Global Business Chapter 2 Exam
_____ refers to agreements, sometimes temporary, between countries (or a group of countries) that
aim at achieving certain trade outcomes.
a. Qualitative agreements
b. Managed trade agreements
c. Quantitative agreements
d. Voluntary export agreements
e. Domestic content provision agreements - ANSWER-b. Managed trade agreements
12. When was mercantilism practiced?
a.
1300-1400
b.
1500-1750
c.
1820-1875
d.
1900-1975
e.
1990-2010 - ANSWER-b.
1500-1750
7. Which of the following was NOT one of the top exporting nations in 2010?
a.
The United States
b.
South Korea
c.
Italy
d.
Australia
e.
, Global Business Chapter 2 Exam
Belgium - ANSWER-d.
Australia
A group of countries that could effectively control export volume to keep their export prices, revenues,
and economic growth stable or high is known as a(n) _____.
a.
alliance
b.
joint venture
c.
export cartel
d.
embargo
e.
managed trade agreement - ANSWER-c.
export cartel
A specific tariff describes a tax on imports levied as a constant percentage of the monetary value of one
unit of the imported good.
a. True
b. False - ANSWER-b. False
According to Porter's "diamond" model, the success or competitive advantage of a nation at the global
stage depends upon the interaction of all of the following EXCEPT
a. demand conditions.
b. related and supporting industries.
c. firm strategy, structure, and rivalry.
d. a conservative political structure.
e. factor conditions. - ANSWER-d. a conservative political structure.
An agreement among WTO countries in which any tariff concession granted by one member to any
other country will automatically be extended to all other countries of WTO is called the _____ principle.
a.
absolute advantage
_____ refers to agreements, sometimes temporary, between countries (or a group of countries) that
aim at achieving certain trade outcomes.
a. Qualitative agreements
b. Managed trade agreements
c. Quantitative agreements
d. Voluntary export agreements
e. Domestic content provision agreements - ANSWER-b. Managed trade agreements
12. When was mercantilism practiced?
a.
1300-1400
b.
1500-1750
c.
1820-1875
d.
1900-1975
e.
1990-2010 - ANSWER-b.
1500-1750
7. Which of the following was NOT one of the top exporting nations in 2010?
a.
The United States
b.
South Korea
c.
Italy
d.
Australia
e.
, Global Business Chapter 2 Exam
Belgium - ANSWER-d.
Australia
A group of countries that could effectively control export volume to keep their export prices, revenues,
and economic growth stable or high is known as a(n) _____.
a.
alliance
b.
joint venture
c.
export cartel
d.
embargo
e.
managed trade agreement - ANSWER-c.
export cartel
A specific tariff describes a tax on imports levied as a constant percentage of the monetary value of one
unit of the imported good.
a. True
b. False - ANSWER-b. False
According to Porter's "diamond" model, the success or competitive advantage of a nation at the global
stage depends upon the interaction of all of the following EXCEPT
a. demand conditions.
b. related and supporting industries.
c. firm strategy, structure, and rivalry.
d. a conservative political structure.
e. factor conditions. - ANSWER-d. a conservative political structure.
An agreement among WTO countries in which any tariff concession granted by one member to any
other country will automatically be extended to all other countries of WTO is called the _____ principle.
a.
absolute advantage
