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Ch. 3 Quiz 2 - International Trade

Total questions: 10

Worksheet time: 3mins

Name
Class
Date
1.

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

a)

True

b)

False

2.

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

a)

True

b)

False

3.

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

a)

True

b)

False

4.

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

a)

True

b)

False

5.

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

a)

True

b)

False

6.

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

a)

True

b)

False

7.

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

a)

True

b)

False

8.

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

a)

True

b)

False

9.

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

a)

True

b)

False

10.

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

a)

True

b)

False