Question 1

Which of the following statements is incorrect?

Accepted Answer

A) China represents a big threat to Australian companies as Australian companies are not competitive enough to expand into China. 
B) New Zealand's free trade agreement with China was established in 2008. 
C) Both Australia and New Zealand have seen a remarkable change in the direction of trade over the last half century. 
D) The White Paper addresses the rise of Asia and Australia's response to it. 
A) China represents a big threat to Australian companies as Australian companies are not competitive enough to expand into China. 
B) New Zealand's free trade agreement with China was established in 2008. 
C) Both Australia and New Zealand have seen a remarkable change in the direction of trade over the last half century. 
D) The White Paper addresses the rise of Asia and Australia's response to it. A

Question 2

It is quite unclear whether stringent economic rules and performance measures are equally applicable to all countries seeking IMF assistance.

Accepted Answer

A) True 
 B)False  True

Question 3

Non-tariff barriers:

Accepted Answer

A) are more difficult to detect, prove and quantify than tariff barriers. 
B) are less difficult to detect, prove and quantify than tariff barriers. 
C) include preferential treatment for domestic bidders and government 'buy domestic' campaigns. 
D) are more difficult to detect, prove and quantify than tariff barriers and include preferential treatment for domestic bidders and government 'buy domestic' campaigns. 
A) are more difficult to detect, prove and quantify than tariff barriers. 
B) are less difficult to detect, prove and quantify than tariff barriers. 
C) include preferential treatment for domestic bidders and government 'buy domestic' campaigns. 
D) are more difficult to detect, prove and quantify than tariff barriers and include preferential treatment for domestic bidders and government 'buy domestic' campaigns. D

Question 4

Explain three types of trade barriers.

Accepted Answer

Students can choose three out of the opt

Question 5

The balance of trade may be too far in the red - for instance, ________ - or there may be an embarrassingly high surplus, such as __________.

Accepted Answer

A) USA; China 
B) Australia; USA 
C) Australia; New Zealand 
D) Indonesia; China 
A) USA; China 
B) Australia; USA 
C) Australia; New Zealand 
D) Indonesia; China

Question 6

Trade deficits:

Accepted Answer

A) indicate that a country, in its international activities, is producing more than it is consuming. 
B) can be reduced by decreasing exports. 
C) can be reduced by increasing exports. 
D) can be reduced by increasing imports. 
A) indicate that a country, in its international activities, is producing more than it is consuming. 
B) can be reduced by decreasing exports. 
C) can be reduced by increasing exports. 
D) can be reduced by increasing imports.

Question 7

Economic blocs integrate the economic and political activities of nations.

Accepted Answer

A) True 
 B)False

Question 8

How many countries are members of the World Trade Organisation?

Accepted Answer

A) 53 countries 
B) 98 countries 
C) 159 countries 
D) 201 countries 
A) 53 countries 
B) 98 countries 
C) 159 countries 
D) 201 countries

Question 9

Which of the following has the highest trade per capita in the world?

Accepted Answer

A) China 
B) Hong Kong 
C) USA 
D) Japan 
A) China 
B) Hong Kong 
C) USA 
D) Japan

Question 10

Exporting activities allow a firm to achieve economies of scale but actually make the firm less efficient in marketing terms.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is not a reason why many countries provide export promotion assistance to their firms?

Accepted Answer

A) The national need to earn foreign currency 
B) To encourage domestic employment 
C) To increase domestic economic activity 
D) The national need to import 
A) The national need to earn foreign currency 
B) To encourage domestic employment 
C) To increase domestic economic activity 
D) The national need to import

Question 12

Extreme economic poverty is defined as living on less than US$1.50 per day.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is not in the list of Australia's FTAs?

Accepted Answer

A) Thailand-Australia FTA 
B) Australia-Chile FTA 
C) Australia-Brazil FTA 
D) Singapore-Australia FTA 
A) Thailand-Australia FTA 
B) Australia-Chile FTA 
C) Australia-Brazil FTA 
D) Singapore-Australia FTA

Question 14

The term 'born global' means that a firm has had an international commitment since its inception.

Accepted Answer

A) True 
 B)False

Question 15

The World Bank has had its effectiveness questioned because:

Accepted Answer

A) of a lack of global interest, inadequacy of information and ignorance of where and how to market internationally. 
B) it has not provided stability for the international monetary framework. 
C) it has not played an important role in the stability of exchange rates. 
D) All of these choices 
A) of a lack of global interest, inadequacy of information and ignorance of where and how to market internationally. 
B) it has not provided stability for the international monetary framework. 
C) it has not played an important role in the stability of exchange rates. 
D) All of these choices

Question 16

A Free Trade Agreement between the US and New Zealand is unlikely to happen.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following WTO is not responsible for?

