The difference between the amount of money that comes into a country and the amount that goes out is called
What is balance of payments
100
Goods and services sold to other countries are called.
What is exports
100
Which of the following scenarios is likely to cause the value of a country's currency to rise?
a) prolonged inflation
b) sudden change in government
c) increased demand for the nation's products and currency
d) higher interest rates
What is c) increased demand for the nation's products and currency.
100
MNC stands for
What is Multinational company
100
A country specializing in the production of a good or service at a relative higher efficiency has this.
What is a comparative advantage.
200
This is the difference between a county's total exports and total imports
What is balance of trade
200
A country in which a multinational company conducts business activities is called this.
What is a host country.
200
The U.S. conducts trade with more than this many countries.
What is 180
200
The international trade organization created this to provide loans for rebuilding after WWII.
What is the World Bank.
200
A balance of payments that occurs when a country sends out more money than it brings in.
What is negative or unfavorable balance.
300
Which country has an absolute advantage in coffee production?
a) U.S.
b) Saudi Arabia
c) Brazil
d) Ireland
What is c) Brazil
300
This many jobs depend on international business.
a) 1 out of 2
b) 1 out of 3
c) 1 out of 4
d) 1 out of 5
e) 1 out of 6
f) 1 out of 7
g) 1 out of 8
h) 1 out of 9
I) 1 out of 10
What is e) 1 out of 6
300
Which of the following is NOT a social factor that affects international business?
a) language
b) religion
c) values
d) climate
What is d) climate
300
Selling the right to use some intangible property for a fee or royalty.
What is licensing.
300
A selected area where products can be imported duty-free and then stored, assembled, or used in manufacturing.
What is free-trade zone
400
The making, buying, and selling of goods and services within a country
What is domestic business
400
This is the cost of borrowing someone else's money
What is interest rates.
400
This is a restriction of free trade.
What is a trade barrier.
400
A limit that the government places on the quantity of a product that may be exported or imported during a given period is called this.
What is quota.
400
The accepted behaviors, customs, and values of a society are referred to as.
What is culture.
500
If you exchange 50 British pounds for $87.50 U.S. what is the value of the British pound in relations to the U.S. dollar?
What is $1.75
500
According to the lecture, what country did we have a trade surplus with (when the book was first printed)?
What is the Netherlands
500
A tax that a government places on certain imported products.
What is a tariff.
500
An agreement between two or more companies to share a business project.
What is a business venture.
500
The key factors that affect a country's level of economic development are.
What is literacy level, technology, and agricultural dependency.