Liberty university busi 303 quiz 2 complete solution

Keeping track of the activity surrounding international trade and investment is done by maintaining a record of all international transactions, otherwise known as the balance of payments (BOP) Operation risk occurs when debtors in a country are unable to ensure timely payments of foreign currency debt service because of either transfer or exchange restrictions or a general lack of foreign currency Which of the following are types of risk companies are exposed to in international transactions In mathematical terms the current account is expressed as Which of the following is NOT a way that Governments promote trade The General Agreement on Tariffs and Trade (GATT) was signed on January 1, 1948 A market economy most often refers to an economic system that is under comprehensive control and regulation by a government, in accordance with the plan of economic development Risk of a claim from a previously disposed owner and risk that the current owner will be disposed Greatest wealth and resources; HDI of 0.8 or higher System that allows for the simultaneous operation of public/private owned enterprises Used as a means of compensating someone for wrongful acts known as torts Created to monitor trade around the world Comprehensive control/regulation by a government in accordance with the plan of economic development Governments block open trade within a country’s borders Quantitative restrictions Assessment of nations based upon certain achievements Quantitative restrictions Indicates the level of competitiveness of a national industry When foreign ownership increases faster than domestic ownership Governments accumulate wealth in form of gold bullion Determines the actions needed to be taken if the goal is to maximize world production Competitive Advantage of Nations Interdependent group acting as a unified whole, performing activities to achieve a common goal Used as a means for controlling Foreign Direct Investment Sum of a country’s net income from trade in goods/services Development of an entirely new operation in a foreign