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Exam 3: Global Business

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Question 21

True/False

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A letter of credit is issued in favour of the importer.

A) True
B) False

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Question 22

Multiple Choice

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Globalisation represents a huge opportunity for

A) all countries-rich or poor.
B) the UK.
C) Japan.
D) China.
E) Asia.

F) A) and E)
G) None of the above

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Question 23

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Landing Service Landing Service is a lawn furniture company that has been around for many years.It is known for its ability to produce furniture more efficiently than any other company in the nation.In truth, no other companies in any other nation come close.Landing Service has shipped many of its products internationally.In fact, 80 percent of its profits come from international sales.However, the Italian government has imposed a tax on imported furniture items to protect local companies.The Brazilian government, on the other hand, has imposed taxes on Landing Service products due to the government wanting a piece of the pie. Landing Service initially thought that these taxes were unfair because it was being singled out.However, after Landing Service contacted the organisation that had the power to mediate this situation, the furniture company realised that the taxation it was subjected to was legal and that there was nothing it could do about it. -Refer to Landing Service.What type of tax has the Italian government imposed on the company?

Which of the following best defines balance of trade?

What are the Kennedy Round, the Tokyo Round, the Uruguay Round, and the Doha Round?

Critics of NAFTA maintain that is has resulted in job losses and has done nothing to help the environment.

When a country imports more than it exports, it has a(n)

Landing Service Landing Service is a lawn furniture company that has been around for many years.It is known for its ability to produce furniture more efficiently than any other company in the nation.In truth, no other companies in any other nation come close.Landing Service has shipped many of its products internationally.In fact, 80 percent of its profits come from international sales.However, the Italian government has imposed a tax on imported furniture items to protect local companies.The Brazilian government, on the other hand, has imposed taxes on Landing Service products due to the government wanting a piece of the pie. Landing Service initially thought that these taxes were unfair because it was being singled out.However, after Landing Service contacted the organisation that had the power to mediate this situation, the furniture company realised that the taxation it was subjected to was legal and that there was nothing it could do about it. -Refer to Landing Service.What type of tax has the Brazilian government imposed on the company?

A limit on the amount of a particular good that may be imported into a country during a given period of time is called an import quota.

Who are the members of NAFTA?

Due to worldwide trade restrictions, international business is declining in volume.

When Serena from the United States flies to Scotland on a Canadian airline, stays in an Edinburgh hotel, and buys many wool sweaters from Scotland to bring home, she is

The Association of Southeast Asian Nations

Alberto complained that it took some time to locate a distributor of an imported light bulb that he had to replace.He was further annoyed that he had to pay an artificially high price.When asked for his opinion, Alberto would probably argue

Which of the following represents the highest level of involvement in international business?

International business includes all business activities that involve exchanges across national boundaries.

When chain of organic coffee shops in Portland purchases coffee from Colombia, it

It is appropriate for a country to impose trade restrictions on exports that might endanger its national security.

Which of the following federal governmental agencies provides domestic and overseas commercial officers, country experts, and industry experts?

If the Republic of Trinidad and Tobago had total exports of $150 billion and total imports of $234 billion, the country had a