In the article “Pirates of the Caribbean”, Hollywood is abuzz with reports that two locations may begin operating their own national versions of the Pirate Bay, where individuals can cheaply, or even freely, download the latest films and TV shows. Which two locations was this article concerned with?

a) China and Cuba
b) Japan and Monaco
c) France and Russia
d) Antigua and Barbuda

d) Antigua and Barbuda

Trying to stop a surge of chicken imports into Germany, the European
Common Market bowed to the European poultry lobby and almost tripled the tariff on frozen chicken from the United States. Washington, of course, struck back.To target Germany, the Johnson administration imposed a 25 percent tariff on what imports?

a) light-trucks
b) chicken
c)beef
d)sedans
e) textiles

a) light-trucks

Which country is expected to have the highest spike in technological spending in the next 10 years?

a. United States
b. China
c. Japan
d. India
e. Italy 

d. India

The purpose of NAFTA is to eliminate barriers for trade in which of these countries?

a. United States and Canada
b. Canada, United States, and Mexico
c. Mexico and United States
d. All of North and South America
e. All countries of the world.

b. Canada, United States, and Mexico

How did the United States retaliate against the Dutch and French for the 1961 Chicken Tax?

A) Raised taxes on cheese imports

B) Required pasturization of all dairy products

C) Raised taxes on Brandy ro retaliate against france and Dextrine to hurt the Dutch

D) Cut off all imported beef from these countries

E) Raised taxes on Wine and Cheese imports from Europe

According to "A Chicken in Every Garage", what is one unintended consequence of US reliance on SUVs? 

A)SUVs have higher emmissions, resulting in a faster rate of global warming

B) European governments have helped car companies with subsidies, making them more competitive than American companies.

C)Recent Rising gas prices have caused a drop in popularity for SUVs

D)Foreign car makers have taken stronger holds on the small car market

E)Japan has raised tarrifs on American SUVs

What is the growing industry in Japan?

a)Sushi

b) Fish

c) Rice

d) Cars

e) Electronics

What are non-tariff barriers baszed on?

a) income

b) Medical concerns

c) Population

d) exports

e) embargos

What does ECOWAS stand for?

A. Economic Community Of West African States

B. Economic Council of West African Societies

C. Environmental coalition of West African States

D. Economic coalition of Western American States

E. Environmental society of Western American States

Which two countries won a WTO ruling against the United States in 2007 arguing that U.S. laws violated the trade in services provisions of the WTO?

A. Trinidad and Venezuela

B. Antigua and Barbuda

C. Venezuela and Iran

D. North Korea and Lebanon

E. Antigua and Haiti

WTO _______

a) deals with the global rules of trade between nations

b) General Agreement on Tariffs and Trade

c) a customs union comprising the South America countries 

d) It created a free trade area of 1.6 billion

e) an agreement reached on 6 January 2004 

The OIL crisis was in

a) 1980

b) 1960

c) 1990 

d) 2000

e)1970

_________ invented America’s urban-truck market in the late 1960s and 1970s

a) Japanese

b) Chinese

c) American

d) German

e) Korean

MERCOSUR is ________

a) is an economic and political agreement among Argentina, Brazil, Paraguay, Uruguay, and Venezuela

b) is an agreement signed by Canada, Mexico, and the United States

c) is a geo-political and economic organization of ten countries 

d) is a regional group of sixteen countries, founded in 1975

e) is a customs union which consists of all the member states of the European Union

The economic organization composed of ten asian countries including Indonesia and Thailand  is referred to as ____. 

a. ASIAN

b. SWANC

c. ASEAN

d. OCEAN

e. ASEAC

Currency that is generally accepted world-wide over weaker forms of currency is referred to as____ currency. 

a. Strong

b. Soft

c. Hard

d. Stable

e. Dominant

NAFTA stands for?

a. North African Fair Trade Agreement

b. New Atlantaic Free Trade Assessment. 

c. North American Free Trade Agreement

d. North Atlantic Fair Trade Assessment

e. North American Fair Trade Agreeement

What is a problem with exports being better than imports?

a. There are countries trying to prevent imports.

b. Nothing, it's acceptable worldwide. 

c. It's too expensive. 

d. Most countries don't export. 

e. Neglecting jobs.

