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Exam 3: Doing Business in Global Markets

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Question 1

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Labor unions and businesses in the heavy equipment industry have asked the U.S.Congress to place a tax on imported equipment in order to make it more expensive.They hope that this will allow U.S.producers to be more competitive.The U.S.heavy equipment industry appears to be seeking an) :

A) injunction.
B) revenue tariff.
C) nontariff barrier.
D) protective tariff.

E) A) and B)
F) B) and C)

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Question 2

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Competition in exporting is very intense.

A) True
B) False

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Question 3

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Absolute advantage is the basis for most global trade today.

Using contract manufacturing as a strategy to reach global markets offers firms the advantage of:

When Anheuser-Busch/In Bev sells Budweiser beer made in St.Louis,MO. ,to Germany,the sales of its product would be classified as a U.S.____________.

In any given year,the United States' cash outflow to other nations exceeds its cash inflow from other nations.

Which of the following sociocultural forces can have a significant impact on global business operations?

The U.S.government is reducing Export Assistance Centers due to businesses' lack of interest in their support.

The main goal of the General Agreement on Tariffs and Trade GATT)was to reduce trade restrictions among world nations.

Jake's family business sells and installs tile in bathrooms and kitchens.He is convinced that heater coils under bathroom floor tiles is the best thing since sliced bread.In his effort to avoid domestic competition,he sets his sights on the vast Chinese market.Much to his surprise,most Chinese people do not yet have indoor plumbing and are accustomed to government-run communal baths.Jake realized that his global marketing effort is hampered by:

Which of the following statements best describes the theory of comparative advantage?

Importing is the selling of products to another country.

When it comes to ethics,successful American businesspeople are encouraged to follow the policy of "when in Rome,do as the Romans."

The Nissan automobile assembly plant in Tennessee is an example of foreign direct investment in the United States.

Since patent and copyright laws are the same in all nations,they are not of much impact to firms that compete globally.

The __________ is the difference between money flowing into a country from exports,and money leaving the country for imports,plus money flows coming from other factors such as tourism,foreign aid,military expenditures,and foreign investment.

A country has an absolute advantage if it has a monopoly in the production of a specific product or is able to produce it more efficiently than all other nations.

McHugh Corporation of Ireland and Enomoto Enterprises based in Japan recently produced a new electric car with rechargeable batteries that can be driven at high speeds for long distances.They have shared the investment,each contributing important technological expertise to the effort.These firms entered into an) ____ to build this car.

Sociocultural,economic,and legal/regulatory hurdles cause significant challenges in global trade.

The three countries participating in NAFTA are: