Question 1

The classic predicament of poorer developing countries is:

Accepted Answer

A) high-tech, high-value-added products being imported. 
B) high-tech, high-value-added products being exported. 
C) exports begin mainly, or even exclusively, composed of processed raw materials. 
D) exports begin mainly, or even exclusively, composed of unprocessed raw materials, with the high-tech, high-value-added products being imported. 
A) high-tech, high-value-added products being imported. 
B) high-tech, high-value-added products being exported. 
C) exports begin mainly, or even exclusively, composed of processed raw materials. 
D) exports begin mainly, or even exclusively, composed of unprocessed raw materials, with the high-tech, high-value-added products being imported.

Question 2

Which of the following is not a reason why exports are important in a macroeconomic sense?

Accepted Answer

A) They bring in technology and skills. 
B) They can affect currency values and the fiscal and monetary policies of governments. 
C) They shape public perception of competitiveness. 
D) They determine the level of imports a country can afford. 
A) They bring in technology and skills. 
B) They can affect currency values and the fiscal and monetary policies of governments. 
C) They shape public perception of competitiveness. 
D) They determine the level of imports a country can afford.

Question 3

Australia refuses to negotiate a free trade agreement with China.

Accepted Answer

A) True 
 B)False

Question 4

Export promotion assistance to firms is:

Accepted Answer

A) offered because of the need to earn foreign currency. 
B) a distortion of profitability. 
C) justifiable if it decreases market transparency. 
D) All of these choices 
A) offered because of the need to earn foreign currency. 
B) a distortion of profitability. 
C) justifiable if it decreases market transparency. 
D) All of these choices

Question 5

Which of the following is not a market agreement?

Accepted Answer

A) Group of Eight 
B) The Mercosur in Latin America 
C) The Gulf Cooperation Council (GC
C)  
D) North American Free Trade Agreement (NAFT
A)  
A) Group of Eight 
B) The Mercosur in Latin America 
C) The Gulf Cooperation Council (GC
C)  
D) North American Free Trade Agreement (NAFT
A)

Question 6

Protectionism is not the answer to enhancing world trade because:

Accepted Answer

A) it will force world trade to expand unsustainably. 
B) it cannot increase productivity and competitiveness in the long run. 
C) the increase in living standards is not sustainable in the long term. 
D) None of the above 
A) it will force world trade to expand unsustainably. 
B) it cannot increase productivity and competitiveness in the long run. 
C) the increase in living standards is not sustainable in the long term. 
D) None of the above

Question 7

The World Trade Organization has its origins in:

Accepted Answer

A) the COMECON agreement. 
B) the GATT agreement. 
C) the SAARC agreement. 
D) the Maastricht Treaty. 
A) the COMECON agreement. 
B) the GATT agreement. 
C) the SAARC agreement. 
D) the Maastricht Treaty.

Question 8

Which of the following statements is incorrect?

Accepted Answer

A) Australia and New Zealand are both trade-oriented, liberalised economies. 
B) The USA is currently the world's largest market, so American perspectives on trade policy are of great concern and important for international marketers. 
C) closer government-business collaboration is not seen as one key to enhanced competitiveness of the American economy and corporations. 
D) All the alternatives are correct. 
A) Australia and New Zealand are both trade-oriented, liberalised economies. 
B) The USA is currently the world's largest market, so American perspectives on trade policy are of great concern and important for international marketers. 
C) closer government-business collaboration is not seen as one key to enhanced competitiveness of the American economy and corporations. 
D) All the alternatives are correct.

Question 9

Which of the following is not a type of trade barrier?

Accepted Answer

A) Standards, testing, labelling and certification 
B) Lack of intellectual property protection 
C) Investment barriers 
D) Government subsidies 
A) Standards, testing, labelling and certification 
B) Lack of intellectual property protection 
C) Investment barriers 
D) Government subsidies

Question 10

Methods of restricting trade include:

Accepted Answer

A) bon-tariff barriers. 
B) voluntary restraints. 
C) political will. 
D) bon-tariff barriers and voluntary restraints. 
A) bon-tariff barriers. 
B) voluntary restraints. 
C) political will. 
D) bon-tariff barriers and voluntary restraints.

Question 11

The more successful the WTO is, the more it may infringe on the sovereignty of nations.

Accepted Answer

A) True 
 B)False

Question 12

The USA can run a very large trade deficit because:

Accepted Answer

A) of its political stability. 
B) of its perceived economic security. 
C) it is a preferred borrower. 
D) of its political stability and its perceived economic security. 
A) of its political stability. 
B) of its perceived economic security. 
C) it is a preferred borrower. 
D) of its political stability and its perceived economic security.