A problem that can arise from implementing tariffs is?

a) Retaliation

b) Too much power for the black market

c) Going broke

d) Losing a market to a competitor

e) B and D

NAFTA is an acronym for what?

a) North African Free Trade Agreement

b) North Atlantic Free Trade Association

c) North American Free Trade Agreement

d) North Arabia Free Trade Association

e) North American Free Trade Association

Which of the following is an example of a quota?

a) US restricting Frane from exporting cheese.

b) Diamond companies control the set amount of diamonds allowed in the market

c) India not accepingt hard currency, but will only trade in rupees.

d) NAFTA and EU, are both examples of quotas

e) Labels must be placed on GM products in the EU.

Which of the following is most accurate regarding hte WTO?

a) the WTO's job is to raise tarrifs

b) To create a serious trade court

c) to take advantage of smaller countries

d) to let countries retaliate against each other

e) the WTO's job is to keep the peace across all nations.

Cuba has an embargo on____?

a)cigars

b)boats

c)cars

d)planes

e)coffee

_____ lead to small industries

a)exports

b)trade

c)imports

d)tariffs

e)quotas

What was the purpose for the World Trade Organization?

A)    To promote international trade and economic development by reducing tariffs and other restrictions

B)     To imply trade barriers between two countries

C)    To stop World Trade completely

D)    To promote advertising agencies that want to stop world trade organizations

E)     To reduce the number of people who make foreign investments and trade illegally

                        is the largest free-market democracy in the world.

A)     China

B)      Taiwan

C)      Japan

D)     South Korea

E)    India

Which of the following is an example of trade protectionism for health reasons?

A. The United States banning meat from the United Kingdom

B. The United Kingdom having high taxes

C. African nations having subsidies

D. Japan having tariffs on their vehicles

E. China having affordable rice

Which of the following is a Non-Tariff barrier?

A. Embargos

B. Subsidies

C. Labeling restriction

D. Quotas

E. Dumping

1.which of the following is most likely illegal?

a. dumping

b. tariffs

c.embargos

D. quotas

e. orderly market restrictions

what is the definition of an embargo?

A. A prohibition by a government on certain or all trade with a foreign nation.

b. A list or system of duties imposed by a government on imported or exported goods.

c.To place (goods or stock, for example) on the market in large quantities and at a low price

d.The business of buying and selling commodities

e.A mutual or cooperative interchange of favors or privileges, especially the exchange of rights or privileges of trade between nations.

What is one of the main means of protectionism?

A. To keep other countries out

B. Based on health concerns

C. Protectionism is no longer used

D. To make life easier

E. To protect the government from foreign influences

What has India done to protect infant industries?

A. Export more goods

B. Import less goods

C. Prevent used car imports

D. Encourage used car imports

E. India hasn't done anything to protect infant industries

Which is NOT a goal of trade protectionism?

A) Growing favored industries

B) Safeguarding public health and safety

C) Keeping restive population quiet

D) Creating and protecting local employment

E) Protecting local ecosystems

From the reading A Chicken in Every Garage, how did Japan get around the US's tariff on importing trucks and SUV's?

A) Importing the cabins and beds separately and putting them together in the US

B) Sending finished trucks and SUV's to China then shipping to the US from there

C) Japan paid the tariff causing the trucks and SUV's to cost more

D) Opened manufacturing plants along the US Pacific coast where they would fully make just trucks and SUV's

E) Japan exported the trucks and SUV's to Canada and brought them into the US via the boarder with Canada 

Whats an example of a non-tariff barrier?

a. US making France pasteurize their cheese

b. India not allowing foreign used cars into country

c. US banning meat from Europe

d. Honduras importing bras from China and re-exporting them

e. US banning Canadian made drugs

Unlike GATT,______ decisions can only be  overturned by consensus and not by veto.

a. FDA

b. NAFTA

c. WTO

d. MFN

e. ESPN

Why is India preventing used car imports?

A. To help protect infant industries

B. to help older industries

C.to save the car exports

D.to bring more money into India

E. To create a car market in India

Who is the Main User of Orderly Market Restrictions?

A. China

B. Japan 

C. North Korrea

D. US

E. South Korea

In class we discussed dumping, what was a reason that companies do this?

A. Put other companies out of business

B. Get rid of old products for the greatest profit

C. Move parts of the business overseas 

D. Make better business connections

E. Get rid of all their old electronics 

What is an embargo?

