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  21) ________ effects of economic integration are the overall growth in the market and the impact on a company caused by expanding production and by the company's ability to achieve greater economies of scale. A) Dynamic B) Static C) Economic D) Barrier 22) Trade shifting to countries within a regional trade agreement at the expense.
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  1) ________ integration is the political and economic agreements among countries that give preference to member countries to the agreement. A) Global B) Economic C) Bilateral D) Regional 2) Country A and Country B make an agreement to cooperate more closely and implement tariff reductions. Which of the following best describes this agreement? A) double commodity.
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  91) Describe the different types of regional economic integration and give an example of each type. 92) Explain the static effects and dynamic effects of economic integration. What is the difference between trade creation and trade diversion resulting from economic integration?     .
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  31) Export restrictions have a tendency to ________. A) favor domestic consumers B) protect employment in the export-restricted industries C) lower prices in foreign markets D) encourage the domestic development of substitutes 32) All of the following are potential problems of using export controls EXCEPT which one? A) There is an incentive for other countries to.
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  41) Which of the following are members of NAFTA? A) the United States, Canada, and Mexico B) North America and Latin America C) the United Kingdom, the United States, and Canada D) the United States, Canada, and Brazil 42) NAFTA was primarily formed because the member nations have ________. A) static and dynamic liberalization policies B) similarly.
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  21) Which term refers to an industrialization policy of restricting imports in order to boost local production for local consumption of goods that would otherwise be imported? A) import substitution B) terms-of-trade C) most-favored nation D) in-sourcing 22) Export-led development refers to ________. A) a country's efforts to promote its exports in order to reduce its.
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  51) An import license is ________. A) an agreement whereby one country gives another country permission to use a patent that a company has registered there B) a requirement that exporters take merchandise in lieu of money as payment for their sales C) a requirement that permission be secured from governmental authorities before.
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  84) The most common type of tariff is the export tariff. 85) An effective tariff is the sum of the ad valorem tariff plus the specific duty. 86) Agricultural subsidies by developed countries impede the competitiveness of agricultural exports by developing countries. 87) When customs officials set a value on which to place.
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  64) The term protectionism, when applied to international trade, refers to governmental restrictions and incentives to affect trade flows. 65) In most cases, trade protectionism makes it easier for a company to buy what it needs and to sell products in global markets. 66) The group most likely to become involved in.
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  81) The four favorable domestic conditions of the diamond of national advantage help to explain how and where globally competitive companies develop and sustain themselves. 82) The existence of the four favorable conditions of the diamond of national advantage does not guarantee that an industry will develop in a given locale. 83).
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  41) Costa Rica applied the concepts of the diamond of national advantage theory to help transform its economy by ________. A) building domestic demand for its products and services B) looking globally to develop favorable conditions C) following import substitution policies D) concentrating on nontradable goods 42) Which of the following best supports a nation's.
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  31) According to the product life cycle theory, production and sales are primarily domestic in the introductory stage because ________. A) businesses need quick market feedback B) tariff reductions remain under negotiation C) companies lack sufficient production capacity D) international patents have not been approved 32) According to the PLC theory, at an early stage.
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  1) Trade protectionism will most likely affect which aspect of a company's operations? A) selecting employees B) meeting union demands C) acquiring foreign supplies D) relocating personnel overseas 2) The term protectionism when applied to international trade refers to ________. A) governmental restrictions and competitive support actions to affect trade flows B) payments to dock workers to.
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  41) The most common type of tariff is the ________ tariff. A) export B) import C) transit D) ad valorem 42) An import tariff may be protective ________. A) only if it is on imports the country produces domestically B) if it serves primarily to restrict entry of hazardous materials C) if it does not generate significant tax.
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  21) Countries with varied climates and varied natural resources generally ________ than countries with less varied climates and natural resources. A) have lower per capita incomes B) depend less heavily on trade C) have more ethnic subgroups D) have higher endowments of capital relative to labor 22) Countries with large land areas are generally less.
