国际市场营销学 （原书第18版）测试题及答案Chapter 2 The Dynamic Environment of International Trade

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InternationalMarketing,18e(Cateora)

Chapter2TheDynamicEnvironmentofInternationalTrade

1)TheMarshallPlanwasdevelopedbytheUnitedStatesasamethodtoassistEuropeinrebuildingafterWorldWarII.

2)TheGATTbecamepartoftheWorldTradeOrganizationin1995withtheratificationoftheUruguayRoundagreements.

3)TheUnitedStatesfaceddecreasingcompetitioninexportmarketsbeginningin1970withtheendingoftheVietnamWar.

4)Bytheyear1971,theUnitedStateswassellinglesstoothercountriesthanitboughtfromthem;thatis,theUnitedStateshadatradedeficit.

5)TheOrganizationforEconomicCooperationandDevelopment(OECD)estimatesthattheeconomiesofthedevelopedworldwillexpandatmuchfasterrateswhencomparedtothedevelopingeconomies.

6)Anation'sbalance-of-paymentsstatementrecordsallfinancialtransactionsbetweenitsresidentsandthoseoftherestoftheworldduringagivenperiodoftime.

7)Inabalance-of-paymentsrecord,thecurrentaccountisarecordofdirectinvestment,portfolioinvestment,andshort-termcapitalmovementstoandfromcountries.

8)Whenreviewingabalance-of-paymentsstatement,youwouldcheckthereservesaccounttoviewexportsandimportsofgold.

9)Whenforeigncurrenciescanbetradedformoredollars,U.S.productsandcompaniesaremoreexpensivefortheforeigncustomerandexportsdecrease.

10)EstablishingatariffonfabricsimportedfromUruguaysothatU.S.manufacturerssellmorefabricsisanexampleofaprotectionistmeasure.

11)Ingeneral,economistsdonotrecognize"protectionofthehomemarket"asavalidargumentforprotectionistmeasures.

12)Quotas,boycotts,monetarybarriers,andmarketbarriersareexamplesoftariffbarriers.

13)Ingeneral,atariffwilldecreaseinflationarypressures.

14)Tariffsareoftenusedasreprisalsagainstprotectionistmovesoftradingpartners.

15)TheUnitedStateshasplacedalimitonthetonsofsugarthatcanbeimportedintothecountry.Thisisanexampleofatariff.

16)Animportlicenselimitsthequantitiesthatcanbeimportedonacase-by-casebasis.

17)Voluntaryexportrestraintsarecommonintheagriculturalindustrywhenanagreementismadebetweentheimportingandexportingcountriesforarestrictiononthevolumeofexports.

18)Anembargosetsalimitonthequantityofgoodsonecountrycanselltoanother.

19)Inthecontextofblockedcurrency,blockageisaccomplishedbyrefusingtoallowanimportertoexchangeitsnationalcurrencyforthecurrencyoftheseller.

20)Itismandatoryforimporterswhowanttobuyaforeigngoodfromaforeigncountrytoapplyforabusinesspermitinthatcountry.

21)Anexchangepermitissuedbyagovernmentcanstipulateanunfavorablerateofexchangedependingonthedesiresofthegovernment.

22)TheUnitedStatesandothercountriesrequiresomeproductstocontainapercentageof"localcontent"togainadmissiontotheirmarkets.

23)Antidumpinglawsencourageforeignproducerstoselltheirproductsatahighercostthanthecostofproductionandcreatemoreopportunitiesforfreetrade.

24)TheOmnibusTradeandCompetitivenessActof1988focusesonassistingbusinessestobemorecompetitiveinworldmarkets,butdoesnotgetinvolvedintradepractices.

25)UndertheOmnibusTradeandCompetitivenessAct,theU.S.presidenthastheauthoritytorestrictsalesofacountry'sproductsintheU.S.marketifthatcountryimposesunfairrestrictionsonU.S.products.

26)OneadvantageoftheOmnibusTradeandCompetitivenessActisamoreflexibleprocesstoobtainexportlicenses.

27)TheGATTpanelswereformedtoresolvebilateraltradedisputesandhavebothadvisoryandenforcementpowers.

28)ThedecisionstakenbytheWorldTradeOrganizationinsolvingtradedisputesamongmembersarebindingones.

