When a country imports more than it exports, it has a(n)
A) trade surplus.
B) favorable balance of trade.
C) favorable exchange role.
D) unfavorable balance of trade.
E) favorable balance of payments.
Question 2 - In a channel of distribution, the function of wholesaling must be performed, but the wholesaler can be removed.
Indicate whether the statement is true or false
Question 3 - Productivity is a measure of output per unit of time per worker.
Indicate whether the statement is true or false
Question 4 - Gross Domestic Product measures the total value of all final goods and services produced within a nation's physical boundaries over a given period of time.
Indicate whether the statement is true or false
Question 5 - If the United States exports 100 worth of diamonds to the Kingdom of Mocha and imports 80 worth of bows and arrows, it has a(n)
A) unfavorable balance of trade.
B) trade deficit.
C) trade surplus.
D) negative cash flow.
E) export slide.
Question 6 - Supply chain management primarily focuses on two or more stages of the marketing channel under one management.
Indicate whether the statement is true or false
Question 7 - Since ISO 9000 quality standards were developed in Switzerland and affect only European firms, they don't apply to firms in the United States doing business in Europe.
Indicate whether the statement is true or false
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