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With a tariff, the increase in revenue is kept by the local and foreign producers.

The total goods and services produced by one country in one year is referred to

Which of the following is a characteristic of a mixed economy?

In a market economy profit is the reward for the risks taken.

The Ivory Coast in Africa is the primary source of which product? (40% of this product comes from the coastal country.)

Housing starts are a leading indicator that the economy is improving, before employment rates rise.

It is not necessary for every Canadian business operating globally to have the same degree of cultural awareness.

Canada has a centrally planned economy.

In Canada it is acceptable for young people to quit school to enter the labour market at 12 years of age.

Which of the following is NOT true of a market economy?

The segment of industry that produces both capital and consumer goods is referred to as:

Canada has an absolute advantage over Sri Lanka, India, and Kenya in producing bulk black tea.

Which of the following are the effects on health due to globalization?

Tim Hortons is a domestic business because the company is a symbol of Canada.

When the Canadian dollar is high,

Which of the following does NOT fit the definition of a transaction?

NAFTA has common financial, security and foreign policies.

In North America, eye contact is seen as disrespectful &inappropriate & looking down is interpreted as a sign of respect

Canadian company handles all foreign dealings domestically,the level of cultural awareness does not need to be very high

Since NAFTA’s inception, trade has tripled between Canada, Mexico and the United States.

Globalization is the process of nations and corporations merging into one common culture and marketplace.

Developed countries tend to be characterized by long-term political issues, such as war and corruption.

Which one of Geert Hofstede's cultural dimensions is related to the way cultures adapt to change?

The positive results of globalization include:

Any business that conducts financial transactions outside of its native country is an international business.

When the Canadian dollar is high, foreign countries buy fewer of our exports.

The multidomestic strategy to globalization is best described as a strategy that:

The Free Trade Area of the Americas is the world's largest trading zone.

Developing nations have lower labour costs that Canadian businesses cannot match.

There are no true market economies in the world because every country has some government intervention.

Canadian businesses account for 20% of all global trade

What dictates the price at which the Canadian dollar is sold?

Canada is the world's third-largest diamond producer, supplying 15% of all diamonds.

Japan, Germany, and Australia fit into which category?

Culture is transmitted from one generation to the next through education and example.

When the Canadian dollar is low import costs are less, so prices drop on consumer goods.

Ontario does not use oil produced in Alberta because it is too expensive to build an east-west pipeline across Canada.

The more operations you have in foreign markets, the greater the need for cultural knowledge.

Immigrant communities within Canada that maintain parts of their own culture, including food, language, &religion are:

Once established, democracies are easy to maintain, so many people do not vote.

Globalization always lowers wages and exports jobs in developed countries.

More than 40% of Canada's gross domestic product (GDP) is exported.

Globalization is not important to small Canadian businesses.

In a democracy, each citizen is entitled to an education.

Within the past 30 years, China has emerged as a major economic force.

At which stage of the business cycle does the economy stop expanding and begin contracting:

Which of the following is NOT one of Geert Hofstede's cultural dimensions?

When speaking to another person, Canadians like to maintain a distance of at least half a metre.

Domestic transactions are those that take place between two Canadian companies.

Most of the lemons sold in Canada come from Morocco.

Saudi Arabian culture is primarily shaped by:

The Boston Pizza restaurant chain expanded into Canada from Boston, Massachusetts.

Canada has a strong manufacturing industry sector, but a weak primary sector.

The degree of cultural awareness that a company must have when establishing foreign business relationships depends on:

The stage of the business cycle that is defined as two consecutive quarters of negative gross domestic product (GDP) is:

Foreign trade or international trade means the same thing as international business.

It is more expensive to export e-waste to China and Africa than to dispose of it domestically.

A business is considered an international business if which of the following is true?

In which of the following situations is knowledge of the culture of the foreign country involved least necessary?

In Saudi Arabia, women are not permitted to work alongside men (except in hospitals).

Whether a transaction is domestic or international depends upon the businesses involved, not the product.

Canada imports oil for use in its eastern provinces.

What is a feature of cultures that have a high score in the uncertainty avoidance (UAI) dimension?

Factors that affect the exchange rate of a particular currency include:

The more value we can add to products in Canada, the more jobs are created here.

A high Canadian dollar has a positive effect on which of the following?

The European Union has common financial, security and foreign policies.

The most common type of trade barrier is a trade sanction.

What positive effects does international business have for Canadians?

Canada, Sweden, and Singapore have a low UAI level, therefore:

The G8 and the WTO negotiate and settle trade disputes.