Question 13

Australia and New Zealand have experienced a significant increase in their share of world trade since 1948.

Accepted Answer

A) True 
 B)False

Question 14

The United States has used 'voluntary' import restraints that are applied selectively against New Zealand.

Accepted Answer

A) True 
 B)False

Question 15

In light of persistent ____________, growing ____________ and the tendency by some firms and industries to seek legislative redress for failures in the marketplace, the US Congress in the past two decades has increasingly been willing to provide the president with more powers to_________ trade.

Accepted Answer

A) trade deficits; FDI; restrict 
B) trade surplus; foreign direct investment; encourage 
C) trade deficits; FDI; restrict. 
D) trade surplus; foreign direct investment; encourage. 
A) trade deficits; FDI; restrict 
B) trade surplus; foreign direct investment; encourage 
C) trade deficits; FDI; restrict. 
D) trade surplus; foreign direct investment; encourage.

Question 16

_________ are special because they can affect currency values and the fiscal and monetary policies of governments, shape _______ perception of competitiveness and determine the level of _______ a country can afford.

Accepted Answer

A) Imports; public; exports 
B) Exports; organisational; imports 
C) Exports; public; imports 
D) Exports; brand; imports 
A) Imports; public; exports 
B) Exports; organisational; imports 
C) Exports; public; imports 
D) Exports; brand; imports

Question 17

The original goal of the IMF was to provide for fixed exchange rates between countries.

Accepted Answer

A) True 
 B)False

Question 18

Examples of trade barriers include:

Accepted Answer

A) import and export policies. 
B) government procurement. 
C) investment barriers and competitive practices. 
D) intellectual property protection. 
A) import and export policies. 
B) government procurement. 
C) investment barriers and competitive practices. 
D) intellectual property protection.

The classic predicament of poorer developing countries is:

Which of the following is not a reason why exports are important in a macroeconomic sense?

Australia refuses to negotiate a free trade agreement with China.

Export promotion assistance to firms is:

Which of the following is not a market agreement?

Protectionism is not the answer to enhancing world trade because:

The World Trade Organization has its origins in:

Which of the following statements is incorrect?

Which of the following is not a type of trade barrier?

Methods of restricting trade include:

The more successful the WTO is, the more it may infringe on the sovereignty of nations.

The USA can run a very large trade deficit because:

Australia and New Zealand have experienced a significant increase in their share of world trade since 1948.

The United States has used 'voluntary' import restraints that are applied selectively against New Zealand.

In light of persistent ____, growing and the tendency by some firms and industries to seek legislative redress for failures in the marketplace, the US Congress in the past two decades has increasingly been willing to provide the president with more powers to_ trade.

_____ are special because they can affect currency values and the fiscal and monetary policies of governments, shape _ perception of competitiveness and determine the level of _____ a country can afford.

The original goal of the IMF was to provide for fixed exchange rates between countries.

Examples of trade barriers include:

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

The classic predicament of poorer developing countries is:

Which of the following is not a reason why exports are important in a macroeconomic sense?

Australia refuses to negotiate a free trade agreement with China.

Export promotion assistance to firms is:

Which of the following is not a market agreement?

Protectionism is not the answer to enhancing world trade because:

The World Trade Organization has its origins in:

Which of the following statements is incorrect?

Which of the following is not a type of trade barrier?

Methods of restricting trade include:

The more successful the WTO is, the more it may infringe on the sovereignty of nations.

The USA can run a very large trade deficit because:

Australia and New Zealand have experienced a significant increase in their share of world trade since 1948.

The United States has used 'voluntary' import restraints that are applied selectively against New Zealand.

In light of persistent ____________, growing ____________ and the tendency by some firms and industries to seek legislative redress for failures in the marketplace, the US Congress in the past two decades has increasingly been willing to provide the president with more powers to_________ trade.

_________ are special because they can affect currency values and the fiscal and monetary policies of governments, shape _______ perception of competitiveness and determine the level of _______ a country can afford.

The original goal of the IMF was to provide for fixed exchange rates between countries.

Examples of trade barriers include:

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

In light of persistent ____, growing and the tendency by some firms and industries to seek legislative redress for failures in the marketplace, the US Congress in the past two decades has increasingly been willing to provide the president with more powers to_ trade.

_____ are special because they can affect currency values and the fiscal and monetary policies of governments, shape _ perception of competitiveness and determine the level of _____ a country can afford.