Exam 2: The Dynamic Environment of International Trade

When foreign currencies can be traded for more dollars, U.S. products and companies are more expensive for the foreign customer and exports decrease.

After World War II, the United States provided assistance to other countries to develop their markets and improve global trade though it gained no returns on these initiatives.

In a balance-of-payments record, if the credit and debit offset each other, it means that a nation is in particularly good financial condition.

Which of the following is a basic criticism of global financial institutions?

Which were the two major challenges faced by U.S. multinational corporations at the close of the 1960s?

Which of the following are becoming a popular way to circumvent WTO guidelines and impose new duties?

In the context of monetary barriers, blockage is ideally accomplished when:

The United States and other countries require some products (automobiles in particular) to contain a percentage of "local content" to gain admission to their markets. This is an example of the stringent usage of _____ to restrict trade.

After World War II, the United States set out to infuse the ideal of capitalism throughout as much of the world as possible. The _____, aimed at assisting in rebuilding Europe, is the plan most closely associated with this endeavor.

Which of the following strategies was employed by the United States to regain its lost market share for capital goods by the late 1990s?

Why must the balance-of-payments record always be in balance? What does a balanced record signify?

Which of the following is a defining characteristic of a balance-of-payments statement?

The World Intellectual Property Organization was formed with the primary objective of overcoming inadequate monetary reserves and dealing with unstable currencies which were particularly vexing problems in global trade.

Which of the following was the most significant move of the 1980s that contributed toward international cooperation among trading nations?

Which section of the Omnibus Trade and Competitiveness Act recognizes that foreign penetration of U.S. markets can cause serious competitive pressure, loss of market share, and, occasionally, severe financial harm?

Quotas, boycotts, monetary barriers, and market barriers are examples of tariff barriers.

A tax imposed by a government on goods entering at its borders is most accurately termed as a(n) _____.

Which of the following acronyms refers to the international forum that was created for member countries to engage in the negotiation of tariffs and other barriers to trade?

The fundamental difference between quotas and import licenses as a means of controlling imports is that:

Briefly describe the three accounts of a balance-of-payments statement.