Question 1

What are the differences between antidumping and countervailing duties? Under what conditions are these duties imposed?

Accepted Answer

Dumping essentially refers to the sale of merchandise in export markets at unfair prices. In order to offset the impact of dumping and to penalize guilty companies, most countries have introduced legislation providing for the imposition of antidumping duties. These duties are levied if injury is caused to domestic producers. Such duties are normally imposed as special additional import charges equal to the dumping margin. They are almost invariably applied to products that are also manufactured or grown in the importing country. In the United States, antidumping duties are assessed after the commerce department finds a foreign company guilty of dumping and the International Trade Commission rules if the dumped products injured American companies. Countervailing duties, on the other hand, are additional duties levied to offset subsidies granted in the exporting country. In the United States, countervailing duty legislation and procedures are very similar to those pertaining to dumping. The U.S. Commerce Department and the International Trade Commission jointly administer both the countervailing duty and antidumping laws.

Question 2

Exports from China have grown significantly in the years since China joined the World Trade Organization (WTO).

Accepted Answer

A) True 
 B)False  True

Question 3

After recovering from the destruction of its economy during World War II, ________ became an economic superpower as a direct result of export strategies.

Accepted Answer

A)  Hong Kong 
B)  China 
C)  Italy 
D)  Japan 
E)  Germany 
A)  Hong Kong 
B)  China 
C)  Italy 
D)  Japan 
E)  Germany E

Question 4

A number of explanations have been offered for the low level of U.S. exports relative to other countries. All of the following can be considered as reasons for low level of exports except:

Accepted Answer

A)  limited ambition by many American business owners. 
B)  lack of knowledge of market opportunities abroad. 
C)  perceived lack of necessary resources. 
D)  marketing to home-country users is easier than exporting. 
E)  a strong U.S. dollar translates into less affordable prices in export markets. 
A)  limited ambition by many American business owners. 
B)  lack of knowledge of market opportunities abroad. 
C)  perceived lack of necessary resources. 
D)  marketing to home-country users is easier than exporting. 
E)  a strong U.S. dollar translates into less affordable prices in export markets.

Question 5

The top ranked country among those exporting apparels to the United States is:

Accepted Answer

A)  Taiwan. 
B)  China. 
C)  Mexico. 
D)  India. 
E)  Honduras. 
A)  Taiwan. 
B)  China. 
C)  Mexico. 
D)  India. 
E)  Honduras.

Question 6

Officially, the EU tariffs on Chinese and Vietnamese shoe imports are known as:

Accepted Answer

A)  countervailing duties. 
B)  antidumping duties. 
C)  specific duties. 
D)  ad valorem duties. 
E)  temporary surcharges. 
A)  countervailing duties. 
B)  antidumping duties. 
C)  specific duties. 
D)  ad valorem duties. 
E)  temporary surcharges.

Question 7

The furniture industry has become one of the fastest-growing sectors of China's economy. Furniture imports are flooding into the United States from China. This can be attributed to:

Accepted Answer

A)  the quality of furniture is better than that made in Europe. 
B)  American tastes in décor have changed. 
C)  China's low labor rates translate into reasonable prices for consumers. 
D)  China can survive tough competition. 
E)  replacement parts are readily available from China. 
A)  the quality of furniture is better than that made in Europe. 
B)  American tastes in décor have changed. 
C)  China's low labor rates translate into reasonable prices for consumers. 
D)  China can survive tough competition. 
E)  replacement parts are readily available from China.

Question 8

When Honda's U.S. manufacturing subsidiaries purchase parts from Japan, customs authorities in the United States have the right to scrutinize the transfer price to make sure it is a fair reflection of market value.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following incorrectly states the role of banks in import/export transactions involving a letter of credit (L/C)?

Accepted Answer

A)  The exporter's bank is the advising and/or confirming bank. 
B)  The importer's bank is the advising and/or confirming bank. 
C)  The importer's bank is the advising, confirming, and issuing bank. 
D)  The exporter's bank is the advising, confirming, and issuing bank. 
E)  The importer's bank is neither advising nor confirming bank. 
A)  The exporter's bank is the advising and/or confirming bank. 
B)  The importer's bank is the advising and/or confirming bank. 
C)  The importer's bank is the advising, confirming, and issuing bank. 
D)  The exporter's bank is the advising, confirming, and issuing bank. 
E)  The importer's bank is neither advising nor confirming bank.

