Bus 101 quiz 3 The Global Market

A(n) _____ is a tax levied by a nation on imported goods.

tariff

There are arguments for and against the use of tariffs. What are the most likely reasons why a cattle-producing country like Argentina might have a tariff on the importation of beef?

to protect domestic business and workers

Active ownership of a foreign company, with direct investors having either a controlling or a large minority interest in the firm, is called a(n)

direct foreign investment

_____ is the sense of national consciousness that boosts the culture and interests of one country over those of all other countries.

Nationalism

Which of the following statements about dumping is true?

The U.S has passed laws to make dumping illegal.

The _____ is an agreement that dramatically lowered trade barriers worldwide and created the new World Trade Organization (WTO)

Uruguay Round

Japan bans importation of rice to protect its domestic rice industry. This ban is an example of

protectionism