Ch. 3 Quiz 2 - International Trade

Having a global vision simply means having a willingness to sell outside one's national borders if, and when, the opportunity arises.

• True

• False

Internationl trade-oriented jobs have grown 3 times the growth of U.S. - dependent jobs.

• True

• False

Mines in Africa produce diamonds and gold and sell these to Jewelers in Canada. To African producers, diamonds and gold are an import.

• True

• False

The exchange rate is the interest rate that foreign banks receive when borrowing money from the United States.

• True

• False

The tax that the United States imposes on imported carbon steel products is called a tariff.

• True

• False

Protectionism is part of free trade, some of the time.

• True

• False

The difference in value between a country's imports and exports is called its balance of trade.

• True

• False

If resource companies in Canada want to increase their business, they should not sell globally, they should just stay local.

• True

• False

Well-designed products do not need to be changed to suit different countries or cultures.

• True

• False

In International licensing, the licensor is the domestic firm that allows the licensee to use its trademark or brand.

• True

• False