Which of the following best illustrates transfer pricing?

This past year, Airbnb legally declared over $800 million in profits in Argentina and just $5 million in profits in the United States.

BMW recently moved its manufacturing and production to Juarez, Mexico.

Taiwanese company, TSMC, built semiconductor facilities in Arizona last year.

Starbucks recently hired a law firm in India to handle its local taxes.

Which of the following is NOT an example of a contingency?

British Imperialism driven by the acquisition of Iberian slave trade routes and the Caribbean’s ideal climate for sugarcane cultivation

Britain expanded its control over portions of India by exploiting the internal power vacuum in the Mughal Empire after the death of the emperor

Spain exported silver to China to finance the growth of the Spanish Empire

The withdrawal of the Chinese navy from the Indian Ocean granted the Portuguese access to Asian goods and spices

Which of the following is an example of a micro-conditionality placed on an IMF loan?

A requirement that Mexico decrease the amount that teachers are paid.

A requirement that Ghana decrease the amount of foreign goods it imports.

A requirement that Argentina holds more democratic elections.

A requirement that Sierra Leone decrease its overall government spending.

Which of the following best illustrates the periphery model of trade:

The UK exports vaccines to Uganda while Uganda exports gold ore to the UK.

The German economy is made up of 75% tertiary sector and 25% secondary sector.

The United States and Mexico trade significantly more than India and Mexico.

The DRC’s main exports are raw minerals such as unrefined copper and cobalt.

Which of the following is an example of a trade quota:

Canada only allows 2 tons of maple syrup to be imported within one calendar year.

The EU recently imposed regulations around the labelling of products produced through deforestation.

Last year, the US imposed a 50% tax on all steel imports.

Mexico recently announced a tax reduction for farmers that grow heirloom varieties of maize.

In the 1990s China placed high tariffs and low quotas on imported goods and heavily subsidizes their emerging manufacturing sector in an effort to boost domestic production. This is an example of which of the following?

Import Substitution Industrialization

General Agreement on Trade and Tariffs

Which of the following best illustrates a violation of the Most Favored Nation policy?

China recently agreed to offer Russia a lower tariff rate for their agricultural products while simultaneously raising tariffs on American agricultural products.

The U.S. recently introduced a tax credit for Americans that purchase American-manufactured electric vehicles.

The US and EU recently came to an agreement to reduce their subsidies on airplane manufacturing.

Trump recently announced tariffs on all flat-screen TVs imported into the U.S.

What is the main reason the WTO denied a petition to suspend intellectual property rules on COVID-19 vaccines for less developed countries in 2020?

The WTO was enforcing the Trade-Related Aspects of Intellectual Property Rights.

Pfizer wanted to make more profit off the vaccine.

Intellectual property rights are protected by the National Treatment Policy.

The United States denied the request.

When the Appellate Body of the WTO has ruled against a country violating WTO rules, and it has been given a reasonable time period to address the trade policy violation, what can the complaining country do?

Retaliate against the violating country with new trade restrictions such as tariffs.

Charge the violating country fines.

Get the violating country suspended from the WTO.

Require all WTO members to suspend trade with the violating country.

Which of the following is an example of trade dumping?

India made complaints against the U.S. for selling large quantities of U.S.-grown corn in India for artificially low prices.

Biden and Trump have both cited national security as a reason for increasing tariffs on Chinese-manufactured goods.

The U.S. sold vaccines at a higher price to middle income countries such as Brazil, India, and Russia.

China made complaints against the EU for their high subsidies on alcohol products, such as brandy.

Which of the following is an example of the U.S. government acting as an Ultimate Guarantor?

During COVID-19, the U.S. government spent millions of dollars to prevent airline companies from going bankrupt.

After the 2008 financial crisis, the U.S. government passed the Dodd-Frank Act to regulate banks and protect consumers.

The U.S. government developed most of the novel technology in iPhones including GPS and touch-screens.

Early in his second term, President Trump engaged in discussions with Denmark about buying Greenland.

Which of the following is an example of the general conditions of production?

The federal government training and hiring air traffic controllers to staff airports across the country.

The Amazon warehouses that serve as private delivery hubs.

Chinese companies building roads in sub-Saharan Africa in order to move raw materials and curry favor with governments.

The network of oil tankers that transport oil to and from different ports in the United States.

Which of the following is NOT an example of Banal Nationalism?

Paying sales tax when you go shopping.

Saying the Pledge of Allegiance every morning in elementary school.

Standing for the Star-Spangled Banner before every sports event.

Active service members getting to board the airplane before you.

Which of the following best illustrates National Stereotyping?

Describing Iraq as anti-democratic and dangerous.

Describing Japan as cool because they have anime and sushi.

Describing Canadians as polite and friendly.

Describing the British as sharing many American values.

Which of the following is the best example of a Symbol of Statehood?

The University of Michigan “M”

Which of the following best illustrates sectoral capital?

All oil and gas companies in the United States.

The University of Michigan system.

The Johnson and Johnson company.

All of the regulatory agencies in the US.

Control and Coordination of a multinational corporation does NOT include which of the following:

Researchers that collaborate with local universities to develop novel technology.

Financial service employees that track costs, evaluate tax avoidance strategies, and determine global strategy.

Data managers that process and transmit market data and production information.

Law firms and lawyers that specialize in regulatory compliance.

INTLSTD101 Midterm Practice Questions

Authored by Peyton Rundell

Social Studies

University

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38 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of unequal exchange?

Garment industry workers in Bangladesh have unionized and are demanding fair wages and safer working conditions.

Workers for AI company in Indonesia earn $0.60 per hour labelling images and cataloguing data for use in American AI-generative software platforms.

Cocoa farmers in Ghana have worked with chocolate makers in Alabama to increase their profit-share.

BMW established a research facility in Munich, Germany.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

iPhones are made from over 1,000 different parts in factories across the globe where each component’s manufacture is split into individual tasks requiring little training or skill. This is an example of which of the following:

Social Division of Labor

Technical Division of Labor

Corporate Veil of Distance

Geographic Inflexibility

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best illustrates the idea of worldcentrism?

The natural progress of society moves towards individual freedoms and democratic governments.

The advancement of modern medicine benefits everyone and was made possible through Enlightenment science alone.

The progress of history is a result of accidents and contingencies not the natural superiority of one culture or ideology.

The Industrial Revolution was the natural progression of humankind’s evolution.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a cause or consequence for Spain’s imperialist expansion West into the Americas starting with Columbus’ voyage?

Spain was able to finance its voyages with newly discovered silver due to Chinese demand for silver where it was the official currency.

The Mughal Empire had an internal power contest that caused it to weaken.

The Americas contained an abundance of gold and silver metals.

The Indigenous population was highly susceptible to diseases brought by European sailors and nearly 90% of the population died within 100 years of contact.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

BMW has its headquarters in Munich, but recently established an R&D facility in Singapore. This is an example of which of the following:

Control and Coordination

Production Operations

Geographic Flexibility

Unequal Exchange

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of brownfield foreign direct investment?

American company, Meta, created a new subsidiary in Mumbai, India.

Chinese company, TikTok, was banned in the United States.

American company, Tesla, built a gigafactory in Shanghai, China.

President Trump recently helped finalize an agreement for Nippon Steel, a Japanese company, to purchase U.S. Steel, an American company.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A lawsuit against Nestle Corp, accusing the company of engaging in child slavery in West Africa, was dismissed in U.S. Federal Court. This is an example of which of the following:

Transfer Pricing

Corporate Veil of Distance

Geographic Flexibility

Greenfield FDI

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INTLSTD101 Midterm Practice Questions

Which of the following is an example of unequal exchange?

iPhones are made from over 1,000 different parts in factories across the globe where each component’s manufacture is split into individual tasks requiring little training or skill. This is an example of which of the following:

Which of the following best illustrates the idea of worldcentrism?

Which of the following is NOT a cause or consequence for Spain’s imperialist expansion West into the Americas starting with Columbus’ voyage?

BMW has its headquarters in Munich, but recently established an R&D facility in Singapore. This is an example of which of the following:

Which of the following is an example of brownfield foreign direct investment?

A lawsuit against Nestle Corp, accusing the company of engaging in child slavery in West Africa, was dismissed in U.S. Federal Court. This is an example of which of the following:

Which of the following best illustrates transfer pricing?

Which of the following is NOT an example of a contingency?

The United States encouraged the Nigerian government to privatize its oil companies and decrease its environmental regulations in order to invite more foreign investment. This is an example of which of the following:

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