This is the type of trade balance when you export more than you import
What is a trade surplus
100
This Act allows American firms to form monopolies to compete with foreign cartels.
What is Webb-Pomerene Export Trade Act
100
This was the name of the attempted agreement that would have merged North and South America into one market
What is Free Trade Area of the Americas
100
This organization provides short-term loans to member countries, functions as a world central bank, eliminates trade barriers between nations, and fosters international financial cooperation
What is International Monetary Fund
100
This type of barrier could result from a change in administration
What is a political barrier
200
This is the trade balance when you import more than you export
What is a trade deficit
200
This is a group of nations or companies that agree to band together to act as a monopoly.
What is a cartel
200
This is when a specific amount of money is levied on each unit of a product brought into the country
What is a fixed tariff
200
The formal name for this is the International Bank for Reconstruction and Development
What is the World Bank
200
This type of barrier would include a difference in language, gestures, personal space, etc.
What is cultural barriers
300
This is the difference between the flow of money into and out of a country
What is balance of payments
300
This trade alliance/agreement represents 54% of world's GDP.
What is Asia-Pacific Economic Cooperation
300
These companies offer all of the following services: consulting, advertising, warehousing, and foreign exchange.
What is trading companies
300
This includes a country's balance of trade, foreign investments, tourist expenditures, and foreign aid and military expenditures.
What is balance of payments
300
This strategy is associated with customizing products, promotion, and distribution according to cultural, technological, regional, and national differences
What is a multinational strategy
400
This is why nations trade.
What is to obtain resources that would otherwise be unavailable to them
400
This agreement merged Canada, the United States, and Mexico into one market
What is (NAFTA) North Atlantic Free Trade Agreement
400
This is when a company allows a firm to use its name, formula, and brands in return for a royalty
What is licensing
400
Globalization refers to products, promotion, and this
What is distribution
400
This is when a company hires a foreign company to produce a specified volume of the firm’s product to specification
What is contract manufacturing
500
This agreement was signed by 23 nations, provided a forum for tariff negotiations and was a precursor to the World Trade Organization
What is (GATT) General Agreement on Tariffs and Trade
500
This was established in 1958, is compromised of 27 nations, and is the largest single world market
What is the European Union
500
This is a person who is a middleman who markets goods in another country
What is an export agent
500
If there is a trade deficit the amount of money coming in is _______________ than the money going out
What is less
500
When a country specializes in products that it can supply more efficiently or at a lower cost than it can produce other items