29)TheInternationalMonetaryFundwascreatedbeforeWorldWarIItohelpindividualstatesregaineconomicprofitability.

30)Asbothspecialdrawingrights(SDRs)andtheU.S.dollarhavelosttheirutilityasthebasicmediumoffinancialexchange,mostmonetarystatisticsrelatetogoldandsilverratherthandollars.

31)AfterWorldWarII,theUnitedStatesledeffortstoprovidefinancialandindustrialdevelopmentassistancetorebuildJapanandchanneledfundstofostereconomicgrowthintheunderdevelopedworld.Theseeffortswereprimarilyaimedat

A)haltingthegrowthofNaziGermany.

B)dampeningthespreadofcommunism.

C)dampeningthespreadofcapitalism.

D)buildingastrongerdefenseforce.

E)creatingaworldwidetradebloctocountertheOPECcountries'clout.

32)AfterWorldWarII,theUnitedStatessetouttoinfusetheidealofcapitalismthroughoutasmuchoftheworldaspossible.Asaresult,mostofthenoncommunisteconomiesintheworld

A)stagnated.

B)grewsignificantly.

C)failed.

D)quicklymatchedtheU.S.economy.

E)facedhighinflationrates.

33)WhatwasthemostapparentreciprocalimpactoftheforeigneconomicassistancegivenbytheUnitedStatesfollowingWorldWarII?

A)EuropeancountriesformedanalliancetocountertheOPECcountries'clout.

B)Outflowoflabortotherecipientcountriesincreaseddramatically.

C)AllrecipientcountriesappointedAmericanstomanagetheircentralbanks.

D)PurchasesofU.S.agriculturalproducts,manufacturedgoods,andservicesbytherecipientcountriesincreased.

E)Distributionofeconomicpowerandpotentialbecamemoreuneven.

34)WhatfactorwasprimarilyresponsiblefortheexcessinproductioncapacityintheUnitedStatesafterWorldWarII?

A)TheUnitedStatesgovernmentraisedthetariffsonmostimportsby60%.

B)ManyfirmsfromothernationsshiftedtheirproductionfacilitiestotheUnitedStates.

C)Domesticdemandwasatahistoriclowandresultedinexcesscapacity.

D)ThereturningmilitaryafterWorldWarIIincreasedthelaborsupplyintheUnitedStates.

E)TheimplementationoftheMarshallPlandampenedtheoverseasdemand.

35)HowdidGATTpreventtherepeatoftheeconomicdisasterthatoccurredafterWorldWarI?

A)Itprovidedshort-termloanstostrugglingnations.

B)Itpromoteddumpingpoliciestoallowstrongertiesbetweenmembernations.

C)Itfosteredisolationismfornationsthatweremarketleaders.

D)Itprovidedforathirdparty,theUnitedNations,tonegotiatepeacetreaties.

E)Itprovidedaforumformembercountriestonegotiateareductionoftariffsandotherbarrierstotrade.

36)WhydidtheSmoot-HawleyActplayaroleinsendingtheworld'seconomiesintotheGreatDepression?

A)Itencouragedthemajorityofworldeconomiestolowertariffstoimportedgoods.

B)ItraisedU.S.tariffsonthousandsofimportedgoodsbymorethan60percent.

C)Itcreatedanembargoonallagriculturalproducts.

D)ItdividedtheUnitedStatesintofactionsbasedonrace.

E)Itforcedindependentcountriestobandtogethertostayeconomicallyviable.

37)WhatwastheoutcomeforGATTaftertheratificationoftheUruguayRoundagreements?

A)GATTallowedtheUnitedStatestoincreaseitsimporttax.

B)GATTbecamepartoftheWorldTradeOrganization.

C)GATTdirectlyledtotheunevendistributionofeconomicpowerandpotential.

D)TheEuropeanUniondecidedtostayawayfromthetreaty.

E)Theoriginalpurposewassidelinedinfavorofpoliticalandmilitaryinterventionbetweenmemberstates.

38)Therapidgrowthofwar-torneconomiesandpreviouslyunderdevelopedcountries,coupledwithlarge-scaleeconomiccooperationandassistancethatfollowedWorldWarII,ledto

A)theriseofnewglobalmarketingopportunities.

B)thedecreaseindemandforAmericangoodsworldwide.

C)thedissolutionofGATT.

D)thespreadofcommunismbytheUnitedStates.

E)thesharpreductionintheproductioncapacityoftheUnitedStates.

39)WhichwerethetwomajorchallengesfacedbyU.S.multinationalcorporationsatthecloseofthe1960s?

A)thecreationoftheSovietUnionandthehighertariffsonimports

B)growingjingoisticnationalismandanegativepopulationgrowthrateinmajorinternationalmarkets

C)resistancetodirectinvestmentandincreasingcompetitioninexportmarkets

D)increasingChinesedominationinthemanufacturingsectorandthefallingdollaringlobalmarkets

E)thedecreaseddemandforU.S.goodsintheglobalmarketandthegrowinginfluenceofconsumerrightsadvocacyinthehomemarket

40)Post-WorldWarII,worldwideeconomicgrowthwasinstrongevidenceandcountriesthatwereonceclassifiedaslessdevelopedwerereclassifiedas

A)communistcountries.

B)freetradeeconomies.

C)tier-IIcountries.

D)developedcountries.

E)newlyindustrializedcountries.

41)Whichstatementpresentsthecorrectpictureoftheoutcomeofincreasedworldtradeafterthe1950s,contrarytoServan-Schreiber'sprediction?

A)ThirdWorldcountrieshavebeenexcludedfromthiseconomicgrowthleadingtostarkimbalancesinwealth.

B)TheEuropeanUnionhasbecomethecenterofworldtrade,takingthepositionawayfromtheUnitedStates.

C)TheUnitedStateshascontinuouslymaintainedthepositivebalanceoftradeitattainedduringthe1950s.

D)Economicpowerandpotentialhasbecomemoreevenlydistributedamongthecountriesoftheworld.

E)SDRsandgoldhavelosttheirutilityasthebasicmediumoffinancialexchangeandmostmonetarystatisticshavestartedrelatingtotheU.S.dollar.

42)WhatisthemajorreasonbehindthefailureofAmericanMNCstocompletelydominatetheEuropeanmarketsaspredictedbyServan-Schreiber?

A)TheresurgenceofcompetitionforU.S.businessesfromallovertheworld

B)TheeliminationofimporttaxesintheEuropeancountries

C)TherestructuringofU.Sindustries

D)Thedecadenceofcommunism

E)Thedissolutionofcolonialpowers

43)WhatstrategywasemployedbytheUnitedStatestoregainitslostmarketshareforcapitalgoodsbythelate1990s?

A)fundingthecompetitivedevelopingnations

B)restructuringitsindustriestobemore"leanandmean"

C)decreasingitsexportsandincreasingitsimports

D)raisingaverageU.S.tariffsonmorethan20,000importedgoodsby60percent

E)provokingincreasedprotectionismfromothercountries

44)FollowingWorldWarII,itisnotedthattheWestcreatedthetradepatterns.Thiswasespeciallytrueinwhichoneofthefollowing?

A)NorthAmerica

B)Europe

C)SouthAmerica

D)Asia

E)CentralAmerica

45)Inthelastfewyears,mostofthecountriesoftheworldsawadramaticslowdowninthegrowthoftheireconomieswiththeexceptionof

A)theUnitedStates.

B)Spain.

C)China.

D)Greece.

E)France.

46)TheWorldBankestimatesthatfivecountrieswhoseshareofworldtradeisbarelyone-thirdthatoftheEuropeanUnionwill,by2020,havea50percenthighersharethanthatoftheEuropeanUnion.Whichofthesecountriesisincludedonthislist?

A)Canada

B)Nigeria

C)Netherlands

D)Indonesia

E)Zimbabwe

47)Thesystemofaccountsthatrecordsanation'sinternationalfinancialtransactionsismostaccuratelycalledits

A)supplychainmanagementsystem.

B)grossdomesticproductsystem.

C)netdomesticproductpayments.

D)balanceofpayments.

E)netnationalproductsystems.

48)Whatisusedtoensurethatbalance-of-paymentsrecordsarealwaysinbalance?

