Global Business Test Bank Questions
Study online at https://quizlet.com/_5ihxpc
1. True/False
2. The World Trade organization was formed in 1995, True
with the General Agreement on Trade and Tariffs
(GATT) as its basis.
3. It's the government generally, but in a few occasions True
an individual firm can also fight anti-dumping directly
with WTO.
4. As per TRIPS, a patent would be applicable for 20 years. True
5. The WTO agreement allows government to act against True
dumping, when there is genuine injury to the compet-
ing domestic industry.
6. The company exporting a product with a price, which True
is lower than the price at which the same product is
sold in its country of origin, is called dumping.
7. Quantitative restrictions are imposed by countries pri- True
marily to limit imports.
8. Bound rates are maximum tariffs imposed by the True
member countries of WTO.
9. The main function of WTO is to ensure trade flows as True
smoothly, predictably and freely as possible.
10. As per product life cycle theory, during the product True
cycle an exporter country of a particular product can
become an importer country after some time for the
same product from another location.
1/6
, Global Business Test Bank Questions
Study online at https://quizlet.com/_5ihxpc
11. Multiple Choice
12. Removal of QRs means b
(a) Duty-free imports
(b) An item can be imported without import license or
quotas
(c) All imports are free of tariffs
(d) None of the above.
13. The following agreement( s)/ act( s) by WTO address( a
es) the issue of
environmental protection to certain extent.
(a) Sanitary and phytosanitary measures
(b) Anti-dumping agreement (c) Trade-related intellec-
tual property rights
(d) None of the above
14. The theory of Mercantilism propagates b
(a) Encourage exports and imports
(b) Encourage exports and discourage imports
(c) Discourage exports and imports
(d) Discourage exports and encourage imports
15. An attribute that doesn't contribute to Porter's Dia- d
mond Model is
(a) government
(b) demand conditions
(c) factor conditions
(d) organized trade union
16. Which theory postulates that countries will export b
those goods that make intensive use of factors that are
locally abundant, while import goods that make use of
2/6
Study online at https://quizlet.com/_5ihxpc
1. True/False
2. The World Trade organization was formed in 1995, True
with the General Agreement on Trade and Tariffs
(GATT) as its basis.
3. It's the government generally, but in a few occasions True
an individual firm can also fight anti-dumping directly
with WTO.
4. As per TRIPS, a patent would be applicable for 20 years. True
5. The WTO agreement allows government to act against True
dumping, when there is genuine injury to the compet-
ing domestic industry.
6. The company exporting a product with a price, which True
is lower than the price at which the same product is
sold in its country of origin, is called dumping.
7. Quantitative restrictions are imposed by countries pri- True
marily to limit imports.
8. Bound rates are maximum tariffs imposed by the True
member countries of WTO.
9. The main function of WTO is to ensure trade flows as True
smoothly, predictably and freely as possible.
10. As per product life cycle theory, during the product True
cycle an exporter country of a particular product can
become an importer country after some time for the
same product from another location.
1/6
, Global Business Test Bank Questions
Study online at https://quizlet.com/_5ihxpc
11. Multiple Choice
12. Removal of QRs means b
(a) Duty-free imports
(b) An item can be imported without import license or
quotas
(c) All imports are free of tariffs
(d) None of the above.
13. The following agreement( s)/ act( s) by WTO address( a
es) the issue of
environmental protection to certain extent.
(a) Sanitary and phytosanitary measures
(b) Anti-dumping agreement (c) Trade-related intellec-
tual property rights
(d) None of the above
14. The theory of Mercantilism propagates b
(a) Encourage exports and imports
(b) Encourage exports and discourage imports
(c) Discourage exports and imports
(d) Discourage exports and encourage imports
15. An attribute that doesn't contribute to Porter's Dia- d
mond Model is
(a) government
(b) demand conditions
(c) factor conditions
(d) organized trade union
16. Which theory postulates that countries will export b
those goods that make intensive use of factors that are
locally abundant, while import goods that make use of
2/6
