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WGU C211 focus questions from Global Economics for Managers Test Bank
2022/2023
1.Globalization can be viewed as>> 1. a new force sweeping through the world in recent times.
2.a long-run historical evolution since the dawn of human history.
3.a pendulum that swings from one extreme to another from time to time.
2.Which are the three views of globalization>> A recent force, a long- running evolution, and a pendulum 3.An import quota is>> restriction on the quantity of imports that can be brought into a country.
4.Examples of nontariff trade barrier (NTB)>> Import quotas Local content requirements Subsidies 1 / 4
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5.Free trade is defined as>> The idea that market forces should determine how much to trade with little or no government intervention.
6.political argument against free trade>> Consumer protection National security Environmental and social responsibility 7.To express its opposition to the political regime in Myanmar, the United States has banned the importation of jade and other gemstones from that country. This is an example of a>> trade embargo 8.The primary political views on FDI are>> Free market and pragmatic national- ism 9.Firms can increase their chances of success with FDI by>> 1.assessing whether FDI is justified, in light of other options.
2.understanding that political realities either facilitate or constrain FDI.
3.leveraging OLI advantages in a way that is valuable, unique, and hard to imitate by rival firms.
- How do firms create value when engaging rivals>> 1. Secure patents
on key products.
2.All of these 2 / 4
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3.Launch products in multiple markets.
4.Hold a dominant position in key markets.
11.The theory of comparative advantage was advocated by>> David Ricardo 12.The modern trade theories include the following>> 1. Theory of product life cycle 3 / 4
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2.Theory of national competitive advantage of industries 3.Theory of strategic trade 13.The theory of mercantilism>> views international trade as a zero-sum game.
14.According to the theory of absolute advantage, under free trade>> each nation gains by specializing in economic activities in which a nation has absolute advantage 15.comparative advantage>> the ability to produce a good at a lower opportunity cost than another producer 16.Absolute Advantage>> The economic advantage one nation enjoys that is absolutely superior to other nations.
17.Strategic trade theory>> A theory that suggests that strategic intervention by governments in certain industries can enhance their odds for international success.
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