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Exam 3: Global Business

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Question 101

Multiple Choice

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A trading company

A) is involved in manufacturing.
B) owns assets related to manufacturing.
C) does not take title to products.
D) provides a link between buyers and sellers in different countries.
E) does not perform activities necessary to move the products.

F) A) and B)
G) A) and C)

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Question 102

Multiple Choice

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Jackie has been reading about international trade and that one nation has the ability to produce a specific product more efficiently than any other nation.She and her friend,Allie,are required to create a PowerPoint presentation for their business class about international trade.Jackie can create animated PowerPoint presentations that clearly and precisely convey the message they need to make,but in a light and entertaining fashion.She is not good at public speaking.Allie is an excellent public speaker and can create equally excellent PowerPoints.Both girls have homework for other classes to do and agree to divide the work-Jackie will create the PowerPoint and Allie will do the verbal and written part of the presentation.What advantage does Allie have over Jackie in making presentations?

A) Cooperative advantage
B) Absolute advantage
C) Comparative advantage
D) Relative advantage

E) All of the above
F) A) and D)

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Question 103

Multiple Choice

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The IDB,ADB,and EBRD are all examples of

A reduction of the value of a nation's currency relative to the currencies of other countries is called a currency devaluation.

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?

The United States wants to limit the amount of dollars that another country can obtain.The best way to accomplish this is to

Mexico is experiencing balance-of-payments deficits and is seeking financial support.Mexico probably should seek assistance from

If a small country wants to buy aircraft from the United States and the United States wants to export its aircraft,the United States may work through ____ in removing preset trade barriers so that the small country can more easily purchase the aircraft.

Mention some of the most frequently cited reasons for restricting trade.

What are nontariff barriers? How do nontariff barriers restrict international trade?

The Export-Import Bank of the United States

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

Landfall Service Landfall 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.Landfall 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 Landfall Service products due to the government wanting a piece of the pie.Landfall Service initially thought that these taxes were unfair because it was being singled out.However,after Landfall 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 Landfall Service.Landfall Service must have contacted which of these organizations to mediate regarding unfair treatment by foreign governments?

At present,the United States has an embargo against North Korea because

____ is a contractual agreement where one firm gives another permission to produce and market its product and brand name in exchange for a fee.

Because it has not been around long enough to establish itself,the Russian automobile industry could be classified as a(n)

Which bank includes main goals of promoting exchange rate stability and assisting in establishing a multilateral system of payments?

A tax that is levied on a foreign product entering a country is called an export tariff.

Absolute advantage is the ability to produce a specific product more efficiently than any other nation.

One of the problems with licensing as a method of achieving international business is that it is a much more difficult procedure to implement than the other methods.