Question 1

Exporting countries sometimes agree to voluntary export restraints (VER)as an alternative to the threat of:

Accepted Answer

A) expulsion. 
B) disorderly marketing agreements. 
C) stiffer quotas and tariffs. 
D) export subsidies 
E) standardization disparities 
A) expulsion. 
B) disorderly marketing agreements. 
C) stiffer quotas and tariffs. 
D) export subsidies 
E) standardization disparities

Question 2

The WTO (World Trade Organization)is an institution,not an agreement as was GATT.

Accepted Answer

A) True 
 B)False

Question 3

The International Monetary Fund (IMF)was created to serve as a watchdog over most international financial transactions between nations.

Accepted Answer

A) True 
 B)False

Question 4

Section 301 of the Omnibus Trade and Competitiveness Act authorizes the U.S.government to _____________ and ___________ against specific foreign trade barriers judged to be unfair.

Accepted Answer

A) suppress,attack 
B) educate,substantiate 
C) investigate,retaliate 
D) market,dominate 
E) litigate,retaliate 
A) suppress,attack 
B) educate,substantiate 
C) investigate,retaliate 
D) market,dominate 
E) litigate,retaliate

Question 5

American beef continues to be excluded in this country's diet based on disputes about mad cow disease.

Accepted Answer

A) Japan 
B) Mexico 
C) Canada 
D) United Kingdom 
E) China 
A) Japan 
B) Mexico 
C) Canada 
D) United Kingdom 
E) China

Question 6

All of the following would be considered to be reasons for adopting an attitude of protectionism with respect to world trade EXCEPT:

Accepted Answer

A) to protect religious beliefs. 
B) protection of an infant industry. 
C) protection of a home market. 
D) the need to keep money at home. 
E) to encourage capital accumulation. 
A) to protect religious beliefs. 
B) protection of an infant industry. 
C) protection of a home market. 
D) the need to keep money at home. 
E) to encourage capital accumulation.

Question 7

A specific unit or dollar limit applied to a particular type of good is called a(n):

Accepted Answer

A) tariff. 
B) quota. 
C) standard. 
D) embargo. 
E) boycott. 
A) tariff. 
B) quota. 
C) standard. 
D) embargo. 
E) boycott.

Question 8

When the United States refuses to sell goods to Iran because of the perception that the country harbors radicals and terrorists,the refusal is called a(n):

Accepted Answer

A) boycott. 
B) embargo. 
C) tariff. 
D) orderly market agreement. 
E) blocked currency. 
A) boycott. 
B) embargo. 
C) tariff. 
D) orderly market agreement. 
E) blocked currency.

Question 9

In general,__________ are arbitrary,discriminatory,and require constant administration and supervision.

Accepted Answer

A) tariffs 
B) standards 
C) quotas 
D) boycotts 
E) embargoes 
A) tariffs 
B) standards 
C) quotas 
D) boycotts 
E) embargoes

Question 10

The marketing manager for Healthy Horse Products wants to export to Australia but learns the labeling requirements are quite difficult to comply with limiting imports.This is a type of:

Accepted Answer

A) blockage. 
B) protectionism. 
C) trade refusal. 
D) stonewalling. 
E) boycotting. 
A) blockage. 
B) protectionism. 
C) trade refusal. 
D) stonewalling. 
E) boycotting.

Question 11

If a foreign producer intentionally sells their products in the United States for less than the cost of production with the purpose of undermining competition and taking control of the market,the foreign producer would be guilty of what is called warrior pricing.

Accepted Answer

A) True 
 B)False

Question 12

One of the most popular ways to circumvent WTO guidelines for free trade has been for a country to impose:

Accepted Answer

A) antidumping duties. 
B) tariffs. 
C) quotas. 
D) fees. 
E) licenses. 
A) antidumping duties. 
B) tariffs. 
C) quotas. 
D) fees. 
E) licenses.

