Question 1

In 2001,the WTO launched a new round of talks aimed at further liberalizing the global trade and investment framework.This was held at:

Accepted Answer

A)  Uruguay.
B)  Doha.
C)  Kyoto.
D)  Seattle.

Question 2

Supporters of globalization insist that dislocation in the form of lost jobs is a trade-off that will ultimately lead to the economy being better off.What is being they justified in this case?

Accepted Answer

A)  Protectionism
B)  Free trade
C)  Tax control
D)  Economic sanctions

Question 3

Which of the following statements is consistent with data from the World Trade Organization with regard to the volume of world merchandise trade?

Accepted Answer

A)  The volume of world trade has grown faster than the world economy since the 1950.
B)  Since the mid-1980s,the value of international trade in services has reduced considerably.
C)  More and more firms are assembling their products in one single nation to save costs and time.
D)  Firms are finding their home markets protected from foreign competitors.

Question 4

Which of the following demographic characteristic was in evidence as late as the 1960s?

Accepted Answer

A)  European nations accounted for three-fourth of the world economic output.
B)  Small U.S.entrepreneurial firms dominated the international business scene.
C)  The U.S.was the third most dominant industrial power behind Germany and the U.K.
D)  Roughly half the world was governed by centrally planned economies.

Question 5

As of 2008-09,the G20 works to:

Accepted Answer

A)  address the concerns of underdeveloped nations regarding the effects of globalization.
B)  formulate policies to counter hunger and poverty in underdeveloped nations of the world.
C)  provide a forum through which major nations attempted 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 and poverty in developing nations of the worlD.

Question 6

How has the WTO helped globalization of markets and production?

Accepted Answer

A)  It has made low-interest loans available to cash-strapped governments in poor nations.
B)  It required the borrowing nation-states to adopt specific economic policies aimed at economic growth.
C)  It sought to create a more open global business system unencumbered by barriers to trade and investment between countries.
D)  It has helped major nations to launch a coordinated policy response to the global financial crisis.

Question 7

How does the lowering of barriers to international trade help firms?

Accepted Answer

A)  It protects them from domestic competition.
B)  It allows them to view the world as their market.
C)  It drives up costs because they assemble their products in different countries.
D)  It puts a brake on globalization of both markets and production.

Question 8

Pollution levels for which of the following can be seen as rising steadily with higher income levels?

Accepted Answer

A)  Sulfur dioxide
B)  Lead
C)  Carbon dioxide
D)  Mercury

Question 9

Which of the following was NOT an outcome of the Uruguay Round of the GATT?

Accepted Answer

A)  Enforced high tariffs on imports of manufactured goods
B)  Extended GATT to cover services as well as manufactured goods
C)  Established the World Trade Organization
D)  Provided enhanced protection for patents,trademarks,and copyrights

Question 10

Why do many U.S.companies employ Indian software engineers to perform maintenance functions on software designed in the U.S.?

Accepted Answer

A)  It compresses the time and lowers the costs required to develop new software programs.
B)  It is in accordance with the treaty signed between the governments of the U.S.and India.
C)  It helps companies overcome the shortfall of qualified personnel in the U.S.
D)  It creates more low-skilled jobs in the U.S. ,resulting in better economic growth.

Question 11

What is a multinational enterprise? What have been the two most notable trends in multinational enterprises since the 1960s?

Accepted Answer

A multinational enterprise is any busine...

Question 12

Although early outsourcing efforts were primarily confined to _____,increasingly,companies are taking advantage of outsourcing for _____.

Accepted Answer

A)  healthcare;manufacturing
B)  manufacturing;services
C)  consulting;manufacturing
D)  manufacturing;agriculture

Question 13

The investing of resources in business activities outside a firm's home country is referred to as:

Accepted Answer

A)  third party outsourcing.
B)  divestment.
C)  speculative investment.
D)  foreign direct investment.

Question 14

A McDonald's restaurant was destroyed in August 1999 in France by antiglobalization protestors.Which of the following allegedly prompted this act?

Accepted Answer

A)  The protestors' disenchantment with democracy
B)  The erosion of French culture by American imperialism
C)  The success of the protestors in derailing the agenda of the WTO
D)  To protest the United States' military campaigns around the globe

Question 15

From 1970 to 2008,the volume of world merchandise trade expanded:

Accepted Answer

A)  5-fold.
B)  10-fold.
C)  2-fold.
D)  30-folD.

Question 16

Automobile companies promote different car models in different countries depending on a range of factors such as demographics,local taste,local fuel costs,income levels,traffic congestion,and cultural values.This demonstrates that:

Accepted Answer

A)  significant differences still exist among national markets.
B)  cultural diversity has been replaced by global uniformity.
C)  the global market is less complex than national markets.
D)  national markets are giving way to global markets.

Question 17

Opponents of globalization in advanced economies like the U.S.and Western Europe contend that:

Accepted Answer

A)  falling trade barriers allow firms to move manufacturing activities to countries where wage rates are much lower.
B)  levels of employment have risen due to influx of immigrants.
C)  the developed world is being pushed deeper into debt as a result of the growing economies of developing nations.
D)  political and military influence has decreased,resulting in a decline in economic supremacy.

Question 18

Many of the world's poorer nations,especially highly indebted poor countries (HIPCs),are being held back by large debt burdens.How can such nations emerge from the cycle of poverty and debt?

Accepted Answer

Many of the world's poorer nations,espec...

Question 19

Tastes and preferences of consumers in different nations are beginning to converge on some global norm.

Accepted Answer

A) True 
 B)False

Question 20

Most forecasts now predict a rapid rise in world output accounted for by developing nations such as China,India,and South Korea,and a relative decline in the share enjoyed by rich industrialized countries such as Britain and the United States.

Accepted Answer

A) True 
 B)False

Exam 1: Globalization

Which of the following demographic characteristic was in evidence as late as the 1960s?

Correct AnswerverifiedShow Answer

Many of the world's poorer nations,especially highly indebted poor countries (HIPCs),are being held back by large debt burdens.How can such nations emerge from the cycle of poverty and debt?

Correct AnswerverifiedMany of the world's poorer nations,espec...View AnswerShow Answer

From 1970 to 2008,the volume of world merchandise trade expanded:

Correct AnswerverifiedShow Answer

Although early outsourcing efforts were primarily confined to _____,increasingly,companies are taking advantage of outsourcing for _____.

Correct AnswerverifiedShow Answer

Opponents of globalization in advanced economies like the U.S.and Western Europe contend that:

Correct AnswerverifiedShow Answer

How has the WTO helped globalization of markets and production?

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How does the lowering of barriers to international trade help firms?

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The investing of resources in business activities outside a firm's home country is referred to as:

Correct AnswerverifiedShow Answer

A McDonald's restaurant was destroyed in August 1999 in France by antiglobalization protestors.Which of the following allegedly prompted this act?

Correct AnswerverifiedShow Answer

Which of the following was NOT an outcome of the Uruguay Round of the GATT?

Correct AnswerverifiedShow Answer

Tastes and preferences of consumers in different nations are beginning to converge on some global norm.

Correct AnswerverifiedShow Answer

Which of the following statements is consistent with data from the World Trade Organization with regard to the volume of world merchandise trade?

Correct AnswerverifiedShow Answer

Supporters of globalization insist that dislocation in the form of lost jobs is a trade-off that will ultimately lead to the economy being better off.What is being they justified in this case?

Correct AnswerverifiedShow Answer

As of 2008-09,the G20 works to:

Correct AnswerverifiedShow Answer

Automobile companies promote different car models in different countries depending on a range of factors such as demographics,local taste,local fuel costs,income levels,traffic congestion,and cultural values.This demonstrates that:

Correct AnswerverifiedShow Answer

Most forecasts now predict a rapid rise in world output accounted for by developing nations such as China,India,and South Korea,and a relative decline in the share enjoyed by rich industrialized countries such as Britain and the United States.

Correct AnswerverifiedShow Answer

What is a multinational enterprise? What have been the two most notable trends in multinational enterprises since the 1960s?

Correct AnswerverifiedA multinational enterprise is any busine...View AnswerShow Answer

Why do many U.S.companies employ Indian software engineers to perform maintenance functions on software designed in the U.S.?

Correct AnswerverifiedShow Answer

In 2001,the WTO launched a new round of talks aimed at further liberalizing the global trade and investment framework.This was held at:

Correct AnswerverifiedShow Answer

Pollution levels for which of the following can be seen as rising steadily with higher income levels?

Correct AnswerverifiedShow Answer

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Many of the world's poorer nations,espec...
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Although early outsourcing efforts were primarily confined to _,increasingly,companies are taking advantage of outsourcing for _.

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A multinational enterprise is any busine...
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