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BUSI 3250 Exam 2 Questions with Verified Answers
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BUSI 3250 Exam 2 Questions with Verified Answers
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BUSI 3250 Exam 2 Questions withVerified Answers
Nationalization is also called - Answer-Expropriation
the taking of private property by a government to make it public - Answer-
Nationalization
US Government took over ownership of what company during crisis of 2008-2009? -
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 -
Answer-Privatization (why governments sell businesses)
Protect the economic activities of citizens. Unfair competition is minimized through -
Answer-national laws, negotiations between governments, efforts of institutions like
World Bank
unlawful acts of violence committed for a wide variety of reasons - Answer-terrorism
What provides a source of operating funds for terrorists? - Answer-Kidnapping
hijacking and kidnapping on the seas - Answer-Piracy
any illegal Internet-mediated activity that takes place in electronic networks - Answer-
Cybercrime
North Korea tries to hack Pfizer for COVID data is an example of? - Answer-Cybercrime
What are four areas of increasing concern to governments? - Answer-protection from
terrorism, piracy, kidnapping, cybercrime and other threats
Country Risk Assessment - 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 - 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=____% - Answer-62%; 4%
, Reasons to restrict trade to provide for national defense - 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 - 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 - 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 - Answer-Example of retailation
Dumping is defined in 3 ways - 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 - Answer-setting price below another country's to put them out of
business/competition
Social dumping - Answer-when producers have lower wage rates, lower social costs
(unemployment taxes and env. regulations) poor worker benefits, poor working
conditions
Environmental dumping - Answer-when an exporter can sell at lower costs due to the
country's loose environmental standards
Taxes on imported goods for the purpose of raising their price to reduce competition for
local producers or stimulate local production - Answer-Tariffs
An import duty levied as a percentage of the invoice value of imported goods - Answer-
Ad Valorem Duty
Nontariff barriers are - Answer-all forms of discrimination against imports other than
import duties
Quantitative Barriers - Answer-(Quotas) Numerical limits for specific goods imported
during specific period
tariff-rate - Answer-an amount allowed duty free and above and beyond requires tariff
payment
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