BUSI 3250 AUBURN EXAM 2 WITH VERIFIED
QUESTIONS AND CORRECT SOLUTIONS| PASS
WITH THE BEST GRADES.
Quantitative Barriers - Correct Answer-(Quotas) Numerical limits for specific
goods imported during specific period
tariff-rate - Correct Answer-an amount allowed duty free and above and beyond
requires tariff payment
Absolute quota - Correct Answer-a specified amount
Voluntary Export Restraints (VERs) - Correct Answer-are export quotas imposed
by exporting nation; typically through an agreement with the other country
Nationalization is also called - Correct Answer-Expropriation
the taking of private property by a government to make it public - Correct Answer-
Nationalization
US Government took over ownership of what company during crisis of 2008-
2009? - Correct Answer-GM
the selling of government owned property to the private sector to gain more
efficiency in business operations, to raise money or to change in political
climate/philosophy - Correct Answer-Privatization (why governments sell
businesses)
,Protect the economic activities of citizens. Unfair competition is minimized
through - Correct Answer-national laws, negotiations between governments,
efforts of institutions like World Bank
unlawful acts of violence committed for a wide variety of reasons - Correct
Answer-terrorism
What provides a source of operating funds for terrorists? - Correct Answer-
Kidnapping
hijacking and kidnapping on the seas - Correct Answer-Piracy
any illegal Internet-mediated activity that takes place in electronic networks -
Correct Answer-Cybercrime
North Korea tries to hack Pfizer for COVID data is an example of? - Correct
Answer-Cybercrime
What are four areas of increasing concern to governments? - Correct Answer-
protection from terrorism, piracy, kidnapping, cybercrime and other threats
Country Risk Assessment - Correct Answer-An assessment of a country's
economic situation and politics to determine how much risk to employees,
property, and investment exists for the firm doing business there
6 reasons for restricting trade - Correct Answer-Provide for National Defense,
Impose Sanctions, Protect an Infant or Dying Industry, Protect Domestic Jobs,
Ensure Fair Competition, Retaliate
, While trade is promoted - in 1982 ag tariffs averaged _______% - in comparison
manufactured good tariffs=____% - Correct Answer-62%; 4%
Reasons to restrict trade to provide for national defense - Correct Answer--Certain
industries need protection from imports because they are vital to security
-economists say this is a weak argument
Reasons to restrict trade to impose sanctions - Correct Answer--Inflict economic
damage, punish, or encourage change of behavior
-Seldom achieve their goal
-Produce collateral economic damage
Reasons to restrict trade to Protect an Infant or Dying Industry - Correct Answer--
Give infant industries a chance to grow and build comparative advantage
-Without this, lower-cost imports will underprice in local marke
-Slow down impact of dying industry—move capital into other sectors
US first pass a law against foreign goods dumping in 1916. No law against US
companies dumping abroad though - Correct Answer-Example of retailation
Dumping is defined in 3 ways - Correct Answer-- selling a product abroad for less
than cost of production
- selling product abroad for less than price in home market
- selling product abroad for less than price to third-party countries
Predatory dumping - Correct Answer-setting price below another country's to put
them out of business/competition
QUESTIONS AND CORRECT SOLUTIONS| PASS
WITH THE BEST GRADES.
Quantitative Barriers - Correct Answer-(Quotas) Numerical limits for specific
goods imported during specific period
tariff-rate - Correct Answer-an amount allowed duty free and above and beyond
requires tariff payment
Absolute quota - Correct Answer-a specified amount
Voluntary Export Restraints (VERs) - Correct Answer-are export quotas imposed
by exporting nation; typically through an agreement with the other country
Nationalization is also called - Correct Answer-Expropriation
the taking of private property by a government to make it public - Correct Answer-
Nationalization
US Government took over ownership of what company during crisis of 2008-
2009? - Correct Answer-GM
the selling of government owned property to the private sector to gain more
efficiency in business operations, to raise money or to change in political
climate/philosophy - Correct Answer-Privatization (why governments sell
businesses)
,Protect the economic activities of citizens. Unfair competition is minimized
through - Correct Answer-national laws, negotiations between governments,
efforts of institutions like World Bank
unlawful acts of violence committed for a wide variety of reasons - Correct
Answer-terrorism
What provides a source of operating funds for terrorists? - Correct Answer-
Kidnapping
hijacking and kidnapping on the seas - Correct Answer-Piracy
any illegal Internet-mediated activity that takes place in electronic networks -
Correct Answer-Cybercrime
North Korea tries to hack Pfizer for COVID data is an example of? - Correct
Answer-Cybercrime
What are four areas of increasing concern to governments? - Correct Answer-
protection from terrorism, piracy, kidnapping, cybercrime and other threats
Country Risk Assessment - Correct Answer-An assessment of a country's
economic situation and politics to determine how much risk to employees,
property, and investment exists for the firm doing business there
6 reasons for restricting trade - Correct Answer-Provide for National Defense,
Impose Sanctions, Protect an Infant or Dying Industry, Protect Domestic Jobs,
Ensure Fair Competition, Retaliate
, While trade is promoted - in 1982 ag tariffs averaged _______% - in comparison
manufactured good tariffs=____% - Correct Answer-62%; 4%
Reasons to restrict trade to provide for national defense - Correct Answer--Certain
industries need protection from imports because they are vital to security
-economists say this is a weak argument
Reasons to restrict trade to impose sanctions - Correct Answer--Inflict economic
damage, punish, or encourage change of behavior
-Seldom achieve their goal
-Produce collateral economic damage
Reasons to restrict trade to Protect an Infant or Dying Industry - Correct Answer--
Give infant industries a chance to grow and build comparative advantage
-Without this, lower-cost imports will underprice in local marke
-Slow down impact of dying industry—move capital into other sectors
US first pass a law against foreign goods dumping in 1916. No law against US
companies dumping abroad though - Correct Answer-Example of retailation
Dumping is defined in 3 ways - Correct Answer-- selling a product abroad for less
than cost of production
- selling product abroad for less than price in home market
- selling product abroad for less than price to third-party countries
Predatory dumping - Correct Answer-setting price below another country's to put
them out of business/competition
