Answer the following statements true (T) or false (F)
1. A greenfield venture is a foreign subsidiary created to exploit previously untapped natural resources in another country.
2. Free trade is the movement of goods and services among nations without political or economic obstruction.
3. Trade protectionism is a term for government measures that promote and preserve free trade globally.
4. The United States exports more to China than to any other nation.
1. FALSE
A greenfield venture is a foreign subsidiary that the owning organization has built from scratch.
2. TRUE
Free trade is the movement of goods and services among nations without political or economic obstruction.
3. FALSE
Countries often use trade protectionism, which is the use of government regulations to limit the import of goods and services, to protect their domestic industries against foreign competition.
4. FALSE
Our foremost trading partners in terms of exports are our immediate neighbors, Canada and Mexico. China is third for our exports, though the United States imports more from this country than from any other.
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Indicate whether the statement is true or false