Question 10

What are some of the entities that an exporter should be familiar with? Describe and explain the role played by each of these entities, separating those that have responsibilities from exporters from those that have no responsibilities from the exporters.

Accepted Answer

Key export entities include purchasing a

Question 11

In an export/import transaction requiring a letter of credit (L/C), the exporter's (seller's) bank can be known as the "advising" bank, the "confirming" bank, or both.

Accepted Answer

A) True 
 B)False

Question 12

CVDs are additional duties levied by exporting countries on imported videodiscs.

Accepted Answer

A) True 
 B)False

Question 13

The organizational decision to purchase production inputs, components, or finished goods from domestic or foreign producers is known as the ________ decision.

Accepted Answer

A)  import/export 
B)  NTB 
C)  preferential 
D)  sourcing 
E)  security 
A)  import/export 
B)  NTB 
C)  preferential 
D)  sourcing 
E)  security

Question 14

Which set of documents generally represents the minimum documentation required to clear a shipment through customs?

Accepted Answer

A)  packing list, commercial invoice 
B)  bill of exchange, commercial invoice 
C)  certificate of origin, bill of exchange 
D)  packing list, insurance certificate 
E)  letter of credit, commercial invoice 
A)  packing list, commercial invoice 
B)  bill of exchange, commercial invoice 
C)  certificate of origin, bill of exchange 
D)  packing list, insurance certificate 
E)  letter of credit, commercial invoice

Question 15

Exporting is considered as essentially a developmental process. What are the stages in which this process can be divided?

Accepted Answer

The stages can be divided as shown in th

Question 16

Export management company (EMC) is an independent marketing intermediary that acts as the export department for two or more manufacturers (principals) whose product lines compete with each other.

Accepted Answer

A) True 
 B)False

Question 17

Overall, Italy's retail sector has pursued very little international expansion; by contrast, other European supermarket chains such as Tesco (UK), Metro (Germany), and Carrefour (France) took local products and brands with them as they expanded around the globe.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following completely eliminates the risk of nonpayment by an importer or a bank in an international transaction?

Accepted Answer

A)  documentary credit (letter of credit) 
B)  documentary collection 
C)  cash in advance 
D)  sales on open account 
E)  draft 
A)  documentary credit (letter of credit) 
B)  documentary collection 
C)  cash in advance 
D)  sales on open account 
E)  draft

Question 19

Representatives of the apparel, footwear, furniture, and textile industries in many countries are deeply concerned about the impact that increased trade with ________ will have on these sectors.

Accepted Answer

A)  Hong Kong 
B)  China 
C)  Italy 
D)  India 
E)  Bangladesh 
A)  Hong Kong 
B)  China 
C)  Italy 
D)  India 
E)  Bangladesh

Question 20

The only marketing mix element that is applicable in export selling is:

Accepted Answer

A)  price. 
B)  product. 
C)  promotion. 
D)  place. 
E)  process. 
A)  price. 
B)  product. 
C)  promotion. 
D)  place. 
E)  process.

What are the differences between antidumping and countervailing duties? Under what conditions are these duties imposed?

Exports from China have grown significantly in the years since China joined the World Trade Organization (WTO).

After recovering from the destruction of its economy during World War II, ________ became an economic superpower as a direct result of export strategies.

A number of explanations have been offered for the low level of U.S. exports relative to other countries. All of the following can be considered as reasons for low level of exports except:

The top ranked country among those exporting apparels to the United States is:

Officially, the EU tariffs on Chinese and Vietnamese shoe imports are known as:

The furniture industry has become one of the fastest-growing sectors of China's economy. Furniture imports are flooding into the United States from China. This can be attributed to:

When Honda's U.S. manufacturing subsidiaries purchase parts from Japan, customs authorities in the United States have the right to scrutinize the transfer price to make sure it is a fair reflection of market value.

Which of the following incorrectly states the role of banks in import/export transactions involving a letter of credit (L/C)?

What are some of the entities that an exporter should be familiar with? Describe and explain the role played by each of these entities, separating those that have responsibilities from exporters from those that have no responsibilities from the exporters.

