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Exam 3: Doing Business in Global Markets

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Question 41

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In 1999,the European Economic Community adopted a common currency known as the Euro.

A) True
B) False

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Question 42

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Idle Time Gaming,Inc.needed silicon wafers that it knew could be mass produced efficiently by Silicon City,Inc. ,a start-up firm in Indi A.The Indian company needed MSG metallurgical grade silicon)in order to make the wafers,which it knew it could get from a Chinese firm.The Chinese firm mostly owned by the Chinese government)agreed to supply the silicon to the Indian company if it could get a certain quantity of gaming hardware from Idle Time.This beneficial exchange is described as countertrading.

A) True
B) False

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Question 43

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Profitable opportunities in global markets are diminishing for small and medium sized businesses.

A common market is a group of countries that have no internal tariffs among member nations,yet have a common external tariff.

A small Italian grocery store in a large city sells five different kinds of feta cheese: Bulgarian,French,Danish,Greek,and a domestic cheese from Oregon.The domestic cheese sells for less than $2.00 per pound,while all the international cheeses are priced at over $4.00 per pound.Clearly,there is an embargo on international food products.

Reviewing the recent experience of the United States in global markets reveals that the U.S has:

Devaluation refers to a decline in the value of a nation's currency relative to other currencies.

Nikkei Auto Parts testified before Congress defending the company against an accusation that it was dumping auto parts on the U.S.market.In her testimony,the president claimed _________________.Using traditional guidelines,Congress determined that Nikkei was not dumping.

The world market is approximately ______________.

The "second wave" of offshore outsourcing refers to:

Under the floating exchange rate system,the value of a country's currency is determined by:

One characteristic of an international joint venture is all parties sharing the risk of a major project.

Carrie,a United States resident says that her home computer was made in Japan.Carrie purchased an) :

The value of Chinese exports coming to the United States is greater than the value of goods China buys from the United States.This results in a U.S.trade deficit with Chin A.

The value of goods imported into France exceeds the value of French exports.This indicates that France:

One objective of NAFTA is:

Which of the following is considered when calculating a country's balance of payments?

The U.S.and China no.1 and no.2 global powers) continue to spar over sociocultural issues,such as human rights,and economic and financial issues,such as the value of the Chinese Yuan against the U.S.dollar.U.S.diplomats complain that these differences continue to bolster China's favorable balance of trade and increase the U.S.trade deficit.The trade protectionist policy exhibited by the Chinese is similar to an economic policy known as ____________ that was followed during the 17th and 18th centuries.This policy resulted in a flow of money to the country that sold the most globally.

Rosa's aunt was taking a cruise to Brazil.She suggested to Rosa that she would be glad to buy her some jewelry while in port in Rio de Janeiro because the exchange rate would be to her benefit.This means:

An example of a U.S.import would be the purchase of oil by U.S.companies from Saudi Arabi A.