Market Access and Compliance (MAC) Specialists Seek to Open Foreign

question 67

Multiple Choice

Market Access and Compliance (MAC) specialists seek to open foreign markets to American products. MAC specialists do not do the following:

• A) develop strategies to overcome obstacles faced by U.S. business in foreign countries and regions.
• B) monitor foreign country compliance with trade agreements.
• C) monitor exchange rate movement.
• D) all of the above.
• E) A and B.

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Definitions:

Post-contractual Problem

Issues or disputes that arise after a contract has been signed and during its execution period.

Agency Costs

Costs incurred in principal–agent relationships; these costs are associated with moral hazard and adverse selection problems.

Adverse Selection

A situation in economics and insurance where the party on one side of the deal has more information than the party on the other side, leading to an imbalance and potentially unfair outcomes.

Moral Hazard

The risk that one party to an agreement will engage in behavior that is undesirable from the other party's perspective because it does not bear the full consequences of its actions.