Question 1

According to critics of globalization, today's interdependent global economy limits a nation's national sovereignty.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a risk associated with globalization?

Accepted Answer

A)   Restrictions on competition
B)   Global financial contagion
C)   Excessive market regulation
D)   Differentiation of markets

Question 3

The most global markets currently are markets for consumer products.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following has enabled globalization of markets?

Accepted Answer

A)   Marginal differentiation among national markets
B)   Falling barriers to cross border trade
C)   Reduced homogeneity of material culture across the world
D)   Increased government ownership of factors of production

Question 5

A firm does not have to become a multinational enterprise to engage in international business.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is a consequence of globalization?

Accepted Answer

A)   Decreasing interdependence between national economies
B)   Increasing outsourcing of services
C)   Differentiation of material culture
D)   Increase in barriers to cross-border trade

Question 7

The World Bank has focused on policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties.

Accepted Answer

A) True 
 B)False

Question 8

The shift toward a more integrated and interdependent world economy is referred to as _____.

Accepted Answer

A)   outsourcing
B)   international marketing
C)   privatization
D)   globalization

Question 9

A U.S. investment firm, Fin-Smart, set up a customer service call center in India to take advantage of the lower labor costs. This is called ____.

Accepted Answer

A)   homogenizing markets
B)   vertical integration
C)   international outsourcing
D)   horizontal integration

Question 10

Which of the following is true of the IMF?

Accepted Answer

A)   It is often seen as the lender of first choice to nation-states whose economies are in turmoil.
B)   Its loans come with no strings attached.
C)   It is the less controversial of the two sister institutions, the IMF and the World Bank.
D)   It has emerged as a significant player in the global economy.

Question 11

The World Trade Organization has estimated that the developed nations of the world can raise global economic welfare by $128 billion by:

Accepted Answer

A)   removing subsidies given to their agricultural producers.
B)   increasing tariff barriers to trade in agriculture.
C)   increasing outsourcing of manufacturing processes.
D)   reducing defense expenditure.

Question 12

Globalization of markets results in markets becoming _____.

Accepted Answer

A)   more interdependent
B)   less diverse
C)   more protected
D)   less competitive

Question 13

Between 1960 and 2013, the U.S. share of world exports of goods and services:

Accepted Answer

A)   has increased from 9.7% to 38.3%.
B)   has decreased from more than 20% to 9.7%.
C)   has slipped to second place, behind only Japan.
D)   although in decline, has remained in first place with China a close second.

Question 14

The Uruguay Round, finalized in December 1993, reduced protection for patents, trademarks, and copyrights.

Accepted Answer

A) True 
 B)False

Question 15

The World Trade Organization promotes the:

Accepted Answer

A)   lowering of barriers to cross-border trade and investment.
B)   development of poor nations through low-interest loans.
C)   state ownership of major enterprises.
D)   regulation of national economies.

Exam 1: Globalization

Which of the following is a risk associated with globalization?

Correct Answer
verified

The Uruguay Round, finalized in December 1993, reduced protection for patents, trademarks, and copyrights.

Correct Answer
verified

Between 1960 and 2013, the U.S. share of world exports of goods and services:

Correct Answer
verified

The World Bank has focused on policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties.

Correct Answer
verified

The most global markets currently are markets for consumer products.

Correct Answer
verified

Which of the following is a consequence of globalization?

Correct Answer
verified

Globalization of markets results in markets becoming _____.

Correct Answer
verified

A firm does not have to become a multinational enterprise to engage in international business.

Correct Answer
verified

Which of the following has enabled globalization of markets?

Correct Answer
verified

According to critics of globalization, today's interdependent global economy limits a nation's national sovereignty.

Correct Answer
verified

The shift toward a more integrated and interdependent world economy is referred to as _____.

Correct Answer
verified

The World Trade Organization promotes the:

Correct Answer
verified

The World Trade Organization has estimated that the developed nations of the world can raise global economic welfare by $128 billion by:

Correct Answer
verified

A U.S. investment firm, Fin-Smart, set up a customer service call center in India to take advantage of the lower labor costs. This is called ____.

Correct Answer
verified

Which of the following is true of the IMF?

Correct Answer
verified

Exam 1: Globalization

Which of the following is a risk associated with globalization?

Correct AnswerverifiedShow Answer

The Uruguay Round, finalized in December 1993, reduced protection for patents, trademarks, and copyrights.

Correct AnswerverifiedShow Answer

Between 1960 and 2013, the U.S. share of world exports of goods and services:

Correct AnswerverifiedShow Answer

The World Bank has focused on policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties.

Correct AnswerverifiedShow Answer

The most global markets currently are markets for consumer products.

Correct AnswerverifiedShow Answer

Which of the following is a consequence of globalization?

Correct AnswerverifiedShow Answer

Globalization of markets results in markets becoming _____.

Correct AnswerverifiedShow Answer

A firm does not have to become a multinational enterprise to engage in international business.

Correct AnswerverifiedShow Answer

Which of the following has enabled globalization of markets?

Correct AnswerverifiedShow Answer

According to critics of globalization, today's interdependent global economy limits a nation's national sovereignty.

Correct AnswerverifiedShow Answer

The shift toward a more integrated and interdependent world economy is referred to as _____.

Correct AnswerverifiedShow Answer

The World Trade Organization promotes the:

Correct AnswerverifiedShow Answer

The World Trade Organization has estimated that the developed nations of the world can raise global economic welfare by $128 billion by:

Correct AnswerverifiedShow Answer

A U.S. investment firm, Fin-Smart, set up a customer service call center in India to take advantage of the lower labor costs. This is called ____.

Correct AnswerverifiedShow Answer

Which of the following is true of the IMF?

Correct AnswerverifiedShow Answer

Correct Answer
verified

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