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  11) In foreign-exchange markets, reporting dealers ________. A) work extensively with non-financial institutions, such as the regional banks B) trade more foreign exchange with other reporting dealers than with any other category of users C) trade more currency with governments and corporations than with other reporting dealers D) are prohibited from trading currencies with.
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  61) Regional integration is better known as global integration through the World Trade Organization. 62) The European Union is an example of regional integration. 63) As companies expand internationally, they must change their organizational structure and operating strategies to take advantage of regional trading groups. 64) Most MNEs generate a majority of their.
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  11) As a leading exporter of luxury automobiles, Germany has built a strong reputation in engineering. Germany's trade most likely relies on a(n) ________. A) patented process B) natural advantage C) acquired advantage D) compared advantage 12) Assume the following conditions: In the United States it takes 5 units of resources to produce a ton.
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  51) Which of the following is the LEAST likely result of outward migration? A) Emigrants use remitted capital to start businesses in the home country. B) Workers develop trade specialties that are transferred overseas. C) Nations lose highly educated and productive workers. D) Countries receive remittances from emigrants. 52) Country X brings in a large.
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  51) An NGO is ________. A) an agency of the United Nations B) a private institution independent of a government C) any organization working on environmental issues D) an organization that is concerned only with workers' rights 52) Which of the following is most likely a true statement about the relationship between the United Nations.
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  11) Imports can stimulate exports by ________. A) redistributing the work force B) curtailing domestic competition C) generating more tax revenue D) increasing foreign income 12) All of the following are generally true about trade-displaced workers EXCEPT which one? A) They move into industries with substantial import protection. B) They earn less in their new jobs than.
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  1) Western Union's role in foreign exchange trading is best described as ________. A) setting a fair exchange rate in multiple currencies B) transferring currency from one country to another C) transferring Mexican pesos from the United States to Mexico D) handling all money transfers that occur North and South America 2) A major challenge.
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  74) Import substitution is a program promoting local production of products that would otherwise be imported. 75) Export-led development refers to the off-shoring of production. 76) The argument for using import controls to promote exports is partially premised on the assumption that other countries will remove their import restrictions as a result. 77).
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  100) Many companies and industries argue that they should have the same access to foreign markets as foreign industries and companies have to their markets. In a short essay, discuss this issue of "comparable access" or "fairness." 101) What are common reasons that governments enact export restrictions? What are the possible.
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  71) Static effects are the overall growth in the market and the impact on a company caused by expanding production and by the company's ability to achieve greater economies of scale. 72) The shifting of resources from inefficient to efficient companies as trade barriers fall produces static effects. 73) Trade creation allows.
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  11) Under the WTO agreement, ________. A) a dispute resolution mechanism allows countries to bring grievances to the WTO against countries that levy inappropriate trade discrimination measures B) there is no dispute resolution mechanism except for trade involving environmental products C) countries are allowed to place trade barriers on member countries with no.
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  71) Countries with large land areas are generally less dependent on trade than countries with small land areas. 72) The top 10 exporting countries are dominated by developing countries. 73) The factor proportions theory holds that countries should concentrate production on those products that use their most abundant production factors. 74) The factor.
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  61) Countries enact trade policies based on trade theories, which, in turn, affect companies' optimum production locations. 62) Understanding trade theories helps companies know if they will need to compete against goods and services produced abroad. 63) Under mercantilism, colonial powers sought to run trade surpluses with their colonies by preventing the.
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  103) Briefly discuss the four noneconomic rationales for governmental intervention in the free movement of trade: maintaining essential industries, preventing shipments to unfriendly countries, maintaining or extending spheres of influence, and preserving national identity.     .
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  31) The EU organization that ensures consistent interpretation and application of EU treaties is the ________. A) European Commission B) Council of Ministers C) Court of Justice D) Council of Treaties and Laws 32) Which of the following was primarily responsible for establishing the euro? A) Lisbon Treaty B) Treaty of Maastricht C) European Finance Act D) Single European.
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