final

which is the principle government agency responsible for aiding the export of American goods and services through a variety of loan, guarantee, and insurance programs?

U.S. Export-Import Bank (Ex-Im Bank)

the chinese concept of guanxi is an example of

an informal cognitive institution

iso 9000 is used

as a set of five universal standards for a quality assurance system agreed to by the international organization for standardization

at the end of ww 2 the un called for the conference that set up the world bank and the imf this conference was held in

bretton woods new hampshire

which of these actions is the least risky for an exporter

cash in advance

which is a downside of flexible manufacturing

changes in the production line cost money

Which two countries together account for one third of the global population and have increased trade and reduced absolute poverty?

china and india

which item or service is least likely to be included within indirect procurement

components

the un addresses global environment problems by

developing initiatives that support sustainable business practices

The first principle of the wto's five basic principles is trade without

discrimination

the payment terms discussed in the text that exporters can offer to foreign buyers are cash in advance, open account, consignment, letters of credit, and

documentary drafts

Informal normative institutions

establish standards and propagate humanitarian principles

A document issued by the carrier that is a contract for the shipment, a receipt for the goods shipped, and a certificate of ownership is called a(n)

export bill of lading

It is better for companies to initially outsource complex activities to achieve better cost benefits

false

Shorter and less predictable product life cycles have placed reduced emphasis on supply chains and their performance

false

Standards are documented agreements containing flexible general guidelines, rules, or definitions of the characteristics of a product, process, or service

false

The Bretton Woods Conference established the European union currency the euro

false

The EU is administered by the European commission, a group composed of six commissioners elected the EU level

false

Trading blocs are designed to bring cost savings to international firms, whether inside or outside the trading bloc

false

international freight, insurance, and packing can add as much as 25 to 30 percent to the quoted price

false

most international customers will pay cash in advance unless the order is for a custom made product

false

the small business administration provides what kind of assistance

financial assistance

in synchronous manufacturing, a production increase at the bottleneck means an increase

for the entire production system

What is the term for when the sale of an exporter's accounts receivable on capital goods, commodities, and other high-value goods has the payment due at least 180 days out

forfaiting

which type of institution operates through laws and regulations with coercion as the regulative mechanism

formal

The ibrd is a major institution of the world bank whose function is to loan to

middle income and creditworthy poor nations

the economic integration of the eu is based on

national willingness to forego sovereignty in some areas.

Is the WTO's idea of "fair competition" really a code phrase for free trade?

not really. trade relationships among nations can be exceedingly complex, and the wto supports fair competition, which may mean freer trade rather than free trade.

If exporting turns out to be unfeasible because of import restrictions or insufficient human or financial resources but the firm still wants to sell its products overseas, the firm should consider

pursuing licensing or joint venture agreements

the european union is organized into nine institutions with functions similar to those performed by a national government. These insitutions

represent the people of europe and member-states

The IMF initially played a central role in:

setting fixed exchange rates among nations' currencies with an established par value based on gold.

informal institutions work on the principle of

shared norms and values

Documented agreements containing technical specifications or other precise criteria that will be used consistently as guidelines, rules, or definitions of the characteristics of a product, process, or service are referred to as:

standards

New institutional theory suggests that institutions provide

the rules of the game reducing uncertainty

A disadvantage for companies that insist on less risky transactions such as a letter of credit is that they may be losing business to competitors who sell open accounts

true

In a customs union, common external tariffs are added to an existing FTA, as found in the Southern African Customs Union and Mercosur.

true

International institutions provide nations the opportunity to build mulilateral solutions through collaborative communication

true

New institutional theory suggests that institutions be understood as collections of rules and codes of conduct that limit behavior

true

Often new exporters think that they won't have to localize their approach, that a marketing technique or distribution system that works in one country will work in another.

true

Outsourcing is hiring others to do noncore activities

true

Some think that renewed focus on exchange rates would be a good path forward for the imf which is struggling with core issues to its purpose

true

The two major reasons u.s. firms give for not exporting are (1) preoccuptions with the vast american market and (2) reluctance to become involved in a new and unknown operation

true

The united Nations operates with voluntary agreements so it is essentially an informational institution

true

ciber is an international business research and education program located at us universities

true

the international finance corporation invests in companies and financial institutions in developing countries

true

Incoterms describe three issues that arise in a commercial transaction including

which party covers the cost

which arrangement can provide a firm with foreign products

wholly owned subsidiary

which sourcing arrangement may be established in a country with low cost labor to supply components to the home country plant or the subsidiary may produce a product that either is not made in the home country or is of higher quality

wholly owned subsidiary

Most African nations have their main trade relationships:

with developed nations, often built on former colonial ties