A. Prevent all exports

B. Tax on imports

C. Prevent all imports

D. Stop movement of jobs overseas

E. Allows more free trade

When exchange controls happened in India?

a. 1950-1960's

b. 1960-1970's

c. 1970-1980's

d. 1980-1990's

e. 1990-2000's

What is the example of protecting Infant industries?

a. India preventing used car imports

b. Japan and rice

c. US protecting local employment

d.China and the focus on growth at any cost

e. US banning meat from UK

What is a tarrif?

a. tax on exports
b. tax on imports
c. exports - imports
d. a tax break
e. a limit on the number of exports

Which is an example of an embargo?

a. China allows only 12 international films
b. US sets high standards on imports
c. America does not allow any trade with Cuba
d. China can only import in one small port
e. Japan protects its rice industry 

In Asia and Africa, there are huge lots filled with what?

a.) brand new cars

b.) broken cars

c.) planes

d.) trains

e.) used cars

Which U.S. State grows rice?

a.) Georgia

B.) Kansas 

c.) Oklahoma

d.) Texas

e.) Louisiana

In class we talked about free trade areas, which of the following allows money, labor and goods to cross borders?

a. NAFTA

b. MERCOSUR

c. ECOWAS

d. ASEAN

e. EEC

What is it called when a company sells a product below the level of service it took to create the product?

a. dumping

b. subsidy

c. retaliation risk

d. countervailing

e. power play

Companies such as Samsung and Lenovo, who compete by becoming large and developing their R&D, are said to be using what type of strategy? 

a. Contender

b. Extender

c. Dodger

d. Defender

e. Expander

What are the two forms of exporting?

a. outside/ inside

b. direct/ indirect

c. expedited/ delayed

d. FIFO/ LIFO

e. marketed/ unmarketed

What city held almost 90 percent of the pick-up trucks, minivans, and S.U.V market in the 1990's?

a. Montreal, Quebec
b. Detroit, Michigan
c. Beijing, China
d. Dublin, Ireland
e. Taipei, Taiwan

In market reward the higher the risk the...

A higher probability of bankrupcty

B lower the reward

C higher the reward

D the higher is the trade between two countries

E the lower is the trade between two countries

The country’s largest private cellular services operator, Bharti Airtel, which bought the operations of Zain telecom in 16 African countries, has outsourced its IT network in ______

a) Africa

b) Europe

c) United States

d) Asia

e) Australia

which country has the number 1 market for heavy trucks by vehicles sold?

a. united states

b. mexico

c. japan

d. india 

e. china

who is china's largest maker of heavy-duty trucks?

a. fengond

b.dongfeng

c. motorolla

d. dingo

e. dingdong

Because of what issue Huawei telecomunications was not allowed to sell to the United States:

A. National security

B ideology

C. They went bankrupt

D. The language barrier

E. Because of U.N. law

Which of these businesses are considered Chaebols in korea:

A. Samsung

B.Mitsubishi

C. Sinopec

D. Bimbo

E. Starbucks

A company engages in ______ when it exports through intermediaries located in domestic markets.

a. indirect exporting

b. franchising

c. direct exporting

d. licensing 

e. contract manufacturing

A _______ involves two or more firms in which each partner contributes a particular skill or resource - usually complementary - to a venture.

a. strategic alliance

b. joint venture

c. acquisition

d. wholly owned subsidiary

e. export consortium

According to "Taiwan's HTC to sell smartphones in Myanmar", what is something that HTC is doing to attract the new market in Myanmar?

A) New commercials tailored to the local population

B) Free downloads with the purchase of a new phone

C) An input system that includes Burmese characters in the smartphones

D) Discounted data plans

E) Different phone designs to 

What is one factor influencing Myanmar's mobile phone boom according to Taiwan's HTC to sell smartphones in myanmar?

A) More licenses are about to be granted for telecom operators

B) A more efficient logistical system

C) Myanmar is lowering telecommunication tarrifs

D) The people of Myanmar have grown tired of unreliable landlines

E) Myanmar is experiencing a population boom

Which of the following is NOT an ownership strategy for foreign production?

A) Contract Manufacturing

B) Joint Venture

C) Strategic Alliance 

D) Partnership

E) Licensing/Franchising

From the reading Truck Maker Volvo Sets Alliance to Enter China, China allows foreign companies access to their growing consumer market if...

