BUSMHR 2000-Final exam Questions and Answers | 100% Pass
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Course
BUSMHR
Institution
BUSMHR
BUSMHR 2000-Final exam Questions
and Answers | 100% Pass
free trade - Answer-government does not attempt to restrict what citizens can buy
from another country or what they can sell to another country
tariffs - Answer-A tax on imports that effectively raises the cost of imported
products relat...
that voluntarily restricts the quantity of its exports
b.Quota on trade imposed by the exporting country, typically at the request of the
importing country's government
voluntary export expansion - Answer✔✔-an official agreement with another country in
which it agrees to import more from the U.S.
local content requirements - Answer✔✔-a. A local content requirement demands that
some specific fraction of a good be produced domestically
b. Can be in physical terms or in value terms
c. Local content requirements benefit domestic producers and jobs, but consumers face
higher prices
administrative policies - Answer✔✔-a. bureaucratic rules designed to make it difficult
for imports to enter a country
b. these policies hurt consumers by denying access to possibly superior foreign
products
antidumping duties - Answer✔✔-a. Dumping: selling goods in a foreign market below
their cost of production, or selling goods in a foreign market at below their fair market
value
b. Objective is to protect domestic producers from unfair foreign competition
c. U.S. firms that believe a foreign firm is dumping can file a complaint with the
government
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