Question 1

A complete ban on trade (imports and exports) in one or more products with a particular country is called a(n) ________.

Accepted Answer

The answer of A complete ban on trade (imports and...

Question 2

Which of the following is a reason why governments impose import quotas?

Accepted Answer

A)  Maintain an adequate supply of a product in the home market 
B)  Force the companies of other nations to compete against one another 
C)  Restrict the world supply of a product and thereby increase its price 
D)  All of the above 
A)  Maintain an adequate supply of a product in the home market 
B)  Force the companies of other nations to compete against one another 
C)  Restrict the world supply of a product and thereby increase its price 
D)  All of the above

Question 3

Describe the role of special government agencies in promoting exports and imports.

Accepted Answer

The answer of Describe the role of special government agencies...

Question 4

Explain the role of the World Trade Organization in international trade. How is its role different from that of its predecessor?

Accepted Answer

The World Trade Organization (WTO) plays

Question 5

Because of the efforts of supranational organizations such as the World Trade Organization, nations around the world have completely eliminated barriers to trade.

Accepted Answer

A) True 
 B)False

Question 6

Suppose imports entering a nation under a quota limit of 8,500 tons of rice are charged a tariff of 15 percent, but subsequent imports of rice that do not make it under this quota limit are charged a tariff of 68 percent. This is an example of a(n) ________.

Accepted Answer

A)  import subsidy 
B)  arbitrary will of the government 
C)  GATT-enforced regulation 
D)  tariff-quota 
A)  import subsidy 
B)  arbitrary will of the government 
C)  GATT-enforced regulation 
D)  tariff-quota

Question 7

The World Trade Organization usually settles arguments involving subsidies quickly and easily.

Accepted Answer

A) True 
 B)False

Question 8

A tariff levied by the government of a country that a product is passing through on its way to its final destination is called an import tariff.

Accepted Answer

A) True 
 B)False

Question 9

Which of these adds to the cost of an imported product by levying an additional tax upon it?

Accepted Answer

A)  Tariffs 
B)  Quotas 
C)  Local content requirements 
D)  Embargoes 
A)  Tariffs 
B)  Quotas 
C)  Local content requirements 
D)  Embargoes

Question 10

A voluntary export restraint (VER) refers to a quota that a nation imposes on its exports, usually at the request of another nation.

Accepted Answer

A) True 
 B)False

Question 11

Explain why governments impose restrictions on free trade.

Accepted Answer

The answer of Explain why governments impose restrictions on free...

Question 12

The two main reasons countries levy tariffs are to protect domestic producers and to generate revenue.

Accepted Answer

A) True 
 B)False

Question 13

Financial assistance to domestic producers in the form of cash payments, low-interest loans, tax breaks, or product price supports is called a(n) ________.

Accepted Answer

A)  ad valorem tariff 
B)  embargo 
C)  subsidy 
D)  export tariff 
A)  ad valorem tariff 
B)  embargo 
C)  subsidy 
D)  export tariff

Question 14

The term "chaebol" refers to ________.

Accepted Answer

A)  Japanese multinational powerhouses 
B)  South Korean global conglomerates 
C)  Vietnamese free trade policies 
D)  Chinese personal relationships 
A)  Japanese multinational powerhouses 
B)  South Korean global conglomerates 
C)  Vietnamese free trade policies 
D)  Chinese personal relationships

Question 15

A restriction on the amount of a good that can enter or leave a nation during a certain period of time is called a tariff.

Accepted Answer

A) True 
 B)False

Question 16

The most common tariff used today is the ________ tariff.

Accepted Answer

A)  import 
B)  transit 
C)  government 
D)  export 
A)  import 
B)  transit 
C)  government 
D)  export

Question 17

A(n) ________ tariff is levied as a specific fee for each unit of an imported product.

Accepted Answer

A)  specific 
B)  compound 
C)  ad valorem 
D)  specialized 
A)  specific 
B)  compound 
C)  ad valorem 
D)  specialized

Question 18

Tariff-quotas are used extensively in the trade of ________.

Accepted Answer

A)  manufactured goods 
B)  services 
C)  textiles 
D)  agricultural products 
A)  manufactured goods 
B)  services 
C)  textiles 
D)  agricultural products

Question 19

Which of the following is NOT true about maquiladoras?

Accepted Answer

A)  They export goods worth billions of dollars each year. 
B)  They are foreign trade zones along Mexico's northern border. 
C)  They import materials or parts from the United States without duties, perform some processing on them and export them back to the United States. 
D)  They have shown little success because of the immense amount of paperwork involved. 
A)  They export goods worth billions of dollars each year. 
B)  They are foreign trade zones along Mexico's northern border. 
C)  They import materials or parts from the United States without duties, perform some processing on them and export them back to the United States. 
D)  They have shown little success because of the immense amount of paperwork involved.

