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Exam 3: Exploring Global Business

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Question 51

Multiple Choice

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The payments portion of the balance of payments-that is, payments made by the United States-does not include ______.

A) exports
B) imports
C) military spending
D) foreign aid
E) investments

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Question 52

Multiple Choice

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____, which serves as a collective-bargaining unit, has been successful in controlling the production and price of oil.

A) EFTA
B) EEC
C) Cartel
D) OPEC
E) IMF

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Question 53

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If a country imports more than it exports, its balance of trade is said to be favorable.

Who are the two largest contributors to the Asian Development Bank?

Ben Schumpert decides his company will start exporting and he wants to start at the most basic level.What action should Ben take to meet his objectives?

Landing Service Landing Service is a lawn furniture company that has been around for many years.It is known for its ability to produce furniture more efficiently than any other company in the nation.In truth, no other companies in any other nation come close.Landing Service has shipped many of its products internationally.In fact, 80 percent of its profits come from international sales.However, the Italian government has imposed a tax on imported furniture items to protect local companies.The Brazilian government, on the other hand, has imposed taxes on Landing Service products due to the government wanting a piece of the pie. Landing Service initially thought that these taxes were unfair because it was being singled out.However, after Landing Service contacted the organization that had the power to mediate this situation, the furniture company realized that the taxation it was subjected to was legal and that there was nothing it could do about it. -Refer to Landing Service.Landing Service must have contacted which of these organizations to mediate regarding unfair treatment by foreign governments?

CAFTA, NAFTA, OECD, and OPEC are all examples of

The United States joined with Mexico and Canada to promote the movement of resources and products; it formed a(n) ______.

What is meant by a multinational enterprise?

The newest forms of international business structure developed to create competitive advantage on a worldwide basis are called ______.

A tax that is levied on a foreign product entering a country is called an export tariff.

The World Bank is an example of a(n) ____, supported by industrialized nations, including the United States.

Devaluation increases the cost of foreign goods, while it decreases the cost of domestic goods to foreign firms.

The United States buys automobiles from Japan and Germany and petroleum products from many OPEC nations.The United States thus engages in _____.

A medium-sized hardware manufacturer wants to become deeply involved in exporting, but it does not yet wish to actually manufacture any of its products overseas.The company wants to maintain control over its sales while gaining experience in foreign markets.Which option would be best for this company?

Purchasing raw materials or products in other nations and bringing them into one's own country is known as importing.

Devaluation decreases the cost of foreign goods and increases the cost of domestic goods to foreign firms.

A bill of lading is issued by the transport carrier to the exporter to prove that merchandise has been shipped.

Eleven republics of the former Soviet Union are members of the

The New United Motor Manufacturing, Inc., formed by Toyota and General Motors to make cars, is an example of a(n) ______.