Question 1

1 / 1 pts

The link between labor costs in China and the price of MP3 music players in the United States is an example of ________.

 

Question 2

1 / 1 pts

The growing demand for biofuels in the United States that has led to a growing supply of soybeans from Brazil is an example of all of the following EXCEPT ________ economies.

 

Question 3

1 / 1 pts

An example of globalization of ________ is Toyota opening a factory in Kentucky.

 

Question 4

1 / 1 pts

A term that describes the movement of production away from a domestic production site to a foreign location is ________ outsourcing.

Question 5

1 / 1 pts

The developing country of Alpha had a rule that none of its factories could be owned by companies from the developed country of Beta. If Alpha drops this rule, this would be an example of ________.

 

Question 6

1 / 1 pts

Which of the following is contributing to the acceleration of globalization?

 

Question 7

0 / 1 pts

All of the following contribute to accelerating globalization EXCEPT ________.

 

Question 8

1 / 1 pts

Brazil has experienced rapid economic growth and increased sales of its products to other countries. This is an example of a(n) ________.

 

Question 9

1 / 1 pts

The nation of Baa-Baa raises sheep relatively more efficiently than the nation of Snuggle. Snuggle weaves woolen blankets relatively more efficiently than Baa-Baa. Baa-Baa decides to specialize in raising sheep, to sell wool to Snuggle, and to buy blankets from Snuggle. Snuggle decides to specialize in blanket weaving, to sell blankets to Baa-Baa, and to buy wool from Baa-Baa. This international trade illustrates ________ advantage.

 

Question 10

1 / 1 pts

If the United States has the ability to produce more steel than any other country in the world, the United States has a(n) ________ advantage in steel production.

 

Question 11

1 / 1 pts

A country’s launching of a government-owned telecommunications satellite is an example of investing in ________.

 

Question 12

1 / 1 pts

A U.S. consumer electronics company has to shut down because it cannot compete against foreign manufacturers. For the United States, this is an example of a(n) ________ of international trade.

 

Question 13

1 / 1 pts

U.S. farmers export canned sweet corn to Germany, which lowers the price to a German consumer by a few cents. The benefits to Germany of this international trade deal are ________.

 

Question 14

1 / 1 pts

If the nation of Epsilon places a tax on all grapes imported from the nation of Zeta, Epsilon has imposed a(n) ________.

 

 

Question 15

1 / 1 pts

As a result of their influence on the quantity, variety, and quality of products, trade barriers ________ domestic consumers.

 

Question 16

1 / 1 pts

The country of Theta restricts the activities of foreign insurance companies in order to give Theta’s insurance industry a chance to grow and develop. Theta’s actions are an example of the ________ argument in favor of protectionism.

 

Question 17

1 / 1 pts

The cheap foreign labor argument for protectionism refers to ________.

 

Question 18

1 / 1 pts

The oldest and largest free trade area in the world is ________.

 

Question 19

1 / 1 pts

With a global strategy for conducting business internationally, a company competes ________.

 

Question 20

1 / 1 pts

Disadvantages of ________ include losing control over a company because compromise with the partner is inevitable and the risk of losing proprietary technology in the event of dissolution of the partnership.

 

Question 21

1 / 1 pts

Cooperative arrangements between actual or potential competitors in which each partner retains its business independence are known as ________.

 

 

Question 22

1 / 1 pts

The ratio at which Australian dollars are converted into Indonesian rupiah is known as the ________ rate.

 

Question 23

1 / 1 pts

U.S. exporters prefer a(n) ________ dollar.

 

Question 24

1 / 1 pts

What is a valid explanation as to why some nations retain nonconvertible currency?

 

Question 25

1 / 1 pts

What is the opposite of nonconvertible currency?