A) China can easily reproduce the product themselves

B) Joint ventures are created with domestic companies and share technology

C) Foreign companies allow domestic companies to decide how to produce the product

D) The foreign company relocates its headquarters to China to boost Chinese exports

E) China allows anyone to access any of their markets

Mayanmar has the lowest mobile penetration rate in ____

a) Asia

b) Africa

c) Europe

d) United States

e) Australia

1. What company is entering the Myanmar’s telecommunication market?
1. Apple
2. HTC
3. Samsung
4. Droid
5. Google

2. What percentage of Myanmar’s population currently using mobile phones?
1. 75%
2. 50%
3. 10%
4. 5%
5. 25%

Local companies will use the contender strategy to compete.  What is the contender strategy?

a) Use local knowledge to defend market.

b) Don't compete with the global market and just focus on the local market.

C) Compete by becoming large and developing R&D.

d)What works in local can also work abroad.

e) Fight all of your competitors till the company is the last one standing.

In the video China or Bust, one of the most important and difficult things to do is?

a) Get a car to travel around China with.

b) Find a place to stay that is safe.

c) Find a good place to eat.

d) Get paid after completing a deal.

e) Leave the country.

A company engages in ______________ when its exports directly to customers or solely through intermediaries located in foreign markets.

A)    Domestic Trade

B)     Export Contracting

C)    Outsourcing

D)    Direct Exporting

E)     Indirect Exporting

Under a joint venture arrangement, the foreign company invites an outside partner to share ___________ in the new unit.

A)    Stock ownership

B)     Bond ownership

C)    Business ownership

D)    Home ownership

E)     Investment ownership

Which is a reason HTC decided to sell smartphones in Myanmar?

A. To increase their export

B. To decrease their business in Taiwan

C. Help drive the companies' growth in the medium term.

D. change their business

E. prove themselves to competitors

What is one problem with selling HTC smartphones in Myanmar?

A. poor reception

B. The lack of Taiwan's support

C. There are no foreign investors

D. The high price of SIM cards

E. Fear of competition

If I bring an Outback Steakhouse to Milledgeville, that is _____ but Outback Steakhouse is a _______.

A.) Licensing and Franchising

B.) Franchising and Licensing

C.) Partnership and Franchising

D.) Licensing and Joint Venture

E.) Wholly Own and Franchising

When negotiating in another country, what are two things you need to understand to negotiate properly?

A.) Product and Market Strategy

B.) Negotiator's Language and Product

C.) Negotiator's Language and Country's Business Culture

D.) Country's Business Culture and Market Strategy

E.) Consumer Behavior and Negotiator's Language

Which of the following is not a local company strategy?

a)Dodger 

b)Contender

c) Extender

d) Pretender

e) Defender

Which of the following motivations of a host country includes concern of sovereignty and restricted markets?

a) National Security

b) Prospertiy

c) Ideology

d) Self Preservation

e) Prestige

Which is an example of a state-owned enterprise?

A. Honda

B. Mitsubishi

C. Sinopec

D. Nissan

E. Toyota

When entering a foreign market, if you do full production, what should you expect?

A. High risk, high reward

B. Low risk, low reward

C. High risk, low reward

D. Low risk, high reward

E. You should avoid entering foreign markets

Which compnay is not chaebols in Korea?

a. Samsung

b. LG

c. Mitsubishi

d. SK

e. Hyundai

What is definition of defender strategy?

a. Use local knowledge to defend market

b. What works in local can also work abroad

c. Compete by becoming large and developing R&D

d. Firms that don't compete with global companies

e. Total control of complete business- downstream and upstream

If you are in a foreign county and someone orders you a meal you should___ it out of politeness?

a)Push it to the side

b)Eat it or drink it

c)Throw it on the floor

d)Get up and leave

e)Tell the person who ordered it " you ordered it, you eat it!"

In the class discussion after the movie we came to agreement that____ would be most helpfull doing business in a foreign country?

a)The competition

b)a map

c)A computer

d)A calculator

e)A translator

Which country protects their cultural identity by resisting foreign brand names?

a. China

b. England

c. India

d. Germany

e. France

_____ Group moves its employees around every 5 years to different departments with the idea that the employee will eventually have the skills to become a CEO.

a. Birla

b. Tata

c. Keiretsu

d. Sinopec

e. Chaebols

What is the defend strategy?

a) use local knowledge to defend market

b) what works in local can also work abroad

c) firms that do not compete with global companies

d) use global knowledge to defend market

e) firms that always compete with global companies

Who has the number one market for heavy trucks by vehicles sold?

a) North Korea

b) North America

c) Europe

d) China

e) India

According to the article “IBM follows Airtel in African telecom safari,” how will IBM their IT network help Africa?

a. It will pave the way to cheaper calling rates, thus spreading communication technology in Africa.
b. It will not help Africa. Its just cheaper for IBM.
c. It allows everyone in Africa to have network access.
d. It will increase customer relationships in Africa.
e. It will have negative affects on all stakeholders.

