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Q: Which of the following emerging market economies has the highest median household income ? A) Indonesia B) Turkey C) China D) India

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Q: Governments and state enterprises in emerging markets are major targets for sales of infrastructure-related products and services.

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Q: ________ is the procurement of selected value-chain activities, including production of intermediate goods or finished products, from independent suppliers. A) Purchasing power parity B) Outsourcing C) Privatization D) Nationalization

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Q: How do national governments contribute to the problems faced by developing economies? Provide examples from Africa, and explain measures taken by governments to improve conditions.

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Q: Bureaucracy and red tape in developing economies deter firms from these countries from participating in the global economy.

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Q: Class Reports (Scenario)Prof. Jacob Middleton has divided students in his international business class into three groups. Each group has been assigned the task of presenting an overview of a major country group and outlining its distinguishing characteristics. Group 1 will discuss advanced economies, Group 2 will address the characteristics of developing economies, and Group 3 will focus on emerging markets.Which of the following refers to a distinctive trait of the type of economy discussed by Group 2?A) substantial competitionB) minimal trade barriersC) poor industrializationD) high inward FDI

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Q: Transition economies were once socialist states but have been largely transformed into capitalism-based systems, partly through ________. A) low inward FDI B) high trade barriers C) low energy consumption D) privatization of state-owned industries

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Q: Which of the following is true with regard to protectionism? A) It increases the availability of raw materials for domestic industries. B) It decreases the cost of products sold in the home market. C) It increases the availability of products sold in the home market. D) It can trigger retaliation from foreign governments, which reduces sales prospects for exports.

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Q: Blocking imports ________. A) increases the availability of raw materials B) increases the availability of products sold in the home market C) reduces the availability of products sold in the home market D) decreases the cost of products sold in the home market

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Q: Which of the following refers to an often-used form of nontariff trade barrier? A) premium B) subsidy C) quota D) grant

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Q: What is a foreign trade zone (FTZ)? In a short essay, explain how FTZs are utilized by firms.

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Q: Which of the following economic blocs includes Switzerland as a member country? A) EU B) EFTA C) CAN D) APEC

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Q: Briefly describe the five levels of economic integration.

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Q: Members of ________ agree to adopt common tariffs and non-tariff barriers that are applied to imports from nonmember countries. A) free trade areas B) customs unions C) the NAFTA D) the EFTA

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Q: Which of the following was the first major effort to systematically reduce trade barriers worldwide? A) WIPO B) GATT C) NAFTA D) WTO

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Q: Which of the following Asian countries had launched an ambitious program of industrialization and export-led development that contributed to its rise from poverty in the 1940s to one of the world's wealthiest countries by the 1980s? A) Indonesia B) China C) Japan D) India

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Q: In 1938, the United States passed the Smoot-Hawley Tariff Act, which ________. A) opened foreign markets for U.S. agricultural products B) led to the consolidation of the U.S. banking system C) instituted strict regulations to contain intellectual property theft D) raised U.S. tariffs to near-record highs of more than 50 percent

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Q: Explain how quotas work as an instrument of government intervention. What are voluntary export restraints? How can firms use foreign trade zones as a strategy to manage government intervention?

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Q: A revenue tariff aims to protect domestic industries from foreign competition.

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Q: ________ are transfer payments or tax concessions made directly to foreign firms to entice them to invest in the country. A) Investment incentives B) Antidumping duties C) Countervailing duties D) Quotas

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Q: Governments sometimes retaliate against subsidies by imposing ________, tariffs on products imported into a country to offset subsidies given to producers or exporters in the exporting country. A) local content requirements B) investment incentives C) countervailing duties D) antidumping duties

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Q: Restrictions on the outflow of hard currency from a country or on the inflow of foreign currencies is called ________. A) antidumping duty B) currency appreciation C) currency control D) currency depreciation

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Q: The so-called ________ specifies that a certain proportion of products and supplies, or of intermediate goods used in local manufacturing, must be produced within the bloc. A) safe harbor B) local content requirement C) rules of origin requirement D) ad valorem tariff

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Q: Nontariff trade barriers have increased in popularity partly because they ________. A) generate profits for foreign firms B) are easier to conceal from the WTO C) restrict trade by imposing direct tax D) have been fairly successful in eliminating smuggling along international borders

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Q: ________ refer to rules that limit the ability of foreign firms to invest in certain industries or acquire local firms. A) Quotas B) Regulations and technical standards C) FDI and ownership restrictions D) Administrative and bureaucratic procedures

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Q: The United Nations estimated that trade barriers alone cost developing countries ________ in lost trading opportunities with developed countries every year. A) $100 billion B) $200 billion C) less than $100 billion D) more than $500 billion

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Q: Nations with economies based on agriculture and textile manufacturing generate more economic revenue than do nations with many high-tech industries.

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