Reference no: EM133347565
Questions
1. The "Fair Trade" prices is the minimum prices that importers must pay to producers.
1. The World Trade Organization monitors fair trade floor prices and changes it from time to time consider the cost of production.
2. The "Fair Trade" price policy stiputates that its unfair to pay market prices to producers in developing countries if the price
3. is too low that it does not provide at least the cost of production.
4. When the market price is higher than the minimum prices, the buyer must pay the higher price.
2. According to the Foreign Corrupt Practices Act, which is statement is INCORRECT?
a. Because Puerto Rico is not a voting territory of the United States, the FCPA is not recognized as a legal and binding law.
b. Corporations are required to make and keep books and records that accurately reflect the transactions of the corportion and maintain a proper accounting control system.
c. As of 1998, the FCPA law can also be applied to foreign firms and people who make "corrupt payments" within the territory of the United States.
d. The FCPA was enacted to prevent people and companies from bribing foreign government officials in obtaining or retaining business.
3. The drivers to globalization include all EXCEPT:
1. Social Impact
2. Technological Advances
3. Political Incentives or Disincentives
4. Lower Cost Savings
4. According to the Foreign Corrupt Practices Act, which is statement is INCORRECT?
a. Because Puerto Rico is not a voting territory of the United States, the FCPA is not recognized as a legal and binding law.
b. Corporations are required to make and keep books and records that accurately reflect the transactions of the corportion and maintain a proper accounting control system.
c. As of 1998, the FCPA law can also be applied to foreign firms and people who make "corrupt payments" within the territory of the United States.
d. The FCPA was enacted to prevent people and companies from bribing foreign government officials in obtaining or retaining business
5. Which is NOT an example of International Business?
a. Morgan Stanley Offices repatriating back to the country origin.
b. Apple Inc, non-US sales at 67% in 2021, Q2.
c. Walmart operates 10,500 stors and clubs in 24 countries.
d. Mercedes Benz China sales 2021 = 598,204 vehicles
6. According to the World Economic Forum, we are all of the following EXCEPT:
a. In the second and third wave of globalization, trade grew to a third of the US economy and over half of the world's economy.
b. We are in the era of "Globalization 5.0"
c. It was in the first wave, that Argentina entered its first golden age as they were able to export beef in "reefer ships" in the late 1870's.
d. The first wave of globalization ended at the start of the WWI.