Exam 2: International Trade Frameworks and Policy

The World Bank was initially formed in 1944 to aid countries suffering from the destruction of war.

The _____ has its origins in the GATT,to which it became the successor organization in January of 1995.

Which of the following gave Congress the right to accept or reject trade treaties and agreements,but reduced the amendment procedures?

Which of the following statements about the IMF is true?

Describe the significance of export promotion efforts.

The belief that international trade was a key to worldwide prosperity led the United States to create a "Pax Americana."

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

When a company expands its market by offering its products to international customers,it can produce more of its products efficiently,thus reducing the overall cost of each individual unit.This is known as _____.

Providing preferential treatment to domestic bidders over foreign bidders,using national standards that are not comparable to international standards,placing emphasis on design rather than performance,and providing for general difficulties in the market entry of foreign products are all examples of _____.

Meat-eats,a business entity located in Miami has recently started promoting "Buying U.S.A.," a campaign that focuses on the purchase of meat products that are manufactured exclusively in the United States.This campaign would be projected as _____.

Which of the following statements is true about foreign direct investment?

_____ are special because they can affect currency values and the fiscal and monetary policies of governments,shape public perception of competitiveness,and determine the level of imports a country can afford.

The Transatlantic Business Dialogue (TBD)is a nongovernmental organization composed of business leaders from Europe and the United States.

A restriction of foreign direct investments will result in less domestic control over industries.

Which of the following statements about the GATT is true?

Common coinage was developed in ancient Rome to ensure that business transactions could easily be carried out throughout the empire.

Government support in the form of export promotion assistance is appropriate if it increases market transparency.

The competitive pressures exerted by imports work to keep quality high and prices low.