Exam 2: Trade Institutions and Trade Policy

"Voluntary" import restraints have been used mainly in areas such as textiles, automobiles, and steel and are intended to:

Import authorization, excise duties, discretionary licensing, and trade restricting affecting electronic commerce are examples of trade barriers.

In the recent past, the majority of international and global markets have:

When U.S. firms work together to establish export promotion development, as allowed by the Export Trading Company Act of 1982, the companies are in effect forming a:

Trade negotiations that are conducted between two nations are considered:

In light of persistent trade deficits, growing foreign direct investment, and the tendency of some firms and industries to seek legislative redress for marketing failures, the U.S. Congress in the past two decades has:

The WTO, IMF, and World Bank operate on a global level. Which of the following is an example of a trade alliance that operates under this same concept on a regional basis?

The Smoot-Hawley Act of the 1930s set the stage for the collapse of the world financial system.

The European Union (EU) now represents a formidable market size internally and market power externally and is considered an economic bloc.

Which product category receives the largest emphasis from the U.S. Government with regards to encouraging trade with foreign countries?

Which department of the United States government provides assistance to companies in helping formulate foreign trade and international marketing plans?

When was the World Trade Organization founded?

The United States has been able to export more products than it imports since 1977, causing a trade surplus in this country which has provided jobs for thousands of Americans.

The original goal of the International Monetary Fund (IMF) was to provide for fixed exchange rates between member countries.

Bilateral negotiations are carried out mainly between two nations, while multilateral negotiations are carried out among a number of nations.

If a business entity promotes "Buying U.S.A." (meaning, only buy products that are manufactured in the United States), and employees benefit from these purchases, this campaign would be seen as:

When a firm is founded with global scope in mind from the very beginning, what do marketers call that type of company?

Which currency is most accepted worldwide?

Over the last fifty years, how has U.S. international trade fared in comparison to the rest of the world?

From time to time, global divisions take place. One good example is the ideological split between the East and the West that occurred after 1945 when the Soviet Union encouraged members of the Eastern bloc not to do business with the West.