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Exam 3: Global Business

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Question 31

Multiple Choice

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How has international trade changed since the end of World War II?

A) Trade across national borders has decreased since its peak during the early to mid-1900s.
B) International trade has increased steadily since this period of time.
C) The amount of international trading has remained relatively stable since this time.
D) International trade has become completely unrestricted.
E) International trading has become much more heavily regulated and restricted by all countries.

F) C) and E)
G) B) and C)

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Question 32

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A tariff is a tax levied on a particular foreign product entering a country.

A) True
B) False

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Question 33

Multiple Choice

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Another name for an import duty is a(n)

If Germany exports $100,000 of sauerkraut to Jamaica and purchases $100,000 of Blue Mountain coffee beans from Jamaica, Germany has

A ____ is issued by the exporter's bank, ordering the importer's bank to pay for the merchandise.

The United States bans Cuban cigars and other Cuban products from entering the United States due to political difficulties.This action is called a(n)

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialise in the production of crude oil and petroleum products, and Australia can specialise in the production of wool.

Landing Service Landing Service is a lawn furniture company that has been around for many years.It is known for its ability to produce furniture more efficiently than any other company in the nation.In truth, no other companies in any other nation come close.Landing Service has shipped many of its products internationally.In fact, 80 percent of its profits come from international sales.However, the Italian government has imposed a tax on imported furniture items to protect local companies.The Brazilian government, on the other hand, has imposed taxes on Landing Service products due to the government wanting a piece of the pie. Landing Service initially thought that these taxes were unfair because it was being singled out.However, after Landing Service contacted the organisation that had the power to mediate this situation, the furniture company realised that the taxation it was subjected to was legal and that there was nothing it could do about it. -Refer to Landing Service.Because the company is known for its ability to produce lawn furniture more efficiently than any other company in the world, the company must have a(n) ____ advantage.

Devaluation decreases the cost of foreign goods and increases the cost of domestic goods to foreign firms.

The Tokyo Round

Foreign licencing is similar to

The total flow of money into a country less the total flow of money out of the country over some period of time is called the nation's balance of trade.

Arguments for imposing trade restrictions include

Exportation of large quantities of a product at a price lower than that of the same product in the home market is called dumping.

The United States buys automobiles from Japan and Germany and petroleum products from many OPEC nations.The United States thus engages in

Which of the following Asian countries has the leading economic growth?

Eleven republics of the former Soviet Union are members of the

ABC Company wants to be prepared for the ASEAN free trade area.The company plans to develop its own production and marketing facilities in one or more ASEAN countries.The best choice for ABC Company is

A complete halt to trading with a particular nation or in a particular product is called a(n)

The UK wishes to import no more than 100 million tons of sugar from India in any given year.The type of import restriction it should impose is a(n)