# Question

Correct
Answer
Student
Answer
Result
Points
Awarded
1
Fast-growing economies like
China, India and Russia are often
referred to as:
Emerging
markets
Emerging
markets
Correct 10
2
Which of these involves a ban of
certain imported goods
Embargo Embargo Correct 10
3
An economy that trades freely with
others is said to be:
Open Liberal Incorrect 0
4
The use of trade barriers to restrict
access to an economy is known
as:
Protectionism Protectionism Correct 10
5
A possible downside of introducing
trade barriers is that:
Other countries
will retaliate
Competitors will
resort to
dumping
Incorrect 0
6
An argument in favour of imposing
trade barriers is that they may
Protect small or
new industries
Protect small or
new industries
Correct 10
7
A business that has operations in
more than country is known as a:
Multinational Multinational Correct 10
8
Investment by firms like Toyota in
UK factories is an example of:
Foreign direct
investment
Foreign direct
investment
Correct 10
9
A custom duty levied on the value
of imported goods entering a
country is known as a:
Tariff Tariff Correct 10
10
The price of a currency expressed
in terms of another currency is:
An exchange
rate
An exchange
rate
Correct 10

14-1. Approximately ___ percent of the exports by Canadian organizations go
to businesses, consumers, and governments in the United States.
a. 10.
b. 25.
c. 50.
d. 80.
14-2. Which of the following refers to the conduct across national boundaries
of business of all kinds, including financial transactions, the purchase of
insurance from a foreign company, and even the expenditures of foreign
tourists?
a. international trade.
b. foreign relations.
c. international business.
d. international management.
14-3. The world's international trade is now estimated to be:
a. $4 billion.
b. $2 trillion.
c. $4 trillion.
d. $10 trillion.
14-4. Which of the following describes an arrangement in which a company
that produces goods in one country contracts with a distribution organization
in another country for marketing in the second country?
a. exporting.
b. trading company.
c. piggyback distribution.
d. localization arrangement.
14-5. Which of the following describes a bartering arrangement that provides
for the exchange of goods for other goods, or the exchange of goods for other
obligations that do not require direct payment?
a. countertrading.
b. joint venture.
c. franchising.
d. exporting.
14-6. Which of the following describes payments to a government to bring
products into a country?
a. taxes.
b. tariffs.
c. non-tariff barriers.
d. quotas.
14-7. Which of the following forms of economic integration describes the most
integration among countries?
a. common market.
b. economic union.
c. common union.
d. free trade area.
14-8. Which of the following organizations has helped stabilize currency
exchange rates?
a. World Trade Organization (WTO).
b. International Monetary Fund.
c. Bank for International Settlements.
d. World Bank.
14-9. Which of the following is not a major challenge facing Canadian
organizations functioning in the global environment?
a. to maintain the quality of Canadian products.
b. to maximize the benefits from trading blocs that include Canada.
c. to reduce sales in Canada to allow an increased focus on the global
environment.
d. to minimize the barriers that are put up by trading blocs that exclude
Canada.
14-10. Which of the following terms describes the differences in language,
perceptions of time and authority, mannerisms, and attitudes that exist both
within and among different societies?
a. economic environment.
b. cultural diversity.
c. social environment.
d. political-legal environment.
14-11. Which of the following describes an agreement between two
businesses in which they share technology, market connections, or some
other advantage that one has the other lacks?
a. direct ownership.
b. venture capital.
c. strategic alliance.
d. economic union.
14-12. Which of the following countries had less total exports and imports than
Canada in 1997?
a. Germany.
b. People's Republic of China.
c. France.
d. Japan.
14-13. The sum of exports and imports in Canada is approximately ____
percent of Canada's Gross Domestic Product (GDP).
a. 10.
b. 25.
c. 60.
d. 90.
14-14. Which of the following organizations has the potential to create a free
trade area encompassing half of the world's international trade?
a. Asia-Pacific Economic Co-operation Forum (APEC).
b. The Association of Southeast Asian Nations (ASEAN).
c. The Commonwealth of Independent States (CIS).
d. The Association of World Economies (AWE)
14-15. The most direct impact of NAFTA on Canada-US trade is in which of
the following areas?
a. Mexico's inclusion in 1995.
b. reduction of tariffs.
c. increase in tariffs.
d. reduced unemployment rate.