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5 Written Questions

5 Matching Questions

  1. absolute advantage
  2. free trade
  3. multinational corporation
  4. general agreement on tariffs and trade [GATT]
  5. balance of trade
  1. a the total value of nations exports compared to its imports measured over a particular period
  2. b the advantage that exists when a country has a monopoly on producing or is able to produce it more efficiently than all other countries
  3. c an organization that manufactures and markets products in many different countries and has multinational stock ownership and multinational management
  4. d a 1948 agreement that established an international forum for negotiating mutual reductions in trade restrictions
  5. e the movements of goods and services among nations without political or economic barriers

5 Multiple Choice Questions

  1. theory that states that a country should sell to other countries those products that it produces most effectively and efficiently, and buy from other countries those products that it cannot produce as effectively or efficiently
  2. the difference between money coming into a country from exports and money leaving the country from imports, plus money flows from other factors such as tourism, foreign aid, military expenditures, and foreign investment
  3. the use of government regulations to limit the import of goods and services
  4. a complete ban on the import or export of a certain product or stopping all trade with a particular country
  5. selling products to another country

5 True/False Questions

  1. contract manufacturinga complex form of bartering in which several countries may be involved, each trading goods for goods or services for services


  2. importingselling products to another country


  3. expropriationselling products to another country


  4. tariffselling products in a foreign country at lower prices than those charged in the producing country


  5. foreign subsidiarya company owned in a foreign country by another company [ called the parent company ]


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