Limitations on the quantity of certain types of goods that can be imported over a period of time are called import quotas.

The difference in value between a country's imports and exports is called its balance of trade.

One of the advantages multinational corporations have over other companies is their ability to sidestep regulatory difficulties.

International trade-dependent jobs have grown at a rate three times the growth of U.S.-dependent jobs.

A well-designed product transcends cultural barriers. It does not need to be changed to suit different countries or cultures.

When Coca-Cola sends cases of Coke to France and receives sparkling water as payment, a countertrade has taken place.

The tax that the United States imposes on imported carbon steel products is called a tariff.

If Syria gives Lebanon a tariff advantage over other countries, Lebanon has been given a biased tariff.

Armenia had a favorable balance of trade in 2018 when it exported $800 million in goods and services and imported $1.5 billion.

A countertrade in international terms pertains to the sale of retail goods that are usually sold "over the counter."

A(n) _____ is a tax levied by a nation on imported goods.

Which of the following is NOT one of the advantages associated with multinational corporations?

A policy of permitting the people of a country to buy and sell where they please, without restrictions, is called:

When sales of cheese in the United States began to stagnate, the U.S. dairy industry looked for a quick and easy method to reach global markets. From your understanding of how companies participate in the global marketplace, you should know that the dairy industry selected:

The Japanese automobile manufacturer Mazda produces the Premacy SUV in Haikou, China at a plant it built in the Chinese province. Mazda is using _____ to engage in global trading.

A country's _____ is the set of beliefs, values, and social norms shared by members of a society that determines what is socially acceptable.

Venezuela can grow and sell cut flowers for floral bouquets more easily and more cheaply than most other countries can produce the same flowers. When it comes to flowers, Venezuela has a(n):

In 2018, Country A exported $1.237 billion and imported products valued at $5.552 billion. The difference between the dollar value of its exports and imports represents a:

Laws relating to the alcoholic content of beer have required many imported brands of beer to be labeled malt liquor when it is sold in the United States. In addition, all beer sold in the U.S. must contain an expiration date or a "best-buy" date. These laws have made it difficult for small foreign breweries to enter the U.S. market. These laws are an example of:

The most fundamental reason for the growth in world trade is probably due to: