chapter 3

If a country exports more than it imports, then that country has a

MNC's sometimes control

This group helps maintain an orderly system of world currency exchange rates

Items sold to other countries.

If a country exports more than it imports, that country has a

The value of currency in one country compared to the value in another country is called

This is the selling the rights to use a trademark or brand name for a fee or royalty

A limit on the quantity of a product that can be imported or exported

This organization tries to eliminate trade barriers, such as tariffs, embargoes, and quotas

An agreement between two or more companies to share a business project is called a

Exists when a country specializes in the production of a good or service at which it more efficient, bc its more profit

the cost of using someone elses money

Which of the following products are NOT imported to the US in any great quantity?

Which of the following is not, at times, an informal trade barrier

Occurs when a country buys more than it sells

An economy that is largely involved in agriculture generally

Which of the following situations represents an absolute advantage?

Domestic business refers to business activities needed for creating, shipping, and selling goods

Member countries agree to remove duties and trade barriers on products traded among each nation through a

A tax that the government places on certain imported products

Which would likely strengthen the US dollar and provide greater purchasing power for consumers?

Occurs when a country sells more than it buys

Completely prohibiting the import or export of a product

Occurs when a country sells more than it buys

Which of the following tends to discourage international trade?

Infrastructure refers to a country's

Which of the following is an example of a global strategy?

The amount a country owes to other countries is called

Exists when a country can produce a good or service at a lower cost than other countries (due 2 climate,natural resource

Items bought from other countries

without foreign trade, in the US,