C211 Second OA quizzes

C211 Second OA quizzes 14 studiers today Leave the first rating Students also studied Terms in this set (209) Western Governors UniversityC 214 Save

PRE-ASSESSMENT: GLOBAL ECON...

49 terms poo724Preview WGU C215 Study Guide - FINAL 218 terms kenneth4831Preview

Pre-Assessment: Global Economics ...

50 terms stoltzfus_natalie Preview WGU C 144 term Lola The term "emerging economies" has replaced the term

_____.

Developing countries The gross domestic product plus the income from non- resident sources abroad gives the ____.gross national product More than 25% of global GDP comes from _____. BRICS countries Viewing the global economy as a pyramid, the Triad refers to _____.North America, Western Europe, and Japan People who earn _____ a year comprise the base of the global economic pyramid.less than $2,000 Which of the following would be an example of a top down innovation?Lowering prices and features of existing products to meet emerging market needs Which of the following is true of the Group of 20 (G-20)? It only has 19 member countries.Which of the following does the institution-based view of global business lay emphasis on?Understanding the laws and values of the firm's host nation.The resource-based view of global business differs from the institution-based view of global business in that the resource-based view _____.focuses on the internal strengths on the firm The liability of foreignness is the inherent disadvantage faced by _____.foreign firms in host nations due to their non-native status

Which of the following is true of globalization according to the "new force" perspective?It is a western ideology focused on exploiting and dominating the world through MNEs The concept of _____ suggests that barriers to market integration at borders are high, but not high enough to completely insulate countries from each other.Semiglobalization The strategy of treating each country as a unique market and in total isolation is referred to as _____.Localization MNEs from the Triad dominate the list of the 500 largest MNEs; their share has been _____.Shrinking A conversion that determines the equivalent amount of goods and services that different currencies can buy is known as _____.purchasing power parity Which of the following countries would be characterized as an emerging economy?Brazil Which of the following countries is represented in the Triad of the global economic pyramid?Japan People who earn _____ a year comprise the base of the global economic pyramid.less than $2,000 A _____ is defined as an innovation that is adopted first in emerging economies and then diffused around the world.reverse innovation The _____ view suggests that the success and failure of firms are largely determined by their environments.institution-based The _____ view of global business focuses on internal factors that can help a firm overcome its external environment.resource-based Which of the following is true of globalization according to the "pendulum view" perspective?Globalization is a not a one-directional phenomenon The concept of _____ suggests that barriers to market integration at borders are high, but not high enough to completely insulate countries from each other.semiglobalization _____ is the strategy of treating the entire world as one market.Standardization Protectionism is similar to mercantilism as they both advocated _____.government involvement in international trade

The _____ principle advocated that governments should actively protect domestic industries from imports and vigorously promote exports.Protectionism Which of the following is a modern trade theory? National competitive advantage Which of the following trade theories divides the nations of the world into three categories?Product life cycle Which of the following was the first international trade theory to account for changes in the patterns of trade over time?Product life cycle theory In the third stage of the product life cycle theory, the _____.product is standardized Which of the following describes resource mobility as assumed by the classical theories of international trade?It is the assumption that a resource used in producing a product for one industry can be shifted and put to use in another industry The theory of comparative advantage _____.explains patterns of trade based on factor endowments Deadweight costs are net losses that occur when _____ are imposed.import tariffs _____ are government payments to domestic firms. Subsidies Which of the following is true of voluntary export restraints?It is an export quota levied by a country on the quantity of its exports._____ are tariffs levied on imports sold below costs to drive domestic firms out of business.Antidumping duties FPI refers to the _____.investment in a portfolio of foreign securities that do not entail the active management of foreign assets A vertical FDI refers to a type of FDI in which _____. a firm moves upstream or downstream at different value chain stages in a host country _____ refers to the total accumulation of inbound FDI in a country or outbound FDI from a country.FDI stock OLI advantages refer to a firm's quest for _____via FDI. ownership advantages, location advantages, and internalization advantages ____ refers to the replacement of cross-border markets with one firm locating in two or more countries.Internalization Firms prefer FDI to licensing because FDI_____. provides the firm with direct ownership to its foreign assets _____ refers to the clustering of economic activities in certain locations.Agglomeration

The television industry in the United States is controlled

by seven giant corporations: The Walt Disney Company,

CBS Corporation, Viacom, Comcast, Hearst Corporation, Time Warner, and News Corporation. Thus, the television industry in the U.S. is a typical _____ industry.Oligopolistic Which of the following economic perspectives on FDI has its principles rooted in Marxism?The radical view Which of the following is a benefit of FDI to home countries?Learning from operations _____ refers to the deal struck by MNEs and host governments, which change their requirements after the initial FDI entry.Obsolescing bargain Costs that a firm has to endure even when its investment turns out to be unsatisfactory are referred to as _____.sunk costs A _____ is the price of one currency, such as the dollar, in terms of another, such as the euro.foreign exchange rate Which of the following conditions will attract foreign funds into a country?If the country's interest rate is relatively high compared to other countries _____ is a country's international transaction statement, which includes merchandise trade, service trade, and capital movement.Balance of payments Which of the following types of exchange rate policies is apt for a pure free market economy?Clean float

The fixing of East and West Germany's currencies at a 1:1

ratio to each other during the German unification in 1990 is an example of a _____.fixed exchange rate policy In foreign exchange, a(n) _____ is said to have occurred when investors move in the same direction at the same time, like a herd.bandwagon effect Between 1870 and 1914, the value of most major currencies was maintained by fixing their prices in terms of _____.Gold Which of the following was true of the Bretton Woods system?All currencies were pegged at a fixed rate to the dollar.The weight a member country carries within the IMF, which determines the amount of its financial contribution, its capacity to borrow from the IMF, and its voting power is referred to as a(n) _____.Quota