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1. Golden Gate University MGT 179 Week 3
Quiz
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MGT 179 Week 3 Quiz
Question1
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3M, an americanfirm,manufacturesadhesive tapesinSt.Paul Minnesota,andshipsthe tapestoSouth
Koreafor sale.Accordingtothisinformation,whichof the followingisbeingdone by3m?
Selectone:
a. Outsourcing
b. Exporting
c. Insourcing
d. Franchising
e. Licensing
Question2

2. Correct
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Whichof the followingstatementsismostlikelytobe true regardingthe adverse effectsof FDIonthe
hostcountry.
Selectone:
a. Whena foreignsubsidiarysendsitsprofitstoitshome country,itresultsinthe depletionof gold
reservesof the hostcountry.
b. it decreasesthe level of competitioninthe hostcountry
c. Whena foreignsubsidiaryimportsasubstantial numberof itsinputsfromabroad,itresultsina debit
on the currentaccount of the hostcountry's balance of payments
d. it tendstoincrease the pricesof the products
e. itleadsto a highrate of unemploymentinthe longrun
Question3
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Whichof the followingisthe aimof the Central AmericanFree Trade Agreement?
Selectone:
a. Eliminationof trade barriersbetweenthe CARICOMandCentral AmericanCommonMarketcountries
b. Reductionof trade barriersbetweenCaribbeanSingle MarketandEconomynationsandCentral
AmericanCommonMarketcountries
c. Introductionof acommoncurrency forCosta Rica, El Salvador,Guatemala,Honduras, andNicaragua

3. d. Loweringof trade barriersbetweenthe UnitedStatesandthe Central AmericanCommonMarket
countries
e. ReductionsintariffsandquotasbetweenCostaRica,DominicanRepublic,andNicaragua
Question4
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Whichof the followingisafeature of a common market?
Selectone:
a. Lack of administrative machinerytooversee trade relationswithnonmembers
b. Free movementof factorsof productionbetweenmemberstates
c. mandatoryuse of a common currencyamongmembernations.
d. Absence of a commonexternal trade policywithregardtononmembers
e. Establishmentof barrierstothe free flow of goodsbetweenmembers
Question5
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Dumpinginvolvesforeignproducers
Selectone:

4. a. attemptinghostile takeoversof domesticfirmsandusurpingthe available resourcesforproduction
b. indiscriminatelyexploitingthe natural resourcesof aforeigncountrytocreate a laterdemandthat
can be metonlybyimports
c. capturingthe niche marketratherthan the masses
d. exportingonlyasmall quantityof theirproductsintoanimportingcountry
e. eliminatingcompetitionbysubsidizingpricesinaforeignmarketwithhome marketprofitsand
eventuallyraisingpricestoearnsubstantial profits
Question6
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The viabilityof anexportingtime isoftenconstrainedbytransportationcosts,particularlyof products
that can be producedinalmostany locationandhave a:
Selectone:
a. highlocal contentrequirement
b. lowlicensingtariff
c. highmarginal cost
d. lowlandedcost
e. lowvalue toweightratio
Question7
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5. 1.00 pointsout of 1.00
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Whichof the followingstatementsistrue aboutimportquotas?
Selectone:
a. highertariff ratesare usuallyappliedtoimportswithinthe quotathanthose overthe quota.
b. importquotasalwayslowerthe pricesfordomesticallyproducedgoods.
c. Importquotasbenefitconsumersbydecreasingthe domesticprice of an importedgood.
d. importquotashelpforeignproducersgainacompetitiveadvantage.
e. importquotasbenefitdomesticproducersbylimitingimportcompetition
Question8
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Neo-mercantilistsequate politicalpowerwitheconomicpowerandeconomicpowerwith:
Selectone:
a. corruption
b. a balance-of-tradesurplus.
c. a trade monopoly
d. regional dominance

6. Question9
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Whichof the followinggroupsbenefitsthe mostfromthe impositionof tariffs?
Selectone:
a. Domesticproducers
b. ForeignProducers
c. Consumers
d. ExportersandImporters
e. International bodiessuchasthe WTO
Question10
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Whichof the followingstatementsistrue aboutvoluntaryexportrestraints(VERs)?
Selectone:
a. Whenimportsare limitedtoalowpercentage of the marketbya VER,the price isbidup forthat
limitedforeignsupply.
b. VERS negativelyaffectdomesticproducersbyincreasingimportcompetition.

