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Exam 3: Global Business

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Question 41

Multiple Choice

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An unfavourable balance of trade occurs when

A) exports are greater than imports.
B) imports are greater than exports.
C) the total outflow of money is greater than the total inflow of money.
D) the total outflow of money is less than the total inflow of money.
E) exports equal imports.

F) A) and B)
G) D) and E)

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Question 42

Multiple Choice

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A restriction on the amount of a particular foreign currency that can be purchased or sold is a

A) monetary export control.
B) nontariff barrier.
C) currency devaluation.
D) currency control.
E) foreign-exchange control.

F) C) and D)
G) B) and E)

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Question 43

Multiple Choice

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All of the following are reasons against having trade restrictions except

Which of the following countries is not part of the Trans-Pacific Partnership?

When it built production lines in the UK, BMW engaged in what type of international expansion?

A draft is issued by the exporter's bank, ordering the importer's bank to pay for the merchandise and thus guaranteeing payment once it is accepted by the importer's bank.

The Organisation of Petroleum Exporting Countries is a group that was formed in 1960 in response to reductions in the prices that oil companies were willing to pay for crude oil.

If the Korean government charged tariffs on Japanese automobiles and in turn the Japanese government put tariffs on Korean automobiles, Japan's major rationale for imposing these tariffs would be to

The ___ was established in 1944 and offers low-interest loans and interest-free credit to developing countries?

If Japan were regarded as the best electronics manufacturer in the world, what would be true?

Who are the two largest contributors to the Asian Development Bank?

Arguments for the government imposing restrictions on foreign trade include

Lynn Bernerd, Inc. Lynn Bernerd, Inc., manufactures and sells reclining furniture.The company wishes to expand overseas.The company managers have been contemplating the best way to enter the foreign market.At first, the management felt it would be in the company's best interest to let a foreign company use its product and brand in exchange for a royalty.The managers recognised, however, that before the company decided on its foreign strategy it needed to think through all the steps required to enter an international market.As such, the managers believed they needed to consult with some type of agency to help their firm compete more effectively in the global marketplace. After all the research was completed, the senior managers realised that they wanted to export their product.The managers decided that the transport carrier would notify them when the merchandise was shipped.This would avoid any confusion about lost shipments and ensure better communication with the receiving parties. -Refer to Lynn Bernerd, Inc.Which of the following options is not one of the steps needed for entering an international market?

The payments portion of the balance of payments-that is, payments made by the UK-does not include

The World Trade Organisation (WTO) was established by GATT to oversee the provisions of the Uruguay Round.

Least-favoured-nation (LFN) status was the famous principle of GATT.

A ____ is issued by a bank upon request of an importer stating that the bank will pay an amount of money to a stated beneficiary.

The Saudi Arabian government does not allow the consumption of alcoholic beverages within its country.The Saudi Arabian government is imposing a(n)

All five multilateral development banks are supported by the industrialised nations.

An import duty has the effect of all of the following except