Reference no: EM133080041

1. Due to political differences with North Korea, the U.S. government has stopped trading with North Korea. This practice is an example of imposing a(n)

a) import duty.

b) import cut.

c) export control .

d) trade embargo.

e) export duty .

2. XYZ Company is seeking a partner in China to manufacture its products . It wants to team up with an established Chinese firm that will provide immediate market knowledge and access , reduced risk, and control over product attributes . The best choice for XYZ Company is

a) licensing.

b) a bilateral agreement

c) a joint venture.

d) an export /import merchant agreement . 3. A forum for the discussion of trade problems and a reduction of trade barriers is provided by

a) the General Agreement on Tariffs and Trade (GAT) or the World Trade Organization (WTO ) .

b) a free trade zone .

c) the World Bank .

d) the Eximbank .

e) All of these answers are correct.