Question 1

_____ is the largest Latin American trade agreement,and it includes Argentina,Bolivia,Brazil,Chile,Colombia,Ecuador,Paraguay,Peru,Uruguay,and Venezuela.

Accepted Answer

A)   Mercosur
B)   General Agreement on Tariffs and Trade (GATT) 
C)   The Uruguay Round
D)   The North American Free Trade Agreement (NAFT
A)  E) All of the above
F) A) and B)

Question 2

Which of the following statements is a characteristic of dumping?

Accepted Answer

A)   It refers to exporter business trying to decrease an overseas market share
B)   It refers to the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter
C)   It refers to a form of trade in which all or part of the payment for goods or services is in the form of other goods or services.
D)   It refers to a system in which prices of different currencies move up and down based on the demand for and the supply of each currencyE) C) and D)
F) A) and B)

Question 3

If a country can boost exports and limit imports,then fewer jobs are created and there is more competition for local businesses.

Accepted Answer

A) True 
 B)False

Question 4

When a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity,it is called _____________.

Accepted Answer

A)   licensing
B)   contract manufacturing
C)   a joint venture
D)   a direct foreign investmentE) A) and D)
F) A) and B)

Question 5

Which of the following is NOT correct regarding the practice of inshoring?

Accepted Answer

A)   Rapid consumer product innovation has led to the need to keep production experts in close proximity so that they can work together.
B)   Expanding development and manufacturing timelines have contributed to inshoring.
C)   Increased fuel and transportation costs associated with long-distance shipping has given impetus to inshoring.
D)   Rising wages in the developing world have made U.S.rates more competitive.E) C) and D)
F) B) and D)

Question 6

A form of trade in which all or part of the payment for goods or services is in the form of other goods or services is called __________.

Accepted Answer

A)   countertrade
B)   global trade
C)   domestic trade
D)   dumpingE) A) and B)
F) A) and C)

Exam 5: Developing a Global Vision

Which of the following statements is a characteristic of dumping?

Correct Answer
verified

When a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity,it is called _____________.

Correct Answer
verified

A form of trade in which all or part of the payment for goods or services is in the form of other goods or services is called __________.

Correct Answer
verified

Which of the following is NOT correct regarding the practice of inshoring?

Correct Answer
verified

If a country can boost exports and limit imports,then fewer jobs are created and there is more competition for local businesses.

Correct Answer
verified

_____ is the largest Latin American trade agreement,and it includes Argentina,Bolivia,Brazil,Chile,Colombia,Ecuador,Paraguay,Peru,Uruguay,and Venezuela.

Correct Answer
verified

Exam 5: Developing a Global Vision

Which of the following statements is a characteristic of dumping?

Correct AnswerverifiedShow Answer

When a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity,it is called _____________.

Correct AnswerverifiedShow Answer

A form of trade in which all or part of the payment for goods or services is in the form of other goods or services is called __________.

Correct AnswerverifiedShow Answer

Which of the following is NOT correct regarding the practice of inshoring?

Correct AnswerverifiedShow Answer

If a country can boost exports and limit imports,then fewer jobs are created and there is more competition for local businesses.

Correct AnswerverifiedShow Answer

_____ is the largest Latin American trade agreement,and it includes Argentina,Bolivia,Brazil,Chile,Colombia,Ecuador,Paraguay,Peru,Uruguay,and Venezuela.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified