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Study Guide 1

by: Krysten Batten

Study Guide 1 BUSA 1105

Krysten Batten


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About this Document

These notes cover International Markets
Intro to Business
Diantha Ellis
Study Guide
50 ?




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This 4 page Study Guide was uploaded by Krysten Batten on Sunday October 9, 2016. The Study Guide belongs to BUSA 1105 at Abraham Baldwin Agricultural College taught by Diantha Ellis in Fall 2016. Since its upload, it has received 11 views. For similar materials see Intro to Business in Business at Abraham Baldwin Agricultural College.


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Date Created: 10/09/16
1. Computers that are manufactured in the United States and sold in Norway are categorized as U.S. _____. a. imports b. countertrades c. outsourcing d. exports 2. During the past decade, the value of U.S. imports and exports has _____. A. more than doubled B. risen slightly C. remained about the same D. decrease 3. AusterTech, a U.S. company, produces computer parts and sells them to South American countries. AusterTech is engaging in the international business activity known as _____. A. exporting B. countertrade C. importing D. dumping 4. Los Angeles-based PMI Telecom purchases cell phones manufactured in Asia and sells them in the United States. PMI is engaging in the international business activity known as _____. A. importing B. countertrade C. dumping D. exporting 5. U.S. _____ make up about a quarter of the U.S. gross domestic product (GDP). A. petroleum exports B. computer technology C. exports and imports of goods and services D. production of consumer electronic products 6. When a company operates in other countries, it _____ risk. A. has no impact on B. spreads out C. eliminates D. Controls 7. Many developing nations have lower per capita incomes than highly developed countries. This fact _____. A. means that they are only likely to purchase low-tech merchandise B. indicates that they represent an insignificant market for most products C. does not mean there is little opportunity for sales. Their sheer numbers may still represent significant and growing markets. D. means that the developing nations are unlikely to experience much economic growth 8. Although people in developing nations have lower per capita incomes than more highly developed nations, their ______ represents a lucrative market for global trade. A. infrastructure B. technology C. political stability D. huge populations 9. Which of the following statements is true regarding comparative advantage? A. Developing countries possess no comparative advantage. B. A nation must first possess an absolute advantage in a particular area before it can gain a comparative advantage. C. Comparative advantage is becoming rare these days. D. Ensuring that its people are well educated is another way a nation can develop a comparative advantage in skilled human resources. 10.Even though the United States manufactures textiles, China is able to produce them more efficiently. Thus, China has a _____ in manufacturing textiles. A. trade restriction B. comparative advantage C. quota D. tarif 11.A trade deficit occurs when _____. A. imports are sold at low profits B. foreign-aid payments exceed exports C. imports exceed exports D. there is a net flow of money into a country 12.The United States has a trade surplus in which of the following items? A. Oil B. Services C. Textiles D. Technology products 13.A country with a balance of payments surplus means _____. A. monetary outflow exceeds monetary inflow B. imports exceed exports C. monetary inflow exceeds monetary outflow D. exports exceed imports 14.A country’s exchange r 15.ate is based on _____. A. the relationship between its imports and exports B. the number of foreign banks it has C. the rate at which its currency can be exchanged for currencies of other countries D. tarifs and related trade restrictions 16.Which of the following would result from devaluation of the U.S. dollar? A. Foreign goods would be less expensive for American consumers. B. Foreign firms would have to pay more to purchase U.S. assets. C. U.S. goods would sell for less abroad. D. The cost of foreign vacations for U.S. citizens would be reduced. 17.Which of the following statements is true regarding hard currencies? A. A country with hard currency is likely to have a trade deficit. B. Hard currency is difficult to convert into other currency. C. The U.S. dollar is an example of hard currency, which is easily converted into other currencies. D. Countries with hard currency typically use the barter system when exporting goods.


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