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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
trade barriers
B
political stability
C
economic conditions
D
balance of payments
2) The three key effects on a country's level of economic development are
A
balance of trade, balance of payments, and exchange rates.
B
imports, exports, and trade barriers.
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
national debt
B
balance of payments
C
foreign debt
D
trade deficit
6) With a free-trade zone, participating countries agree to
A
remove duties and other trade barriers on products traded anywhere within the countries.
B
remove duties and other trade barriers on products traded within that zone.
C
not charge money for items purchased in the zone.
D
essentially merge their economies and remove all trade barriers between them.
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
joint venture, franchising, licensing
D
licensing, franchising, joint venture
8) Which of these is NOT part of the cultural influences that impact the international business environment?
A
values
B
customs
C
climate
D
language
9) Which of these is part of a country's infrastructure?
A
educational system
B
local government
C
legal and political systems
D
utility systems
10) A decrease in GDP per capita means that
A
individuals are saving enough to invest in other businesses.
B
the economy is in recovery.
C
unemployment is low.
D
the economy is shrinking and is likely in either recession or depression.
*select an answer for all questions
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