Question 1

What is the primary mission of the International Monetary Fund?

Accepted Answer

A)  To promote international economic stability. 
B)  To promote long-term development in the poorest countries. 
C)  To promote international fair trade. 
D)  To overcome shortages of private capital. 
A)  To promote international economic stability. 
B)  To promote long-term development in the poorest countries. 
C)  To promote international fair trade. 
D)  To overcome shortages of private capital.

Question 2

Exporting a product at a price below the price it normally sells for in its home market is known as:

Accepted Answer

A)  structural adjustment. 
B)  dumping. 
C)  free trade. 
D)  offshoring. 
A)  structural adjustment. 
B)  dumping. 
C)  free trade. 
D)  offshoring.

Question 3

Which of the following is a measure of social globalization?

Accepted Answer

A)  Telephone traffic 
B)  The number of embassies in a country 
C)  Tariff rates 
D)  Import barriers 
A)  Telephone traffic 
B)  The number of embassies in a country 
C)  Tariff rates 
D)  Import barriers

Question 4

Under GATT,the decision of a dispute body can be overturned only by the unanimous veto of all members.

Accepted Answer

A) True 
 B)False

Question 5

Under which of the following forces of globalization does environmentalism come?

Accepted Answer

A)  MNCs 
B)  Governments 
C)  Capital 
D)  Ideas 
A)  MNCs 
B)  Governments 
C)  Capital 
D)  Ideas

Question 6

Which of the following laws raised 890 tariff lines covering tens of thousands of items and increasing the average American duty on imported goods?

Accepted Answer

A)  The Fordney-McCumber Tariff Act 
B)  The Buy American Act 
C)  The Trade and Tariff Act 
D)  The Smoot-Hawley Tariff Act 
A)  The Fordney-McCumber Tariff Act 
B)  The Buy American Act 
C)  The Trade and Tariff Act 
D)  The Smoot-Hawley Tariff Act

Question 7

What is the national treatment principle?

Accepted Answer

A)  Increasing national power by managing the economy to create a trade surplus. 
B)  A principle of national self-sufficiency and economic independence. 
C)  Equal treatment for imported and local goods in a domestic market. 
D)  A principle enacted in some trade agreements requiring that if one participant extends any benefit to another,that participant must extend the same benefit to all. 
A)  Increasing national power by managing the economy to create a trade surplus. 
B)  A principle of national self-sufficiency and economic independence. 
C)  Equal treatment for imported and local goods in a domestic market. 
D)  A principle enacted in some trade agreements requiring that if one participant extends any benefit to another,that participant must extend the same benefit to all.

Question 8

What are the Bretton Woods institutions?

Accepted Answer

After World War II,representatives of th

Question 9

What is the European Union (EU)?

Accepted Answer

On March 25,1957,six European countries-

Question 10

A tax or duty charged by a government on goods moved across a border is known as a:

Accepted Answer

A)  tariff. 
B)  subsidy. 
C)  quota. 
D)  trade barrier. 
A)  tariff. 
B)  subsidy. 
C)  quota. 
D)  trade barrier.

Question 11

The first step in the formation of this organization was taken in 1987 when the United States and Canada signed a free trade agreement.

Accepted Answer

A)  IMF 
B)  EU 
C)  WTO 
D)  NAFTA 
A)  IMF 
B)  EU 
C)  WTO 
D)  NAFTA

Question 12

Protectionism is principally an economic issue.

Accepted Answer

A) True 
 B)False

Question 13

In the Uruguay Round,developed countries concluded an Agreement on Trade-Related Aspects of Intellectual Property Rights that required participants to:

Accepted Answer

A)  protect private property owners' rights in all countries. 
B)  protect property rights in products such as software,digital entertainment,and pharmaceuticals. 
C)  liberalize restrictions on direct investment in a wide range of areas. 
D)  limit the exportation of products by a business. 
A)  protect private property owners' rights in all countries. 
B)  protect property rights in products such as software,digital entertainment,and pharmaceuticals. 
C)  liberalize restrictions on direct investment in a wide range of areas. 
D)  limit the exportation of products by a business.

Question 14

All of the following are true of protectionism EXCEPT:

Accepted Answer

A)  industries must be shielded from foreign competition. 
B)  large trade deficits of the United States must be reduced. 
C)  maximum gain on a worldwide basis will be realized if capital flows are unrestricted. 
D)  trade barriers in foreign countries restrict American imports to them. 
A)  industries must be shielded from foreign competition. 
B)  large trade deficits of the United States must be reduced. 
C)  maximum gain on a worldwide basis will be realized if capital flows are unrestricted. 
D)  trade barriers in foreign countries restrict American imports to them.

Question 15

The fundamental objective of this organization was to prevent a recurrence of Europe's devastating wars such as World War I and World War II.

Accepted Answer

A)  IMF 
B)  EU 
C)  WTO 
D)  NAFTA 
A)  IMF 
B)  EU 
C)  WTO 
D)  NAFTA

Question 16

This is an agreement negotiated in 1991 among Argentina,Brazil,Paraguay,and Uruguay.

Accepted Answer

A)  EU 
B)  NAFTA 
C)  Mercosur 
D)  ASEAN 
A)  EU 
B)  NAFTA 
C)  Mercosur 
D)  ASEAN

Question 17

One of the measures of political globalization is:

Accepted Answer

A)  inflows of foreign direct investment as a percent of GDP. 
B)  newspaper and book sales. 
C)  participation in international organizations. 
D)  trade as a percent of GDP. 
A)  inflows of foreign direct investment as a percent of GDP. 
B)  newspaper and book sales. 
C)  participation in international organizations. 
D)  trade as a percent of GDP.