Which of the following is a self-preservation motivation technique?

a. Exports
b. Resisting foreign brand names
c. Restricted markets
d. Government subsidies
e. Protecting cultural content in movies

The biggest migration of all mankind happened in which country?

a.) France

b.) United States

c.) China

d.) Morocco

e.) Brazil

Accoring to the "China or Bust" video, doing business in China is like doing business in the _____ ?

a.) Deep South

b.) Middle of a war

c.) Wild Wild West

d.) Desert

e.) Tundra

What is the result of risk versus reward regarding exporting?

A. Low risk results in no reward

B. High risk results in low reward

C. Low risk results in low reward

D. High risk results in high reward

E. There is no result regarding exporting.

What is another word for self-reliance with promoting ideology?

A. Juche

B. Sinopec

C. Reliability

D. Chaebol

E. Keiretsu 

What is an example of self-preservation? 

A. U.S. allowing freedom of speech

B. France exporting wine

C. China manufacturing goods for other nations

D. China not allowing Facebook

E. Japan importing goods

What does "juche" mean in South Korean? 

A. Protect

B. Hands-off

C. Trade

D. Self-reliance 

E. Freedom

What is the biggest issue when introducing a new product idea in China?

a. The idea is rejected because it doesn't meet up to Chinese standards.

b. Due to slack copywrite laws, prodcut ideas are easily stolen.

c. The product idea is too advanced.

d. The Chinese aren't open to new ideas.

e. The product idea is too simple.

Why is Facebook banned in China?

a. It's a risk to National Security

b. To keep verbal communication alive.

c. It threatens self-preservation.

d. Social networking is viewed as inappropriate.

e. China doesn't want to pay for it.

In the video "China or Bust" which city does Tony move to because it is a location known for textile prodeuciton in hopes of opening a cushion factory?

a)Tokyo

b) Sydney

c)Linping

d)Hong Kong

e)Shundu

In the video "China or Bust" Peter goes to China in hopes of making $500 million by selling energy saving devices for what?

a)electriciy 

b)hotel lighting

c)kitchens

d)air conditioning

e)computers

In recent years,  stands out as the country that has done the most to keep its
currency weak in order to boost exports

a. The United States

b. France

c. Australia

d. China

e. Japan

d. China

In recent times, foreign-exchange incontinence appears to have been the policy of

choice in capitals from Beijing to Washington, via Tokyo. The resulting mess has led

to warnings of a global "                   " that could spiral into protectionism.

a. Depression

b. Currency War

c. Cold War

d. Economic Crisis

e. Develepmental Stunt

______ is the legitimate minimizing of taxes, using methods approved by the IRS.

a. tax avoidance

b. hedging

c. tax evasion

d. value-added tax

e. sin tax

_____ is a profit allocation method used to attribute a corporation's net profit or loss before tax to tax jurisdictions.

a. tax avoidance

b. tax evasion

c. transfer pricing

d. tax treaty

e. money laundering

 Why does the goverment not make minimum wage $100,000?

A. Inflation would cause the supply of money to increase. 

B. The demand for money would decrease because of inflation.

C. The goverment doesn't want the population to become wealthy.

D. Our National Debt would increase. 

E. The value of money would increase.  

How much a country makes on exporting and spends importing is an example of a/an

A. Transactions account

B. Current expense

C. Captial account

D. Current account

E. Transactions expense

According to the WSJ article about currency war, a global "currency war" could spiral into ________?

a) Protectionism

b) Communism

c) Depression

d) Recession

e) prosperity

According to the WSJ article about currency war, The euro zone has had minimal monetary stimulus resulting in what?

a) a weak currency

b) a receding economy

c) a contracting economy and a rising currency

d) a weak currency and a receding economy

e) a strong currency and a receding economy

Why do governments want a weak currency for their country?

a) they can import more

b) they can purchase more goods for their country

c) other countries will by their exports

d) less reason for war

e) no other country wil ask for exports

What are the effects of running currency deficit?

a) strong domestic currency from exports

b) weak domestic currency from exports

c) weak domestic currency from imports

d) strong domestic currency from imports

e) high demand for domestic currency

Governments prefer - 

a.) soft currency

b.) hard currency

c.) split currency

d.) double currency

e.) liquid currency

Which country runs a currency surplus?

a.) Russia

b.) India

c.) China

d.) Japan

e.) France

Which company was most effective in  reducing its oversea tax bill?

a. Apple

b. Google

c. IBM

D. Oracle

e. Microsoft

Google has built a complicated international structure that sends most of its overseas profits to the tax haven of what country? and why?

a. Bermuda because they have low corporate tax income.

b. India because they have no corporate tax income.

c. Bermuda because they have no corporate tax income.

d. India becase they have low corporate tax income.

e. the united states because that is their favorite.

which of the following elements affects currency exchange rates:

a) free trade

B) government policies

c) gold rates

d) imports and exports

e) central bank

how much is china currency surplus at the end of each fiscal year?

a)$125 billion

b)$145 billion

c )$ 80 billion

d) $135 billion

e)$200 billion

b)$145 billion

In _____, currency wars have been a stable of modern finance ever since the collapse of the Bretteon Woods system of fixed exchange rates.

a) 1950s

b) 1960s

c) 1970s

d)1980s

e)1990s

In recent years, _____ stands out as the country that has done the most to keep its currency weak in order to boost exports.

a) Spain

b) Japan

c) Portugal

d) Italy

e) China

What affects currency exchange rates?

A. Government elections

B. Imbalance in BOP

C. National disaster 

D. National holidays

E. When new consumer products are introduced into the market 

Under which type of currency do imports become more difficult?

A. Soft

B. Yen

C. Surplus 

D. Weak

E. Deficit 

Central banks use sterilization to...

A.) neutralize foreign exchange operations impact on domestic money supply

B.) to offset potential consequences of large capital flows

C.) rid major capital flows to lower maintain the inflation rate

D.) neutralize foreign exchange operations impact on domestic money supply and to offset potential consequences of large capital flows

E.) destroy money after the its flow is over

What is tax-based?

A.) The amount of interest for a loan

B.) Amount of profit a country taxes

C.) Standard of which interest is charged for a loan

D.) Amount of tax accumulated in a year

E.) The amount of interest a country taxes

Why Does the government want to have a weaker currency?

A. Imports are harder

B. Imports are easier

C.Exports become easier

D. Exports are harder

E. Imports equal Exports

What does imbalance of payments lead to?

A. Strong Currency

B. Currency Problems

C. More hard currency

D. Weaker currency

E. More shared currency

Why Does the government want to have a weaker currency?

A. Imports are harder

B. Imports are easier

C.Exports become easier

D. Exports are harder

E. Imports equal Exports

What does imbalance of payments lead to?

A. Strong Currency

B. Currency Problems

C. More hard currency

D. Weaker currency

E. More shared currency

Tax avoidancve means___ while tax evasion means______?

A)Legal and illegal

B)foreign and domestic

C)conservative and liberal

D)common and uncommon

E)religious and nonreligious

What country recently eliminated the penny?

A)Europe

B)France

C)Japan

D)Canada

E) United States

What is the difference between soft and hard currency?

A. Soft currency is in a bank account and hard currency is cash

B. Soft currency is cash and hard currency is in a bank account

C. Soft currency is accepted wordwide while hard currency isn't

D. Soft currency is not excepted worldwide and hard currency is

E. Soft currency is paper money and hard currency is coins

Which is the major way that companies can move currency outside a country withcurrency restrictions?

A. Money Laundering

B. Transfer Pricing

C. Money Running

D. Profit Splitting

E. Money Transfers

What is the core to Ireland's 'brand' as an investment location?

a)Corporate Tax Rate of 12.5%

b) The hospitality

c) They return 90% of your taxes

d) Irish Stew

e) Patent Box

China runs a currency surplus of how much?

a) $2 billion

b) $155 billion

c) $185 billion

d) $145 billion

e) $100 billion

What do tax authories demand when dealing with transfer pricing?

A. Demand arms length transactions

B. Do not demand anything

C. There is a small demand for price allocation

D. An increase in the tax rate

E. A decrease in the tax rate

What is the result of treasury bonds being greater than Chinese bonds?

A. There is no result

B. Tresury bonds are actually less than Chinese bonds right now

C. Means China is subsidizing its exports

D. Means China is subsidizing its imports

E. Treasury bonds are equal to Chines bonds right now

In video, which country holds largest amount of american dollars in the world?

a. China

b. Japan

c. South Korea

d. Mexico

e. Canada

Which one is not currency exchange rates affected by

a. Imports/ Exports

b. Inflation rate

c. Investors and Speculators

d. Government actions

e. Hawala

Which of the following is not considered a hard currency?

a) US dollar

b) Euro

c) Pound

d) Peso

e) Yen

Which of the following does not affect the current exchange rate?

a) imports/exports

b) inflation rate

c) investors and speculators

d) standard of living

e) government actions

How does a country spend more than it takes in?

a. barrows

b. imports more

c. exports more

d. mutual funds

e. print more money

Governments prefer _______ currency?

a. strong

b. same

c. no

d. weak

e. surplus

What would be a benefit of a golbal currency?

a. increase in exchange rate charges

b. ease of payments worldwide

c. a recession

d. trade defecit

e. the money supply will fluctuate

According to Dr. Poddar, the difference between tax aviodance and tax evasion is/are ________.

a. harmonious current accounts

b. an increase in loans

c. creativity

d. cleverness

e. imagination

What is not an example of hard currency?

A. U.S Dollar

B. Chinese Yuan

C. English Pound

D. Euro

E. Japanese Yen

______ does not affect the exchange rate of a currency?

A. Inflation Rate

B. Imports/Exports

C. Amount of Offshore Banking

D. Investors/Spectators

E. Government Actions

Which of the following is not a task related to logistics management?

a. transportation management

b. inventory control

c. container design

d. materials handling and warehousing

e. fixed-facilities location management

________ is the collective managerial behavior and decisions essential to the development of a functioning global supply chain.

a. global logistics

b. transportation management

c. inventory control

d. global supply chain management

e. order processing

In Rough Cut, who is protecting the process and procedure of the diamond industry?

A.) Government officials

B.) Military

C.) Oil industry

D.) Major jewelry corporations

E.) Society of brokers and middlemen

What is the 4th fastest growing city in the world according to "rough cut"

A. Atlanta

B. Bangkok

C. toronto

D. Surat

E. bogota

what were people secretly transporting on the Gujarat Mail (red-eye train)?

A. drugs

B. Diamonds

C. People

D. dogs

E. gold

What is the benefit of going directly to the wholesaler? 

A. Inventory Financing

B. buildings to hold inventory

C. Wholesaler has relationships with retailers

D. Easier Transactions

E. easier shipping

What is a problem with distribution logistics in developed countries?

A. Harder communication 

B. Difficult travel

C. Unaware of customs

D. High competition

E. Locked up channels are common

Who is the third leading user of diamonds?

A.) India

B.) United States

C.) China

D.) Great Britian

E.) South Africa

The chart containing various shipping and insurance responsibilities is referred to as the ____ terms. 

a. ASEAN

b. FOB

c. INCO

d. INIT

e. UNST

Pertaining to the chart mentioned in the previous question, what method of shipping places all responsibility for charges and fees to the seller?

a. DDP

b. CDC

c. FOS

d. LLC

e DDK

According the article, Rough Cut, illicitly mined stones that fund conflicts in the world's war zones are called

A. undocumented diamonds

B. rough diamonds

C. war diamonds

D. conflict diamonds

E. fresh cut diamonds

Someone who brings a buyer and seller together is called a/an 

A. wholesaler

B. broker

C. agent

D. CNF agent

E. dealer

____________ is a sale where goods are shipped and delivered before payment is due?

a. open account

b. cash-in-advance

c. letters of credit

d. consignment

e. FIFO

These groups are only applicable to sea and inland waterway transports except?

a. FAS

b. CFR

c. FOB

d. CIF

e. DDP

Who behaves like a whole seller?

A) Broker

B)Dealer

C)Agent

D)Clinet

E)Retailer

_________ has really helped global trade?

A)Containers

B) Cars

C)Trains

D)Busses

E)Planes

______ is a document issued by a financial institution, or a similar party, assuring payment to a seller of goods.

a) Cash in advance

b) Letters of Credit

c) Documentary Collections

d) Open Account

e) consignment 

_________ is most secure for exporter and least secure for importer

a) cash in advance

b) letters of credit

c) documentary collections

d) open account

e) consignment

in which year container were created

a)1956

b)1954

c) 1966

d) 1976

e) 1984

who invented the container

a)Malcom Mcleam

b)John Smitt

c)Xiao xu

d)Moller Maersek

e)Mattew clark 

To succeed in today’s global marketplace and win sales against foreign competitors, exporters must?

A)    Differentiate their product to fit other cultures

B)     Produce innovative products

C)    Be able to communicate well

D)    offer their customers attractive sales terms supported by the appropriate payment methods

E)     Export more than they import

Which of the following is not a form of a payment for an international transaction?

A)    Cash in Advance

B)     Letters of Credit

C)    Documentary collections

D)    Open Account

E)     Percent Checking

Which of the following is the best option for the seller of a transaction with a buyer?

1. Letters of Credit
2. Cash in advance
3. Documentary Collections
4. Open Account
5. Consignment

Which of the following does the seller bear the risk for loss or damage until the cargo is loaded on the ships in the port of departure?

1. Free on Board
2. Cost and Freight
3. Free Alongside Ship
4. Delivered at Terminal
5. Carriage Paid To

___________ is/are a variation of an open account in which payment is sent to the exporter only after the goods have been sold by the foreign distributor to the end customer.

a. risk

b. consignment

c. letters of credit

d. insurance

e. bonded warehouses

The Inco terms 2010 chart defines risk as:

a. the cost associated with shipping goods

b. the possibility that the seller is obligated to hand over the goods named by the buyer

c. a situation involving physical danger

d. the security measures taken to prevent theft of goods 

e. the possibility that an event may occur which could cause loss of or damage to goods

Which is not a characteristic of a developed economy?

A. Well-developed throughout the country

B. Shorter, efficient distribution systems

C. Longer, efficient distribution systems

D.Locked-up channels are common

E. All of these are characteristics of a developed economy

What is the purpose of payment related to international trade?

A. Differentiates international trade

B. Does not differentiate, but brings together internation trade

C. There is no purpose related to payment

D. Gives more money to developed countries

E. Gives no money to developed countries

Which of the following is NOT a Foreign Market Channel member?

A) Retailers

B) Local Wholesalers 

C) Local Agents

D) Export Agents

E) Import Intermediaries 

 _____________, also refered to as a documentary credit, is a contractual agreement where the issuing bank, acting on behalf of the importer, promises to make payment to the exporter.

A) Credit Transfer

B) Letter of Credit

C) Line of Credit

D) Documentary Collections

E) Consignment 

What are the two most commonly used price terms for Incoterms?

A. EXW and FCA

B. FOB and FAS

C. CIF and FAS

D. FOB and CIF

E. DDP and FOB

An open account is similar to what?

A. A bar tab

B. A bank transaction

C. Trading a chicken for milk

D. Paying for a book with cash

E. Using a credit card

Wal-Mart does not have which of the following?

A whole sellers

B agents

C marketing department

D distribution segment

E invetory managment 

Export management companies are__________.

A in-house company personnel or export departments

B individuals or firms that assist manufactures exporting goods

C handle all aspects of export operations under a contractual agreement

D bring seller and buyer together

E represent a company and market to sellers

                                 , provide essential linkage between manufactured products and the consumer.

a. wholesalers

b. channels of distribution

c. agents

d. mediums of exchange

e. domestic channel members

                                 , do not take a title and work on a percent commision of sales.

a. local wholesalers 

b. retailers

c. brokers

d. local agents

e. dealers

Which one needs long term relationship and need trust in payment?

a. Cash in advance

b. Letters of Credit

c. Documentary collections

d. Open account

e. Consignment

Which one hadles all aspects of export operations under a contractual agreement?

a. Export agents

b. Direct exporting

c. Import intermediaries

d. Export management companies

e. Lacal agents

What is type of payment is risky for importers but a positive for exporters?

a)letters of credit

b)cash in advance

c)open account

d)consignment

e)document collections

Which of the following gets commision?

a)wholesaler

b)broker

c)agents

d)C&F agents

e)dealer

What do brokers do?

a) They bring buyers and sellers together

b) They represent only buyers

c) They represent only sellers

d) They work on Wall Street

e) They sell stock

Which of the following is a characteristic of a wholesaler?

a) They do not take title to goods

b) They take title to goods

c) They work on commission (% of sales)

d) Their size and accessibility vary greatly by country

e) They always sale to the end consumer

When does an exporter get paid?

a.) when the product is shipped

b.) when the product is sold

c.) when the product arrives

d.) when the product is packaged

e.) when the product is designed

What does FOB stand for?

a.) freight on board

b) fresh on board

c.) free on board

d.) find on board

e.) finished on board