A)sumofsquaresrecordingsystem

B)bankreconciliationsystem

C)double-entrybookkeepingsystem

D)archivalrecordssystem

E)multifactorrecordingsystem

49)Abalance-of-paymentsstatementforacountryreveals

A)howrichorpooracountryisfinancially.

B)arecordofthecountry'sfinancialcondition.

C)acomparisonofonecountry'sfinancestoanothercountry'sdebt.

D)abalancedbudgetforthecountry.

E)thespendingpoweravailabletothecountryforspecificgoods.

50)Whatisadefiningcharacteristicofabalance-of-paymentsstatement?

A)Itisarecordofthedomestictransactionsbetweenthegovernmentofacountryandtheprivatecompaniesinthatcountry.

B)Itrecordsallfinancialtransactionsbetweentheresidentsofacountryandthoseoftherestoftheworld.

C)ItrecordsthetradepoliciesofthemembernationsoftheWTO.

D)Itisanannualrecordoftheprofitableforeigntransactionsmadebyaparticularcountry.

E)Itisafinancialstatementinwhichthecreditsmustexceedthedebits.

51)WhichofthefollowingfallsontheplussideoftheU.S.balanceofpayments?

A)paymentstotheUnitedStatesforinsurance

B)thecostsofgoodsimported

C)spendingbyAmericantouristsoverseas

D)newoverseasinvestments

E)thecostofforeignmilitary

52)WhichofthefollowingfallsontheminussideoftheU.S.balanceofpayments?

A)paymentstotheUnitedStatesforinsurance

B)paymentsofdividendsandinterestoninvestmentsabroad

C)returnoncapitalinvestedabroad

D)newforeigninvestmentsintheUnitedStates

E)spendingbyAmericantouristsoverseas

53)Whatoccursinthebalanceofpaymentsaccountwheninternationalpaymentsaregreaterthanreceipts?

A)atariff

B)inflation

C)recession

D)acredit

E)adeficit

54)The________accountofthebalance-of-paymentsstatementisusedtorecordallmerchandiseexports,imports,andservicesplusunilateraltransfersoffunds.

A)current

B)capital

C)credit

D)receivables

E)reserves

55)Whichaccountinthebalance-of-paymentsstatementisarecordofdirectinvestment,portfolioinvestment,andshort-termmovementofcashandtechnologytoandfromcountries?

A)currentaccount

B)capitalaccount

C)creditaccount

D)receivablesaccount

E)reservesaccount

56)The________ofthebalance-of-paymentsstatementisusedtorecordincreasesordecreasesinforeignexchangeandincreasesordecreasesinliabilitiestoforeigncentralbanks.

A)currentaccount

B)capitalaccount

C)creditaccount

D)receivablesaccount

E)reservesaccount

57)Whatargumentregardingtheneedforprotectionismisrecognizedbyeconomistsasvalid?

A)needtokeepmoneyathome

B)encouragementofcapitalaccumulation

C)industrializationofalow-wagenation

D)conservationofnaturalresources

E)maintenanceofemploymentandreductionofunemployment

58)Rishi,aprotectionist,hasseenseveralsmallbusinessesgobankruptbecausetheywereunabletocompetewiththecheaperpricesofgoodsprovidedbyforeigncompanies.Thecell-phonemanufacturingindustryhasjuststartedintheUnitedKingdom,andRishi'scompanyisoneofthefirsttotryitshandatcell-phonemanufacturing.WhatargumentismostlikelytobeusedbyRishitopersuadehisgovernmenttorestricttheimportofforeigncellphonesfromforeigncompanies?

A)protectionofaninfantindustry

B)theneedtokeepmoneyathome

C)conservationofnaturalresources

D)nationaldefense

E)maintenanceofstandardofliving

59)Whatisatariff?

A)Itisataxleviedbyagovernmentongoodsbeingexportedoutofthecountry.

B)Itisataxpaidbyindividualstatestothefederalgovernmentforgoodstransferredacrossstatelines.

C)Itisataximposedbyagovernmentongoodsthatareimportedintothecountry.

D)Itisalimitontheamountofgoodsthatcanbeimportedintothecountry.

E)Itisalimitontheamountofgoodsthatcanbeexportedoutofthecountry.

60)Ingeneral,tariffsweaken

A)inflationarypressures.

B)specialinterests'privileges.

C)balance-of-paymentspositions.

D)governmentcontrolineconomicmatters.

E)thenumberofreciprocaltariffsbyothercountries.

61)Whichstatementistrueoftariffs?

A)Theystrengthenbalance-of-paymentspositions.

B)Theystrengthensupply-and-demandpatterns.

C)Theyincreasespecialinterests'privileges.

D)Theystrengtheninternationalrelations.

E)Theypromotecompetition.

62)Thetariffoncertaingoodsisbasedonthepercentageofthedeterminedvalueoftheitembeingimported.Whattypeoftariffisthis?

A)compoundduty

B)quotaduty

C)specificduty

D)reciprocalduty

E)advaloremduty

63)Aspecificunitordollarlimitappliedtoaparticulartypeofgoodiscalleda(n)

A)tradelicense.

B)quota.

C)advaloremduty.

D)predatoryprice.

E)exchangerate.

64)AboycottonimportingproducefromMexicowouldbeanexampleofa

A)compoundduty.

B)revenuetariff.

C)nontariffbarrier.

D)specificduty.

E)quotaembargo.

65)Ifacountryrefusestosellsomeproductstoanothercountry,itisutilizingwhichbarriertotrade?

A)importcreditdiscriminations

B)exportsubsidies

C)voluntaryexportrestraints

D)embargoes

E)packaging,labeling,ormarkingstandards

66)Ifacountrydecidedtorefusetoallowanimportertoexchangeitsnationalcurrencyforthesellers'currency,itwouldbeanexampleofa(n)________currency.

A)blocked

B)spot

C)embargo

D)taxed

E)quota

67)Exportingcountriesprimarilyagreetovoluntaryexportrestraints(VERs)to

A)minimizeexposureintheimportingcountry.

B)reducemarketcompetitiveness.

C)avoidstifferquotasbeingsetbytheimportingcountry.

D)takeoverlocalindustriesoftheimportingcountry.

E)avoidcriminalprosecution.

68)Avoluntaryexportrestraintisanagreementsignedwillinglybetweentheimportingcountryandtheexportingcountryforarestrictiononthe

A)overalltax.

B)numberofbusinesseseligibleforimports.

C)volumeofexports.

D)government'sportionofthepaidtariff.

E)balance-of-paymentsstatements.

69)Voluntaryexportrestraintsarecommonlyusedinwhatindustry?

A)finance

B)furniture

C)agriculture

D)media

E)education

70)ThemarketingmanagerforGloriousProductswantstoexportthecompany'slineoffashionbootstoanEUcountry.However,shediscoversthatthereisacompleterestrictionontheimportofanyformofleatherintothatcountry.Thisisanexampleof

A)anorderlymarketagreement.

B)aquota.

C)amonetarybarrier.

D)avoluntaryexportrestraint.

E)aboycott.

71)Onecountryrefusestosellgoodstoitsneighboringcountrybasedonthebeliefthattheneighboringcountryharborsradicalsandterrorists.Inthiscase,therefusalisreferredtoasa(n)

A)antidumpingpenalty.

B)embargo.

C)monetarybarrier.

D)orderlymarketagreement.

E)voluntaryexportrestraint.

72)Inthecontextofmonetarybarriers,blockageisideallyaccomplishedwhen

A)acountryrefusestoallowanimportertoexchangeitsnationalcurrencyforthecountry'scurrency.

B)twocountriesenterintoavoluntaryagreementtodeterminethevalueoftheircurrencies.

C)acountryappliesaspecificunitordollarlimittoaparticulartypeofgood.

D)moneydealerslimittherateatwhichforeigncurrenciesareexchanged.

E)thegovernmentofacountryimposesamandatorytaxongoodsenteringatitsborders.

73)Inordertoeffectivelysecureforeignexchange,whatismostlikelytobeusedbycountriesexperiencingsevereshortagesofforeignexchange?

A)privatization

B)governmentapproval

C)spotpricing

D)voluntaryexportrestriction

E)monopoly

74)Whattradepolicytoolmakesitmandatoryforitsimporterswhowanttobuyaforeigngoodtoapplyforanexchangepermit?

