Question 1

One way around having your intellectual property (such as software)  copied because of easy access is to sell:

Accepted Answer

A)  demos.
B)  to new markets.
C)  to governments.
D)  subscriptions or membership
E)  only to a chosen few.F) B) and E)
G) C) and D)

Question 2

Triad regions of the world include:

Accepted Answer

A)  North America, Western Europe and Africa
B)  North America, Western Europe and Japan
C)  North America, Western Europe and Asia
D)  North America, Western Europe and South America
E)  North America, Western Europe and ChinaF) B) and C)
G) A) and B)

Question 3

The World Trade Organization's (WTO)  ninth round of trade talks which were launched in November 2001 were called:

Accepted Answer

A)  the Doha Round.
B)  the Seattle Round.
C)  the Geneva Round
D)  the New York Round.
E)  the London Round.F) A) and E)
G) A) and D)

Question 4

The new European currency, the euro, began its circulation in January ________.

Accepted Answer

A)  1998
B)  1999
C)  2000
D)  2001
E)  2002F) C) and D)
G) None of the above

Question 5

One of the differences between WTO and GATT is that WTO's dispute settlement mechanism is:

Accepted Answer

A)  inferior.
B)  faster and more automatic.
C)  very limited.
D)  controlled by the World Bank.
E)  controlled by the negotiation section of the United Nations.F) C) and D)
G) B) and D) B

Question 6

An example of a free trade area would be:

Accepted Answer

A)  the European Union.
B)  the Soviet Union.
C)  the United Kingdom.
D)  NAFTA
E)  the United Nations.F) B) and D)
G) A) and D) D

Question 7

The Chinese government provides financial support and credit support to enterprises going abroad.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is an example of an international trading bloc?

Accepted Answer

A)  The World Trade Organization.
B)  GATT
C)  The World Court in The Hague.
D)  NAFTA
E)  The United NationsF) D) and E)
G) B) and E)

Question 9

In most of the years since 2011, world trade has grown at half the normal rate relative to world GDP.

Accepted Answer

A) True 
 B)False

Question 10

The sovereignty of _______________ will perhaps continue to weaken due to multinationals and the increasing integration of economies.

Accepted Answer

A)  cities
B)  nations
C)  regions
D)  trading blocs
E)  None of the aboveF) C) and D)
G) A) and B)

Question 11

The world's largest exporting country is China.

Accepted Answer

A) True 
 B)False

Question 12

FDI is shifting from developed countries to developing countries.

Accepted Answer

A) True 
 B)False

Question 13

____________________ are highly interested in putting strong international intellectual property laws in place:

Accepted Answer

A)  Developing nations
B)  Developed nations
C)  Asian countries
D)  European countries
E)  African countriesF) B) and C)
G) B) and E)

Question 14

In 2018, according to the World Economic Forum's Global Competitiveness Report, five of the top 10 countries are Asian countries.

Accepted Answer

A) True 
 B)False

Question 15

One consequence of fungible content, information products, and electronic networks is an additional assault on the power of national governments to regulate international commerce.

Accepted Answer

A) True 
 B)False  True

Question 16

Globalization has helped improve the economies of emerging and developing countries more than those of developed countries.

Accepted Answer

A) True 
 B)False

Question 17

__________ which means investment in manufacturing and service facilities in a foreign country with an intention to engage actively in managing them

Accepted Answer

A)  Outsourcing
B)  Offshoring
C)  Foreign direct investment
D)  Having a foreign subsidiaryE) None of the above
F) C) and D)

Question 18

The World Trade Organization (WTO)  was created in the _____________ of GATT talks---called the Uruguay Round.

Accepted Answer

A)  fifth round
B)  sixth round
C)  seventh round
D)  eighth round
E)  ninth roundF) B) and E)
G) A) and D)

Question 19

A ________________ eliminates all tariffs and barriers to trade among members, adopts a common set of external tariffs on nonmembers, and removes all restrictions on the flow of capital and labor among member nations.

Accepted Answer

A)  regional market
B)  common market
C)  monetary market
D)  political market
E)  customs marketF) C) and D)
G) All of the above

Question 20

BEMs stand for:

Accepted Answer

A)  Big Electronic Markets
B)  Big Efficient Market
C)  Big Effective Markets
D)  Big Emerging Markets
E)  None of the aboveF) A) and B)
G) A) and C)

Exam 2: Economic Environment

One way around having your intellectual property (such as software) copied because of easy access is to sell:

Correct AnswerverifiedShow Answer

Triad regions of the world include:

Correct AnswerverifiedShow Answer

The World Trade Organization's (WTO) ninth round of trade talks which were launched in November 2001 were called:

Correct AnswerverifiedShow Answer

The new European currency, the euro, began its circulation in January ________.

Correct AnswerverifiedShow Answer

One of the differences between WTO and GATT is that WTO's dispute settlement mechanism is:

Correct AnswerverifiedB

An example of a free trade area would be:

Correct AnswerverifiedD

The Chinese government provides financial support and credit support to enterprises going abroad.

Correct AnswerverifiedShow Answer

Which of the following is an example of an international trading bloc?

Correct AnswerverifiedShow Answer

In most of the years since 2011, world trade has grown at half the normal rate relative to world GDP.

Correct AnswerverifiedShow Answer

The sovereignty of _______________ will perhaps continue to weaken due to multinationals and the increasing integration of economies.

Correct AnswerverifiedShow Answer

The world's largest exporting country is China.

Correct AnswerverifiedShow Answer

FDI is shifting from developed countries to developing countries.

Correct AnswerverifiedShow Answer

____________________ are highly interested in putting strong international intellectual property laws in place:

Correct AnswerverifiedShow Answer

In 2018, according to the World Economic Forum's Global Competitiveness Report, five of the top 10 countries are Asian countries.

Correct AnswerverifiedShow Answer

One consequence of fungible content, information products, and electronic networks is an additional assault on the power of national governments to regulate international commerce.

Correct AnswerverifiedTrue

Globalization has helped improve the economies of emerging and developing countries more than those of developed countries.

Correct AnswerverifiedShow Answer

__________ which means investment in manufacturing and service facilities in a foreign country with an intention to engage actively in managing them

Correct AnswerverifiedShow Answer

The World Trade Organization (WTO) was created in the _____________ of GATT talks---called the Uruguay Round.

Correct AnswerverifiedShow Answer

A ________________ eliminates all tariffs and barriers to trade among members, adopts a common set of external tariffs on nonmembers, and removes all restrictions on the flow of capital and labor among member nations.

Correct AnswerverifiedShow Answer

BEMs stand for:

Correct AnswerverifiedShow Answer

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