FIU MAR4156 quiz 1

| August 13, 2017

Which of the following is a possible outcome of the “alien
status” of a company?

An increase in protectionist federal policies.

A positive
balance of trade.

A sharp rise
in domestic and international demand.

A huge trade

An economic
situation of the magnitude of the Great Depression.

Which of the following reflects the relationship between
international business and domestic business?

businesses find it relatively easy to manage profits in the current scenario.

businesses find it relatively easy to manage profits in the current scenario.

Most domestic
businesses are the result of customization efforts of international

The ability to invest abroad is to a large extent a
function of domestic economic vitality.

businesses are more viable as capital tends to move toward minimum use.

_____ is a controllable element in both domestic and
international marketing environments.


within the home country

Price of products



Which of the following firms has a better chance of
accelerating the internationalization process?

International regulatory bodies set export/import limits.

The importing country can levy heavier import tariffs to override the VERs.

The exporting country sets the limits on the quantity it will export.

It is a mandatory tax imposed by a government on goods entering at its

It is an absolute restriction against the importation of certain goods.

Question 5

The primary obstacles to success in international marketing are a person’s
_____ and an associated ethnocentrism.



self-reference criterion

effort at adaptation

effort at integration

Question 6

What is the most profound change for firms at the global marketing stage of

Planning involves production of goods outside the home market.

Sales to foreign markets are made as and when goods become available.

Temporary surpluses marketed in foreign markets is the only element of

Companies treat the world, along with home market, as one market.

Production capacity exceeds domestic demand.

Question 7

The firms at the stage of regular foreign marketing of international marketing

sell products that are a result of planned production in markets in various

primarily focus all their operations and production to service domestic
market needs.

have a global perspective and view the entire world as one market devoid of
any segments based on nationality.

have half their sales revenues coming from international markets.

have no intention of maintaining continuous market representation in foreign

Question 8

Which of the following is an uncontrollable element for an international

Firm characteristics




Level of technology

Which of the following is an essential requirement for companies
to succeed in international markets?

strictly to their traditional methods of operations to succeed in
international markets.

primarily on their production to meet the demands at home.

Venturing into
multiple markets at once.

Committing themselves completely to foreign markets.

Focusing on
improving the domestic market to invest the returns in international markets.

Question 10

_____ impedes the ability of a person to assess a foreign market in its true






0.5 points

Question 11

After World War II, the United States led efforts like the Marshall Plan to
assist in rebuilding Europe, financial and industrial development assistance to
rebuild Japan, and funds channeled to foster economic growth in the underdeveloped
world. These efforts were primarily aimed at:

halting the growth of Nazi Germany.

dampening the spread of communism.

dissolving the colonial powers.

building a stronger defense force.

creating a worldwide trade bloc to counter the OPEC countries’ clout.

Question 12

The Foreign Corrupt Practices Act (FCPA) is specifically addressed in the _____
section of the Omnibus Trade and Competitiveness act.

market access

export expansion

import relief

foreign exchange regulation

trade deficit

Question 13

Which of the following acronyms refers to the international forum that was
created for member countries to engage in the negotiation of tariffs and other
barriers to trade?






Question 14

Which section of the Omnibus Trade and Competitiveness Act recognizes that
foreign penetration of U.S. markets can cause serious competitive pressure,
loss of market share, and, occasionally, severe financial harm?

The market access section.

The export expansion section.

The import relief section.

The foreign exchange regulation section.

The trade deficit section.

Question 15

After World War II, the United States set out to infuse the ideal of capitalism
throughout as much of the world as possible. The _____, aimed at assisting in
rebuilding Europe, is the plan most closely associated with this endeavor.

Eisenhower Plan

Marshall Plan

Bradley Plan

Roosevelt Plan

Truman Plan


What was the outcome for the GATT after the ratification of the Uruguay Round

With the ratification of the Uruguay Round agreements, the GATT became part
of the World Trade Organization (WTO) in 1995, and its 117 original members
moved into a new era of free trade.

It became part of the World
Trade Organization.

It led to the uneven distribution of economic power and potential.

The European Union decided to stay away from the treaty.

The original purpose was sidelined in favor of political and military
intervention between member states.

Question 17

An agreement signed willingly between the importing country and the exporting
country for a restriction on the volume of exports is called a:

None of these.


voluntary export restraint.

special interests’ privilege.


Question 18

Randall Smithe-Jones believes that protectionism is the only way to save the
United Kingdom from outside competitors. He has seen small businesses go
bankrupt because cheaper foreign goods have been more popular. The cell-phone
manufacturing industry has just started in U.K and Smithe-Jones’ company is one
of the first to try its hand at cell-phone manufacturing. Which of the
following would probably be the argument that Smithe-Jones would use to
persuade his government representatives that protectionism is still needed in
the U.K.?

Protection of an infant industry.

The need to keep money at home.

Conservation of natural resources.

National defense.

Maintenance of standard of living.

Question 19

Which of the following types of nontariff barriers strictly falls under the
category of specific limitations on trade?

Import credit discriminations

Export subsidies

Voluntary export restraints


Packaging, labeling, or marking standards

Question 20

_____ and the World Bank Group are two global institutions created primarily to
assist nations in becoming and remaining economically viable.

The United Nations

The World Court

The International Monetary

The International Red Cross

The League of Nations

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