Exam 2: Economic Environment

Over the Internet,any piece of electronically represented intellectual property can be instantly copied anywhere in the world.

Any start-up firm becoming global at its first inception is called as 'born again firm'.

The World Trade Organization (WTO)took effect on:

India's average growth rate in GDP has been over:

The sovereignty of _______________ will perhaps continue to weaken due to multinationals and the increasing integration of economies.

Perhaps the most important accomplishment of the latest GATT round was the establishment of:

FDI in services is controlled by U.S.firms.

One hurdle that used to protect information from being acquired easily was that it was unfungible.Unfungible means:

The International Trade Organization (ITO)was formed after:

A ________________ eliminates all tariffs and barriers to trade among members, adopts a common set of external tariffs on nonmembers,and removes all restrictions On the flow of capital and labor among member nations.

The World Trade Organization's (WTO)ninth round of trade talks which were launched in November 2001 is called:

UNCITRAL stands for:

In December 1999,WTO launched what would have become the beginning of a ___________ round of negotiations inaugurated in Seattle,Washington.

In general,the larger the country's domestic economy,the less dependent it tends to be on exports and imports relative to its ________________.

The primary difference between a common market and a customs union is that the common market:

MNCs that become global at their first inception are called:

Which of the following countries is NOT on the list of top 10 exporters?

NAFTA is the free trade area among Canada,the United States,and Chile.

The Uruguay Round set up an international body called the World Trade Organization (WTO).

Trading in foreign currencies has an effect on world trade.For example,a rise in the value of the local currency due to daily flows vis-à-vis other currencies makes Exports: