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Exam 6: Business-Government Trade Relations

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Question 51

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Which of the following financial companies in the United States is involved in activities of selling of goods abroad,and offers insurance on foreign accounts receivable?

A) National Cooperative Bank
B) Overseas Private Investment Corporation
C) Export-Import Bank
D) Inter-American Development Bank

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Question 52

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The automobile industry is typically protected for national security reasons.

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Question 53

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The most common tariffs used today are the ________ tariffs.

When a company exports a product at a price that is lower than the price normally charged in its domestic market or lower than the cost of production,it is said to be ________.

Describe the three categories of tariffs,and explain how the Smoot-Hawley Act of 1930 influenced tariffs in the United States.

Scenario: Not-So-Free Freeland Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy.The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition. -Which of the following motives illustrates Freeland's efforts to protect local jobs?

The Uruguay Round of Negotiations created the TRIPS Agreement to ________.

The pattern of imports and exports that would result in lesser trade barriers is called free trade.

Which of the following is true regarding the protection of infant industries from international competition?

The most common economic reason for nations attempts to influence international trade is preserving national security.

Scenario: Excelsior's Limited Excelsior's Limited,a manufacturer of health and beauty aids,is expanding its presence in several countries around the world.Excelsior's president is surprised at some of the responses the company is receiving from other countries. -France gave Excelsior's Limited permission to export its product as long as the company obtained a special license first.Excelsior has been waiting six months for the license and is wondering if it will ever arrive.Excelsior's Limited is experiencing a(n) ________.

Which of the following countries is seen as a threat to national cultures around the world?

Scenario: Not-So-Free Freeland Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy.The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition. -Freeland's protection of its national identity is an example of a(n) ________.

A lower tariff rate for a certain quantity of imports and a higher rate for quantities that exceed the quota is called a(n) ________.

Which of the following statements is true of tariffs?

Customs duties decrease the total amount of a good's production cost.

Which of the following industries is typically protected for national security reasons?

A voluntary export restraint refers to a quota that a nation imposes on its exports,usually at the request of another nation.

Scenario: Not-So-Free Freeland Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy.The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition. -Freeland's efforts to provide opportunities to its emerging industries is an example of its ________.

Which of the following is a political motive behind a government's intervention in trade?