A country exports products totaling $86 billion & imports products valued at $43 billion

It has a trade surplus of $43 billion

An absolute advantage occurs when a country can maintain

a monopoly by being the lowest cost producer of a good

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World Markets

12 termsStudBud Administration

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Questions 12

Answers

1
A country exports products totaling $86 billion & imports products valued at $43 billion
it has an unfavorable balance of payments
it has a trade deficit of $43 billion
It has a trade surplus of $43 billion
It has an exchange rate of 2 to 1
2
Countries establish these where they can trade among themselves without trade barriers.
offshoring area/zone
joint venture
multidomestic zone
free trade area/zone
3
A trade deficit occurs when
exports exceed imports
imports exceed exports
imports are sold at low profits
there is a net flow of money into a country
4
A limit on the amounts of particular products that countries can import is
a tariff
a quota
an embargo
a free trade zone
5
A country has a good chance of selling more of its goods abroad if
more tourists decide to travel abroad
devalues its currency
sets high tariffs on imported goods
it increases the value of its currency
6
The rate at which its currency can be exchanged for currencies of other countries is known as
an echange rate
a quota
a tariff
an embargo
7
infrastructure includes all except
energy facilities
communication
transportation
political climate
8
An absolute advantage occurs when a country can maintain
its advantage by producing agood or service more efficiently
a monopoly by being the lowest cost producer of a good
a monopoly by levying high taxes on imports
a monopoly by outlawing foreign imports
9
Foreign made products purchased by domestic consumers are
tariffs
imports
franchises
exports
10
If a country offers steel to another country below the company's cost of production it may be
accused of a quota
accued of a managed trade agreement
accused of protective tariffs
accused of dumping
11
Decisions made by who regarding trade disputes are binding
World Trade Organization
North American Free Trade Agreement (NAFTA)
International Monetary Fund (IMF)
General Agreement on Tariffs and Trades
12
An understanding of religious holidays is essential in order to overcome
physical international trade
cultural international trade
political international trade
legal international trade

World Markets Flashcards | StudBud

World Markets

12 termsStudBud Administration

Imported from external platform

Flashcards12 cardsFPractice quizPHost liveL

Questions 12

Answers

1
A country exports products totaling $86 billion & imports products valued at $43 billion
it has an unfavorable balance of payments
it has a trade deficit of $43 billion
It has a trade surplus of $43 billion
It has an exchange rate of 2 to 1
2
Countries establish these where they can trade among themselves without trade barriers.
offshoring area/zone
joint venture
multidomestic zone
free trade area/zone
3
A trade deficit occurs when
exports exceed imports
imports exceed exports
imports are sold at low profits
there is a net flow of money into a country
4
A limit on the amounts of particular products that countries can import is
a tariff
a quota
an embargo
a free trade zone
5
A country has a good chance of selling more of its goods abroad if
more tourists decide to travel abroad
devalues its currency
sets high tariffs on imported goods
it increases the value of its currency
6
The rate at which its currency can be exchanged for currencies of other countries is known as
an echange rate
a quota
a tariff
an embargo
7
infrastructure includes all except
energy facilities
communication
transportation
political climate
8
An absolute advantage occurs when a country can maintain
its advantage by producing agood or service more efficiently
a monopoly by being the lowest cost producer of a good
a monopoly by levying high taxes on imports
a monopoly by outlawing foreign imports
9
Foreign made products purchased by domestic consumers are
tariffs
imports
franchises
exports
10
If a country offers steel to another country below the company's cost of production it may be
accused of a quota
accued of a managed trade agreement
accused of protective tariffs
accused of dumping
11
Decisions made by who regarding trade disputes are binding
World Trade Organization
North American Free Trade Agreement (NAFTA)
International Monetary Fund (IMF)
General Agreement on Tariffs and Trades
12
An understanding of religious holidays is essential in order to overcome
physical international trade
cultural international trade
political international trade
legal international trade