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Duplicate of Global Trade Flashcards | StudBud
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Duplicate of Global Trade
Duplicate of Global Trade
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International trade chapter 3 Principles of Business
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Opponents of free trade agreements argue these adversely affect which group of people
Workers
Consumers
Share Holders
Corporations
2
A company selling a brand name to another company is an example of
Franchising
Licensing
Joint venture
Trade agreement
3
How would inexpensive lumber from Canada affect the U.S. market for new homes?
Prices of new homes would increase
Credit available for new homes would increase
Prices of new homes would decrease
Transaction costs for new homes would decrease
4
International Trade Barriers include
Embargo
Quota
Tariff
All of the above
5
Comparative advantage : ______
more production
more sales
lower sales
lower opportunity costs
6
For the United States to increase its industrial productivity it relies on which import?
Computer technology
Raw materials
Energy resources
Manufactured goods
7
When tourists travel they add to the
Money flowing into another country
Balance of trade
Money flowing into our country
Balance of payment
8
What is an exchange rate?
a trade embargo
a tariff
the value of one currency to another
a trade agreement
9
Religion is an element of which component of international business environment
Geographic
Political
Cultural
Economic
10
International organization that settles trade disagreement and enforce agreements
WTO
IMF
UN
World Bank
11
The clothes in our closet are an example of globalization because...
They were bought by our parents
They were made by people working in sweatshops
They come from different regions around the world
Different brands vary in cost
12
What does NAFTA stand for?
North American Free Trade Association
North American Federal Team Association
North American Free Technical Advice
North American Free Tax Association
13
Japan's tariff on US car imports is 100%, if car costs $40K in the US, what is cost in Japan
60K
120K
40K
80K
14
A country that wishes to enhance international trade activities would use...
A quota
Tariff
Common market
An embargo
15
Infrastructure is a significant factor in economic development of a country
Sometimes
Possibly
False
True
16
When a country's imports exceed its exports there is a trade
Surplus
Exchange
Balances
Deficit
17
Absolute Advantage : _____
more production
more sales
lower sales
more production costs
18
The value iof a country's currency is likely to decline as a result of
Trade surplus
Lower interest rate
Favorable balance of payment
Higher inflation
19
One reason for establishing trade barriers is
The protection of domestic industries
A reduction in foreign product prices
The improvement of foreign relations
An increase in local regulations
20
Which is better?
More imports
More exports
None of the above
Equal imports/exports
