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Exam 3: Exploring Global Business

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Question 81

Multiple Choice

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When it built production lines in the United States, BMW engaged in what type of international expansion?

A) totally owned facilities
B) joint venture
C) strategic alliance
D) indirect investment
E) exporting

F) B) and D)
G) A) and B)

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Question 82

True/False

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Selling and shipping raw materials or products to other nations is known as exporting.

A) True
B) False

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Question 83

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What is the Doha Round? What was the focus of this round of negotiations?

China is selling school supplies in the United States for very low prices, even lower than the prevailing prices in China, and thus making it extremely difficult for American manufacturers to compete.This is referred to as _____.

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 organization that had the power to mediate this situation, the furniture company realized that the taxation it was subjected to was legal and that there was nothing it could do about it. -Refer to Landing Service.What type of tax has the Italian government imposed on the company?

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

What is the euro? How many nations have adopted the new currency?

Because it controls the world's diamond deposits, the DeBeers Consolidated Mines, Ltd., has a(n) _____.

It is appropriate for a country to impose trade restrictions on exports that might endanger its national security.

Which country is the leading export partner of the United States?

Define tariff.What effect does a tariff have on the price of a product in the country imposing the tariff? Why would a tariff be used?

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

The total value of a nation's exports less the total value of its imports is known as the balance of payments.

Describe trading companies.What is an important function of trading companies?

U.S.exports to developing and newly industrialized countries

Describe the major steps in entering international markets.

During a stormy meeting of computer software firms, several company presidents said that without tariff cushions, many of them would go broke.They represent a new industry that needs protection until their firms grow to a size that will allow them to be competitive.Their comments are based on the

Which of the following best defines balance of trade?

What is an economic community? Describe major international economic communities.

What is countertrade? Give examples of companies that are engaged in it.