Question 1

The main operating principle of the General Agreements of Tariffs and Trade (GATT) was the concept of normal trade relations (NTR) status, formerly known as:

Accepted Answer

A) Early Favored Nation status. 
B) Most Favored Nation status. 
C) Late Favored Nation status. 
D) World Trade status. 
E) Best Nation status. 
A) Early Favored Nation status. 
B) Most Favored Nation status. 
C) Late Favored Nation status. 
D) World Trade status. 
E) Best Nation status.

Question 2

Trading in foreign currencies has an effect on world trade.For example, a rise in the value of the local currency due to daily flows vis-à-vis other currencies makes exports _________.

Accepted Answer

A) less expensive 
B) more expensive 
C) come under government control 
D) parallel with imports 
E) be banned 
A) less expensive 
B) more expensive 
C) come under government control 
D) parallel with imports 
E) be banned

Question 3

A nation that is a _________ displays a natural inclination to be competitive in the world market.

Accepted Answer

A) larger importer 
B) large exporter 
C) very populous nation 
D) very large nation 
E) successful trader 
A) larger importer 
B) large exporter 
C) very populous nation 
D) very large nation 
E) successful trader

Question 4

The agenda for the Doha Round of WTO meeting an accord on Trade Related Aspects of Intellectual Property Rights (TRIPS) ensuring that patent protection does not block developing countries' access to what?

Accepted Answer

A) The Internet 
B) Affordable medicines 
C) Lower tariffs for their exports 
D) Foreign aid from the WTO and the U.S. 
E) Green energy 
A) The Internet 
B) Affordable medicines 
C) Lower tariffs for their exports 
D) Foreign aid from the WTO and the U.S. 
E) Green energy

Question 5

The global economy continues to become more intertwined.

Accepted Answer

A) True 
 B)False

Question 6

The Maastricht Treaty succeeded the:

Accepted Answer

A) Treaty of Brussels. 
B) Treaty of Rome. 
C) Treaty of Geneva. 
D) Treaty of Paris. 
E) Treaty of Vienna. 
A) Treaty of Brussels. 
B) Treaty of Rome. 
C) Treaty of Geneva. 
D) Treaty of Paris. 
E) Treaty of Vienna.

Question 7

In general, the larger the country's domestic economy, the less dependent it tends to be on exports and imports relative to its ________________.

Accepted Answer

A) gross domestic product 
B) gross domestic income 
C) gross domestic spending 
D) gross domestic capital 
E) global domestic knowledge 
A) gross domestic product 
B) gross domestic income 
C) gross domestic spending 
D) gross domestic capital 
E) global domestic knowledge

Question 8

Which nation is the world's second largest exporter?

Accepted Answer

A) United States 
B) China 
C) Netherlands 
D) Germany 
E) Japan 
A) United States 
B) China 
C) Netherlands 
D) Germany 
E) Japan

Question 9

UNCITRAL is the core legal body within the United Nations system in the field of what?

Accepted Answer

A) International trade law 
B) International patent law 
C) International copyright law 
D) International export/import law 
E) International transportation/shipping law 
A) International trade law 
B) International patent law 
C) International copyright law 
D) International export/import law 
E) International transportation/shipping law

Question 10

GATT's successor is the World Trade Organization (WTO).

Accepted Answer

A) True 
 B)False

Question 11

With which country did the U.S.have a trade deficit over $376 billion in 2017?

Accepted Answer

A) United States 
B) China 
C) Netherlands 
D) Germany 
E) Japan 
A) United States 
B) China 
C) Netherlands 
D) Germany 
E) Japan

Question 12

NAFTA is the free trade area among Canada, the United States, and Chile.

Accepted Answer

A) True 
 B)False

Question 13

Four of the top five exporting countries in 2017 were Asian.

Accepted Answer

A) True 
 B)False

Question 14

The World Trade Organization (WTO) took effect on _________,

Accepted Answer

A) January 1, 1994 
B) January 1, 1995 
C) January 1, 1996 
D) January 1, 2011 
E) January 1, 2017 
A) January 1, 1994 
B) January 1, 1995 
C) January 1, 1996 
D) January 1, 2011 
E) January 1, 2017

Question 15

The U.S.government defines the multinational company for statistical purposes as a company that owns or controls ______________ or more of the voting securities, or the equivalent, of at least one foreign business enterprise.

Accepted Answer

A) five percent 
B) ten percent 
C) fifteen percent 
D) twenty percent 
E) twenty-five percent 
A) five percent 
B) ten percent 
C) fifteen percent 
D) twenty percent 
E) twenty-five percent

Question 16

A free trade area (FTA) is a formal agreement among two or more countries to reduce or eliminate customs duties and nontariff trade barriers among partner countries.

Accepted Answer

A) True 
 B)False

Question 17

The primary difference between a common market and a customs union is that the common market:

Accepted Answer

A) adopts a common set of external tariffs on nonmembers. 
B) eliminates all tariffs. 
C) eliminates all trade barriers. 
D) removes all restrictions on the flow of capital and labor among member nations. 
E) the number of countries involved. 
A) adopts a common set of external tariffs on nonmembers. 
B) eliminates all tariffs. 
C) eliminates all trade barriers. 
D) removes all restrictions on the flow of capital and labor among member nations. 
E) the number of countries involved.

