FM 116 Exam 2 Review Questions and Correct Answers
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Course
FM 116
Institution
FM 116
What is the world trade organization? - Permanent global institution to: Promote international trade, Settle international trade disputes
Understanding how to eliminate imports in countries - Tariffs or Duties, Quotas, Embargo
Duties and Tariffs Taxes levied against imports
Quota Limitations on ...
FM 116 Exam 2 Review Questions and
Correct Answers
What is the world trade organization? ✅- Permanent global institution to: Promote
international trade, Settle international trade disputes
Understanding how to eliminate imports in countries ✅- Tariffs or Duties, Quotas,
Embargo
Duties and Tariffs ✅Taxes levied against imports
Quota ✅Limitations on the amount of specific products that may be imported from
certain countries during a given time period
Embargo ✅Complete ban on international trade of a certain item, or a total halt in trade
with a particular nation
The first time a company issues stocks, what is that called ✅- Initial public offering:
First time a corporation sells its stock in a public offering
- the stock moves to the secondary securities market.
What is a bond ✅- Bonds: Formal IOUs issued by a corporation or government entity
- Government Bonds are considered very safe investments. But they pay a relatively
low interest rate.
- Corporations also issue bonds, but they are only as creditworthy as the corporation
itself. If the company goes out of business, you are out of luck.
- Maturity date: Date a bond comes due (you get your money back with interest)
Autocratic leaders ✅Hoard decision-making power for themselves and issue orders
without consulting followers
Democratic leaders ✅Share power with followers, solicit and incorporate input from
followers before making final decisions
Free-rein leaders; Laissez Faire leaders ✅Set objectives for followers but give them
freedom to choose the way to accomplish those goals
Distinction between line position and staff position ✅- Line - A line manager has direct
responsibility for achieving the company's goals and is in the direct chain of command.
- Staff - A staff manager supports and advises the line managers
Trade deficits ✅Total value of imports is higher than the total value of exports
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