Global Business - FVC1 (All of the Practice Quizzes in MindTap) with COMPLETE SOLUTION 225 Questions with 100% Correct Answers

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Globalization encompasses the socio-economic reform process of eliminating trade, investment, cultural, information technology, and political barriers across countries, which could lead to increased ... economic growth and geo-political integration and interdependence among nations of the world. a. True b. False - ✔✔Ch. 1 - True Globalization has always been and always will remain another word for "Westernization." a. True b. False - ✔✔Ch. 1 - False Today, reconstruction and restructuring economies to make them efficient remain a major role of the World Bank, along with poverty reduction. a. True b. False - ✔✔Ch. 1 - True An important role of successful institutions includes defining property rights and contracts and determining who gets what and when. a. True b. False - ✔✔Ch. 1 - True In market economies, governments maximize the role of state-owned enterprises, which makes them more likely to impose wage and price controls. a. True b. False - ✔✔Ch. 1 - FalseWhich of the following is a major global concern, especially to international organizations such as the International Monetary Fund, the World Bank, and the World Trade Organization? a. The increase in the number of humans inhabiting the planet b. Lack of adequate amounts of drinking water in underdeveloped countries c. The spread of the AIDS virus d. Nationalist or protectionist policies that curtail world trade e. Lack of adequate supplies of food in underdeveloped countries - ✔✔Ch. 1 - D The dawn of globalization can be traced back to the ________ century. a. 16th b. 20th c. 21st d. 15th e. 18th - ✔✔Ch. 1 - D OECD refers to which of the following? a. OPEC Equal Country Development b. Organization for Excellent Country Diversity c. Organization for Economic Cooperation and Development d. Outside Economic Country Diversity e. Outside Economic Country Development - ✔✔Ch. 1 - C The international institution that facilitates the global system of exchange rates and international payments that enables countries and their citizens to buy goods and services from each other is ________. a. the International Development Association b. the Multilateral Investment Guarantee Agency c. the World Trade Organization d. the World Bank e. the International Monetary Fund - ✔✔Ch. 1 - EWhich of the following is NOT a developmental institution closely associated with the World Bank? a. IDA b. OEDC c. IBRD d. IFC e. MIGA - ✔✔Ch. 1 - B The International Development Association performs which of the following functions? a. Provides long-term low-interest social sector and infrastructure loans to the poorest members utilizing foreign aid funds provided by rich nation members b. Provides political risk coverage for private investments made in developing countries c. Works on issues related to foreign investment disputes d. Supports reconstruction and restructuring of member countries utilizing funds raised in international capital markets e. Provide loans and take equity position in private companies of developing countries and works toward developing capital markets in those economies - ✔✔Ch. 1 - A Economic policy changes that promote private sector development, competitive markets, marketpricing, freer trade, and deregulation is (are) called economic ________. a. developments b. reforms c. reounts d. trade regulations e. altercations - ✔✔Ch. 1 - B In USA, there are national laws aimed at maintaining competition in all sectors of the economy and preventing monopolistic behavior of firms. These are called ________ laws. a. accountability b. antitrustc. transparency d. SWOT e. emerging market - ✔✔Ch. 1 - B The period of transformation that adjusts lifestyles to make the Internet and wireless technologies part of everyday life is called ________. a. bandwith b. the digital era c. the digital divide d. Y2K time e. the technological adjustment period - ✔✔Ch. 1 - B Economic development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs, whether environmentally, socially, o economically is referred to as ________ development. a. moral b. green c. next-generation d. sustainable e. ethical - ✔✔Ch. 1 - D Unfortunately, research finds that the losses from open trade and investment are always greater than the gains. a. True b. False - ✔✔Ch. 2 - False Among middle-income countries, China, has been consistently attracting the largest amount of FDI because of its well-developed infrastructure and its emerging position as the low-cost manufacturing center of the world. a. True b. False - ✔✔Ch. 2 - TrueFactor price equalization is a theory of international trade that supports the premise that a nation could only gain from trade if it had a trade surplus. a. True b. False - ✔✔Ch. 2 - False Trade policy refers to all government actions that seek to alter the free flow of merchandise or services from or to a country. a. True b. False - ✔✔Ch. 2 - True In countertrade, an exporter of goods or services to another country commits to import goods or services of corresponding value from that country. [Show More]

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