Future of Business Canadian 5th Edition by Althouse - Test Bank Instant Download - Complete Test Bank With Answers Sample Questions Are Posted Below c1. Which of the following characteristics is exhibited by a company that has a global vision? a. being interested in nothing more complicated than exporting b. …
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Future of Business Canadian 5th Edition by Althouse – Test Bank
Instant Download – Complete Test Bank With Answers
Sample Questions Are Posted Below
c1. Which of the following characteristics is exhibited by a company that has a global vision?
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2. Exports create which of the following for the Canadian economy?
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3. How do imports benefit the Canadian consumer?
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4. One of the reasons that the United Nations has ranked Canada as one of the best countries to live in is our ability to do which of the following?
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5. Our economy has become more sophisticated in recent decades and has developed into which of the following?
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6. Which of the following move resources, goods, services, and skills across national boundaries without regard to the country in which they are headquartered?
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7. The Ford Motor Company has invested $6 billion to build a “world car,” the midsize Mondeo. The car was designed in the United States, Germany, and the United Kingdom to be adaptable to any market in the world. Which type of organization best describes Ford?
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8. Which of the following is one of the advantages associated with multinational corporations?
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9. Successful multinational corporations do which of the following when conducting business internationally?
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10. Which of the following is one of the advantages associated with multinational corporations?
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11. What are some of the challenges that multinational corporations face?
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12. Which of the following are goods and services that are made in a country and sold to other countries?
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13. Which of the following are products that are bought from one country for use in another just as Canada buys coffee from Columbia?
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14. Canada buys copper from Chile’s Escondido copper mine. The copper is used to make wiring for the Canadian telecommunications industry and for many other purposes. For Canada, the copper is an example of which of the following?
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15. Canadian manufacturers sell automobiles in South Korea. To South Korea, the automobiles represent which of the following?
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16. Bombardier sells trains to European countries. To the European countries, these trains are an example of which of the following?
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17. Developed nations account for what percentage of world trade?
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18. The United States accounts for what percentage of Canada’s exports?
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19. Which of the following is defined as the difference in value of a country’s exports and imports over a period of time?
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20. A country that exports more goods than it imports is said to exhibit which of the following?
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21. A country that imports more goods than it exports is said to exhibit which of the following?
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22. In 2009, Argentina exported $25.3 billion and imported products valued at $9 billion. Argentina exhibited which of the following?
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23. Romania has imports of $16.7 billion and has an unfavourable balance of trade. This means that Romania has which of the following?
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24. In 2009, Albania exported $340 million and imported products valued at $1.5 billion. Albania would exhibit which of the following?
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25. Azerbaijan has imports of $1.8 billion and has a favourable balance of trade. This means that Azerbaijan has which of the following?
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26. In 2009, Argentina exported $25.3 billion and imported products valued at $9 billion. What does the difference between the dollar value of its exports and imports represent?
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27. In 2010, Albania exported $340 million and imported products valued at $1.5 billion. What does the difference between the dollar value of its exports and imports represent?
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28. The difference between a country’s total payments to other countries and its total receipts from other countries is represented by which of the following?
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29. The balance of payments is the summary of a country’s financial transactions with another country. Which of the following would you expect to see in such a summary?
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30. The balance of payments is the summary of a country’s financial transactions with another country. Which of the following would you expect to see in such a summary?
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31. Imagine you are trying to gather the information needed to calculate the balance of payments for an Eastern European country. To do your calculations, you would need to have information on which of the following?
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32. Which of the following represents the total amount of money that flows into and out of a country?
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33. Which of the following represents the value of one currency in terms of another?
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34. When Steve went to Mexico, he found that he could go to his bank and trade his 100 Canadian dollars for 750 Mexican pesos (the nation’s currency). This is an example of 7.5 Mexican pesos representing which of the following?
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35. Which of the following terms means that prices of currencies vary based upon demand and supply of that currency?
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36. Which of the following is the reduction of a currency’s value relative to another currency?