In an export/import transaction requiring a letter of credit (L/C), the exporter's (seller's) bank can be known as the "advising" bank, the "confirming" bank, or both.

CVDs are additional duties levied by exporting countries on imported videodiscs.

The organizational decision to purchase production inputs, components, or finished goods from domestic or foreign producers is known as the ________ decision.

Which set of documents generally represents the minimum documentation required to clear a shipment through customs?

Exporting is considered as essentially a developmental process. What are the stages in which this process can be divided?

Export management company (EMC) is an independent marketing intermediary that acts as the export department for two or more manufacturers (principals) whose product lines compete with each other.

Overall, Italy's retail sector has pursued very little international expansion; by contrast, other European supermarket chains such as Tesco (UK), Metro (Germany), and Carrefour (France) took local products and brands with them as they expanded around the globe.

Which of the following completely eliminates the risk of nonpayment by an importer or a bank in an international transaction?

Representatives of the apparel, footwear, furniture, and textile industries in many countries are deeply concerned about the impact that increased trade with ________ will have on these sectors.

The only marketing mix element that is applicable in export selling is:

Introduction to Global Marketing

The Global Economic Environment

The Global Trade Environment

Social and Cultural Environments

The Political, Legal, and Regulatory Environments

Global Information Systems and Market Research

Segmentation, Targeting, and Positioning

Global Market Entry Strategies: Licensing, Investment, and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions Ii: Sales Promotion, Personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Strategic Elements of Competitive Advantage

Leadership, Organization, and Corporate Social Responsibility

Filters

Exam 8: Importing, Exporting, and Sourcing

What are the differences between antidumping and countervailing duties? Under what conditions are these duties imposed?

Exports from China have grown significantly in the years since China joined the World Trade Organization (WTO).

After recovering from the destruction of its economy during World War II, ________ became an economic superpower as a direct result of export strategies.

A number of explanations have been offered for the low level of U.S. exports relative to other countries. All of the following can be considered as reasons for low level of exports except:

The top ranked country among those exporting apparels to the United States is:

Officially, the EU tariffs on Chinese and Vietnamese shoe imports are known as:

The furniture industry has become one of the fastest-growing sectors of China's economy. Furniture imports are flooding into the United States from China. This can be attributed to:

When Honda's U.S. manufacturing subsidiaries purchase parts from Japan, customs authorities in the United States have the right to scrutinize the transfer price to make sure it is a fair reflection of market value.

Which of the following incorrectly states the role of banks in import/export transactions involving a letter of credit (L/C)?

What are some of the entities that an exporter should be familiar with? Describe and explain the role played by each of these entities, separating those that have responsibilities from exporters from those that have no responsibilities from the exporters.

In an export/import transaction requiring a letter of credit (L/C), the exporter's (seller's) bank can be known as the "advising" bank, the "confirming" bank, or both.

CVDs are additional duties levied by exporting countries on imported videodiscs.

The organizational decision to purchase production inputs, components, or finished goods from domestic or foreign producers is known as the ________ decision.

Which set of documents generally represents the minimum documentation required to clear a shipment through customs?

Exporting is considered as essentially a developmental process. What are the stages in which this process can be divided?

Export management company (EMC) is an independent marketing intermediary that acts as the export department for two or more manufacturers (principals) whose product lines compete with each other.

Overall, Italy's retail sector has pursued very little international expansion; by contrast, other European supermarket chains such as Tesco (UK), Metro (Germany), and Carrefour (France) took local products and brands with them as they expanded around the globe.

Which of the following completely eliminates the risk of nonpayment by an importer or a bank in an international transaction?

Representatives of the apparel, footwear, furniture, and textile industries in many countries are deeply concerned about the impact that increased trade with ________ will have on these sectors.

The only marketing mix element that is applicable in export selling is:

Introduction to Global Marketing

The Global Economic Environment

The Global Trade Environment

Social and Cultural Environments

The Political, Legal, and Regulatory Environments

Global Information Systems and Market Research

Segmentation, Targeting, and Positioning

Global Market Entry Strategies: Licensing, Investment, and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions Ii: Sales Promotion, Personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Strategic Elements of Competitive Advantage

Leadership, Organization, and Corporate Social Responsibility

Filters