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Exam 3: Competing in the Global Marketplace

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Question 21

Multiple Choice

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In 2018, Austria exported $122.5 billion and imported products valued at $118.8 billion.Austria had a(n) :

A) favorable balance of trade
B) positive balance of payment
C) negative balance of trade
D) negative trade deficit
E) positive trade deficit

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Question 22

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Which of the following is an example of a natural trade barrier?

A) Distance
B) Price
C) Product characteristic
D) Exchange controls
E) Custom regulations

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Question 23

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In 1998, the Canadian Magazine Publisher's Association (CMPA) predicted the demise of many Canadian magazines because the World Trade Organization (WTO) made it legal for U.S.publishers to introduce product into the Canadian market, without incurring the start-up costs involved in launching a new magazine.By using split-run magazines (modifying the U.S.edition so they contain Canadian ads) , U.S.magazine publishers could offer lower rates to advertiser and sell the magazines for less money than Canadian publishers could.According to the CMPA, the U.S.magazine publishers would be engaged in:

Which of the following is NOT one of the advantages associated with multinational corporations?

_____ is a form of barter in which countries trade goods and services.

Botswana produces diamonds, copper, nickel, soda ash, meat, and textiles, which it sells to the members of the European Union.To Botswana, the diamonds, copper, nickel, soda ash, meat, and textiles it produces are examples of:

Shell Oil Company used Intertek Caleb Brett, an Australian research laboratory, to provide all analytical services needed to support one of its full scale refinery.With this _____, Shell replaced domestic employees at the site of the refinery with employees from the Australian firm.

A countertrade in international terms pertains to the sale of retail goods that are usually sold "over the counter."

The signing of the Central America Free Trade Agreement by the United States will more than likely not result in a major increase of U.S.exports.

What happens when a country lowers the value of its currency relative to other countries?

The International Monetary Fund (IMF) was created to promote trade through financial cooperation by working to eliminate trade barriers.

Some multinational corporations are so large that they resemble small countries.

The _____, formerly the International Bank for Reconstruction and Development, is a bank that offers low-interest loans to developing nations.

Bribery translates to kuroi kiri (black mist) in Japan, schmiergeld (grease money) , and baksheesh (tip or gratuity) in the Middle East.This differing way of looking at bribes is descriptive of differences in:

The United States prohibits the importation of 43 styles of automatic rifles.This is an example of which of the nontariff barriers to trade?

When a domestic company allows a foreign firm to use its brand in exchange for royalty fees, it is called a joint venture.

The exchange rate is the interest rate that foreign banks receive when borrowing money from the United States.

The _____ created the world's largest free-trade zone.

CoolBrands International has entered an agreement with Binney & Smith to create a line of frozen novelties based on the Crayola brand, including pops, bars, sandwiches, cups, cones, sundaes and shakes.CoolBrands will pay Binney & Smith a royalty for the right to use the Crayola trademark.This is an example of:

Mariah Dover cashed her $100 traveler's check in Riga, the capital of Latvia.At the current _____ rate, she received $61.82 in Latvian currency from the bank teller who took her traveler's check.