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International Business Chapter 2: Pax Romana and Economic Blocs

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Questions and Answers

What does the term Pax Romana refer to?

A period of war and instability under the Roman Empire
A type of foreign direct investment
A group of nations bound together by common trade agreements
A period of peace and stability under the Roman Empire (correct)

What is a characteristic of a 'born global' firm?

It is established as an international business from its inception (correct)
It starts as a domestic business and then expands globally
It operates in multiple sectors simultaneously
It is a small or medium-sized enterprise

What occurs when a country imports more goods and services than it exports?

Economies of scale
Foreign direct investment
Trade deficit (correct)
Trade surplus

What are the benefits of achieving economies of scale?

Decreased production costs and higher profits (B) Signup and view all the answers

What is foreign direct investment (FDI)?

An investment made by a company or individual in one country in business interests in another country (C) Signup and view all the answers

What is the term for trade barriers that restrict imports through means other than tariffs?

Nontariff barrier (C) Signup and view all the answers

What is the primary purpose of mixed aid credit?

To facilitate export activities by overcoming barriers (C) Signup and view all the answers

What is the main benefit of export consortia to foreign buyers?

A one-stop shopping center for complementary products (D) Signup and view all the answers

What is the primary goal of protectionist policies?

To protect domestic industries from foreign competition (D) Signup and view all the answers

What power does the Trade Promotion Authority (TPA) grant to the U.S. President?

The power to negotiate and submit international trade agreements to Congress (D) Signup and view all the answers

What is the primary characteristic of bilateral negotiation?

Conducted primarily between two nations (B) Signup and view all the answers

What is the main difference between bilateral and multilateral negotiation?

The number of parties involved in the negotiation (B) Signup and view all the answers

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