International Trade Concepts Quiz for BUS 3370 Students

Quiz Question 1 (1 point) Saved Listen A ________ refers to any factory located in an FTZ in Mexico. Question 1 options: maquiladora greenfield operation keiretsu chaebol Question 2 (1 point) Saved Listen A country's adoption of strategic trade policies to cover a broad group of industries can actually reduce the country's overall international competitiveness because favoring certain industries inevitably hurts others. Question 2 options: True False Question 3 (1 point) Saved Listen A voluntary export control is most likely used to ________. Question 3 options: punish political enemies appeal to domestic politicians avoid trade conflicts with friendly trade partners comply with strict product and testing standards Question 4 (1 point)

Saved Listen A(n) ________ imposes a low tariff rate on a limited amount of imports of a specified good, but imposes a prohibitively high tariff on the good above that limited amount. Question 4 options: tariff rate quota numerical export control voluntary export restraint ad valorem tariff Question 5 (1 point) Saved Listen A(n) ________ is an absolute ban on the exporting and importing of goods to a particular destination. Question 5 options: voluntary export restraint embargo ad valorem tariff tariff rate quota Question 6 (1 point) Saved Listen A(n) ________ is a geographic area where imported or exported goods receive preferential tariff treatment. Question 6 options: free trade zone foreign trade zone fair trade zone economic incentive zone

Question 7 (1 point) Saved Listen According to strategic trade theory, a national government can make its country better off if it implements trade policies that improve the competitiveness of its firms in oligopolistic industries. Question 7 options: True False Question 8 (1 point) Saved Listen As a result of trade agreements, many countries have replaced quotas with ________. Question 8 options: tariff rate quotas numerical export controls voluntary export restraints regulatory controls Question 9 (1 point) Saved Listen Most critics of unfair trade practice laws are concerned that such laws ________. Question 9 options: promote globalization encourage mercantilism fail to protect poor consumers serve as protectionist trade barriers

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Question 10 (1 point) Saved Listen In many cases, tariffs are imposed for the purpose of ________. Question 10 options: increasing national government revenue complying with trade regulations increasing foreign trade activity promoting consumer safety Question 11 (1 point) Saved Listen NAFTA provided many of the benefits of Mexico's foreign trade zones to factories throughout Mexico. Question 11 options: True False Question 12 (1 point) Saved Listen Famous Footwear imports a variety of athletic shoes, work boots, and casual footwear from around the world. Which of the following would most likely provide Famous Footwear with a detailed classification scheme for its imported shoes? Question 12 options: tariff rate quota ad valorem report compound tariff report harmonized tariff schedule Question 13 (1 point)

Saved Listen Country X imposes a low tariff rate for the first 5,000 pounds of rice it imports from Japan and a high tariff rate on all imported rice above this threshold. Country X most likely uses a ________. Question 13 options: free trade zone tariff rate quota foreign currency control voluntary export restraint Question 14 (1 point) Saved Listen Nations sometimes implement a countervailing duty on imported goods to counter the impact of foreign subsidies. Question 14 options: True False Question 15 (1 point) Saved Listen Public-sector procurement policies are common in Country X. Which of the following is the most likely characteristic of Country X? Question 15 options: extensive state ownership of industry highly educated labor force numerous small firms minimal tariffs

Question 16 (1 point) Saved Listen Since the 1960s, the United States has maintained an embargo against ________. Question 16 options: Russia China North Korea Cuba Question 17 (1 point) Saved Listen The "level playing field" argument is primarily used to justify government policies that ________. Question 17 options: reduce import tariffs restrict foreign competition establish regional trade blocs manipulate foreign exchange Question 18 (1 point) Saved Listen The federal government policy that international air travel purchased with U.S. government funds must occur on U.S. airlines is an example of which type of nontariff barrier? Question 18 options: restricted access to distribution networks numerical export controls public-sector procurement policies

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local-purchase requirements Question 19 (1 point) Saved Listen The U.S. government has decided to impose a tariff rate quota on sugar imports into the United States. Which of the following would benefit from this decision? Question 19 options: soft drink producers domestic sugar producers steel producers consumers of sugar products Question 20 (1 point) Saved Listen What type of tariff is assessed as a percentage of the market value of the imported good? Question 20 options: transit tariff ad valorem tariff specific tariff compound tariff Submit Quiz 20 of 20 questions saved Listen

Chapter 9 Knowledge Quiz BUS 3370

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