Question 1

Michelle,an Italian fashion designer,sells her merchandise by exporting it to the United States,United Kingdom,and Brazil.According to this information,Michelle is most likely involved in

Accepted Answer

A)  foreign direct investment.
B)  globalization of production.
C)  international trade.
D)  multinational enterprise.
E)  outsourcing.F) None of the above
G) D) and E)

Question 2

The United States accounted for a significantly larger share of the world output in 2014 than it did in the 1960s.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following statements supports the claim that the gap between the rich and poor nations of the world has gotten wider because of globalization?

Accepted Answer

A)  There are many countries that suffer from totalitarian governments.
B)  A quarter of the countries with a GDP per capita of less than $1,000 in 1960 had growth rates of less than zero from 1960 to 1995.
C)  There is a rapidly growing population in many developing nations.
D)  Unelected bureaucrats limit a nation's ability to control its own destiny.
E)  Endemic corruption has long been a problem in the national governments of developing nations.F) A) and E)
G) B) and C)

Question 4

Ryan is the executive general manager of a U.S.-based multinational corporation.Veronica is a manager in a similar position,but works for an American company that operates only in the U.S.and does not engage in international business.In this context,which of the following business functions will be most typically exclusive to Ryan?

Accepted Answer

A)  Marketing a product or service
B)  Maintaining healthy relations with the U.S.government
C)  Developing a business strategy
D)  Adhering to labor and environmental standards
E)  Choosing an appropriate mode for entering a particular foreign countryF) C) and D)
G) A) and C)

Question 5

Which of the following is most likely to be observed in today's global economy?

Accepted Answer

A)  increasing U.S.share of world output
B)  large U.S.entrepreneurial firms dominating the international business scene
C)  increasing U.S.dominance in the world economy and world trade picture
D)  most of the nations being governed by centrally planned economies of the communist world
E)  continued rise in the share of world output accounted for by developing nations such as China and IndiaF) A) and C)
G) None of the above

Question 6

Explain the factors that led to the Great Depression of the 1930s.

Accepted Answer

During the 1920s and 1930s,many of the w...

Question 7

Gerald bought his son,David,a computer two years ago.Recently,he decided to buy his daughter,Julian,a computer of her own.In the context of the two-year gap between the purchase of both the computers and Moore's law,it is most likely that

Accepted Answer

A)  Gerald paid a higher price for Julian's computer.
B)  David's computer will have a microprocessor with better power than that of Julian's.
C)  both David's and Julian's computers would cost Gerald the same price.
D)  the microprocessor in Julian's computer will be more advanced in terms of power than that of David's.
E)  the power of the microprocessors,in both David and Julian's computers,would be the same.F) A) and E)
G) C) and D)

Question 8

Which of the following reasons contributed to the Great Depression of the 1930s?

Accepted Answer

A)  Inability to meet the increasing world demand for products
B)  Several countries accepting the General Agreement on Tariffs and Trade
C)  Increasing attack from foreign competitors on domestic industries
D)  Privatization of state-owned organizations
E)  Countries progressively raising trade barriers against each otherF) D) and E)
G) A) and B)

Question 9

Despite all the talk about the emerging global village,differences between countries,such as differences in cultures and political systems,can be very profound and enduring.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following services CANNOT be outsourced to foreign nations?

Accepted Answer

A)  debugging software
B)  handling consumer queries
C)  transcribing medical files
D)  interpreting MRI scans
E)  delivering closing arguments for a lawsuitF) All of the above
G) C) and D)

Question 11

Moore's law predicts,that every 18 months,the power of microprocessor technology decreases,while its cost of production increases.

Accepted Answer

A) True 
 B)False

Question 12

The North American Free Trade Agreement (NAFTA) was formed in 1994 among

Accepted Answer

A)  Canada,Mexico,and the United States.
B)  the United States,Brazil,and Argentina.
C)  Canada,Argentina,and Mexico.
D)  Colombia,Venezuela,and Brazil.
E)  Uruguay,Colombia,and Costa Rica.F) B) and E)
G) A) and E)

Question 13

Containerization has revolutionized the transportation business,significantly lowering the costs of shipping goods over long distances.

Accepted Answer

A) True 
 B)False

Question 14

Foreign direct investment (FDI)occurs when a firm invests resources in business activities outside its home country.

Accepted Answer

A) True 
 B)False

Question 15

Richard purchased a computer for $600 in 2015.Compared to the $900 computer that he had purchased back in 2011,the new one seems to be more efficient in terms of the price he has paid and the power of the microprocessor technology.This is best explained by

Accepted Answer

A)  product liability.
B)  property rights.
C)  Moore's law.
D)  purchasing power parity.
E)  sustainable strategies.F) D) and E)
G) A) and E)

Question 16

A firm has to become a multinational enterprise to engage in international business.

Accepted Answer

A) True 
 B)False

Question 17

Growing income inequality between the skilled and unskilled workers in advanced nations,such as the United States,is a result of the

Accepted Answer

A)  wages for skilled workers being bid up by the labor market and the wages for unskilled workers being discounted.
B)  decrease in the outsourcing of low-wage manufacturing jobs offshore and a corresponding increase in demand for unskilled workers.
C)  shift within advanced economies toward jobs where the only qualification is the willingness to turn up for work every day.
D)  increasing wage gap between developing and developed nations.
E)  shortage of unskilled workers and an excess supply of highly skilled workers.F) B) and C)
G) A) and E)

Question 18

While the lowering of trade barriers made globalization of markets and production a theoretical possibility,which of the following has made it a tangible reality?

Accepted Answer

A)  the advances in communication,information processing,and transportation technologies
B)  the rise of communism and the need for independent economies on a global scale
C)  the increasing diversity in consumer tastes and preferences worldwide
D)  the increasing differences in the material culture the world over
E)  the decreasing significance of the World Trade OrganizationF) A) and B)
G) A) and E)

Question 19

Which of the following has been reduced as a result of globalization?

Accepted Answer

A)  Volume of goods and services
B)  Foreign exchange transactions
C)  Environment and labor laws
D)  Differences in material culture
E)  Regulation of marketsF) A) and D)
G) A) and C)

Exam 1: Globalization

Moore's law predicts,that every 18 months,the power of microprocessor technology decreases,while its cost of production increases.

Correct Answer
verified

Michelle,an Italian fashion designer,sells her merchandise by exporting it to the United States,United Kingdom,and Brazil.According to this information,Michelle is most likely involved in

Correct Answer
verified

A firm has to become a multinational enterprise to engage in international business.

Correct Answer
verified

Foreign direct investment (FDI)occurs when a firm invests resources in business activities outside its home country.

Correct Answer
verified

Which of the following has been reduced as a result of globalization?

Correct Answer
verified

Which of the following reasons contributed to the Great Depression of the 1930s?

Correct Answer
verified

Correct Answer
verified

Containerization has revolutionized the transportation business,significantly lowering the costs of shipping goods over long distances.

Correct Answer
verified

Richard purchased a computer for $600 in 2015.Compared to the $900 computer that he had purchased back in 2011,the new one seems to be more efficient in terms of the price he has paid and the power of the microprocessor technology.This is best explained by

Correct Answer
verified

Growing income inequality between the skilled and unskilled workers in advanced nations,such as the United States,is a result of the

Correct Answer
verified

Despite all the talk about the emerging global village,differences between countries,such as differences in cultures and political systems,can be very profound and enduring.

Correct Answer
verified

Which of the following statements supports the claim that the gap between the rich and poor nations of the world has gotten wider because of globalization?

Correct Answer
verified

Which of the following services CANNOT be outsourced to foreign nations?

Correct Answer
verified

Gerald bought his son,David,a computer two years ago.Recently,he decided to buy his daughter,Julian,a computer of her own.In the context of the two-year gap between the purchase of both the computers and Moore's law,it is most likely that

Correct Answer
verified

Which of the following is most likely to be observed in today's global economy?

Correct Answer
verified

Explain the factors that led to the Great Depression of the 1930s.

Correct Answer
verified
During the 1920s and 1930s,many of the w...
View Answer

While the lowering of trade barriers made globalization of markets and production a theoretical possibility,which of the following has made it a tangible reality?

Correct Answer
verified

The North American Free Trade Agreement (NAFTA) was formed in 1994 among

Correct Answer
verified

The United States accounted for a significantly larger share of the world output in 2014 than it did in the 1960s.

Correct Answer
verified

Exam 1: Globalization

Moore's law predicts,that every 18 months,the power of microprocessor technology decreases,while its cost of production increases.

Correct AnswerverifiedShow Answer

Michelle,an Italian fashion designer,sells her merchandise by exporting it to the United States,United Kingdom,and Brazil.According to this information,Michelle is most likely involved in

Correct AnswerverifiedShow Answer

A firm has to become a multinational enterprise to engage in international business.

Correct AnswerverifiedShow Answer

Foreign direct investment (FDI)occurs when a firm invests resources in business activities outside its home country.

Correct AnswerverifiedShow Answer

Which of the following has been reduced as a result of globalization?

Correct AnswerverifiedShow Answer

Which of the following reasons contributed to the Great Depression of the 1930s?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Containerization has revolutionized the transportation business,significantly lowering the costs of shipping goods over long distances.

Correct AnswerverifiedShow Answer

Richard purchased a computer for $600 in 2015.Compared to the $900 computer that he had purchased back in 2011,the new one seems to be more efficient in terms of the price he has paid and the power of the microprocessor technology.This is best explained by

Correct AnswerverifiedShow Answer

Growing income inequality between the skilled and unskilled workers in advanced nations,such as the United States,is a result of the

Correct AnswerverifiedShow Answer

Despite all the talk about the emerging global village,differences between countries,such as differences in cultures and political systems,can be very profound and enduring.

Correct AnswerverifiedShow Answer

Which of the following statements supports the claim that the gap between the rich and poor nations of the world has gotten wider because of globalization?

Correct AnswerverifiedShow Answer

Which of the following services CANNOT be outsourced to foreign nations?

Correct AnswerverifiedShow Answer

Gerald bought his son,David,a computer two years ago.Recently,he decided to buy his daughter,Julian,a computer of her own.In the context of the two-year gap between the purchase of both the computers and Moore's law,it is most likely that

Correct AnswerverifiedShow Answer

Which of the following is most likely to be observed in today's global economy?

Correct AnswerverifiedShow Answer

Explain the factors that led to the Great Depression of the 1930s.

Correct AnswerverifiedDuring the 1920s and 1930s,many of the w...View AnswerShow Answer

While the lowering of trade barriers made globalization of markets and production a theoretical possibility,which of the following has made it a tangible reality?

Correct AnswerverifiedShow Answer

The North American Free Trade Agreement (NAFTA) was formed in 1994 among

Correct AnswerverifiedShow Answer

The United States accounted for a significantly larger share of the world output in 2014 than it did in the 1960s.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
During the 1920s and 1930s,many of the w...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified