1. Due to political differences with North Korea, the U.S. government has stopped trading with North Korea. This practice is an example of imposing a(n) a) import duty. b) import cut. c ) export control . d) trade embargo. e ) export duty . 2. XYZ Company is seeking a partner in China to manufacture its products . It wants to team up with an established Chinese firm that will provide immediate market knowledge and access , reduced risk, and control over product attributes . The best choice for XYZ Company is a) licensing. b ) a bilateral agreement c) a joint venture. d) an export /import merchant agreement . 3. A forum for the discussion of trade problems and a reduction of trade barriers is provided by a) the General Agreement on Tariffs and Trade (GAT) or the World Trade Organization (WTO ) . b ) a free trade zone . c) the World Bank . d) the Eximbank . e) All of these answers are correct