Accepted Answer

A) The General Agreement on Trade in Services (GATS) 
B) Agreements on trade-related aspects of intellectual property rights (TRIPS)and trade-related investment measures (TRIMS) 
C) The administration of a broad variety of international trade and investment accords 
D) Helping impoverished and developing nations 
A) The General Agreement on Trade in Services (GATS) 
B) Agreements on trade-related aspects of intellectual property rights (TRIPS)and trade-related investment measures (TRIMS) 
C) The administration of a broad variety of international trade and investment accords 
D) Helping impoverished and developing nations

Question 18

Bilateral negotiations are:

Accepted Answer

A) always broad, covering a wide variety of products, services or investments. 
B) between one exporting firm and a host nation. 
C) carried out mainly between two nations. 
D) useful for vertical movement on the international vertical supply chain. 
A) always broad, covering a wide variety of products, services or investments. 
B) between one exporting firm and a host nation. 
C) carried out mainly between two nations. 
D) useful for vertical movement on the international vertical supply chain.

Question 19

The World Bank's official name is the International Bank for Reconstruction and Development.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements is true?

Accepted Answer

A) Policy makers can't sacrifice short-term achievements for long-term goals. 
B) Thoughtful economic coordination will be required among the leading trading nations.Such coordination will result in the increase of national sovereignty. 
C) Policy makers must be willing to trade off short-term achievements for long-term goals. 
D) The beneficiaries of trade and investment restraints are usually not clearly defined and have much to gain, whereas the losers are much more visible. 
A) Policy makers can't sacrifice short-term achievements for long-term goals. 
B) Thoughtful economic coordination will be required among the leading trading nations.Such coordination will result in the increase of national sovereignty. 
C) Policy makers must be willing to trade off short-term achievements for long-term goals. 
D) The beneficiaries of trade and investment restraints are usually not clearly defined and have much to gain, whereas the losers are much more visible.

Which of the following statements is incorrect?

It is quite unclear whether stringent economic rules and performance measures are equally applicable to all countries seeking IMF assistance.

Non-tariff barriers:

Explain three types of trade barriers.

The balance of trade may be too far in the red - for instance, - or there may be an embarrassingly high surplus, such as __.

Trade deficits:

Economic blocs integrate the economic and political activities of nations.

How many countries are members of the World Trade Organisation?

Which of the following has the highest trade per capita in the world?

Exporting activities allow a firm to achieve economies of scale but actually make the firm less efficient in marketing terms.

Which of the following is not a reason why many countries provide export promotion assistance to their firms?

Extreme economic poverty is defined as living on less than US$1.50 per day.

Which of the following is not in the list of Australia's FTAs?

The term 'born global' means that a firm has had an international commitment since its inception.

The World Bank has had its effectiveness questioned because:

A Free Trade Agreement between the US and New Zealand is unlikely to happen.

Which of the following WTO is not responsible for?

Bilateral negotiations are:

The World Bank's official name is the International Bank for Reconstruction and Development.

Which of the following statements is true?

Introduction to international marketing

The economic environment

The political and legal environment

The cultural environment

Building the knowledge base

Foreign market entry

Channels of distribution and logistics

Product policy and adaptation in international markets

Product and brand management in international markets

Services marketing

Pricing in international markets

International marketing communications

Social Networking and Communications

Filters

Exam 3: Trade institutions and trade policy

Which of the following statements is incorrect?

It is quite unclear whether stringent economic rules and performance measures are equally applicable to all countries seeking IMF assistance.

Non-tariff barriers:

Explain three types of trade barriers.

The balance of trade may be too far in the red - for instance, ________ - or there may be an embarrassingly high surplus, such as __________.

Trade deficits:

Economic blocs integrate the economic and political activities of nations.

How many countries are members of the World Trade Organisation?

Which of the following has the highest trade per capita in the world?

Exporting activities allow a firm to achieve economies of scale but actually make the firm less efficient in marketing terms.

Which of the following is not a reason why many countries provide export promotion assistance to their firms?

Extreme economic poverty is defined as living on less than US$1.50 per day.

Which of the following is not in the list of Australia's FTAs?

The term 'born global' means that a firm has had an international commitment since its inception.

The World Bank has had its effectiveness questioned because:

A Free Trade Agreement between the US and New Zealand is unlikely to happen.

Which of the following WTO is not responsible for?

Bilateral negotiations are:

The World Bank's official name is the International Bank for Reconstruction and Development.

Which of the following statements is true?

Introduction to international marketing

The economic environment

The political and legal environment

The cultural environment

Building the knowledge base

Foreign market entry

Channels of distribution and logistics

Product policy and adaptation in international markets

Product and brand management in international markets

Services marketing

Pricing in international markets

International marketing communications

Social Networking and Communications

Filters

The balance of trade may be too far in the red - for instance, - or there may be an embarrassingly high surplus, such as __.