Chapter 3 Business in the Global Economy

The United States conducts trade with more than _____________ countries?

When a country has a favorable balance of payments, the value of its currency is usually constant or rising?

___________ rates are the cost of using someone else's money.

A tax that a government places on certain imported products is called a(n)

Today it is difficult to define economies in terms of national borders?

A limit that a government places on the quantity of a product that may be exported or imported during a given period

A joint venture = agreement among 2 or more countries to remove duties and trade barriers on products traded among them.

Goods and services sold to other countries are called?

The key factors that affect a country's level of economic development are

If a nation imports more than it exports, it has a trade __________?

A country specializes in the production of a good or service at which it is relatively more efficient is called _______?

What is a free-trade zone?

The making, buying, and selling of goods and services within a country is called?

Which country has absolute advantage in coffee production?

Selling the right to use some intangible property for a fee or royalty is called?

Without foreign trade, all items you buy would cost less, because they would not need t/be shipped here from other lands

Can the United States have trade surplus with one country and trade deficit with another country?

A nation's transportation, communication, and utility systems is referred to as its

The difference between a country's total exports and total imports is called the

A country in which a multinational company conducts business activities is called the

Foreign ______ is the amount a country owes to other countries?

A country can have an absolute advantage in only one area?

Which of the following is NOT a cultural/social factor that affects international business?

A ___________ is the right to use a company name or business process in a specific way?

A trade _________ is a restriction to free trade.

The difference between the amount of money that comes into a country and the amount that goes out is called the

International business is frequently referred to as world or __________ trade?

Which of the following is NOT a goal of the World Trade Organization?

Licensing

Some countries limit the amount of money their citizens can take out of the country when they travel?

Because of international trade, all nations of the world use the same banking system?

When a government completely stops the import or export of a product, it is called _________?

A nation with a trade surplus is said to have a favorable trade position

Countries that devote most of their economies to agriculture usually provide more and better goods/services 4/their peps

A society's culture has a strong influence on business activities. Which of these is an example of a cultural influence

The ________ rate is the value of a currency in one country compared with the value in another?

A _______________ company is an organization that does business in several countries?