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Exam 3: Global Business

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Question 81

Multiple Choice

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​Panama is considering instituting trade restrictions in order to balance its payments,protect new businesses,and protect domestic jobs.What may be some of the reasons it would not want to institute trade restrictions?

A) ​Higher prices for consumers,restrictions of consumers' choices,misallocation of international resources,and loss of jobs.
B) ​Lower prices for consumers,more consumer choices,proper allocation of international resources,and increase in employment.
C) ​Sluggish market improvements,high retail prices,and lack of international resources.
D) ​Loss of jobs,lack of national innovation,and high interest rates.

E) B) and C)
F) A) and B)

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Question 82

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Political considerations usually are involved in a country's decision to impose a trade embargo.

A) True
B) False

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Question 83

Multiple Choice

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The best method of learning from experience in international business is to

A letter of credit is issued in favor of the importer.

The United States does not sell fighter jets,such as F-16s,to Libya.The rationale for this restriction is most likely to

In 1967,several Asian countries banded together to reduce the trade barriers between them and encourage trading among themselves.This is known as

MillerCoors allows a Canadian firm to use its name,formula,and brands in return for a royalty.This is known as

The United States has enjoyed a trade surplus during the last two decades.

Meredith hires an export merchant to help expand her business internationally.After signing contracts with a foreign purchaser outlining the terms of sale and delivery,the exporter will send Meredith's merchandise when

A ____ is a partnership formed to achieve a specific goal or to operate for a specific period of time.

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.What type of tax has the Italian government imposed on the company?

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

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

The World Trade Organization was created by the

Quotas may be set on worldwide imports or on imports from a specific country.

Countries experiencing balance-of-payments deficits can obtain short-term loans from the

Suppose China is trying to develop its international trade in electronic components,but it lacks the money to be successful.From whom should China seek assistance?

Which bank was established in 1991 to encourage reconstruction and development in the Eastern and central European countries?

When the U.S.government will not allow meat from another country to be marketed in the United States,it is imposing a(n)

What is an embargo? When might it be used?