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5 Written Questions

5 Matching Questions

  1. trade deficit
  2. economic differences
  3. exchange rates
  4. direct investment
  5. comparative advantage
  1. a measure the value of one nations currency relative to the currency of other nations
  2. b need to understand population, per capita income, economic growth, rate, currency exchange rate, and stage of economic development
  3. c the benefit a country has in a given industry if it can make products at a lower opportunity cost than other countries
  4. d when firms either acquire foreign firms or develop new facilities from the ground up in foreign countries
  5. e shortfall that occurs when the total value of a nations imports is higher than the total value of its exports

5 Multiple Choice Questions

  1. taxes levied against imports
  2. when a country can produce more of a goode than other nations, using the same amount of resources
  3. national policies designed to restrict international trade, usually with the goal of protecting domestic business
  4. involoves a domestic firm granting a foreign firm the rights to produce and market it products or to use its trademark/ patents rights in a defined geographical area
  5. a measure of the total flow of money into or out of a country

5 True/False Questions

  1. voluntary export restraints (VERs)international trade that involves the barter of products for products rather than for currency (20% of international commerce)

          

  2. balance of payments deficitmore money flows out of country than in

          

  3. balance of tradea measure of the total flow of money into or out of a country

          

  4. foreign franchisinginvoloves a domestic firm granting a foreign firm the rights to produce and market it products or to use its trademark/ patents rights in a defined geographical area

          

  5. exportingbuying products from overseas that have already been produced, rather than contacting with overseas manufacturers to produce special orders

          

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