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1.   An explanation of how a product begins as a country's export and later becomes an import is the theory of

A. directional trade. B. supply and demand. C. international product life cycles. D. unfair retaliation.


2.   When market demand and supply regulate the exchange rate with intervention designed to moderate the rate of change, it's called a/an

A. crawling peg. B. market method. C. independent float. D. fixed peg.


3.   In 2010, only 23 nations had GNIs greater than

A. Walmart's total annual sales. B. the total sales of Exxon Mobil and Citigroup. C. the sum of the GNIs of Japan, Germany, and France. D. the sum of the combined sales of Ford and General Electric.


4.   According to its advocates, one of the advantages of the gold standard is that it provides

A. monetary security. B. specie. C. discipline. D. flexibility. If not then its B


5.   The United Nations organ involved in trade development, education, and health issues is the

A. Secretariat. B. Economic and Social Council. C. General Assembly. D. Security Council.


6.   The exchange rate for a currency trade for delivery within two days is called the _______ rate.

A. priority B. cross C. spot D. forward


7.   The _______, a collaboration of nations pooling money to lend to countries in debt, is associated with the United Nations.



8.   An import duty that's a fixed percentage of the invoice value of an imported product is called a/an _______ duty.

A. compound B. ad valorem C. specific D. invoice


9.   Decision making in the international environment is _______ in a purely domestic environment.

A. less demanding than B. more complex than C. about the same as D. less complex than


10.   Which of the following is not one of the primary criticisms of globalization?

A. It's produced uneven results across nations and peoples.

B. It's contributed to a decline in environmental and health conditions.

C. It's increased the number of children in the work force.

D. It's had deleterious effects on labor and labor standards.


11.   The Association of Southeast Asian Nations was formed to provide members with a

A. common market. B. free trade area. C. way to join with China as a political force. D. plan for mutual protection and peaceful relations.


12.   Inflation is generally measured by calculating the changes in 

A. the prices of a variety of goods and services. B. the balance of payments of 10 nations. C. exchange prices. D. interest rates.


13.   _______ is an agreement among the countries that make up North America.



14.   An international business manager who bases decisions solely on his or her own experience or preference is using

A. internalization theory. B. the self-reference criterion. C. controllable forces. D. domestic standards.


15.   Mercantilists believed that nations should

A. import goods to raise the standard of living. B. lower import duties to establish a level playing field. C. allow an export surplus so they can accumulate gold. D. produce goods for which there's a comparative advantage.


16.   An evaluation of a country's economic and political risks made by a bank or potential investor is called a/an

A. benchmark. B. international credit score. C. country risk assessment. D. stability appraisal.


17.   _______ can be divided into portfolio and direct investment.

A. Foreign investment B. Exchange rate investment C. Production D. Domestic investment


18.   Defining a standard unit of currency by its equivalent in gold is called 

A. coinage. B. the price specie flow. C. par value. D. the gold standard.


19.   The economic cooperation of the EU is most accurately described as a

A. complete economic integration. B. common market. C. free trade area. D. customs union.


20.   Treasury and Central Bank representatives met in _______ at the end of World War II and established the IMF, the World Bank, and the gold exchange standard.


A. Jamaica B. Bretton Woods C. Diekirch D. Berlin

Solution Description

1.   An explanation of how a product begins as a country's export and later becomes an import is the theory of

A. directional trade.B. 

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