BUS 1038 Ch 3 & 4

Which do economists NOT use to determine an economy’s health?

Nowadays, recovery typically follows recession.

Which is NOT a recognized stage of the business cycle?

The World Bank makes short-term loans to promote foreign trade.

How does the government finance budget deficits?

Which is NOT a contractual agreement that firms can enter when going global?

What term describes the difference between a country’s exports and imports?

What describes comparative advantage?

Cultural barriers refer to differences in language, religion and social values. What else?

From what type of market structure in Canada do people typically gasoline?

Indirect exporting is when goods are sold abroad but the firm is not engaged in exporting.

Decisions to go abroad depend on availability, price and quality of the factors of production.

What describes privatization?

Which describes a mixed market economy?

Changes in cost OR availability of the factors of production can shift the entire supply curve.

Which type of unemployment would describe a typical recent GBC grad?

Exchange controls require firms to buy/sell foreign exchange only via a designated authority.

Deflation can weaken the economy.

What describes dumping?

What describes a joint venture?