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Exam 2: the Global Marketplace and Governments’ Roles

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Question 31

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Canada buys copper from Chile's Escondido copper mine.The copper is used to make wiring for the Canadian telecommunications industry and for many other purposes.For Canada,the copper is an example of which of the following?

A) tariff
B) export
C) embargo
D) import

E) A) and C)
F) B) and C)

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Question 32

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An enterprise in which two or more firms or investors (including governments) share ownership of a business and its property rights is known as which of the following?

A) a cooperative
B) a joint venture
C) an international partnership
D) a cartel

E) A) and B)
F) A) and C)

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Question 33

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Companies can use several methods to participate in the global marketplace.To which of the methods is franchising is most closely related?

Which of the following agreements dramatically lowered trade barriers worldwide and created the new World Trade Organization (WTO) ?

When a country sells its products in a foreign country at a cheaper price than usual,and sometimes even at a loss,it is dumping products.

The most fundamental reason for the growth in world trade is probably due to which of the following?

If a country specializes in goods that it can produce most readily and cheaply and trades those goods for the goods that another country can produce most readily and cheaply,then both countries are exercising which of the following principles?

Active ownership of a foreign company,with direct investors having either a controlling or a large minority interest in the firm,is best described by which of the following activities?

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

Which of the following organizations were formed with the original purpose of helping build infrastructure in developing countries and helping relieve the debt burden of these countries?

Latvia had a favourable balance of trade last year when it exported $2.3 billion and imported $3.9 billion.

Which of the following is the sense of national consciousness that boosts the culture and interests of one country over those of all other countries?

Regardless of its size,a multinational corporation has only one corporate headquarters.

Which of the following characteristics is exhibited by a company that has a global vision?

According to the principle of comparative advantage,each country should specialize in the products that it can produce most readily and cheaply and trade those products for products that foreign countries can produce most readily and cheaply.

Azerbaijan has imports of $1.8 billion and has a favourable balance of trade.This means that Azerbaijan has which of the following?

Briefly explain how an exchange of merchandise can occur without involving cash or any other form of financial consideration.

Which of the following is best described by the term "preferential tariff"?

In 2009,Argentina exported $25.3 billion and imported products valued at $9 billion.Argentina exhibited which of the following?

A domestic firm may decide to sign an agreement for the production of its goods by an established foreign manufacturer.Such private-label manufacturing by a foreign company is known as which of the following?