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Segment 1 Review Flashcards | StudBud
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Segment 1 Review
Segment 1 Review
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StudBud Administration
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Chapter 3 review International Business
Flashcards
13 cards
F
Practice quiz
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Questions
13
Answers
1
The value of a currency of one country against the value of a currency of another country
Balance rate
Interest rate
inflation rate
Exchange rate
2
When imports are greater than exports
Trade deficit
Balance of payments
Balance of trade
Trade surplus
3
Balance of trade is the difference between
imports and exports
Money coming in and going out
trade surplus and deficit
4
Trade agreement between US, Mexico and Canada
NAFTA
NEFDA
NAFDA
NEFTA
5
In general, it is better to import than export
True
False
6
When a country can produce a good at a lower cost than other countries.
World trade
Foreign trade
Comparative Advantage
Absolute Advantage
7
Trade surplus is
more exports than imports
more imports than exports
8
The difference between imports and exports
Exchange rate
Interest Balance
Balance of payments
Balance of trade
9
NOT a formal trade barrier
Embargo
Religion
Tariff
Quota
10
A government set limit on the quantity of a product that may be imported or exported
embargo
tariff
quote
11
A high score in Value Dimension Individualism speaks to
Less responsibility for others' actions
Respect for privacy
High value on people's time
All of these
12
Transportation, communication and utility systems are examples of
Climate
Trade barriers
Infrastructure
Terrain
13
When countries do away with duties and other trade barriers.
Free-trade zone
Common Market
Free-Trade Agreement