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37. Which of the following terms best describes the reduction of value, if, during the past decade, the Canadian dollar’s value has been reduced relative to most other world currencies?
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38. When a country can produce and sell a product at a lower cost than any other country or when it is the only country that can provide a product, this is referred to as which of the following?
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39. The karakul is a breed of Central Asian sheep that produces curly, glossy wool for the manufacturing of warm hats and coats. Since the breed can be raised only in Central Asia, this region can be said to have which of the following?
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40. Venezuela can grow and sell cut flowers for floral bouquets more easily and more cheaply than most other countries can produce the same flowers. When it comes to flowers, Venezuela has which of the following?
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41. If a country specializes in goods that it can produce most readily and cheaply and trades those goods for the goods that another country can produce most readily and cheaply, then both countries are exercising which of the following principles?
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42. A policy of permitting the people of a country to buy and sell where they please, without restrictions, is called which of the following?
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43. Which of the following best describes an effect of free trade?
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44. Which of the following best describes protectionism?
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45. Why do many people fear trade and globalization?
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46. According to the text, why are some people opposed to trade and globalization?
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47. When a country establishes artificial barriers such as quotas and tariffs, it is engaging in which of the following?
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48. Which of the following is a benefit associated with free trade and globalization?
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49. What are the benefits associated with free trade and globalization?
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50. Which of the following is a benefit of global trade?
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51. Which of the following best describes the term “preferential tariff”?
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52. When South Korea reduces the tariff that Japan (but only Japan) has to pay when it imports cameras into South Korea, which of the following best describes the action?
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53. Nations sometimes form free-trade associations and establish areas where there are few, if any, export and import duties or other regulations that would act as barriers to trade among partners. Which of the following best describes the result of this behaviour?
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54. Which of the following represents the world’s largest free-trade zone?
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55. Since NAFTA came into effect in 1994, what has been the result?
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56. Which of the following countries are in the Mercosur free-trade zone?
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57. How many countries are in the European Union?
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58. Which of the following is one of the primary objectives of the EU for all its members?
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59. Which of the following is the best motivator for a company to enter the global market?
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60. Which of the following activities is the least costly and least risky method for selling a product on the global market?
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61. The BC Cherry Growers sells much of its locally grown produce to Taiwan. Which of the following would be the easiest and least expensive way for the growers’ association to sell to global markets?
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62. U.S. plane manufacturer McDonnell-Douglas has authorized Mitsubishi Heavy Industries, a Japanese company, to use its trademarks, patents, and other proprietary knowledge to manufacture F-15 fighter planes. Mitsubishi Heavy Industries pays McDonnell-Douglas. This is an example of which of the following activities?
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63. The Sara Lee Company sells the Hanes brand of hosiery in North America. The manufacturer of this hosiery brand in Great Britain sells it under the brand name of Pretty Polly. The Sara Lee Company is using which of the following activities to broaden its global marketing base without investing in overseas plants and equipment?
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64. When a foreign company manufactures private label goods under a domestic company’s brand this is referred to as which of the following?
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65. A domestic company may decide to sign an agreement for the production of its goods by an established foreign manufacturer. Such private-label manufacturing by a foreign company is known as which of the following?
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66. Capital Radio PLC, the United Kingdom’s biggest commercial radio company, announced in 2002 that it would cooperate with Walt Disney Co. to create a radio network for children under the age of 16. The company will broadcast to a potential audience of 25 million under the name Capital Disney. This new radio network will be created as the result of which of the following arrangements?
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67. An enterprise in which two or more companies or investors (including governments) share ownership of a business and its property rights is known as which of the following?
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68. When a French company brings its patents on digital telephone switches, and Bell Canada provides the marketing know-how to a business relationship, which of the following arrangements is occurring?
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69. Active ownership of a foreign company, with direct investors having either a controlling or a large minority interest in the company, is best described as which of the following?
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70. Grand Metropolitan, a British company, purchased North American–based Pillsbury Co. in order to expand its product line and the market for its existing consumer products. Metropolitan’s purchase was an example of which of the following?
