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Exam 3: Doing Business in Global Markets

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Question 141

Multiple Choice

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________ tariffs are designed to raise money for the government.

A) Regulatory
B) Revenue
C) Price
D) Profit

E) None of the above
F) A) and D)

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Question 142

True/False

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General Electric's GE)website recently noted,"Russia has been one European country in which GE has made significant investments.GE is one of the largest foreign companies in Russia,operating multiple businesses including an equipment fleet with more than 1,500 large units." With physical presence in Russia,Argentina,Australia,Belgium,Greece,Kenya,Canada and other countries,GE is an example of a multinational company.

A) True
B) False

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Question 143

Multiple Choice

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Global financial markets operate under a system of ___________,where the supply and demand for various currencies dictate their value at any moment in time.

An advantage of licensing is that licensors spend little or no money to produce and market their products.These costs are born by the licensees.

The concept of free trade means:

Global trade includes the exchange of art,sports,and cultural events.

Joanna Bresee,a graduate student from Carnegie Mellon,connected with the culture of Madagascar when she created lamba hoany a native garment)with artful messages to save the more than 150 rare species of animals that inhabit Madagascar.In contrast to many Americans trying to do business abroad,Joanna successfully adapted her message to the native culture when she imprinted it on the native garment.

Opponents of The North American Free Trade Agreement NAFTA)warned that it would have serious economic consequences such as the loss of U.S.jobs.

Ozark Bikes,Inc.has information that its bicycles will sell in Vietnam.In order to sell its products in Vietnam,the Vietnamese government requires Ozark Bikes to enter into a partnership,also known as a joint venture)with a domestic firm.Both firms will assume costs and risk in the venture.

The __________ represents the first attempt to establish a truly global mediation center to resolve international trade disputes.

Even though the U.S.exports a vast amount of goods globally,it exports a much lower percentage of its products than other countries do.

Which of the following statements describes laws and regulations in global markets?

Initially,Rhett believed he should maintain his production facilities within the United States and simply export his designer eyeglass frames to foreign sellers.However,he lacked expertise in exporting.Rhett decided to see if the federal government could provide any help by contacting an) :

The purpose of the General Agreement on Tariffs and Trade GATT) is to:

Which of the following statements is the most accurate observation regarding multinational corporations?

The United States currently enjoys a favorable balance of trade with the rest of the world.

CAFTA permits the United States,Canada,and Mexico to reduce trade barriers with one another while maintaining independent trade agreements with other countries.

____________ describes an attitude held by some American business people that American culture is superior to all others.

One advantage of offshore outsourcing is that consumers benefit from lower prices.

Nontariff barriers can be just as detrimental to free trade as tariffs.