A)tariff

B)importquota

C)blockedcurrency

D)governmentapproval

E)exportlevy

75)Anexchangepermitcanstipulatethe

A)quantityofgoodsthatcanbeexchangedforaparticularsumofforeigncurrency.

B)numberofpartiesthatcanbeinvolvedinanexchangetransaction.

C)amounttobeexchangedthatmustbedepositedinalocalbankforasetperiod.

D)qualitystandardsofthegoodsinvolvedinanexchange.

E)numberoftimesonepartycanavailexchangepermits.

76)ActiveBicycleCompanyhasjustreceivednoticethatashipmentof300bicycleshasbeenrejectedbythecustomsadministrationoftherecipientcountrybecausethebikesdidnotincludeametalplatesurroundingthechain.Whatcategoryofnontariffbarriersprimarilyusessuchqualityissuesasatradebarrier?

A)quotas

B)licenses

C)embargoes

D)boycotts

E)standards

77)TheUnitedStatesandothercountriesrequiresomeproducts(automobilesinparticular)tocontainapercentageof"localcontent"togainadmissiontotheirmarkets.Thisisanexampleofthestringentusageof________torestricttrade.

A)exchangepermits

B)embargoes

C)blockedcurrencies

D)standards

E)antidumpingpenalties

78)________pricingisthepracticewherebyaforeignproducerintentionallysellsitsproductsintheUnitedStatesforlessthanthecostofproductiontounderminethecompetitionandtakecontrolofthemarket.

A)Basingpoint

B)Spot

C)Defensive

D)Counterpoint

E)Predatory

79)________is/areanontariffbarrierthatwasspecificallydesignedtopreventforeignproducersfromusingpredatorypricingtotakecontrolofU.S.markets.

A)Quotas

B)Embargoes

C)Blockedcurrency

D)Antidumpinglaws

E)Exchangepermits

80)WhichtradingpartneroftheUnitedStatesbecameitsnumberone"tradeproblem"atthebeginningofthe21stcentury?

A)UnitedKingdom

B)Japan

C)Germany

D)Canada

E)China

81)Whatlegislativedecisionwasdesignedtoprimarilydealwithtradedeficits,protectionism,andtheoverallfairnessofU.S.tradingpartners?

A)theNeutralityPactof1941

B)theOmnibusTradeandCompetitivenessActof1988

C)theLeagueofNationsActof1920

D)theHawley-SmootTariffActof1930

E)theInternationalMonetaryFundandBankActof1945

82)WhatwastheimpetusfortheOmnibusTradeandCompetitivenessAct?

A)MarketsintheU.S.wereopentomostoftheworldbutmarketsinEuropeandmanyAsiancountrieswererelativelyclosed.

B)TheU.S.marketwasrelativelyclosedtotherestoftheworld.

C)MarketsintheU.S.werebeingdrivenbyforeigndemand.

D)ThetradevolumeintheU.S.wasdeclining.

E)MarketsintheU.S.weretradingwithpartnersbasedonhowtheyhopedtheywouldrespondratherthanhowtheyactuallyoperated.

83)TheForeignCorruptPracticesAct(FCPA)wasspecificallyaddressedinthe________sectionoftheOmnibusTradeandCompetitivenessAct.

A)marketaccess

B)exportexpansion

C)importrelief

D)foreignexchangeregulation

E)tradedeficit

84)WhichsectionoftheOmnibusTradeandCompetitivenessActrecognizesthatforeignpenetrationofU.S.marketscancauseseriouscompetitivepressure,lossofmarketshare,andpossiblyseverefinancialharm?

A)themarketaccesssection

B)theexportexpansionsection

C)theimportreliefsection

D)theforeignexchangeregulationsection

E)thetradedeficitsection

85)Whatisoneofthefourongoingactivitiesthatsupportthegrowthofinternationaltrade?

A)WarsawPact

B)KyotoProtocol

C)InternationalMonetaryFund

D)WorldSummitonSustainableDevelopment

E)TreatyofWaitangi

86)WhichstatementsaccuratelydescribestheGeneralAgreementonTariffsandTrade(GATT)?

A)TheUnitedStates,theUnitedKingdom,andGermanyweretheonlysignatoriesoftheoriginalGATT.

