WorksheetsCh. 3 Test Review - International Business
Total questions: 16
Worksheet time: 8mins
Of all the factors that are important to doing business, geography is NOT important to doing business
True
False
A trade deficit means....
your country imports less than it exports
your country exports less that it imports
your country exports more than it imports
Each of the following will have an important impact on a nation's economic conditions EXCEPT:
the nation's capital resources
the language spoken by its workers
the literacy rates and training of its workers
the types of technology used by its workers
A nation's transportation, communication, and utility systems are part of its ____________.
scientific resources
natural resources
infrastructure
human resources
Domestic business is defined as the making, buying, and selling of goods and services __________ a country.
within
outside
Trade barriers can include _________, tariffs, and embargos.
bans
quotas
limitations
An embargo is which of the following?
a ban on imported goods
a limit on imported goods
a tax on imported goods
The value of a currency in one country compared with the value of another is called the....
balance of payments
exchange rate
inflation rate
currency
Quotas may be set by a country to protect one of its industries from too much foreign competition.
True
False
________ _______ exists when a country can produce a good or service at a lower cost than any other country. Think of South America and their coffee.
comparative advantage
absolute advantage
partial advantage
total advantage
If the currency exchange rate is $1.25 = 1 Euro, how much will it cost in U.S. dollars to acquire 100 Euros?
$1.25
$1,250.00
$125.00
$12.50
If the currency exchange rate between the U.S. dollar and the British pound were 1 pound to 1.5 U.S. dollars, how many dollars would 500 pounds buy?
$333.33
$500.00
$750.00
$1,500.00
Which of the following is a case of international EXPORTS?
The Velasco Co. of the U.S. ships 20 truckloads of seafood to Canada.
The Lamando retail firm of France decides to expand to the U.K. and purchases a large plot of land.
BBN Bank of Canada sends $30 million to its subsidiary in the Bahamas.
all are examples
A country's ________ ________ is defined as the difference between money that goes into and out of the country.
balance of trade
balance of payments
balance of money
balance of power
Suppose that the exchange rate between the dollar and the peso changed from 6 pesos per dollar to 8 pesos per dollar. This change means that the.....
peso appreciated in value
peso depreciated in value
dollar depreciated in value
If the U.S. set a 12% tariff on imported automobiles, a Toyota that cost the equivalent of $13,000 in Japan would be priced at:
$15,420 plus shipping in the U.S.
$14,200 plus shipping in the U.S.
$16,280 plus shipping in the U.S.
$14,560 plus shipping in the U.S.
