2 Test - Chapter 2 - World Trade, An Overview - Quizlet SOLUTION

1/10/2019 Test: Chapter 2: World Trade, An Overview | Quizlet
NAME
7 Matching questions
1. Define Multinational Corporation

0
INCORRECT
A. The close cultural ties, "common cultural language", which
No answer given lead to strong economic trade ties
THE ANSWER
D. The multiple different corporation that the nations import B. Most trade are in manufactured goods, while historically
and export between their division agricultural and mineral product makes up most of the trade.
2. Define Distance C. The distance between market transportation cost as in the

INCORRECT imports and exports during a trade
No answer given
THE ANSWER
D. The multiple different corporation that the nations import
and export between their division
C. The distance between market transportation cost as in the
imports and exports during a trade
E. When a firm that provides services
3. Define Geography moves its operations to a foreign location. However it is not a
significant part of trade
INCORRECT
No answer given
F. It is the crossing borders that involves formalities that take
THE ANSWER
time, and exchanged perhaps monetary costs like tariffs
G. The ocean harbors and a lack of mountain barriers to reduce trade.
make transportation and trade easier.
G. The ocean harbors and a lack of mountain barriers to

4. Define the trade of today's
make transportation and trade easier.
INCORRECT
No answer given
THE ANSWER
B. Most trade are in manufactured goods, while historically

agricultural and mineral product makes up most of the trade.
5. Define Cultural Affinity
INCORRECT
No answer given
THE ANSWER
A. The close cultural ties, "common cultural language", which

lead to strong economic trade ties
https://quizlet.com/189364072/test?answerTermSides=2&promptTermSides=6&questionCount=20&questionTypes=14&showImages=true 1/5
6. Define Service Outsourcing( Or Offshoring)
INCORRECT
No answer given
THE ANSWER
E. When a firm that provides services

moves its operations to a foreign location. However it is not a
significant part of trade
7. Define Borders
INCORRECT
No answer given
THE ANSWER
F. It is the crossing borders that involves formalities that take

time, and exchanged perhaps monetary costs like tariffs reduce
trade.
7 Multiple choice questions
1. China, consist of manufactured goods about 90%
A.
No answer given
B.
What is the largest developing country and rapidly growing force in World Trade?
C. What 2 things increase the trade between countries?
D. What 1 thing influence and increase trade?
E. What is the Gravity Model Equation?
2. Europeans countries have the largest "Gross Domestic Product (GDP)"
A.
No answer given
B. Why do they have "Trade Agreement" between countries?
C. What does the gravity model predicts?
D. What did large fraction volume trade came from in the past?
E.
Why does U.S. trade more with European countries than other?
3. Larger economies produce more goods and service, generate more income so they are able to buy more important. Among
that, trading between any two countries is larger than one.
A.
No answer given
B. What does the gravity model predicts?
C.
What is good about volumes/larger economies?
D. What are some Political Factors?
E. What can the Gravity Model do?
4. To reduce tariffs that is needed to cross

borders, and therefore to increase trade between the countries.
A.
No answer given
B. What are few impediments to trade besides the size matter for trade?
C. What does the gravity model predicts?
D.
Why do they have "Trade Agreement" between countries?
E. Why does U.S. trade more with European countries than other?
5. It can look for Anomalies (Something different, unexpected, not normal).
Ex) Netherlands & Belgium have transport cost advantage due to their location compare to European Countries
A.
No answer given
B. What does the gravity model predicts?
C. Why is "World Trade" special?
D.
What can the Gravity Model do?
E. What are some Political Factors?
6. Culture, Geography, Multinational Corporations, & Existences of borders influence trade
A.
No answer given
B. What are some Political Factors?
C.
What influence trades?
D. Define Cultural Affinity
E. What did large fraction volume trade came from in the past?
7. Agricultural and Mineral Products. It was mainly from Britain.
A.
No answer given
B.
What did large fraction volume trade came from in the past?
C. What 2 things increase the trade between countries?
D. Why does U.S. trade more with European countries than other?
E. What 1 thing influence and increase trade?
6 True/False questions
1. It is the start of a fraction in world trade GDP to achieve unprecedented heights. It grew rapidly from 1870-1913 but suffered a
sharp decline in Great Depression → Why is "World Trade" special?
INCORRECT
No answer given
THE ANSWER
True
2. Free trade agreement between Mexico & Canada, which is called North America Free Trade Agreement (NAFTA) → What did
U.S. signed in 1994?
INCORRECT
No answer given
THE ANSWER
True
3. The volume of trade that is directly related to GDP of each partners, and inversely relates it to the distance between
them. → What can the Gravity Model do?
INCORRECT
No answer given
THE ANSWER
False
It should be → What does the gravity model predicts?
4. A factor is such as wars, because it can change trade patterns much more innovation in transportation and communication
Ex) The Great Depression → What are some Political Factors?
INCORRECT
No answer given
THE ANSWER
True
5. There are 5 things.
1) Distance. 2) Cultural Affinity. 3) Geography. 4) Multinational Corporation. 5) Border → Why do they have "Trade Agreement"
between countries?
INCORRECT
No answer given
THE ANSWER
False
It should be → What are few impediments to trade besides the size matter for trade?
6. The Political factors have influence trade more in history → What 1 thing influence and increase trade?
INCORRECT
No answer given
THE ANSWER
True

2 Test - Chapter 2 - World Trade, An Overview - Quizlet SOLUTION

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2 Test - Chapter 2 - World Trade, An Overview - Quizlet SOLUTION

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1/10/2019 Test: Chapter 2: World Trade, An Overview | Quizlet

1. Define Multinational Corporation

2. Define Distance C. The distance between market transportation cost as in the

G. The ocean harbors and a lack of mountain barriers to

B. Most trade are in manufactured goods, while historically

5. Define Cultural Affinity

A. The close cultural ties, "common cultural language", which

6. Define Service Outsourcing( Or Offshoring)

E. When a firm that provides services

F. It is the crossing borders that involves formalities that take

7 Multiple choice questions

1. China, consist of manufactured goods about 90%

C. What 2 things increase the trade between countries?

D. What 1 thing influence and increase trade?

E. What is the Gravity Model Equation?

2. Europeans countries have the largest "Gross Domestic Product (GDP)"

B. Why do they have "Trade Agreement" between countries?

C. What does the gravity model predicts?

B. What does the gravity model predicts?

D. What are some Political Factors?

E. What can the Gravity Model do?

4. To reduce tariffs that is needed to cross

C. What does the gravity model predicts?

5. It can look for Anomalies (Something different, unexpected, not normal).

B. What does the gravity model predicts?

C. Why is "World Trade" special?

E. What are some Political Factors?

6. Culture, Geography, Multinational Corporations, & Existences of borders influence trade

B. What are some Political Factors?

D. Define Cultural Affinity

7. Agricultural and Mineral Products. It was mainly from Britain.

C. What 2 things increase the trade between countries?

E. What 1 thing influence and increase trade?

Ex) The Great Depression → What are some Political Factors?

5. There are 5 things.

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