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Exam 3: Global Business

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Question 41

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What does the International Monetary Fund (IMF)do for nations with an unfavorable balance of trade?

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The International Monetary Fund (IMF)is ...

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Question 42

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A ____ is issued by the exporter's bank,ordering the importer's bank to pay for the merchandise.

A) license
B) letter of credit
C) bill of lading
D) draft
E) voucher

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

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Question 43

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The International Monetary Fund (IMF)makes short-term loans to developing countries experiencing balance-of-payment deficits.

The World Bank is an example of a(n) ____,supported by industrialized nations,including the United States.

Which of the following federal governmental agencies provides domestic and overseas commercial officers,country experts,and industry experts?

U.S.trade restrictions benefit only a few industries while harming many others.

Balance of payments is a ____ concept than balance of trade.

Devaluation decreases the cost of foreign goods and increases the cost of domestic goods to foreign firms.

An international bank that makes short-term loans to countries experiencing balance of payment deficits is called a multilateral development bank.

CAFTA,NAFTA,OECD,and OPEC are all examples of

Thomas Bernerd,Inc.Thomas Bernerd,Inc.,manufactures and sells reclining furniture.The company currently operates in the United States but wishes to expand overseas.The company managers have been contemplating the best way to enter the foreign market.At first,the management felt it would be in the company's best interest to let a foreign company use its product and brand in exchange for a royalty.The managers recognized,however,that before the company decided on its foreign strategy it needed to think through all the steps required to enter an international market.As such,the managers believed they needed to consult with some type of agency to help their firm compete more effectively in the global marketplace.After all the research was completed,the senior managers realized that they wanted to export their product.The managers decided that the transport carrier would notify them when the merchandise was shipped.This would avoid any confusion about lost shipments and ensure better communication with the receiving parties. -Refer to Thomas Bernerd,Inc.Which of the following alternatives could have worked as a link between the managers at Thomas Bernerd,Inc.and the buyer from a different country?

Another name for an import duty is a(n)

Suppose the country of Peru wanted to join GATT and thus be treated the same as other GATT members.What GATT principle is Peru interested in receiving?

A favorable balance of payments means that

Purchasing raw materials or products in other nations and bringing them into one's own country is known as importing.

How has international trade changed since the end of World War II?

Which of the following is false concerning the International Monetary Fund?

When a coffee chain in Portland,Oregon purchases coffee from Colombia,South America,it

Due to worldwide trade restrictions,international business is declining in volume.

Trade restrictions limit choices for consumers but have no effect on the prices charged for the products.