Exam 3: Global Trade and Integration

In which system will economic policies be harmonized among members and countries seek to follow the same economic policy?

The World Trade Organization replaced the GATT treaty.

Outsourcing refers to the relinquishing of organizational control of a business process to a third-party external entity.

The application of laws outside of country borders is:

The U.S.government has no formal anti-boycott law because boycott regulations are instituted at the local level.

Which trade agreement currently encompasses all seventeen members of the Arab League?

Government policies limiting trade do not include:

A monarchy form of government means a dictator leads all national activities.

Which involves the use of a third party when entering a foreign country?

Some governments offer subsidies as an effort to assist domestic businesses from the threat of imports from foreign countries.

Discuss the various types of governmental forms that pertain to international trade.What are the main characteristics of each form?

The Foreign Corrupt Practices Act outlaws:

Describe the various governmental policies that can be used to limit free trade between countries.

Discuss the many benefits of free trade that have been discussed in the textbook.Do you agree with the list of benefits? Why or why not? Which of the benefits do you feel is most important? Why?

________ are made up of a group of countries that have entered into an agreement to reduce tariffs,quotas,and other barriers to the movement of goods and services:

Due to its political instability,there are very few regional unions in Africa.

All of the following are presented in the textbook as benefits of free trade except:

Which of the following occurs when goods enter into a country?

Which of the following occurs when goods are transferred or shipped to a foreign country?

The Sherman Act and the Clayton Act are: