WORLD OF BUSINESS COMPREHENSIVE
EXAM TEST PAPER WITH SOLVED
QUESTIONS GRADED A+
◉ The tax that the United States imposes on imported carbon
steel products is called a tariff.
a. True
b. False
Answer: a
◉ The European Union (EU) bans the importation of hormone-fed
U.S. beef and bioengineered corn and soybeans on safety grounds
although Americans eat this food every day. This ban is so
consumers in the EU will buy domestic beef and products made
from domestically produced corn and soybeans. This ban is an
example of:
a. Free trade
b. Ethnocentricity
c. Dumping
d. Countertrading
e. Protectionism
Answer: e
, ◉ A(n) ___ is a tax levied by a nation on imported goods.
a. Embargo
b. Tariff
c. Premium
d. Boycott
e. Subsidy
Answer: b
◉ The World Bank's emphasis has recently shifted from helping to
build the infrastructure of developing countries to:
a. Purchasing food for the population
b. Building highways, schools, and hospitals
c. Developing new agricultural techniques
d. Offering loans to help to relieve their debt burden
e. Expansion of local product lines for more exporting
Answer: d
◉ If the sole proprietorship acquires a legal business name, the
owner then has limited liability.
a. True
EXAM TEST PAPER WITH SOLVED
QUESTIONS GRADED A+
◉ The tax that the United States imposes on imported carbon
steel products is called a tariff.
a. True
b. False
Answer: a
◉ The European Union (EU) bans the importation of hormone-fed
U.S. beef and bioengineered corn and soybeans on safety grounds
although Americans eat this food every day. This ban is so
consumers in the EU will buy domestic beef and products made
from domestically produced corn and soybeans. This ban is an
example of:
a. Free trade
b. Ethnocentricity
c. Dumping
d. Countertrading
e. Protectionism
Answer: e
, ◉ A(n) ___ is a tax levied by a nation on imported goods.
a. Embargo
b. Tariff
c. Premium
d. Boycott
e. Subsidy
Answer: b
◉ The World Bank's emphasis has recently shifted from helping to
build the infrastructure of developing countries to:
a. Purchasing food for the population
b. Building highways, schools, and hospitals
c. Developing new agricultural techniques
d. Offering loans to help to relieve their debt burden
e. Expansion of local product lines for more exporting
Answer: d
◉ If the sole proprietorship acquires a legal business name, the
owner then has limited liability.
a. True
