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BML Chapter 2 Set 2
Test Description: BML Test 2 set 2
Instructions: Answer all questions to get your test result.
1) Compares the prices of a group of selected items each year to some earlier year.
A
consumer price index (CPI)
B
GDP per capita
C
unemployment rate
D
retail sales
2) Domestic business refers to
A
business activities that involve selling products made in a different country.
B
business involving maids, cooks, gardeners, etc.
C
business activities occurring completely within a single country's borders.
D
business that takes place between businesses in different countries.
3) In the U.S., the labor force consist of all people above age ___ who are actively working or seeking work.
A
18
B
16
C
20
D
14
4) Drawbacks of MNCs include
A
the MNC makes available more employment opportunities in the host country.
B
the MNC usually brings new products into the host country's markets.
C
the MNC often offers higher wages than existing businesses in the host countries.
D
the MNC sometimes controls the political process in the host country.
5) Franchising is
A
allowing the use of a name, picture or logo in exchange for a fee or royalty.
B
selling a particular process and knowledge of how to operate a specific business in a certain way.
C
two companies share product development, manufacturing and marketing on a particular project.
D
sharing ownership of a business with others.
6) A(n) ________________ company is an organization that does business in several countries.
A
universal
B
global
C
multinational
D
intergalactic
7) The difference between a country's total exports and total imports is called
A
balance of trade
B
foreign debt
C
profits
D
balance of payments
8) The difference between the amount of money that comes into a country and the amount that goes out of it is called
A
foreign debt
B
profits
C
balance of payments
D
balance of trade
9) The goals of the World Trade Organization include
A
maintaining quotas, tariffs and embargoes.
B
offering expertise in economic development to impoverished countries.
C
eliminating formal trade barriers.
D
regulating currency exchange rates.
10) A decrease in prices and an increase in the buying power of the dollar
A
deflation
B
trade deficit
C
inflation
D
depression
*select an answer for all questions
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