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BML Test 2 Set 1
Test Description: BML Test 2 Set 1
Instructions: Answer all questions to get your test result.
1) Which of these is NOT a main factor that affects currency exchange rates among countries?
A
economic conditions
B
political stability
C
trade barriers
D
balance of payments
2) The three key effects on a country's level of economic development are
A
imports, exports, and trade barriers.
B
balance of trade, balance of payments, and exchange rates.
C
absolute advantage, political stability, and infrastructure
D
literacy, technology, and agricultural dependency.
3) Which of the following is an example of a multinational strategy?
A
Dannon sells multiple flavors of yogurt in every nation in which it operates.
B
American Airlines offers flights to many different nations.
C
Ford produces, advertises and sells its trucks only in the North American market.
D
Reebok uses the same advertising everywhere.
4) Which of the following would likely cause the value of the dollar to fall?
A
higher inflation in the US
B
OPEC raises its oil production, reducing the price of oil the US purchases
C
high US trade surplus
D
low US interest rates
5) The amount a country owes to other countries is called
A
trade deficit
B
foreign debt
C
national debt
D
balance of payments
6) With a free-trade zone, participating countries agree to
A
essentially merge their economies and remove all trade barriers between them.
B
remove duties and other trade barriers on products traded within that zone.
C
remove duties and other trade barriers on products traded anywhere within the countries.
D
not charge money for items purchased in the zone.
7) List the methods of entering a foreign market in order of most risky to least risky.
A
joint venture, licensing, franchising
B
licensing, joint venture, franchising
C
licensing, franchising, joint venture
D
joint venture, franchising, licensing
8) Which of these is NOT part of the cultural influences that impact the international business environment?
A
climate
B
values
C
language
D
customs
9) Which of these is part of a country's infrastructure?
A
utility systems
B
legal and political systems
C
educational system
D
local government
10) A decrease in GDP per capita means that
A
unemployment is low.
B
individuals are saving enough to invest in other businesses.
C
the economy is in recovery.
D
the economy is shrinking and is likely in either recession or depression.
*select an answer for all questions
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