7. c. VERSreduce the domesticprice of an importedgood
d. Foreignproducersagree toVERSbecause theyfeareconomicinstabilityinthe worldeconomy
e. VERsbenefitconsumersbylimitingimportcompetition
Question11
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Accordingto Nobel-prizewinningeconomistPaul Krugman,acountrythatattemptsto establisha
domesticfirmina dominantpositioninaglobal industryismostlike to:
Selectone:
a. dominate the industry
b. incurhuge financial debts
c. upsetthe special-interestgroupsinthe economy
d. move awayfrom protectionism
e. provoke retaliation
Question12
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8. Whichof the followingisatrade policyinstrumentthatthe GATT and WTO have beenmostsuccessful in
limiting?
Selectone:
a. Import quotas
b. Tariffs
c. Voluntaryexportrestraints
d. Subsidies
e. Local ContentRequirements
Question13
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Whichof the followingindicatesthe difference between the GATTandWTO?
Selectone:
a. GATT givestradingpartnersthe rightto compensation,or,inthe lastresort,to impose
commensurate trade sanctions,unlikethe WTO
b. WTO has strict time limitsunlike GATT
c. GATT's verdictisbinding,unlike the WTO
d. WTO allowsmember-countriestoblockadoptionof arbitrationreportsunlikeGATT
e. WTO operatesonthe basisof consensus,unlike the GATT

9. Question14
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Whichof the followingare significanttrade blocsinEurope?
Selectone:
a. EuropeanFederationandEuropeanTrade Association
b. The EuropeanFederationandthe EuropeanTrade Block
c. The EuropeanCommissionandCOMINTERN
d. The EuropeanUnionandthe EuropeanFree Trade Association
e. The EuropeanEconomicCommunityandthe EuropeanFederation
Question15
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Whichof the followinginstitutionshasamonopolyinproposingEuropeanUnionlegislation
Selectone:
a. EuropeanCommunity
b. EuropeanCourtof Justice
c. EuropeanCommission
d. EuropeanParliament

10. e. Council of the EuropeanUnion
Question16
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Whichof the followingrequiresthatsome specificfractionof agood mustbe produceddomestically?
Selectone:
a. local contentrequirement
b. Ad Valoremportionrequirement
c. Internationalallocationrequirement
d. domesticsalesrequirement
e. specificquotarequirement
Question17
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11. Accordingto Krugman,the ideal wayfora country to respond,whenthe foreigncompetitorsof its
companiesare alreadybeingsupportedbygovernmentsubsidies,isprobablynottoengage in
retaliatoryaction,butto:
Selectone:
a. provide highlevelsof subsidiestothe oldestindustryinthe country
b. use a combinationof home-marketprotectionandexport-promotingsubsidies
c. helpestablishrulesthatminimizethe use of trade-distortingsubsidies
d. provide asubsidytoa newindustrywhere the foreigncompetitorshave nothadthe benefitof such
strategictrade policies
e. adoptthe strategictrade policyasa way to establishdomesticfirmsinadominantpositioninthe
global industry
Question18
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Whichof the followingbestindicatesthe motiveforforeignfundstoengage indumping?
Selectone:
a. Meetingthe voluntaryexportrestraintrequirements
b. Unloadingexcessproductioninforeignmarkets
c. Cuttinglaborcoststo reduce the costs of production
d. Obtainingsubsidiesfromthe importingcountry.
e. Providingawiderrange of productsforconsumersinforeignmarkets

12. Question19
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The WTO's Agreementonwhichof the followingisanattemptto narrow the gapsin the wayintellectual
propertyrightsare protectedaroundthe worldand to bringthemundercommoninternationalrules?
Selectone:
a.
Court of Arbitrationof Intellectual Property(CAIP)
b. Trade-RelatedAspectsof Intellectual PropertyRights(TRIPS
c. Intellectual Property RightsEnforcementandResolution(IPER)
d. International BodyonIntellectualProperty(IBIP)
e.
Intellectual PropertyRightsEnforcementDirective (IPRED)
Question20
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Whichof the followingare bureaucraticrulesdesignedtomake itdifficultforimportstoentera
country?

13. Selectone:
a. ConsumerRegulations
b. Administrative Trade Policies
c. Subsidies
d. VoluntaryExportRestraints
e. PublicSectorRegulations
Question21
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What isthe "infantindustryargument"?Whatare itsimplicationsforthe worldeconomy?Whatare the
criticismsof thisargument?
Question22
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Outline the relationshipbetweeneconomiesof scale,first-moveradvantagesandthe patterof trade as
indicatedbynewtrade theory.

14. Question23
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What are the political argumentsforgovernmentinterventionintointernational trade?Give examples.
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