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PBFUnit 1

QuestionAnswer
Aruba has become globally known for its white sandy beaches. It is relied upon by many travelers from other countries to enjoy its beaches at a reasonable cost. This is an example of what type of ADVANTAGE? Absolute
Alaska produces more salmon by the pound than any other state that exports salmon. This is an example of what type of ADVANTAGE? Absolute
United States has become globally known for its production of wheat more resourcefully. It can produce the product with less human resources. This is an example of what type of ADVANTAGE? Comparative
Balance of payments is favorable when a country receives more money into it than it pays out. (True or False) True
If a country is in a civil war and its government changes abruptly, this is an example of which factor that influences international currency exchange? Political Stability
The government of the United States allows consumers to make decisions about goods and services consumed. Which main factor of the international business environment is this information about this country classified? Political and Legal Concerns
If China has rising interest rates and inflation occurring across the country, this is an example of which factor that influences international currency exchange? Economic Conditions
Laos has limited infrastructure that will hinder international businesses to conduct transactions in it. This country depends heavily on the agricultural industry. Economic Development
India’s terrain allows for its major production of rice, cotton, and wheat. Which main factor of the international business environment is this information about India classified? Geography
Before arriving at meetings in other countries to negotiate contracts for a company located in the United States, Stacy learns about appropriate business behavior of the other countries. Cultural influences
While conducting business in Japan, Shari adjusted her gift-giving practices to accommodate her Japanese business-partners. Which main factor of the international business environment did Shari consider? Cultural Influences
India limits the amount of imported wheat products to protect its own industry. This is an example of which international trade barrier? Quotas
Cuba bans American products to be sold within its country. This is an example of which international trade barrier? Embargoes
Syria is banned from selling products within other countries. This is an example of which international trade barrier? Embargoes
Due to the high volume of travelers visiting the United Kingdom, the country has set up duty-free shops in highly visited areas. This is an example of which encouragement of international trade? Free-Trade Zones
The North American Free Trade Association (NAFTA) eliminates tariffs and embargoes among its members while trading goods and services. This is an example of which encouragement of international trade? Free-Trade Agreement
Several Prime Ministers of East African countries are negotiating the trade of products and services throughout the Eastern region. This is an example of which encouragement of international trade? Common Markets
An organization assisted two countries on settling a trade disagreement on the amount of bananas to be traded. This action is an example of assistance provided by which international trade organization? World Trade Organization
A convenience store gave the rights to a company in Mexico to sell its products and services. This is an example of which global marketplace main entry mode? Franchising
An organization assisted two countries on settling a trade disagreement on tariffs. This action is an example of assistance provided by which international trade organization? World Trade Organization
Companies located in the Research Triangle Park reported that they have hired many graduates who have earned technology degrees from the local community college. Which resource will the graduates provide for the companies? Human
Widgets Unlimited Company examined several options of additional benefits to offer its employees. The company has decided to offer health care insurance. Which part of the economic decision-making process has it performed? Choosing one choice
Pamolive Detergent Company produces fewer products - is an example of a company establishing ___________ Supply
If an economist researches annually the total value of homes built, this information would be useful for which measurement of economic activities? GDP
When a government agency reports annually the total amount spent to pay employees, this information is useful for which measurement of economic activities? GDP
In a hypothetical economy, only 40 people were included and 15 pizzas were produced last year at $7 dollars each. This information would be useful for which measurement of economic activities? GDP per capita
Due to decreasing enrollment in a local school system, fewer teachers as employees are needed. As a result, over 100 teachers were released from their commitments. This information would be useful for which measurement of economic activities? Labor activities
A cosmetic company purchased an automatic wrapping machine that wraps a pallet of boxes in 30 seconds. To complete the same task manually, it would take an employee almost 3 minutes. Which Measurement of Economic Activity? Labor activities
Department stores report monthly to the state commerce office its total sales of goods and services. This information would be useful for which measurement of economic activities? Consumer spending
Mary is proud of saving over $43,000 in a bank. She knows that her saving money at the bank will provide funds for others to borrow money. This information would be useful for which measurement of economic activities? Investment activities
A report covering four quarters about the economy includes that more companies are experiencing less production and reducing the number of employees. Which phase of the business cycle does this report describe? Recession
A report covering several quarters about the economy includes that more companies are experiencing record high production and adding new employees. Also, wages and the rate of GDP are increasing significantly. Which phase of the business cycle is this? Prosperity
Balance of payments is favorable when a country receives more money into it than it pays out True
Created by: EddieS on 2012-09-17



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