PBM Module 3 Test: Business in the Global Economy
Quiz by Pa'Trice Day Owens
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24 questions
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- Q1Most business activities occur within a country's own borders.TrueFalse60s
- Q2Without foreign trade, all of the items you buy cost less, because they would not need to be shippedFalseTrue60s
- Q3A nation with a trade surplus is said to have a favorable trade positionTrueFalse60s
- Q4When a country has a favorable balance of payments, the value of its currency is usually constant or rising.FalseTrue60s
- Q5A joint venture is an agreement between two or more countries to remove duties and trade barriers on products traded among them.TrueFalse60s
- Q6A franchise is a right to use a company name or business process in a specific way.FalseTrue60s
- Q7The exchange rate is the value of a currency in one country compared with the value in another.TrueFalse60s
- Q8A multinational company is an organization that does business within its country only.TrueFalse60s
- Q9The making, buying and selling of foods and services within a country is calledDomestic businessinternational businessimportingworld trade60s
- Q10Goods and services sold to other countries are calledexportstarriffsimportscontraband60s
- Q11The difference between a country's total exports and total imports is called thetrade deficitforeign debtbalance of tradetrade surplus60s
- Q12Which of the following scenarios is likely to cause the values of a country's currency to risehigher interest rateincreased demand for the nation's products and currencylong period of inflationsudden change in government60s
- Q13The tax that a government palaces on certain imported products is called anembargoDiversituretarriffquota60s
- Q14A limit that a government places on the quantity of a product that may be exported or imported during a given period is called atrade surplusembargotarriffquota60s
- Q15Which is NOT a goal of the World Trade Organization?Help poor countries with economic growth and free trade agreements between memberslower tariffsStrengthen import quotashelp poor countries with economic growth60s