Question 1

Throughout the 1990s,the amount of investment directed at both developed and developing nations increased dramatically

Accepted Answer

A) True 
 B)False

Question 2

The IMF is less controversial than its sister institution,the World Bank.

Accepted Answer

A) True 
 B)False

Question 3

The 1993 Uruguay Round:

Accepted Answer

A)   increased the trade and investment barriers.
B)   excluded the trade of services from international trade.
C)   transformed the World Trade Organization into the GATT.
D)   provided enhanced protection for patents, trademarks, and copyrights.
E)   promoted the worldwide rise of communism.F) C) and D)
G) A) and B)

Question 4

Which of the following is a major reason for some of the world's poorest countries to have suffered from economic stagnation?

Accepted Answer

A)   Commitment to democratic government
B)   Rapidly expanding population
C)   Implementation of the economic policies that are based on free market economics
D)   Tough labor regulations
E)   Low barriers to foreign direct investmentF) A) and E)
G) A) and D)

Question 5

Which of the following statements is true about the global economy of the twenty first century?

Accepted Answer

A)   National economies are becoming less integrated into a single and interdependent economic system.
B)   The number of nations joining the ranks of the developed world has reduced.
C)   Countries have extensively adopted liberal economic policies.
D)   There are fewer instances of state-owned businesses privatized and markets being opened to more competition.
E)   The world is currently moving toward an economic system that is more unfavorable for international business.F) A) and E)
G) B) and E)

Question 6

The globalization of markets and production and the resulting growth of world trade,foreign direct investment,and imports all imply that firms are finding it easier to protect themselves from the attack of foreign competitors.

Accepted Answer

A) True 
 B)False

Question 7

Richard has recently purchased a computer for $600.Compared to the $900 computer which he had purchased way back in 2010,the new one seems to be more efficient in terms of the price he has paid and the power of the microprocessor technology.This phenomenon is best explained by:

Accepted Answer

A)   the law of demand.
B)   Campbell's law.
C)   Moore's law.
D)   the law of diminishing returns.
E)   Bowley's law.F) C) and E)
G) B) and E)

Question 8

In 2008-09,the G20 primarily worked to:

Accepted Answer

A)   address the concerns for human rights in sweatshops.
B)   formulate policies to counter hunger and poverty in underdeveloped nations of the world.
C)   provide a forum to launch a coordinated policy response to the global financial crisis.
D)   help create a unified action plan to counter the threat of global terrorism.
E)   render judgments on patent disputes submitted to it by member-states.F) A) and E)
G) B) and D)

Question 9

Discuss the arguments that are for and against globalization regarding jobs and income.

Accepted Answer

Globalization opponents argue that falli...

Question 10

The _____ has been a major force facilitating international trade in services.

Accepted Answer

A)   advent of containerization
B)   development of commercial jet aircraft
C)   retaliatory trade policies toward international trade in goods
D)   decline in the U.S. share of world output
E)   advent of the InternetF) C) and E)
G) C) and D)

Question 11

Which of the following statements is true about the changing demographics of the global economy?

Accepted Answer

A)   U.S. dominance in export markets has waned as Japan, Germany, and a number of newly industrialized countries have taken a larger share of world exports.
B)   The change in the position of the U.S. in terms of the share of world output is the result of the absolute decline in the health of the U.S. economy.
C)   From 1960 to 2010, countries that experienced a large decrease in their share of world output include Japan, Thailand, Malaysia, Taiwan, and South Korea.
D)   The United States is the only developed nation to see its relative standing in the share of world output slip.
E)   Today, roughly half the globe-the centrally planned economies of the communist world-is off-limits to Western international businesses.F) C) and D)
G) B) and E)

Question 12

The minimum that a firm has to do to engage in international business is to:

Accepted Answer

A)   export or import products from other countries.
B)   invest directly in operations in another country.
C)   establish joint ventures or strategic alliances with companies in other countries.
D)   export low-wage manufacturing jobs to companies in other countries.
E)   develop franchises and subsidiaries in other countries.F) A) and B)
G) B) and E)

Question 13

Which of the following has been declining in the developing nations of the world such as China,India,Russia,Indonesia,Thailand,South Korea,Mexico,and Brazil ?

Accepted Answer

A)   Economic opportunities for international trade
B)   Industrialization
C)   Contribution toward the share of world output
D)   The stock of foreign direct investment
E)   Barriers to the free flow of goods, services, and capitalF) B) and D)
G) A) and B)

Question 14

Globalization results in a greater degree of _____ across markets than would be present otherwise.

Accepted Answer

A)   regulatory control
B)   diversity
C)   homogeneity
D)   administrative barrier
E)   communismF) A) and B)
G) None of the above

Question 15

The real costs of information processing and communication have fallen dramatically in the past two decades.

Accepted Answer

A) True 
 B)False

Question 16

In the past quarter century,the volume of cross-border trade and investment has been growing less rapidly than global output.

Accepted Answer

A) True 
 B)False

Question 17

The _____ was established in 1945 by 51 countries committed to preserving peace through international cooperation and collective security.

Accepted Answer

A)   Greenpeace organization
B)   Amnesty International
C)   League of Nations
D)   United Nations
E)   G-20F) C) and E)
G) A) and C)

Question 18

The advent of containerization has:

Accepted Answer

A)   made the economies of the world's nation-states less intertwined.
B)   made moving goods from one mode of transport to another extremely labor-intensive.
C)   significantly lowered the costs of shipping goods over long distances.
D)   slowed down the globalization of markets and production.
E)   increased costs of coordinating and controlling a global organization.F) A) and B)
G) A) and E)

Question 19

One concern of globalization opponents is that it undermines the influence of supranational organizations and promotes the sovereignty of individual nation-states.

Accepted Answer

A) True 
 B)False

Question 20

As firms follow each other around the world,they bring with them many of the assets that served them well in other national markets.Thus,greater diversity replaces uniformity.

Accepted Answer

A) True 
 B)False

Exam 1: Globalization

The real costs of information processing and communication have fallen dramatically in the past two decades.

Correct AnswerverifiedShow Answer

As firms follow each other around the world,they bring with them many of the assets that served them well in other national markets.Thus,greater diversity replaces uniformity.

Correct AnswerverifiedShow Answer

The 1993 Uruguay Round:

Correct AnswerverifiedShow Answer

Throughout the 1990s,the amount of investment directed at both developed and developing nations increased dramatically

Correct AnswerverifiedShow Answer

In 2008-09,the G20 primarily worked to:

Correct AnswerverifiedShow Answer

The advent of containerization has:

Correct AnswerverifiedShow Answer

Which of the following has been declining in the developing nations of the world such as China,India,Russia,Indonesia,Thailand,South Korea,Mexico,and Brazil ?

Correct AnswerverifiedShow Answer

Which of the following statements is true about the global economy of the twenty first century?

Correct AnswerverifiedShow Answer

The _____ has been a major force facilitating international trade in services.

Correct AnswerverifiedShow Answer

In the past quarter century,the volume of cross-border trade and investment has been growing less rapidly than global output.

Correct AnswerverifiedShow Answer

Globalization results in a greater degree of _____ across markets than would be present otherwise.

Correct AnswerverifiedShow Answer

The _____ was established in 1945 by 51 countries committed to preserving peace through international cooperation and collective security.

Correct AnswerverifiedShow Answer

Which of the following statements is true about the changing demographics of the global economy?

Correct AnswerverifiedShow Answer

Which of the following is a major reason for some of the world's poorest countries to have suffered from economic stagnation?

Correct AnswerverifiedShow Answer

Discuss the arguments that are for and against globalization regarding jobs and income.

Correct AnswerverifiedGlobalization opponents argue that falli...View AnswerShow Answer

The IMF is less controversial than its sister institution,the World Bank.

Correct AnswerverifiedShow Answer

Richard has recently purchased a computer for $600.Compared to the $900 computer which he had purchased way back in 2010,the new one seems to be more efficient in terms of the price he has paid and the power of the microprocessor technology.This phenomenon is best explained by:

Correct AnswerverifiedShow Answer

One concern of globalization opponents is that it undermines the influence of supranational organizations and promotes the sovereignty of individual nation-states.

Correct AnswerverifiedShow Answer

The globalization of markets and production and the resulting growth of world trade,foreign direct investment,and imports all imply that firms are finding it easier to protect themselves from the attack of foreign competitors.

Correct AnswerverifiedShow Answer

The minimum that a firm has to do to engage in international business is to:

Correct AnswerverifiedShow Answer

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Globalization opponents argue that falli...
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