Which of the Following Is Correct Regarding the Barriers to International

question 73

Multiple Choice

Which of the following is correct regarding the barriers to international trade?

• A) Research clearly demonstrates that differences in culture are the most important barrier.
• B) The two general categories where barriers exist are in command and market economies.
• C) An embargo is an extreme form of a tariff.
• D) Local content laws apply only to situations across international borders.
• E) When Google agreed to pay $500 million to settle a case with the U.S. government over advertising revenue earned from Canadian online pharmacies, this was an example of business practice laws being violated.

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Definitions:

Bill of Material

A comprehensive list detailing the raw materials, components, and assemblies needed to manufacture a product.

Product Development Strategies

Plans and methodologies adopted by businesses to create new products or improve existing ones.

Acquiring

The act of obtaining or gaining possession of resources, assets, or companies.

Technology

The application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machinery, and devices.