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71. Japanese automobile manufacturer Mazda began production of the Premacy SUV in Haikou, China, at a plant it built in the Chinese province and expected to make 20,000 autos in 3 years. Mazda is using which action to engage in global trading?
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72. Which of the following is a form of trading arrangement in which part or all of the payment for purchased goods or services is in the form of other goods and services?
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73. Pierre Cardin gives technical advice on textile manufacturing to China and in exchange receives silk and cashmere. This is an example of which of the following?
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74. Which of the following statements best describes dumping?
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75. In 1997, Russia and Ukraine exported carbon steel plate into Canada at a price much lower than the countries charged for the identical steel in their home markets. Russia and Ukraine were engaged in which of the following activities?
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76. By using split-run magazines (modifying the U.S. editions so they contain Canadian ads), U.S. magazine publishers can offer lower rates to advertisers and sell the magazines for less money than Canadian publishers can. According to the CMPA, the U.S. magazine publishers are engaged in which of the following?
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77. Reducing trade barriers and opening markets is the role of which of the following organizations?
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78. The Uruguay Round of trade negotiations is best described as which of the following?
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79. Which of the following agreements dramatically lowered trade barriers worldwide and created the new World Trade Organization (WTO)?
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80. The World Trade Organization (WTO) is best described by which of the following?
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81. Which of the following organizations was formed with the original purpose of helping build infrastructure in developing countries and helping relieve the debt burden of these countries?
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82. The World Bank’s emphasis has recently shifted from helping to build the infrastructure of developing countries to which of the following goals?
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83. Which of the following is an international bank that normally provides short-term loans to countries that are unable to meet their budgetary expenses?
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84. To promote trade through financial cooperation is the role of which of the following organizations?
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85. Which of the following is the sense of national consciousness that boosts the culture and interests of one country over those of all other countries?
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86. One of the difficulties in doing business in France is that often the business must be conducted in French. Therefore, which of the following attitudes appears to be extremely important in France?
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87. Which of the following concepts best represents a country’s set of beliefs, values, and social norms shared by members of society that determines what is socially acceptable?
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88. Bribery translates to kuroi kiri (black mist) in Japan, schmiergeld (grease money) in Germany, and baksheesh (tip or gratuity) in the Middle East. This differing way of looking at bribes is descriptive of differences in which of the following?
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89. Spanish customers view toothpaste as a cosmetic while consumers in the Netherlands view it as a necessary part of daily hygiene and use three times as much as their Spanish counterparts. This example illustrates the importance of which of the following when marketing this product?
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90. Which of the following is part of a nation’s infrastructure?
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91. Which of the following is described by the fact that Algeria includes 3,973 km of railroads, 104,000 km of roads, and 54 paved airports?
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92. Which of the following is an example of a natural trade barrier?
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93. What is a natural barrier that faces Argentina when it sells beef to Siberia?
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94. The Caucasus Mountains along the northeastern border of Georgia make it difficult for the nation to trade with other former Soviet republics that are to its north and east. The mountain range acts as which type of barrier or deterrent?
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95. Which of the following is a tax levied by a nation on imported goods?
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96. China imposes a 45 percent tax on the market value of all chickens that are imported from other countries into China. What would be another name for this type of tax?
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97. An argument in favour of protective tariffs is the “infant-industry argument.” Which of the following statements would best reflect that argument?
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98. Which of the following is a protectionist argument that says Canada should use tariffs to keep foreign labour from taking away Canadian jobs?
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99. Which of the following is an argument for tariffs that protect domestic businesses and workers?
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100. Besides tariffs, a government can use a number of other tools to restrict trade. Which of the following is a tool aimed at restricting trade?
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101. Which of the following are limitations on the quantity of certain types of goods that can be imported over a period of time?
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102. Which of the following terms refers to a total prohibition against importing certain products?
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103. In 1914, the United States prohibited the importation of Mexican avocados even though Mexico is the world’s largest producer of the fruit. This prohibition remained in effect until 1996. The ban on importing Mexican avocados is an example of which type of restriction?
