1.) The Uruguay Round of GATT wrote new international rules for? A. Services B.
ID: 1099613 • Letter: 1
Question
1.) The Uruguay Round of GATT wrote new international rules for?
A. Services
B. Intellectual Properties
C. Agriculture
D. All of the above
E. (A) and (B) above
2,) Regarding foreign investment it can be divided into three components
A. International trade, portfolio investment, and direct investment.
B.
portfolio investment involves investors who participate in the management of the firm in addition to receiving a return on their money.
C.
deals that result in the foreign investor's obtaining at least 10 percent of the shareholdings are classified as portfolio investments.
D.
two of A, B, and C.
E.
none of A, B, and C.
3.) You have been engaged as an advisor for a developing country. You are asked the following question:
Should the country have a strategy of import substitution or specialization? Explain each of these concepts and the theory of comparative advantage in your answer. Using the theory of comparative advantage come to a conclusion as to which strategy the country should use.
4.)The Chinese concept of guanxi is an example of
A.
an informal, cognitive institution.
B.
a regulative, formal institution.
C.
a favorite cooking method of Chairman Mao.
D.
taken-for-granted approaches to friendship relations.
5.) Frederick Gluck, management consultant, says that for firms to develop the flexibility to compete, managements must make the following change(s) in their planning methods
A.
top management must dedicate more time to deciding how things ought to be done.
B.
the nature of planning must change from being an exercise in forecasting to being an exercise in creativity.
C.
planning processes and tools that assume a future much like the past must be replaced.
D.
strategic planning must be restored to strategic planning departments.
E.
two of the above.
6.) A strategic plan
A.
will be prepared when the tactical plan is finalized.
B.
escribes how the firm's goals will be met.
C.
contains sales forecasts and budgets.
D.
all of the above.
E.
two of A, B, and C.
7.) The US is not typical of other developed nations in the percent of its exports that go to developed nations.
True or False
8.) Countries that levy value-added taxes are not permitted by WTO rules to rebate them to exporters. True or False
9.) In developing economies, informal institutions tend to play a greater role than in developed economies, possibly because
A.
the developing economies have more ambiguity and lack formal institutions by definition, so informal institutions step into the breach.
B.
developing economies show cultural preference for informality.
C.
informal institutions emerge to give order to the unstructured, chaotic environment.
D.
A and C.
10.)The worldwide stock of outward FDI is estimated to have increased _______ between 1990 and 2010.
A.
3-fold
B.
5-fold
C.
9-fold
D.
12-fold
E.
17-fold
B.
portfolio investment involves investors who participate in the management of the firm in addition to receiving a return on their money.
Explanation / Answer
1.) The Uruguay Round of GATT wrote new international rules for?
A. Services
B. Intellectual Properties
C. Agriculture
D. All of the above
E. (A) and (B) above
E; all of the above, Uruguay round included new fields like services, intellectual property rights, investment policy trade restrictions and they also included agriculture and textiles.
2,) Regarding foreign investment it can be divided into three components
E.
none of A, B, and C.
3.) You have been engaged as an advisor for a developing country. You are asked the following question:
Should the country have a strategy of import substitution or specialization? Explain each of these concepts and the theory of comparative advantage in your answer. Using the theory of comparative advantage come to a conclusion as to which strategy the country should use.
Import substitution advocates the replacement of imports with domestic production. This will help in reducing the forigen dependency.
On the other hand, specialization is a policy that advocates to concentrate the available resources on production process in which the country is efficient.
Specialization policy is more related to the comparative advantage policy, as per this theory, a country has to deploy its resources towards the production process with lowest opportunity cost.
Further, if I am an economic advisor; I will recommend a mixed policy of 80% specialization and 20% import substitution. This is because, specializing in trade is very essential for an economy for it growth. However, in certain areas like medical care, food and national security( arms, ammunition, technology) each country should have a domestic competency and minimal external dependency.
4.)The Chinese concept of guanxi is an example of
A.
an informal, cognitive institution.
5.) Frederick Gluck, management consultant, says that for firms to develop the flexibility to compete, managements must make the following change(s) in their planning methods
E.
two of the above.
6.) A strategic plan
E.
two of A, B, and C.
7.) The US is not typical of other developed nations in the percent of its exports that go to developed nations.
False
8.) Countries that levy value-added taxes are not permitted by WTO rules to rebate them to exporters. True
9.) In developing economies, informal institutions tend to play a greater role than in developed economies, possibly because
D.
A and C.
10.)The worldwide stock of outward FDI is estimated to have increased _______ between 1990 and 2010.
A.
3-fold
B.
5-fold
C.
9-fold
D.
12-fold
E.
17-fold
E.
none of A, B, and C.
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