Question

QUESTION 1 Which of the following statements is true:

       
There are more tertiary goods traded than primary goods

       
There are more tertiary goods traded than secondary goods

       
There are fewer secondary goods traded than primary goods

       
There are more secondary goods traded than tertiary goods

QUESTION 2 Non-tariff barriers to trade include all but the following:

       
Local content requirements

       
Government subsidies

       
Taxes on imports

       
Packaging requirements

QUESTION 3 : TRIPS protects the following kind of property:

       
Intellectual property

       
Real estate

       
Machinery and equipment

       
Joint ventures

QUESTION 4 Which one of the following is not an attribute of Porter’s theory of competitive advantage?

       
The firm’s macroeconomic environment

       
Domestic demand for specific goods and services

       
The bargaining power of suppliers

       
The firm’s existing competition

QUESTION 5 Which of the following is not a reason governments practice protectionism:

       
Protecting employment

       
Promoting industrialization

       
Promoting global harmony

       
Protecting national culture

QUESTION 6 Which of the following statements is true about competitive advantage:

       
The four determinants in Porter’s diamond are interdependent

       
Government intervention is not needed for a country to develop competitive advantage

       
A rising middle class does little to contribute to a nation’s competitive advantage

       
If a country has a strong natural resource base, it is not necessary to invest in education

QUESTION 7 Which of the following is the predecessor organization to the WTO:

       
IMF

       
World Bank

       
GATT

       
ITO

QUESTION 8 Billiton is committed to all of the following except:

       
Oil & gas

       
Coal

       
Hydroelectric

       
Copper

QUESTION 9 International trade is most likely to generate short-term unemployment

       
In industries in which there are no imports or exports

       
In import competing industries

       
In industries that sell to both domestic and foreign buyers

       
In industries that sell only to foreign buyers

QUESTION 10 The triad countries include:

       
The US, Europe and Japan

       
The US, Mexico and Canada

       
The US, China, and Europe

       
The US, Europe and Brazil

Answer 1

Answer3 )TRIPS protects the following kind of property : Intellectual property.

Hence option A is the correct answer.

5) For Promoting global harmony is not a reason governments practice protectionism.

Hence option C is the correct answer.

7) GATT is the predecessor organization to the WTO.

Hence option C is the correct answer.

8) Billiton is committed to all of the following except: Hydroelectric.

Hence option C is the correct answer.