Question 18

Foreign Direct Investment (FDI) means any large investment in a foreign country by a multinational firm.

Accepted Answer

A) True 
 B)False

Question 19

The ________________ volume of international trade in currencies exceeds the annual value of the trade in goods and services.

Accepted Answer

A) daily 
B) weekly 
C) monthly 
D) annual 
E) None of the above 
A) daily 
B) weekly 
C) monthly 
D) annual 
E) None of the above

Question 20

Country competitiveness refers to how low wage rates are in a country relative to average global wage rates.

Accepted Answer

A) True 
 B)False

The main operating principle of the General Agreements of Tariffs and Trade (GATT) was the concept of normal trade relations (NTR) status, formerly known as:

Trading in foreign currencies has an effect on world trade.For example, a rise in the value of the local currency due to daily flows vis-à-vis other currencies makes exports _________.

A nation that is a _________ displays a natural inclination to be competitive in the world market.

The agenda for the Doha Round of WTO meeting an accord on Trade Related Aspects of Intellectual Property Rights (TRIPS) ensuring that patent protection does not block developing countries' access to what?

The global economy continues to become more intertwined.

The Maastricht Treaty succeeded the:

In general, the larger the country's domestic economy, the less dependent it tends to be on exports and imports relative to its ________________.

Which nation is the world's second largest exporter?

UNCITRAL is the core legal body within the United Nations system in the field of what?

GATT's successor is the World Trade Organization (WTO).

With which country did the U.S.have a trade deficit over $376 billion in 2017?

NAFTA is the free trade area among Canada, the United States, and Chile.

Four of the top five exporting countries in 2017 were Asian.

The World Trade Organization (WTO) took effect on _________,

The U.S.government defines the multinational company for statistical purposes as a company that owns or controls ______________ or more of the voting securities, or the equivalent, of at least one foreign business enterprise.

A free trade area (FTA) is a formal agreement among two or more countries to reduce or eliminate customs duties and nontariff trade barriers among partner countries.

The primary difference between a common market and a customs union is that the common market:

Foreign Direct Investment (FDI) means any large investment in a foreign country by a multinational firm.

The ________________ volume of international trade in currencies exceeds the annual value of the trade in goods and services.

Country competitiveness refers to how low wage rates are in a country relative to average global wage rates.

Globalization Imperative

Financial Environment

Global Cultural Environment and Buying Behavior

Political and Legal Environment

Global Marketing Research

Global Segmentation and Positioning

Global Marketing Strategies

Global Market Entry Strategies

Global Product Policy Decisions I: Developing New Products for Global Markets

Global Product Policy Decisions Ii: Marketing Products and Services

Global Pricing

Global Communication Strategies

Sales Management

Global Logistics and Distribution

Export and Import Management

Planning, Organization, and Control of Global Marketing Operations

Marketing Strategies for Emerging Markets

Global Marketing and the Internet

Sustainable Marketing in the Global Marketplace

Filters

Exam 2: Economic Environment

The main operating principle of the General Agreements of Tariffs and Trade (GATT) was the concept of normal trade relations (NTR) status, formerly known as:

Trading in foreign currencies has an effect on world trade.For example, a rise in the value of the local currency due to daily flows vis-à-vis other currencies makes exports _________.

A nation that is a _________ displays a natural inclination to be competitive in the world market.

The agenda for the Doha Round of WTO meeting an accord on Trade Related Aspects of Intellectual Property Rights (TRIPS) ensuring that patent protection does not block developing countries' access to what?

The global economy continues to become more intertwined.

The Maastricht Treaty succeeded the:

In general, the larger the country's domestic economy, the less dependent it tends to be on exports and imports relative to its ________________.

Which nation is the world's second largest exporter?

UNCITRAL is the core legal body within the United Nations system in the field of what?

GATT's successor is the World Trade Organization (WTO).

With which country did the U.S.have a trade deficit over $376 billion in 2017?

NAFTA is the free trade area among Canada, the United States, and Chile.

Four of the top five exporting countries in 2017 were Asian.

The World Trade Organization (WTO) took effect on _________,

The U.S.government defines the multinational company for statistical purposes as a company that owns or controls ______________ or more of the voting securities, or the equivalent, of at least one foreign business enterprise.

A free trade area (FTA) is a formal agreement among two or more countries to reduce or eliminate customs duties and nontariff trade barriers among partner countries.

The primary difference between a common market and a customs union is that the common market:

Foreign Direct Investment (FDI) means any large investment in a foreign country by a multinational firm.

The ________________ volume of international trade in currencies exceeds the annual value of the trade in goods and services.

Country competitiveness refers to how low wage rates are in a country relative to average global wage rates.

Globalization Imperative

Financial Environment

Global Cultural Environment and Buying Behavior

Political and Legal Environment

Global Marketing Research

Global Segmentation and Positioning

Global Marketing Strategies

Global Market Entry Strategies

Global Product Policy Decisions I: Developing New Products for Global Markets

Global Product Policy Decisions Ii: Marketing Products and Services

Global Pricing

Global Communication Strategies

Sales Management

Global Logistics and Distribution

Export and Import Management

Planning, Organization, and Control of Global Marketing Operations

Marketing Strategies for Emerging Markets

Global Marketing and the Internet

Sustainable Marketing in the Global Marketplace

Filters