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Exam 5: International The Global Marketplace

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Question 41

True/False

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The need for businesses to expand their markets is one of the most fundamental reasons for the growth in world trade.

A) True
B) False

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Question 42

Multiple Choice

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

A) cultural differences
B) the creation of free-trade areas
C) fluctuating exchange rates
D) the need for businesses to expand their markets

E) A) and D)
F) None of the above

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Question 43

Multiple Choice

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By using split-run magazines (modifying the U.S.edition so they contain Canadian ads) ,U.S.magazine publishers can offer lower rates to advertisers and sell the magazines for less money than Canadian publishers can.According to the CMPA,the U.S.magazine publishers are engaged in which of the following?

China imposes a 45 percent tax on the market value of all chickens that are imported from other countries into China.What would be another name for this type of tax?

The World Trade Organization (WTO) is best described by which one of the following?

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

Which of the following is a benefit associated with free trade and globalization?

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

In order to show a commercial on South Korean television,a company like Gillette must film the commercial using South Korean actors.What political consideration is most likely responsible for this legal requirement?

The Uruguay Round of trade negotiations is best described by which of the following?

There are arguments for and against the use of tariffs.What are the most likely reasons that a cattle-producing country like Argentina might have a tariff on the importation of beef?

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

Which of the following best describes an effect of free trade?

What are the benefits associated with free trade and globalization?

Which of the following is the reduction of a currency's value relative to another currency?

In 2009,Argentina exported $25.3 billion and imported products valued at $9 billion.What does the difference between the dollar value of its exports and imports represent?

In 1997,Russia and Ukraine exported carbon steel plate into Canada at a price much lower than the countries charged for the identical steel in their home markets.Russia and Ukraine were engaged in which of the following activities?

Venezuela can grow and sell cut flowers for floral bouquets more easily and more cheaply than most other countries can produce the same flowers.When it comes to flowers,Venezuela has 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?

Which of the following is a protectionist argument that says Canada should use tariffs to keep foreign labour from taking away Canadian jobs?