MCQCh_01 - CHAPTER 1THE INTERNATIONAL ECONOMY AND...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 1—THE INTERNATIONAL ECONOMY AND GLOBALIZATION MULTIPLE CHOICE QUESTIONS 1. A primary reason why nations conduct international trade is because: a. Some nations prefer to produce one thing while others produce other things b. Resources are not equally distributed among all trading nations c. Trade enhances opportunities to accumulate profits d. Interest rates are not identical in all trading nations 2. International trade in goods and services is sometimes used as a substitute for all of the following except : a. International movements of capital b. International movements of labor c. Domestic production of the same goods and services d. Domestic production of different goods and services 3. If a nation has an open economy, it means that the nation: a. Allows private ownership of capital b. Has flexible exchange rates c. Has fixed exchange rates d. Conducts trade with other countries 4. International trade forces domestic firms to become more competitive in terms of: a. The introduction of new products
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/17/2012 for the course BUSINESS BU2005 taught by Professor Smith during the Three '10 term at Bond College.

Page1 / 2

MCQCh_01 - CHAPTER 1THE INTERNATIONAL ECONOMY AND...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online