Question 20

A restriction on the amount of a good that can enter or leave a country during a certain period of time is called a(n) ________.

Accepted Answer

The answer of A restriction on the amount of a...

A complete ban on trade (imports and exports) in one or more products with a particular country is called a(n) ________.

Which of the following is a reason why governments impose import quotas?

Describe the role of special government agencies in promoting exports and imports.

Explain the role of the World Trade Organization in international trade. How is its role different from that of its predecessor?

Because of the efforts of supranational organizations such as the World Trade Organization, nations around the world have completely eliminated barriers to trade.

Suppose imports entering a nation under a quota limit of 8,500 tons of rice are charged a tariff of 15 percent, but subsequent imports of rice that do not make it under this quota limit are charged a tariff of 68 percent. This is an example of a(n) ________.

The World Trade Organization usually settles arguments involving subsidies quickly and easily.

A tariff levied by the government of a country that a product is passing through on its way to its final destination is called an import tariff.

Which of these adds to the cost of an imported product by levying an additional tax upon it?

A voluntary export restraint (VER) refers to a quota that a nation imposes on its exports, usually at the request of another nation.

Explain why governments impose restrictions on free trade.

The two main reasons countries levy tariffs are to protect domestic producers and to generate revenue.

Financial assistance to domestic producers in the form of cash payments, low-interest loans, tax breaks, or product price supports is called a(n) ________.

The term "chaebol" refers to ________.

A restriction on the amount of a good that can enter or leave a nation during a certain period of time is called a tariff.

The most common tariff used today is the ________ tariff.

A(n) ________ tariff is levied as a specific fee for each unit of an imported product.

Tariff-quotas are used extensively in the trade of ________.

Which of the following is NOT true about maquiladoras?

A restriction on the amount of a good that can enter or leave a country during a certain period of time is called a(n) ________.

Globalization

Cross-Cultrual Busines

Politics, Law, and Business Ethics

Economic Systems and Development

International Trade

Foreign Direct Investment

Regional Economic Integration

International Financial Markets

International Money System

International Strategy and Organization

Analyzing International Opportunities

Selecting and Managing Entry Modes

Developing and Marketing Products

Managing International Operations

Hiring and Managing Employees

Filters

Exam 6: Business-Government Trade Relations

A complete ban on trade (imports and exports) in one or more products with a particular country is called a(n) ________.

Which of the following is a reason why governments impose import quotas?

Describe the role of special government agencies in promoting exports and imports.

Explain the role of the World Trade Organization in international trade. How is its role different from that of its predecessor?

Because of the efforts of supranational organizations such as the World Trade Organization, nations around the world have completely eliminated barriers to trade.

Suppose imports entering a nation under a quota limit of 8,500 tons of rice are charged a tariff of 15 percent, but subsequent imports of rice that do not make it under this quota limit are charged a tariff of 68 percent. This is an example of a(n) ________.

The World Trade Organization usually settles arguments involving subsidies quickly and easily.

A tariff levied by the government of a country that a product is passing through on its way to its final destination is called an import tariff.

Which of these adds to the cost of an imported product by levying an additional tax upon it?

A voluntary export restraint (VER) refers to a quota that a nation imposes on its exports, usually at the request of another nation.

Explain why governments impose restrictions on free trade.

The two main reasons countries levy tariffs are to protect domestic producers and to generate revenue.

Financial assistance to domestic producers in the form of cash payments, low-interest loans, tax breaks, or product price supports is called a(n) ________.

The term "chaebol" refers to ________.

A restriction on the amount of a good that can enter or leave a nation during a certain period of time is called a tariff.

The most common tariff used today is the ________ tariff.

A(n) ________ tariff is levied as a specific fee for each unit of an imported product.

Tariff-quotas are used extensively in the trade of ________.

Which of the following is NOT true about maquiladoras?

A restriction on the amount of a good that can enter or leave a country during a certain period of time is called a(n) ________.

Globalization

Cross-Cultrual Busines

Politics, Law, and Business Ethics

Economic Systems and Development

International Trade

Foreign Direct Investment

Regional Economic Integration

International Financial Markets

International Money System

International Strategy and Organization

Analyzing International Opportunities

Selecting and Managing Entry Modes

Developing and Marketing Products

Managing International Operations

Hiring and Managing Employees

Filters