Part A: Answer each of the following questions in one or two paragraphs. Each answer is worth 20 points.

1. Exporters are confronted with five or six times as many documents as are domestic shippers. Assuming that agents prepare the documents, book space with carriers, and supply insurance, describe export documents and export shipments.

2. What is international strategy, and why is it important?

3. Market analysis and assessment identifies a small number of viable markets by eliminating those that are unattractive. Define the final three steps in the recommended sequence of market screenings covered in your textbook, in order.

Part B: Answer each of the following questions in one to four sentences. Each answer is worth 4 points.

1. Briefly define the following terms:

a. Multidomestic company (MDC)

b. Global company (GC)

c. International company (IC)

2. Describe the difference between trade missions and reverse trade missions organized by the U.S. Department of Commerce.

3. Briefly list several advantages of focusing attention on a nation that's already a sizable purchaser of goods from the would-be exporter's country.

4. Briefly define the two kinds of currency floats: managed and independent

5. Whatever its ideology, what is the historical function of government?

6. What is the difference between private and public international law?

7. What is the difference between formal and informal institutions?

8. Describe the differences between top-down planning and bottom-up planning. What are the advantages and disadvantages of each?

9. What are ADFts, and what is their purpose?

10. Name the following international economic institutions. Explain the purpose of each and how they differ.

a. WTO

b. OECD