B)Theoriginalagreementprovidedaprocesstoincreasethetariffsontradegoods.

C)GATTmembernationsseektoresolvetheirtradedisputesunilaterally.

D)TheGATTpanelshaveenforcementpowersapartfromadvisorypowers.

E)Itcreatedanagencytoserveaswatchdogoverworldtrade.

87)WhatdoesGATTuseastheprimarymethodtosolveglobaltradeproblems?

A)GATTworkswithgovernmentagenciesoftrademembers.

B)GATTusescoercion.

C)GATTusesconsultation.

D)GATTimplementsthelegislativeagendaoftrademembers.

E)GATTcreatesbindingagreementsbetweenmembernations.

88)WhatagreementmakesitpossibletochallengetherestrictionsinIndonesiathatprohibitforeignfirmsfromopeningtheirownwholesaleorretaildistributionchannels?

A)Trade-RelatedAspectsofIntellectualPropertyRights(TRIPs)

B)Trade-RelatedInvestmentMeasures(TRIMs)

C)GeneralAgreementonTradeinServices(GATS)

D)MarrakeshAgreement

E)StockholmAgreement

89)TheUruguayRoundresultedinwhichinstitutionbecomingthesuccessortotheGATT?

A)InternationalMonetaryFund

B)WorldBank

C)EuropeanServicesForum

D)WorldTradeOrganization

E)AssociationofSoutheastAsianNations

90)HowareWTOdecisionsenforced?

A)AllWTOdecisionsareenforceableunderlaw.

B)MembernationspayadutytojoinWTOandthiscreatesnaturalcompliance.

C)TheWorldCourtreviewsandenforcesallWTOdecisions.

D)InternationalpressuretocomplywithWTOdecisionsisexpectedtoforcecompliance.

E)DecisionsmustpassthroughbothhousesofCongresstobeenforced.

91)__________arebecomingapopularwaytocircumventWTOguidelinesandimposenewduties.

A)Antidumpingduties

B)Basicexciseduties

C)Specialexciseduties

D)Productiontaxes

E)Manufacturingtaxes

92)SeveralnationsthathavebecomefrustratedwiththeslowprogressofthemostrecentroundofWTOtradenegotiationsare

A)negotiatingbilateraltradeagreements.

B)formingarivalorganization.

C)refusingtoacceptalltherulesandregulationsimposedbytheWTO.

D)usinglegalmeanstosuetheWTO.

E)optingoutofmembershipintheWTO.

93)_________andtheWorldBankGrouparetwoglobalinstitutionscreatedprimarilytoassistnationsinbecomingandremainingeconomicallyviable.

A)AmnestyInternational

B)TheWorldCourt

C)TheInternationalMonetaryFund

D)TheInternationalRedCross

E)TheInternationalFederationofBlueCross

94)WhatmarketbarriersledtothecreationoftheInternationalMonetaryFund?

A)tradeembargoes

B)inflationandrecessioninEurope

C)newtaxingbodiesgoverningtrade

D)inadequatemonetaryreservesandunstablecurrencies

E)exportquotasandhighertariffs

95)DevelopedbytheInternationalMonetaryFundtocopewithuniversallyfloatingexchangerates,________representanaveragebaseofvaluederivedfromthevalueofagroupofmajorcurrencies.

A)exchangepermits

B)specialdrawingrights

C)floatingcurrencies

D)goldrates

E)dollarparities

96)Thespecialdrawingrights(SDRs)developedbytheIMFcanbethoughtofas

A)blackgold.

B)exchangepermits.

C)floatingcurrencies.

D)papergold.

E)virtualdollars.

97)Whatisabasiccriticismofglobalfinancialinstitutions?

A)Theyfailedtofocusontheaimofreducinginequalitiesbetweenrichandpoorcountries.

B)TheyfailedtohelptheAsiancountriessubstantiallywhentheyunderwentamajorfinancialcrisisinthe1990s.

C)Theyfailedtorespecttheautonomyofmembernationsbydeeminganybilateralagreementsbetweenmembersasillegalifmadewithouttheirapproval.

D)Theyfailedtoforeseeandcountertheunintendedeffectsofglobalizationlikepollution,exploitation,andculturalextinction.

E)Theyfailedto