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104. Which of the following are laws that require a company earning foreign currency from its exports to sell the foreign currency to a control agency, usually a central bank?
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105. Which of the following sectors does Canada have an important global role in?
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106. Which countries does BRIC stand for?
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107. The most fundamental reason for the growth in world trade is probably due to which of the following?
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108. Which of the following is an accelerating trend in the economies of India and China?
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109. Having a global vision simply means having a willingness to sell outside one’s national borders if, and when, the opportunity arises.
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110. Some multinational corporations are so large that they resemble small countries.
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111. Regardless of its size, a multinational corporation has only one corporate headquarters.
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112. Mines in South Africa produce diamonds and sell them to retailers in the United States. To South African miners, diamonds are an export.
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113. Farmers in the United States sell peanuts to Canada. To Canadians, the peanuts are an export.
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114. The difference in value between a country’s imports and exports is called its balance of payments.
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115. A trade deficit is when a country imports more than it exports.
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116. Latvia had a favourable balance of trade last year when it exported $2.3 billion and imported $3.9 billion.
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117. The difference in value between a country’s total payments and total receipts is called its balance of payments.
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118. The exchange rate is the interest rate that foreign banks receive when borrowing money from Canada.
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119. According to the principle of comparative advantage, each country should specialize in the products that it can produce most readily and cheaply and trade those products for products that foreign countries can produce most readily and cheaply.
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120. The opposite of free trade is nationalism.
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121. One of the benefits of globalization is that it spurs innovation with fresh ideas from abroad.
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122. Mercosur is a free trade zone for countries in South East Asia.
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123. The European Union has 35 member countries.
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124. The least complicated and risky way for a company to enter a foreign market is through licensing.
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125. The method for a company to enter a foreign market with the greatest financial rewards is foreign direct investment.
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126. When a country sells its products in a foreign country at a cheaper price than usual, and sometimes even at a loss, it is dumping products.
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127. The Uruguay Round of trade negotiation is an agreement that affects trade among only Latin American countries.
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128. The International Monetary Fund (IMF) was created to promote trade through financial cooperation by working to eliminate trade barriers.
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129. A good product transcends cultural barriers. It does not need to be changed to suit different countries or cultures.
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130. The tax that Canada imposes on imported carbon steel products is called a tariff.
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131. Limitations on the quantity of certain types of goods that can be imported over a period of time are called import quotas.
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132. A complete ban on trading with another country is called an entreaty.
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133. The need for businesses to expand their markets is one of the most fundamental reasons for the growth in world trade.
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134. BRIC stands for Brazil, Russia, India, and Canada.
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135. What do you call companies that move resources, goods, services, and skills across national boundaries without regard to the country in which their headquarters are located?
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136. How would you describe the balance of trade in a country that exports more than it imports?
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137. What happens when a country lowers the value of its currency relative to other countries?
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138. There are certain types of wood that are available only from trees grown in the Brazilian rain forest. What kind of advantage does this give Brazil over all other nations that might want to import these exotic woods?
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139. What term has the opposite meaning from “protectionism”?
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140. What three countries were the initial signers of the North American Free Trade Agreement?
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141. Companies can use several methods to participate in the global marketplace. To which of the methods is franchising most closely related?
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142. Briefly explain how an exchange of merchandise can occur without involving cash or any other form of financial consideration.
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143. What new trade organization was created by the Uruguay Round to replace the old General Agreement on Tariffs and Trade (GATT)?
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144. List the two international financial organizations that are instrumental in fostering global trade.
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145. In order to show a commercial on South Korean television, a company like Gillette must film the commercial using South Korean actors. What political consideration is most likely responsible for this legal requirement?
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146. How does an infrastructure influence a country’s economic development?
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147. There are arguments for and against the use of tariffs. What are the most likely reasons that a cattle-producing country like Argentina might have a tariff on the importation of beef?
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148. What is the most fundamental reason for the growth in world trade?
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Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
Original price was: $30.00.$20.00Current price is: $20.00.