Question 18

What is the purpose of the General Agreement on Tariffs and Trade (GATT)?

Accepted Answer

A)  To devalue currencies and limit cross-border movement of funds. 
B)  To overcome shortages of private capital to make loans for rebuilding war-torn nations. 
C)  To raise the cost of imports,making them less competitive with similar domestic goods. 
D)  To expand trade by eliminating discriminatory barriers. 
A)  To devalue currencies and limit cross-border movement of funds. 
B)  To overcome shortages of private capital to make loans for rebuilding war-torn nations. 
C)  To raise the cost of imports,making them less competitive with similar domestic goods. 
D)  To expand trade by eliminating discriminatory barriers.

Question 19

This is a treaty in which two or more nations agree to reduce or eliminate barriers,opening their borders to freer mutual trade.

Accepted Answer

A)  Protectionism 
B)  Free trade agreement 
C)  Customs union 
D)  Global trade compliance 
A)  Protectionism 
B)  Free trade agreement 
C)  Customs union 
D)  Global trade compliance

Question 20

This theory follows that maximum gain on a worldwide basis will be realized if there are no impediments to trade,if there is free competition in pricing,and if capital flows are unrestricted.

Accepted Answer

A)  The marginalist theory 
B)  The law of comparative advantage 
C)  "Buy American" laws 
D)  The Doctrine of Protectionism 
A)  The marginalist theory 
B)  The law of comparative advantage 
C)  "Buy American" laws 
D)  The Doctrine of Protectionism

What is the primary mission of the International Monetary Fund?

Exporting a product at a price below the price it normally sells for in its home market is known as:

Which of the following is a measure of social globalization?

Under GATT,the decision of a dispute body can be overturned only by the unanimous veto of all members.

Under which of the following forces of globalization does environmentalism come?

Which of the following laws raised 890 tariff lines covering tens of thousands of items and increasing the average American duty on imported goods?

What is the national treatment principle?

What are the Bretton Woods institutions?

What is the European Union (EU)?

A tax or duty charged by a government on goods moved across a border is known as a:

The first step in the formation of this organization was taken in 1987 when the United States and Canada signed a free trade agreement.

Protectionism is principally an economic issue.

In the Uruguay Round,developed countries concluded an Agreement on Trade-Related Aspects of Intellectual Property Rights that required participants to:

All of the following are true of protectionism EXCEPT:

The fundamental objective of this organization was to prevent a recurrence of Europe's devastating wars such as World War I and World War II.

This is an agreement negotiated in 1991 among Argentina,Brazil,Paraguay,and Uruguay.

One of the measures of political globalization is:

What is the purpose of the General Agreement on Tariffs and Trade (GATT)?

This is a treaty in which two or more nations agree to reduce or eliminate barriers,opening their borders to freer mutual trade.

This theory follows that maximum gain on a worldwide basis will be realized if there are no impediments to trade,if there is free competition in pricing,and if capital flows are unrestricted.

The Study of Business, Government, and Society

The Dynamic Environment

Business Power

Critics of Business

Corporate Social Responsibility

Implementing Corporate Social Responsibility

Business Ethics

Making Ethical Decisions in Business

Business in Politics

Regulating Business

Multinational Corporations

Industrial Pollution and Environmental Regulation

Managing Environmental Quality

Consumerism

The Changing Workplace

Civil Rights, Women, and Diversity

Corporate Governance

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Exam 12: Globalization, Trade, and Corruption

What is the primary mission of the International Monetary Fund?

Exporting a product at a price below the price it normally sells for in its home market is known as:

Which of the following is a measure of social globalization?

Under GATT,the decision of a dispute body can be overturned only by the unanimous veto of all members.

Under which of the following forces of globalization does environmentalism come?

Which of the following laws raised 890 tariff lines covering tens of thousands of items and increasing the average American duty on imported goods?

What is the national treatment principle?

What are the Bretton Woods institutions?

What is the European Union (EU)?

A tax or duty charged by a government on goods moved across a border is known as a:

The first step in the formation of this organization was taken in 1987 when the United States and Canada signed a free trade agreement.

Protectionism is principally an economic issue.

In the Uruguay Round,developed countries concluded an Agreement on Trade-Related Aspects of Intellectual Property Rights that required participants to:

All of the following are true of protectionism EXCEPT:

The fundamental objective of this organization was to prevent a recurrence of Europe's devastating wars such as World War I and World War II.

This is an agreement negotiated in 1991 among Argentina,Brazil,Paraguay,and Uruguay.

One of the measures of political globalization is:

What is the purpose of the General Agreement on Tariffs and Trade (GATT)?

This is a treaty in which two or more nations agree to reduce or eliminate barriers,opening their borders to freer mutual trade.

This theory follows that maximum gain on a worldwide basis will be realized if there are no impediments to trade,if there is free competition in pricing,and if capital flows are unrestricted.

The Study of Business, Government, and Society

The Dynamic Environment

Business Power

Critics of Business

Corporate Social Responsibility

Implementing Corporate Social Responsibility

Business Ethics

Making Ethical Decisions in Business

Business in Politics

Regulating Business

Multinational Corporations

Industrial Pollution and Environmental Regulation

Managing Environmental Quality

Consumerism

The Changing Workplace

Civil Rights, Women, and Diversity

Corporate Governance

Filters