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Exam 13: Exporting,Importing,and Countertrade

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Question 21

True/False

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The volume of export activity in the world economy is declining as exporting has become more difficult and regulated.

A) True
B) False

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Question 22

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A typical international trade transaction involves ____________ steps,with the first step being ____________.

A) 12; an importer placing an order with an exporter asking if the importer would be willing to ship under a letter of credit
B) 12; an importer placing an order with an exporter asking if the exporter would be willing to ship under a letter of credit
C) 14; an exporter placing an order with an importer asking if the exporter would be willing to ship under a letter of credit
D) 14; an exporter placing an order with an importer asking if the importer would be willing to ship under a letter of credit
E) 14; an importer placing an order with an exporter asking if the exporter would be willing to ship under a letter of credit

F) A) and C)
G) A) and E)

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Question 23

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Large firms generally tend to be ______________ about seeking opportunities for profitable exporting,whereas medium-sized and small firms are ____________.

Who are considered to be the masters of countertrade?

If a firm builds a plant in a country and agrees to take a certain percentage of the plant's output as partial payment for the contract,this is known as an offset.

What federal agency supports the development of trade by providing services to exporters,developing policy,and attracting investment to Canada?

The Business Development Bank of Canada focuses on Canadian exporting businesses and provides financial assistance mainly for export specific purposes as a way to facilitate the exchange of goods between Canada and other countries.

In an international transaction between an Asian exporter and a German importer,the German company will request a ____________ whereas the Asian company will issue a ____________.

You have just been hired by a new company,which manufactures frozen foods,to manage their export business to Venezuela,Brazil and Chile.The company management has decided that they are just not ready to organize the documentation and the financial transaction.In fact,because of poor documentation their first shipment was delayed by customs and food inspectors for 90 days before the proper documentation was couriered to the authorities.Your first job is to explain to management how you can improve the preparation of documentation and ensure that the company will get paid for its products.

A bill of lading is a:

Given the financial and other risks,today,governments at all levels in Canada are not willing to assist small firms in starting export operations.

The most restrictive countertrade arrangement is:

Exporters are typically faced with what problems?

According to the text,why is exporting becoming easier?

For novice exporters,it is recommended that they hire an EMC to help identify opportunities and navigate through the web of paperwork and regulations.

Mechanisms for financing exports and imports have evolved over the centuries in response to a problem that can be particularly acute in international trade: ________________.

What percent of world trade by value in 1998 was in the form of countertrade?

The probability of exporting successfully can be increased dramatically by taking eight strategic steps.What are these steps?

You are the manager of international markets for Algoma Steel.You have received an offer to purchase 3000 metric tons of wire rods (used to draw wire for the manufacture of nails)from a large nail manufacturer in Panama.What are the most appropriate terms of payment and export conditions given the following information? Panama's currency has been extremely unstable,with its value depreciating by more than 25% in the last three months. The legal system is extremely weak in Panama,with many examples of corruption. Rain and summer heat and humidity can cause the product to deteriorate if stored outside.

Exporting is: