1 1 point What is the term for the increase in governments' use of tariffs and non-tariff barriers? protectionism discrimination OOOO trade policy preferential treatment 2 FOOOO 1 point Which of the following are changes happening within China in the manufacturing sector? Increasing minimum wage and reliance on automation/robotics Manufacturing is becoming less regulated Increasing environmental standards Shift from low-skilled manufacturing of products like clothing and toys to high-tech products. 3 1 point OOOO What business opportunities has OVID created? Incentives to create businesses that break the 'business as usual format Strengthening companies who rely on in-person consumer interaction Work from home model will continue to save companies money now that the initial investment has been made Increased consumer purchasing power 4 OOOO 1 point How has OVID affected international businesses? Drop in consumer spending on luxury goods Management challenges of everyone working remotely Makes it difficult if not impossible to do just-in-time manufacturing Disruptions to supply chains 5 1 point Which are examples of increasing complexity in supply chains? Having components manufactured in a number of countries Increased specialization Exchange rate fluctuations Increasing labor standards 6 1 point What does the Spaghetti Bowl refer to in terms of international trade? Strong relations between countries who eat spaghetti as a staple food Trade with Italy and its surrounding countries The numerous trade agreements between different countries, all with different rules and exceptions The import and export of spaghetti sauce and pasta 7 1 point Which is not a form of protectionism? Technical standards Lack of regulatory transparency Quotas Taxes applicable to all companies 8 1 point What is currently the biggest threat to the WTO? It is slow The appellate body has no judges Countries don't want to cooperate The volume of trade is down due to COVID 9 1 point Doing business in Africa will become cheaper and simpler in general due to what? Trade agreements between Africa and the US United Nations 2030 Sustainability Goals OOOO Continental Free Trade Agreement China's investment in infrastructure 10 1 point The 'Silicon Valley' of Africa is located in which country? Egypt Nigeria South Africa Kenya