize in the production of crude oil and petroleum products, and Australia can specialize in the production of wool.

An international organization formed at the end of World War II by the United States and twenty-two other countries whose goal was to reduce or eliminate tariffs and other barriers to world trade is called the

What are some advantages of licensing as a method of entering international business?

If the Philippines needed to borrow money to promote its economic and social progress, it would most likely go to the ___.

Apple is an example of a company that makes products using international resources. This company is an example of international

A complete halt to trading with a particular nation or in a particular product is called an embargo.

Which of the following federal governmental agencies provides domestic and overseas commercial officers, country experts, and industry experts?

Absolute advantage is the ability to produce a specific product more efficiently than any other nation.

Some of the major hindrances to Japan's economic growth after 2009 were

Exploring the World of Business and Economics

Being Ethical and Socially Responsible

Choosing a Form of Business Ownership

Small Business, Entrepreneurship, and Franchises

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating and Satisfying Employees and Teams

Building Customer Relationships Through Effective Marketing

Creating and Pricing Products That Satisfy Customers

Distributing and Promoting Products

Understanding Social Media and E-Business

Using Management Information Systems and Accounting Information

Mastering Financial Management

Filters

Exam 3: Exploring Global Business

Balance of payments is a ____ concept than balance of trade.

The International Trade Administration (ITA) offers assistance and information to help exporters.

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialize in the production of crude oil and petroleum products, and Australia can specialize in the production of wool.

An international organization formed at the end of World War II by the United States and twenty-two other countries whose goal was to reduce or eliminate tariffs and other barriers to world trade is called the

What are some advantages of licensing as a method of entering international business?

​If the Philippines needed to borrow money to promote its economic and social progress, it would most likely go to the ___.

​Apple is an example of a company that makes products using international resources. This company is an example of international

A complete halt to trading with a particular nation or in a particular product is called an embargo.

Which of the following federal governmental agencies provides domestic and overseas commercial officers, country experts, and industry experts?

Absolute advantage is the ability to produce a specific product more efficiently than any other nation.

​Some of the major hindrances to Japan's economic growth after 2009 were

Exploring the World of Business and Economics

Being Ethical and Socially Responsible

Choosing a Form of Business Ownership

Small Business, Entrepreneurship, and Franchises

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating and Satisfying Employees and Teams

Building Customer Relationships Through Effective Marketing

Creating and Pricing Products That Satisfy Customers

Distributing and Promoting Products

Understanding Social Media and E-Business

Using Management Information Systems and Accounting Information

Mastering Financial Management

Filters

If the Philippines needed to borrow money to promote its economic and social progress, it would most likely go to the ___.

Apple is an example of a company that makes products using international resources. This company is an example of international

Some of the major hindrances to Japan's economic growth after 2009 were