armstrong15_tif - Chapter 15 The Global Marketplace...

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Chapter 15 The Global Marketplace Multiple-Choice 1. A _____ is one that, by operating in more than one nation, gains marketing, production, R&D, and financial advantages that are not available to purely domestic competitors. a. national firm b. domestic firm c. regional firm d. global firm Answer: (d) Difficulty: (2) Page: 519 2. The _____ sees the world as one market. It minimizes the importance of national boundaries and develops “supranational” brands. a. global firm b. domestic firm c. regional firm d. national Answer: (a) Difficulty: (2) Page: 519 3. Ford trucks sold in North America have their chassis built in North America and assembled in Brazil. _____ gain advantages by planning, operating, and coordinating their activities on a worldwide basis. a. Regional firms b. Domestic firms c. U.S. firms d. Global firms Answer: (d) Difficulty: (2) Page: 519 4. The most common trade barrier is the _____, which is a tax levied by a foreign government against certain imported products. a. quota b. tariff c. license d. exchange control Answer: (b) Difficulty: (2) Page: 520 5. A(n) _____ is a ban on the import of a certain product. a. quota b. tariff c. exchange control d. embargo Answer: (d) Difficulty: (2) Page: 520 92
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6. _____ are government limits on the amount of foreign exchange with other countries and on the exchange rate against other currencies. a. Quotas b. Exchange controls c. Embargos d. Nontariff trade barriers Answer: (b) Difficulty: (2) Page: 520 7. The _____ enforces GATT rules. a. EU b. Common Market c. NAFTA d. WTO Answer: (d) Difficulty: (2) Page: 520 8. The _____ deals with worldwide trade in banking, securities, insurance and services. a. GATT b. WTO c. GATS d. EU Answer: (c) Difficulty: (2) Page: 520 9. The _____ is a 56-year old treaty designed to promote world trade by reducing tariffs and other international trade barriers. a. GATS b. GATT c. WTO d. EU Answer: (b) Difficulty: (2) Page: 520 10. According to the text, a new round of GATT negotiations began in _____ in late 2001 and is expected to conclude in January 2005. a. Uruguay b. San Francisco c. Doha, Qatar d. Bombay, India Answer: (c) Difficulty: (2) Page: 520 93
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11. All of the following statements are accurate descriptions of the EU, except which one? a. Today, the EU has 15 member nations that belong together. b. The EU was formed in 1957 and was then called the Common Market. c. The EU accounts for 20 percent of the word’s exports. d. There is no free movement of labor and capital across member nations within the EU. Answer: (d) Difficulty: (2) Page: 521 12. Prior to the formation of NAFTA, there was CUSFTA until 1989. The two members were_____. a. Mexico and Canada b. Mexico and USA c. USA and Canada e. Japan and USA Answer: (c) Difficulty: (2) Page: 521 13. _____ is a free trade agreement between the USA, Canada, and Mexico. a.
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armstrong15_tif - Chapter 15 The Global Marketplace...

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