WGU C211 Global Economics for Managers Exam 4 (Latest 2023 - 2024)
New Full Exam Questions and Answers ( Included ) 100% Correct
- Views on Globalization
Answer: New, Evolutionary, and Pendulum
- "New" view on globalization
Answer: A force sweeping through the world in recent times.
- "Evolutionary" view on globalization
Answer: A long-run historical evolution since the dawn of human history
- "Pendulum" view on globalization
Answer: One that swings from one extreme to another from time to time
5. Foreign Direct Investment:
Answer Direct investment in, control, and management of value-added activities in other countries
- Political views on FDI
Answer: Radical View, Free Market View, Pragmatic Nationalism
- Benefits to a country receiving FDI
Answer: Capital Inflow, Technology Spillover, Advanced Management Know-How,
Job creation
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- Costs to a country receiving FDI
Answer: Loss of Sovereignty, Adverse effects on competition,Capital outflow.
- How do resources and capabilities influence the competitive dynamics of a
business?
Answer: Resource similarity and market commonality can yield a powerful
framework for competitor analysis.
- Resource similarity
Answer: The extent to which a given competitor possesses strategic endowment
comparable, in terms of both type and amount, to those of the focal firm.
- How does resource similarity impact competitive dynamics?
Answer: Firms with a high degree are likely to have similar competitive actions.(Starbuck's instant coffee & McDonald's iced coffee)
- Classical theories of international trade
Answer: Mercantilism, Absolute advantage, and Comparative advantage
- Modern theory view
Answer: Dynamic
- Classical theory view
Answer: Static
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- Absolute advantage
Answer: The economic advantage one nation enjoys that is superior to other nations
- Comparative advantage
Answer: The advantage one economic activity nation enjoys in comparison with
other nations (relative, not absolute)
- Mercantilism
Answer: A theory that suggests that the wealth of the world is fixed and that a nation that exports more and imports less will be richer.
- Features of the product life cycle?
Answer: New, Maturing, and Standardized
- Strategic trade
Answer: Intervention by governments in certain industries can enhance their odds for international success.
- How are supply and demand related to the exchange rate of a country?-
Answer: The price of a commodity, a country's currency, is fundamentally
determined by this. Strong demand leads to price hikes; oversupply results in price drops.
- Which theory came first?
Answer: Mercantilism (although both are of the idea that governments should
actively protect domestic industries from imports and vigor ously promote exports)
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