qz 3 sherry - Marks: 2 The trade theory that espouses...

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Marks: 2 The trade theory that espouses (promotes) the notion that governments should intervene in trade with market imperfections such as tariffs and quotas to encourage exports and discourage imports is known as: Choose one answer. a. Mercantilism b. Free Trade Theory c. Market Imperfections Theory d. New Trade Theory e. The Porter Diamond Correct Marks for this submission: 2/2. Question 2 Marks: 2 Corporate Social Responsibility is what managers believe to be right or wrong, good or bad. It helps managers know when certain behaviors are appropiate or not, such as whether corporate phones can be used for personal calls or not. Answer: True False Correct Marks for this submission: 2/2. Question 3 Marks: 2 When taking on a foreign partner, firms expect to reduce risks and share profits . Answer: True False Correct Marks for this submission: 2/2. Question 4 Marks: 2 In a ________________, there are many restrictions on supply. Choose one answer. a. Free market economy b. Command economy c. Mixed economy Incorrect Marks for this submission: 0/2. Question 5 Marks: 2 Which of the following is not true regarding trade? Choose one answer. a. Slower economic output slows the volume of international trade b. Generally speaking, countries experiencing an economic recession will see
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their national currencies devalued, resulting in less purchasing power to buy imported goods c. Composite world trade has historically grown faster than world output d. The U.S.A. continues to be the leader in world merchandise exports but China is closing in on them e. All of these answers are correct regarding trade Incorrect Marks for this submission: 0/2. Question 6 Marks: 2 Norway is a Nordic country where the weather is very cold in the winter and cool much of the year. Norway cannot grow an adequate supply of fresh fruit for its people. However, Norway is an oil rich country and has a vibrant fishing industry. Which of the following is not a likely route Norway would take regarding its imports and exports? Choose one answer. a. Norway is likely to import more and more oil given the rapid decline in crude oil prices over the past year. Revenues used from such imports will be used to buy fresh fruit for its people b. Norway is likely to use revenues from petroleum exports to fund imports of fruit for its people. c. Norway is likely to use revenues from the export of fish to fund imports for food items such as fruit that it cannot grow for itself d. Norway is likely to use its comparative advantage in fish and oil to earn export revenues, revenues which will subsequently be used to purchase goods it does not have a comparative advantage in e. Actually, all of these are equally like strategies Norway is likely to pursue regarding its international trade policy Incorrect Marks for this submission: 0/2. Question 7
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qz 3 sherry - Marks: 2 The trade theory that espouses...

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