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Exam 6: Business-Government Trade Relations

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Question 41

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Scenario: Konesia Joins the World Konesia,a former totalitarian economy and pariah state,is taking steps toward a free market economy.The government wants to encourage trade but also wants to find a balance so that local businesses and industries are not harmed. -If Konesia chooses to levy tariffs as a percentage of the stated price of an imported product,this would be an example of a(n) ________.

A) compound tariff
B) specific tariff
C) ad valorem tariff
D) tariff-quota

E) C) and D)
F) All of the above

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Question 42

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Explain why job protection is a political motive for governments to restrict free trade.Why might a government interested in job protection insist on local content requirements for international firms doing business in that country?

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Government officials often make trade-re...

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Question 43

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Consumers are benefitted when a government imposes import quotas on products.

Which of the following statements is true of embargoes?

Which of the following will add to the cost of an imported product by levying an additional tax upon it?

The World Trade Organization can punish a country in which a company accused of dumping is based.

Which of the following is prompting farmers in many developed nations to discover new ways to manage risk and increase agricultural efficiency?

Unwanted cultural influence in a nation can cause governments to block imports that it believes are harmful.

The ________ altered the U.S.trade policy from a stance of free trade to one of protectionism in the 1930s.

Scenario: Not-So-Free Freeland Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy.The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition. -The belief that Freeland's emerging industries need protection from international competition during their development phase is an example of ________.

A restriction on the amount of a good that can enter or leave a country during a certain period of time is called a(n) ________.

Which of the following do products designated as dual use require before exports can take place?

Country A implements a ban on trade in two products with Country B.This is an example of a(n) ________.

The purpose of ________ is to force companies from other nations to use local resources in their production processes,particularly labor.

A tariff levied by the government of a country that a product is passing through on its way to a final destination is called a ________ tariff.

Scenario: Not-So-Free Freeland Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy.The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition. -Which of the following motives illustrates Freeland's efforts to protect local jobs?

Scenario: Not-So-Free Freeland Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy.The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition. -Freeland's protection of its national identity is an example of a(n) ________.

When one World Trade Organization member files a complaint against another,decisions are to be rendered in less than one year.

Which of the following is true of quotas?

Restrictions on the convertibility of a currency into other currencies are referred to as ________.