Question 13

As Taki Muri readies his company to pursue lucrative markets in the United States.He is apprehensive about running afoul of U.S.antidumping laws.He has always thought that these laws were constructed just to keep competitors out.However,he also believes (as many other foreign competitors believe)that one way around the U.S.antidumping laws deals with a question of interpretation.Which of the following is the best description of the interpretation loophole that Mr.Muri that believes will work to his benefit?

Accepted Answer

A) the definition of what a product is 
B) the definition of what a price is 
C) the interpretation of what "selling below cost" is 
D) the interpretation of what a foreign good is 
E) the exchange rate variations in the value of the dollar 
A) the definition of what a product is 
B) the definition of what a price is 
C) the interpretation of what "selling below cost" is 
D) the interpretation of what a foreign good is 
E) the exchange rate variations in the value of the dollar

Question 14

A nation's balance-of-payments statement records all financial transactions between its residents and those of the rest of the world during a given period of time--usually one year.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following types of nontariff barriers would be considered to be "specific limitations on trade" by international marketers?

Accepted Answer

A) Fees 
B) Export subsidies 
C) Voluntary export restraints 
D) Embargoes 
E) Packaging,labeling,or marking standards 
A) Fees 
B) Export subsidies 
C) Voluntary export restraints 
D) Embargoes 
E) Packaging,labeling,or marking standards

Question 16

International work continues around the world to reduce these trade obstacles to peace and prosperity.

Accepted Answer

A) Satellite and terrestial communication. 
B) Energy and food costs. 
C) Medical and drug prices. 
D) National debt and high exchange rates. 
E) Tariff and nontariff trade barriers. 
A) Satellite and terrestial communication. 
B) Energy and food costs. 
C) Medical and drug prices. 
D) National debt and high exchange rates. 
E) Tariff and nontariff trade barriers.

Question 17

Unlike GATT,the WTO issues ______________ decisions.

Accepted Answer

A) illegal 
B) counseling 
C) no 
D) binding 
E) intelligent 
A) illegal 
B) counseling 
C) no 
D) binding 
E) intelligent

Question 18

Following the great economic boom of the late 1990s British corporations were no longer among the world's largest corporations.

Accepted Answer

A) True 
 B)False

Question 19

If Germany agrees voluntarily to limit the number of automobiles exported to the United States,this would be an example of a quota.

Accepted Answer

A) True 
 B)False

Question 20

In 2007 this country ranked second behind the United States in number of world's largest corporations.

Accepted Answer

A) Netherlands 
B) Japan 
C) France 
D) Germany 
E) South Korea 
A) Netherlands 
B) Japan 
C) France 
D) Germany 
E) South Korea

Exporting countries sometimes agree to voluntary export restraints (VER)as an alternative to the threat of:

The WTO (World Trade Organization)is an institution,not an agreement as was GATT.

The International Monetary Fund (IMF)was created to serve as a watchdog over most international financial transactions between nations.

Section 301 of the Omnibus Trade and Competitiveness Act authorizes the U.S.government to ___ and _ against specific foreign trade barriers judged to be unfair.

American beef continues to be excluded in this country's diet based on disputes about mad cow disease.

All of the following would be considered to be reasons for adopting an attitude of protectionism with respect to world trade EXCEPT:

A specific unit or dollar limit applied to a particular type of good is called a(n):

When the United States refuses to sell goods to Iran because of the perception that the country harbors radicals and terrorists,the refusal is called a(n):

In general,__________ are arbitrary,discriminatory,and require constant administration and supervision.

The marketing manager for Healthy Horse Products wants to export to Australia but learns the labeling requirements are quite difficult to comply with limiting imports.This is a type of:

If a foreign producer intentionally sells their products in the United States for less than the cost of production with the purpose of undermining competition and taking control of the market,the foreign producer would be guilty of what is called warrior pricing.

One of the most popular ways to circumvent WTO guidelines for free trade has been for a country to impose:

A nation's balance-of-payments statement records all financial transactions between its residents and those of the rest of the world during a given period of time--usually one year.

