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Page 14
The European Union Free Trade Agreement
The General Agreement on Tariffs and Trade
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Question 60
Multiple Choice
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If a newly formed country wanted to increase its international trade and reduce worldwide
tariffs, it would
most likely
try to become a part of
Answer
NAFTA.
WTO.
MERCOSUR.
APEC.
EU.
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Question 61
Multiple Choice
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The term
dumping
refers to the sale of
Answer
products sold in foreign markets that cannot be sold in the United States.
products sold in foreign markets at prices above those charged in the United
States.
all discontinued U.S. products in foreign countries.
products sold in foreign countries at unfairly low prices.
products sold in foreign markets that cannot pass safety standards in the
United States.
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Question 62
Multiple Choice
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If Hyundai, a Korean automobile manufacturing firm, started selling its cars at unfairly low
prices to Germany, Hyundai would be engaging in
Answer
quota-
enforcing.
embargoing.
shoveling.
dumping.
dipping.
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Question 63
Multiple Choice
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The World Trade Organization accomplishes all of the following
except
Answer
educating companies about international trade rules.
lending money to businesses interested in developing international markets.
serving as a forum for trade negotiations.
helping settle trade disputes.
providing legal ground rules for international commerce.
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Page 15
Question 64
Multiple Choice
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At the heart of the ____ are agreements that provide legal ground rules for international
commerce and trade policy.
Answer
United Nations
GATT
MERCOSUR
WTO
APEC
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Question 65
Multiple Choice
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When a firm's products sell in foreign countries with little or no effort to obtain foreign sales,
the firm is engaging in
Answer
international marketing.
global marketing.
limited exporting.
product licensing.
unplanned exporting.
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Question 66
Multiple Choice
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Miller's Home Furnishings uses marketing strategies aimed at markets within the United
States, its home country. Miller's engages in
Answer
domestic marketing.
localized marketing.
globalized marketing.
limited exporting.
international marketing.
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Question 67
Multiple Choice
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Which of the following lists the levels of involvement in global marketing from the
lowest
to
the
highest
?
Answer
International marketing, limited exporting, domestic marketing, globalized
marketing
Limited exporting, domestic marketing, globalized marketing, international
marketing
Globalized marketing, international marketing, limited exporting, domestic
marketing
Domestic marketing, globalized marketing, international marketing, limited
exporting
Domestic marketing, limited exporting, international marketing, globalized
marketing
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