Question 1

What other country besides Costa Rica, the Dominican Republic, El Salvador, Guatemala, Nicaragua, and Honduras signed the Central America Free Trade Agreement (CAFTA)?

Accepted Answer

The answer of What other country besides Costa Rica, the...

Question 2

A well-designed product transcends cultural barriers.It does not need to be changed to suit different countries or cultures.

Accepted Answer

A) True 
 B)False

Question 3

The most fundamental reason for the growth in world trade is probably due to:

Accepted Answer

A)  the creation of free trade areas
B)  the need for businesses to expand their markets
C)  fluctuating exchange rates
D)  cultural differences
E)  political unrestF) B) and E)
G) B) and C)

Question 4

A company that has a global vision:

Accepted Answer

A)  recognizes and reacts to international business opportunities
B)  is interested in nothing more complicated than exporting
C)  follows its competition into foreign markets
D)  has a very nationalistic view of the world
E)  does not see competition from foreign marketers as a threatF) B) and D)
G) A) and B)

Question 5

A country's _____ is the set of beliefs, values, and social norms shared by members of a society that determines what is socially acceptable.

Accepted Answer

A)  regulations
B)  traditions
C)  laws
D)  culture
E)  standardsF) A) and D)
G) A) and C)

Question 6

The Uruguay Round of trade negotiation is an agreement that only affects trade among Latin American countries.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is NOT listed in the text as a reason why more and more companies are doing business in the global marketplace?

Accepted Answer

A)  Companies enter the global marketplace to maintain their balance of trade.
B)  Companies enter the global marketplace in order to stay competitive with companies that are marketing the same product as they market.
C)  Companies enter the global marketplace to expand their market.
D)  Companies enter the global marketplace to acquire the resources they need to operate.
E)  Companies enter the global marketplace as a result of governments lowering their trade barriers.F) B) and C)
G) B) and E)

Question 8

In 2018, Rwanda exported $98 million and imported products valued at $243 million.Rwanda has a(n) :

Accepted Answer

A)  unfavorable balance of trade
B)  negative balance of payment
C)  negative balance of trade
D)  negative trade deficit
E)  positive trade deficitF) A) and D)
G) None of the above

Question 9

Spanish customers view toothpaste as a cosmetic while consumers in the Netherlands view it as a necessary part of daily hygiene and use three times as much their Spanish counterparts.This example of _____ shows how important it is for marketers to understand.

Accepted Answer

A)  local content laws
B)  cultural differences
C)  nationalistic standards
D)  expropriation laws
E)  trade regulationsF) A) and D)
G) D) and E)

Question 10

The difference in value between a country's imports and exports is called its balance of trade.

Accepted Answer

A) True 
 B)False

Question 11

China imposes a 45 percent tax on the market value of all chickens that are imported from the U.S.into China.Another name for this type of tax is a(n) :

Accepted Answer

A)  embargo
B)  boycott
C)  subsidy
D)  quota system
E)  tariffF) A) and E)
G) C) and D)

Question 12

The Ford Motor Company has investing $6 billion to build a "world car," the midsize Mondeo.The car was designed in the U.S., Germany, and the United Kingdom to be adaptable to any market in the world.Ford is a(n)  _____ company.

Accepted Answer

A)  intercultural
B)  interpartnership
C)  multinational
D)  nationalistic
E)  conglomerateF) A) and E)
G) C) and D)

Question 13

Because the United States produces hospital surgical equipment more efficiently than any other country, the U.S.has a(n) _____ advantage in its production.

Accepted Answer

The answer of Because the United States produces hospital surgical...

Question 14

In 2018, Country A exported $84.9 billion and imported products valued at $74.69 billion.The difference between the dollar value of its exports and imports represents a:

Accepted Answer

A)  positive exchange rate
B)  positive balance of payment
C)  trade surplus
D)  trade deficit
E)  positive countertradeF) B) and D)
G) B) and E)

Question 15

Imagine you are trying to gather the information needed to calculate the balance of payments for an Eastern European country.To do your calculations, you would need to have information on all of the following EXCEPT:

Accepted Answer

A)  foreign aid the country receives
B)  military expenditures it makes in other countries
C)  its imports and exports
D)  its corporate tax rates
E)  tourist spending in the countryF) None of the above
G) A) and E)

Question 16

Telecommunications equipment manufacturers in the United States sell their products to people who live in Canada.To Canadians, the telecommunications equipment is an export.

Accepted Answer

A) True 
 B)False

Question 17

The World Bank's emphasis has recently shifted from helping to build the infrastructure of developing countries to:

Accepted Answer

A)  purchasing food for the population
B)  building highways, schools, and hospitals
C)  developing new agricultural techniques
D)  offering loans to help to relieve their debt burden
E)  expansion of local product lines for more exportingF) B) and D)
G) B) and C)

Question 18

In 1997, Russia and Ukraine exported carbon steel plate into the U.S.at a price much lower than the countries were found guilty of charging the identical steel in their home markets.Russia and Ukraine were engaged in:

Accepted Answer

A)  export pricing
B)  dumping
C)  unloading
D)  dunking
E)  add-on pricingF) C) and D)
G) B) and C)

Question 19

The _____ of Algeria includes 3,973 km of railroads, 104,000 km of roads, and 54 paved airports.It also has only five telephones for every 100 citizens and only two Internet service providers.

Accepted Answer

A)  oligopoly
B)  natural advantage
C)  infrastructure
D)  ethnocentrism
E)  cultural environmentF) D) and E)
G) B) and C)

Question 20

The United States imposes a(n) _____, a tax, on all imported bicycles.

Accepted Answer

The answer of The United States imposes a(n) _____, a...

Exam 3: Competing in the Global Marketplace

The difference in value between a country's imports and exports is called its balance of trade.

Correct AnswerverifiedShow Answer

In 2018, Rwanda exported $98 million and imported products valued at $243 million.Rwanda has a(n) :

Correct AnswerverifiedShow Answer

The United States imposes a(n) _____, a tax, on all imported bicycles.

Correct AnswerverifiedShow Answer

The _____ of Algeria includes 3,973 km of railroads, 104,000 km of roads, and 54 paved airports.It also has only five telephones for every 100 citizens and only two Internet service providers.

Correct AnswerverifiedShow Answer

A country's _____ is the set of beliefs, values, and social norms shared by members of a society that determines what is socially acceptable.

Correct AnswerverifiedShow Answer

In 2018, Country A exported $84.9 billion and imported products valued at $74.69 billion.The difference between the dollar value of its exports and imports represents a:

Correct AnswerverifiedShow Answer

Telecommunications equipment manufacturers in the United States sell their products to people who live in Canada.To Canadians, the telecommunications equipment is an export.

Correct AnswerverifiedShow Answer

Because the United States produces hospital surgical equipment more efficiently than any other country, the U.S.has a(n) _____ advantage in its production.

Correct AnswerverifiedShow Answer

Spanish customers view toothpaste as a cosmetic while consumers in the Netherlands view it as a necessary part of daily hygiene and use three times as much their Spanish counterparts.This example of _____ shows how important it is for marketers to understand.

Correct AnswerverifiedShow Answer

A well-designed product transcends cultural barriers.It does not need to be changed to suit different countries or cultures.

Correct AnswerverifiedShow Answer

The Uruguay Round of trade negotiation is an agreement that only affects trade among Latin American countries.

Correct AnswerverifiedShow Answer

In 1997, Russia and Ukraine exported carbon steel plate into the U.S.at a price much lower than the countries were found guilty of charging the identical steel in their home markets.Russia and Ukraine were engaged in:

Correct AnswerverifiedShow Answer

The Ford Motor Company has investing $6 billion to build a "world car," the midsize Mondeo.The car was designed in the U.S., Germany, and the United Kingdom to be adaptable to any market in the world.Ford is a(n) _____ company.

Correct AnswerverifiedShow Answer

A company that has a global vision:

Correct AnswerverifiedShow Answer

What other country besides Costa Rica, the Dominican Republic, El Salvador, Guatemala, Nicaragua, and Honduras signed the Central America Free Trade Agreement (CAFTA)?

Correct AnswerverifiedShow Answer

Imagine you are trying to gather the information needed to calculate the balance of payments for an Eastern European country.To do your calculations, you would need to have information on all of the following EXCEPT:

Correct AnswerverifiedShow Answer

The most fundamental reason for the growth in world trade is probably due to:

Correct AnswerverifiedShow Answer

The World Bank's emphasis has recently shifted from helping to build the infrastructure of developing countries to:

Correct AnswerverifiedShow Answer

Which of the following is NOT listed in the text as a reason why more and more companies are doing business in the global marketplace?

Correct AnswerverifiedShow Answer

China imposes a 45 percent tax on the market value of all chickens that are imported from the U.S.into China.Another name for this type of tax is a(n) :

Correct AnswerverifiedShow Answer

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