Test 8 - goes down Question 6 1 out of 1 points A country's...

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Question 1 1 out of 1 points U. S. exports are greater than U.S. imports. Correct Answer: False Question 2 1 out of 1 points The principle of ________ explains why France can produce white wine at a lower opportunity cost than the neighboring country of Germany. Correct Answer: absolute advantage Question 3 1 out of 1 points A ________ is a working partnership between companies in different countries who pool their resources to achieve goals and benefits for both firms. Correct Answer: strategic alliance Question 4 1 out of 1 points In communicating with other countries or cultures, it's valuable to understand all of the following except ________. Correct Answer: English, which is the prevalent language of business Question 5 1 out of 1 points If a foreign currency ________ relative to the U.S. dollar, Americans will pay less for goods and services bought from sellers in the country that issues the currency. Correct Answer:
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Unformatted text preview: goes down Question 6 1 out of 1 points A country's level of economic development is related to its ________. Correct Answer: standard of living Question 7 1 out of 1 points We determine a country's ________ by dividing all of the goods and services that it produces by its average population. Correct Answer: GNI per capita Question 8 1 out of 1 points One way of dealing with local laws and regulations in foreign countries is to hire local ________ to provide advice. Correct Answer: attorneys Question 9 1 out of 1 points The euro, the common currency of the European Union, facilitates trade and finance by ________. Correct Answer: simplifying exchange rate differences Question 10 1 out of 1 points According to the concept of opportunity cost, a country that decides to specialize in the production of a particular product may sacrifice the production of another. Correct Answer: True...
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Test 8 - goes down Question 6 1 out of 1 points A country's...

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