Which of the following types of nontariff barriers would be considered to be "specific limitations on trade" by international marketers?

International work continues around the world to reduce these trade obstacles to peace and prosperity.

Unlike GATT,the WTO issues ______________ decisions.

Following the great economic boom of the late 1990s British corporations were no longer among the world's largest corporations.

If Germany agrees voluntarily to limit the number of automobiles exported to the United States,this would be an example of a quota.

In 2007 this country ranked second behind the United States in number of world's largest corporations.

The Scope and Challenge of International Marketing

History and Geography: The Foundations of Culture

Cultural Dynamics in Assessing Global Markets

Culture, Management Style, and Business Systems

The Political Environment: A Critical Concern

The International Legal Environment: Playing by the Rules

Developing a Global Vision Through Marketing Research

Emerging Markets

Multinational Market Regions and Market Groups

Global Marketing Management: Planning and Organization

Products and Services for Consumers

Products and Services for Businesses

International Marketing Channels

Exporting and Logistics: Special Issues for Business

Integrated Marketing Communications and International Advertising

Personal Selling and Sales Management

Pricing for International Markets

Negotiating With International Customers, Partners, and Regulators

Filters

Exam 2: The Dynamic Environment of International Trade

Exporting countries sometimes agree to voluntary export restraints (VER)as an alternative to the threat of:

The WTO (World Trade Organization)is an institution,not an agreement as was GATT.

The International Monetary Fund (IMF)was created to serve as a watchdog over most international financial transactions between nations.

Section 301 of the Omnibus Trade and Competitiveness Act authorizes the U.S.government to _____________ and ___________ against specific foreign trade barriers judged to be unfair.

American beef continues to be excluded in this country's diet based on disputes about mad cow disease.

All of the following would be considered to be reasons for adopting an attitude of protectionism with respect to world trade EXCEPT:

A specific unit or dollar limit applied to a particular type of good is called a(n):

When the United States refuses to sell goods to Iran because of the perception that the country harbors radicals and terrorists,the refusal is called a(n):

In general,__________ are arbitrary,discriminatory,and require constant administration and supervision.

The marketing manager for Healthy Horse Products wants to export to Australia but learns the labeling requirements are quite difficult to comply with limiting imports.This is a type of:

If a foreign producer intentionally sells their products in the United States for less than the cost of production with the purpose of undermining competition and taking control of the market,the foreign producer would be guilty of what is called warrior pricing.

One of the most popular ways to circumvent WTO guidelines for free trade has been for a country to impose:

A nation's balance-of-payments statement records all financial transactions between its residents and those of the rest of the world during a given period of time--usually one year.

Which of the following types of nontariff barriers would be considered to be "specific limitations on trade" by international marketers?

International work continues around the world to reduce these trade obstacles to peace and prosperity.

Unlike GATT,the WTO issues ______________ decisions.

Following the great economic boom of the late 1990s British corporations were no longer among the world's largest corporations.

If Germany agrees voluntarily to limit the number of automobiles exported to the United States,this would be an example of a quota.

In 2007 this country ranked second behind the United States in number of world's largest corporations.

The Scope and Challenge of International Marketing

History and Geography: The Foundations of Culture

Cultural Dynamics in Assessing Global Markets

Culture, Management Style, and Business Systems

The Political Environment: A Critical Concern

The International Legal Environment: Playing by the Rules

Developing a Global Vision Through Marketing Research

Emerging Markets

Multinational Market Regions and Market Groups

Global Marketing Management: Planning and Organization

Products and Services for Consumers

Products and Services for Businesses

International Marketing Channels

Exporting and Logistics: Special Issues for Business

Integrated Marketing Communications and International Advertising

Personal Selling and Sales Management

Pricing for International Markets

Negotiating With International Customers, Partners, and Regulators

Filters

Section 301 of the Omnibus Trade and Competitiveness Act authorizes the U.S.government to ___ and _ against specific foreign trade barriers judged to be unfair.