Question 1

To expand Canada's profile in new and emerging markets,the Canadian government has identified 25 priority markets around the world.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a Canadian multinational?

Accepted Answer

A)  WalMart
B)  Magna
C)  Tim Hortons
D)  McDonaldsE) B) and C)
F) None of the above

Question 3

A trade deficit occurs when the value of a country's exports exceeds that of its imports.

Accepted Answer

A) True 
 B)False

Question 4

According to current Canadian laws,Canadian firms are prohibited from participating in joint ventures with foreign firms.

Accepted Answer

A) True 
 B)False

Question 5

The North American Free Trade Agreement (NAFTA)has been in place for over a decade.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following statements is the most accurate observation regarding multinational corporations?

Accepted Answer

A)  Only those firms with a physical presence in different nations qualify as a multinational corporation.
B)  Because of political and economic concerns,most multinational corporations have chosen to ignore investment opportunities in China and Russia.
C)  Rather than manage manufacturing and marketing facilities overseas,most multinational corporations attempt to enter global markets by exporting domestically produced goods.
D)  Most multinational corporations are actually small to medium-sized firms.E) A) and C)
F) C) and D)

Question 7

Canada in 2009 registered its first favourable balance of trade with the rest of the world.

Accepted Answer

A) True 
 B)False

Question 8

Which country is Canada's largest trading partner?

Accepted Answer

A)  The United States
B)  China
C)  Russia
D)  JapanE) A) and C)
F) None of the above

Question 9

Which theory states that a nation should produce and sell goods to other countries that it produces most efficiently,and buy goods produced more efficiently by other countries?

Accepted Answer

A)  Mercantilism.
B)  Bilateral advantage.
C)  Absolute advantage.
D)  Comparative advantage.E) C) and D)
F) None of the above

Question 10

Canada has thousands of franchise units in many business categories.Name two.

Accepted Answer

Tim Hortons,Molly Ma...

Question 11

Franchising is popular both domestically and internationally.

Accepted Answer

A) True 
 B)False

Question 12

A licensor may assist a licensee in what areas?

Accepted Answer

A)  Risk management.
B)  Franchising.
C)  Promotion.
D)  FDI.E) B) and C)
F) None of the above

Question 13

for a country occurs when it has a monopoly on producing a product or is able to produce it at a cost below that of all other countries.

Accepted Answer

A)  Dumping advantage
B)  Complete advantage
C)  Comparative advantage
D)  Absolute advantageE) A) and C)
F) A) and B)

Question 14

A strategic alliance is similar to a joint venture because they typically involve sharing costs,risks,management and even profits.

Accepted Answer

A) True 
 B)False

Question 15

The World Trade Organization (WTO)was established to mediate trade disputes and oversee global business practices.

Accepted Answer

A) True 
 B)False

Question 16

is the use of government regulations to limit the import of goods and services.

Accepted Answer

A)  Trade protectionism
B)  Countertrade policy
C)  Fiscal policy
D)  Monetary policyE) A) and B)
F) All of the above

Question 17

A_______ is a regional group of countries that have neither internal tariffs,nor common external tariff,where by the coordination of laws facilitating exchange among the member countries exist.

Accepted Answer

A)  joint venture
B)  trade cartel
C)  mutual trade association
D)  common marketE) None of the above
F) B) and C)

Question 18

The only deposits of a rare mineral known as shozet are found in the nation of Swanland.Since no other nation has deposits of shozet,Swanland has a(n) _______in the production of this mineral.

Accepted Answer

A)  diversified benefit
B)  absolute advantage
C)  protected advantage
D)  relative internal benefitE) A) and C)
F) C) and D)

Question 19

Which of the following represents the value of one nation's currency relative to the currencies of another country?

Accepted Answer

A)  Exchange rate
B)  Euro rate
C)  Currency rate
D)  Standard of livingE) A) and B)
F) A) and D)

Question 20

Tokyo Disneyland is an example of an export trading company.

Accepted Answer

A) True 
 B)False

Exam 3: Competing in Global Markets

According to current Canadian laws,Canadian firms are prohibited from participating in joint ventures with foreign firms.

Correct AnswerverifiedShow Answer

A trade deficit occurs when the value of a country's exports exceeds that of its imports.

Correct AnswerverifiedShow Answer

A_______ is a regional group of countries that have neither internal tariffs,nor common external tariff,where by the coordination of laws facilitating exchange among the member countries exist.

Correct AnswerverifiedShow Answer

The North American Free Trade Agreement (NAFTA)has been in place for over a decade.

Correct AnswerverifiedShow Answer

The World Trade Organization (WTO)was established to mediate trade disputes and oversee global business practices.

Correct AnswerverifiedShow Answer

To expand Canada's profile in new and emerging markets,the Canadian government has identified 25 priority markets around the world.

Correct AnswerverifiedShow Answer

Canada in 2009 registered its first favourable balance of trade with the rest of the world.

Correct AnswerverifiedShow Answer

A licensor may assist a licensee in what areas?

Correct AnswerverifiedShow Answer

A strategic alliance is similar to a joint venture because they typically involve sharing costs,risks,management and even profits.

Correct AnswerverifiedShow Answer

Which of the following represents the value of one nation's currency relative to the currencies of another country?

Correct AnswerverifiedShow Answer

is the use of government regulations to limit the import of goods and services.

Correct AnswerverifiedShow Answer

Which of the following is a Canadian multinational?

Correct AnswerverifiedShow Answer

Which country is Canada's largest trading partner?

Correct AnswerverifiedShow Answer

Canada has thousands of franchise units in many business categories.Name two.

Correct AnswerverifiedTim Hortons,Molly Ma...View AnswerShow Answer

Tokyo Disneyland is an example of an export trading company.

Correct AnswerverifiedShow Answer

Which theory states that a nation should produce and sell goods to other countries that it produces most efficiently,and buy goods produced more efficiently by other countries?

Correct AnswerverifiedShow Answer

for a country occurs when it has a monopoly on producing a product or is able to produce it at a cost below that of all other countries.

Correct AnswerverifiedShow Answer

Which of the following statements is the most accurate observation regarding multinational corporations?

Correct AnswerverifiedShow Answer

The only deposits of a rare mineral known as shozet are found in the nation of Swanland.Since no other nation has deposits of shozet,Swanland has a(n) _______in the production of this mineral.

Correct AnswerverifiedShow Answer

Franchising is popular both domestically and internationally.

Correct AnswerverifiedShow Answer

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Tim Hortons,Molly Ma...
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