Firms That Do Not Export Often

question 31

Multiple Choice

Firms that do not export often:

• A)face problems of currency conversion.
• B)lose out on significant opportunities for cost reduction.
• C)are able to reduce their unit costs.
• D)are not intimidated by the business practices of foreign countries.
• E)explore foreign markets to see where they can leverage their technology.

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Definitions:

Fugitive Slave Act

Legislation passed in 1850 requiring the return of escaped slaves to their owners, even if they were in a free state.

Economic Integration

The process by which different countries reduce trade barriers and coordinate monetary and fiscal policies in order to create a more seamless and unified global economy.

Republican Party

One of the two major contemporary political parties in the United States, traditionally advocating for conservative policies.

Catholic Church

The largest Christian church, with more than a billion members worldwide, led by the Pope and characterized by its traditions and interpretation of Christian doctrine.