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Discuss how supporters and opponents of globalization regard its effect on jobs and income.

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Globalization opponents argue that falli...

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Which of these companies is taking advantage of the globalization of production?


A) Daily Diamonds, an American jewelry manufacturer, buys diamonds from South Africa and exports them to India for the cutting process.
B) Evan Swan, a U.S.-based fashion designer, is planning to open a flagship store in China to serve the Asian market.
C) Uncle Crab, a U.K. fast food chain, serves customers worldwide through its local franchises.
D) Silver Unicorn Inc. uses sales personnel from the respective host country to sell its products and services.
E) Pizza Gallery, an Italian pizza chain, customizes its pizzas and pastas to suit the tastes of its American and Australian customers.

F) A) and E)
G) A) and B)

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How is managing an international business different from managing a purely domestic business?

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Managing an international business is di...

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To truly benefit from globalization, a firm needs to be a multinational conglomerate rather than a small or mid-size company.

A) True
B) False

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What are the various reasons for economic stagnation in many of the world's poorest countries?

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Many of the world's poorest countries ha...

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What country in Latin America has seen a significant expansion in their economy in the past two decades?


A) Argentina
B) Peru
C) Chile
D) Paraguay
E) Panama

F) D) and E)
G) B) and C)

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Containerization has revolutionized the transportation business, significantly lowering the costs of shipping goods over long distances.

A) True
B) False

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Free trade alone, some argue, is a necessary but not sufficient prerequisite to help "highly indebted poorer countries" (HIPCs) bootstrap themselves out of poverty. They also recommend implementing


A) a highly regulated command economy.
B) weaker property rights laws.
C) weaker labor regulations.
D) large-scale debt relief.
E) rapid expansion in population.

F) B) and D)
G) D) and E)

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In today's marketplace, outsourcing efforts are confined to manufacturing activities.

A) True
B) False

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The stock of foreign direct investment refers to the total cumulative value of foreign investments.

A) True
B) False

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Sun-Jun is the executive general manager of a U.S.-based multinational corporation. Marisol is a manager in a similar position but works for an American company that operates only in the U.S. and does not engage in international business. In this context, which business function will be most typically exclusive to Sun-Jun?


A) marketing a product or service
B) maintaining healthy relations with the U.S. government
C) developing a business strategy
D) adhering to labor and environmental standards
E) choosing an appropriate mode for entering a particular foreign country

F) A) and E)
G) A) and D)

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What is implied by the fact that in today's marketplace, the volume of world trade has been growing faster than world GDP?


A) More companies are relying on domestic firms to obtain parts of their production process.
B) The economies of the world's nation-states are becoming less intertwined.
C) More companies are dispersing parts of their production process to locations around the globe.
D) The world has experienced a loss of overall wealth in the last two decades.
E) More countries are imposing trade barriers to minimize competition.

F) A) and D)
G) A) and C)

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While the lowering of trade barriers made globalization of markets and production a theoretical possibility, what has made it a tangible reality?


A) the advances in communication, information processing, and transportation technologies
B) the rise of communism and the need for independent economies on a global scale
C) the increasing diversity in consumer tastes and preferences worldwide
D) the increasing differences in the material culture the world over
E) the decreasing significance of the World Trade Organization

F) B) and E)
G) B) and C)

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What is acting as a deterrent for foreign firms willing to do business with former communist nations of Eastern Europe and central Asia?


A) high levels of economic development in these countries
B) signs of growing unrest and totalitarian tendencies seen in these countries
C) strong commitment to market-based economic systems seen in these countries
D) collapse of communism in these countries
E) low returns involved in doing business in these countries

F) A) and E)
G) D) and E)

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Econometric studies show a hump-shaped relationship between income levels and pollution levels. Which of these statements reflects that relationship?


A) As an economy grows and income levels rise, initially pollution levels also rise.
B) Decreasing income levels lead to an increase in pollution levels.
C) As an economy grows, pollution levels show a constant increase.
D) Economies that are in turmoil reflect pollution levels that are diminishing.
E) Income levels do not have any correlation with pollution levels.

F) D) and E)
G) A) and B)

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One advancement that has lowered the barriers many small firms face when building international sales is


A) containerization.
B) JIT inventory systems.
C) government-imposed quotas.
D) air and railway systems.
E) the Internet.

F) A) and D)
G) A) and B)

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What is globalization? Explain, with examples, how global companies can facilitate the creation of a global market.

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Globalization refers to the shift toward...

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The stock of foreign direct investment refers to


A) the purchasing power associated with current investments.
B) the ability to leverage FDI when negotiating with a foreign entity.
C) the total cumulative value of foreign investments as a percentage of a country's GDP.
D) the value of foreign investment when accounting for tariffs and other government-imposed costs.
E) the number of foreign investments a company has compared to the number of domestic investments.

F) B) and D)
G) B) and C)

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According to globalization opponents, what has increased in wealthy advanced economies as a result of globalization?


A) unemployment
B) price of goods and services
C) demand for unskilled workers
D) standard of living
E) income equality

F) All of the above
G) C) and E)

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