question

As part of the World Bank's Strategic Framework, there are five focus areas that accommodate and facilitate the globalization process including its analytical and advisory role supporting national policies to strengthen free market institutions and infrastructure that has provided the potential for creating large gains from trade.

answer

true

question

In communist and state-controlled economies like those in Central Asia property rights either do not exist or are not well defined which discourages domestic and foreign investors from making long-term commitments in these countries.

answer

True

question

A survey by the World Bank indicates that of the companies surveyed; unfortunately, only 30 percent have board-approved policies on environmental management indicating that corporate social responsibility practices have become an insignificant factor in determining where multinational corporations conduct business.

answer

False

question

Of the following, which is NOT true regarding the credit crisis? a. It affected farmers in Burkina Faso. b. It affected miners and steel workers in Ukraine. c. It affected assemble-line workers in Singapore. d. It affected white-collar workers at information technology firms in Ireland. e. It had an impact only on its country of origin- the United States.

answer

It had an impact only on its country of origin- the United States.

question

Trade without discrimination, freer trade, predictability, promotion of fair competition, and _____ are the five principles of the multilateral trading system. a. integrated capital markets b. encouragement of economic reform in developing countries c. liberalization of the trading system d. nontariff trade e. International

answer

encouragement of economic reform in developing countries

question

The socio-economic reform process of eliminating trade, investment, cultural, information technology, and political barriers across countries, which in turn could lead to increased economic growth and geo-political integration and interdependence among nations of the world refers to ________.

answer

Globalization

question

______ are government organizations that create strong incentives for private investment and operate under a system of checks and balances.

answer

Capital markets/adaptive institutions

question

Which of the following is NOT true regarding the global use of information technology? a. Our globe relies on the Internet for business and social activity. b. Broadband prices have been falling. c. The IT revolution has been relatively slow. d. Internet-related technologies help reduce corporate and societal hierarchies. e. Internet and wireless technologies could make many authoritarian governments uneasy.

answer

The IT revolution has been relatively slow.

question

Power distance examines the extent to which societies tolerate risk or are risk averse

answer

False

question

Of the following, which is NOT a cultural level identified by Hofstede? a. Individualism vs. collectivism b. Power distance c. Masculine vs. feminine d. Uncertainty avoidance e. Internal control vs. external control

answer

Internal control vs. external control

question

The ability of a firm to adjust to a culture different from its own is referred to as _________.

answer

Acculturation

question

Because broadband prices have been falling, governments in emerging economies such as India and South Africa are facilitating the spread of broadband to rural towns and villages to provide instant access to market information and government programs to remote villagers which will enable policymakers to maximize the economic potential of remote communities and make globalization sustainable.

answer

True

question

All of the following countries can be considered globalization "winners" EXCEPT: a. China b. Central Asia c. India d. Brazil e. South Africa

answer

Central Asia

question

National laws aimed at maintaining competition in all sectors of the economy and preventing monopolistic behavior of firms are called _______.

answer

Antitrust laws

question

The _____ describes the perceived economic gap between countries or people with easy access to digital and information technology and those with very limited or no access.

answer

digital divide

question

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 or economically is called ______.

answer

Sustainable development

question

_______ refers to the amount of data and other information that can be transferred in a second via the Internet.

answer

Bandwith

question

The period of transformation that adjusts lifestyles to make the Internet and wireless technologies a part of everyday life refers to the ______.

answer

digital era

question

National laws aimed at maintaining competition in all sectors of the economy and preventing monopolistic behavior of firms are called _______.

answer

antitrust laws

question

______ is a system of full disclosure and openness that aims to avoid any semblance of corruption and cronyism.

answer

Transparency

question

A system of responsibility in which an authority, such as the government, is answerable for its actions refers to ________.

answer

accountability

question

The rules, enforcement mechanisms, and organizations that support market transactions are called ______.

answer

institutions

question

_______ refers to lowering and/or removing trade barriers such as tariffs, quotas, and subsidies.

answer

Liberalization of the trading system

question

A stock exchange where long-term financial instruments such as stocks and bonds can be bought and sold refers to _______.

answer

capital markets

question

________ are economic policy changes that promote private sector development, competitive markets, market-pricing, freer trade, and deregulation.

answer

Economic reforms

question

The international financial environment in which exchange rates and international payments for goods and services are conducted refers to _________.

answer

international monetary system

question

A world economy in which the engines of growth could comprise several major industrialized and emerging market economies such as the United States, the European Union, China, India, Brazil, Russia, and South Africa rather than the United States alone is called ______.

answer

multi-polar world

question

_______ refers to a fundamental global shift in which industrialized country-dependent developing economies begin to grow based on their own underlying economic strengths rather than the ups and downs of the world's richest countries.

answer

Decoupling

question

Countries that are implementing more open trade and free market policies are called ______.

answer

emerging market economies

question

Which of the following is NOT true regarding globalization's "winners" and "losers?" Brazil has been flourishing due to gloablization. b. According to the World Bank, more than 400 million Chinese citizens have climbed out of poverty since the implementation of economic reform that started in their country. c. Those that suffer most from the effects of globalization are those countries that have not been able to seize the opportunities to participate in this process. d. Unfortunately, globalization only creates winners in industralized countries such as the United States. e. Efforts to hold back globalizaiton or technological progress are bound to fail.

answer

Unfortunately, globalization only creates winners in industralized countries such as the United States.

question

Which of the following is NOT true regarding globalization? a. It guarantees that quality of life for all people will increase. b. It creates winners and losers. c. It has the potential to increase the quality of life for people. d. Some multinational companies will utilize globalization may try to pay substandard wages to the workers they employ in developing countries. e. Export barriers may need to be imposed by the WTO to help regulate the actions of multinational companies.

answer

It guarantees that quality of life for all people will increase.

question

Successive waves of globalization include characteristics such as the expansion of trade, the diffusion of technology, extensive migration, and _____. a. improvements in country infrastructure b. increased employee morale c. improved healthcare d. financial independence e. cross-fertilization of diverse cultures

answer

cross-fertilization of diverse cultures

question

Which of the following is NOT true regarding results from a survey by the World Bank on corporate social responsibility (CSR)?a. CSR practices are now a significant factor in determining where multinational companies conduct business. b. 90% of the companies surveyed have board-approved policies on environmental management. c. 90% of multinationals will make their decisions based on CSR issues with regard to foreign direct investment. d. CSR issues consistently implemented for the long term lead to sustainable business and development. e. CSR includes issues such as labor rights, corruption, human rights, community health, and land rights.

answer

90% of multinationals will make their decisions based on CSR issues with regard to foreign direct investment.

question

McDonalds' consumer products are made primarily of renewable materials; some of the material comes from recycled fiber. The restaurants also utilize LED light fixtures. McDonald's is engaging in _____. a. future sourcing b. global warming c. next-generation consumer hook d. digital divide e. sustainable development

answer

sustainable development

question

The only way workers in industrialized countries can compete with their counterparts in the developing world will be through: a. increased use of the cost leadership strategy. b. increased diversity within the organization. c. increased empowerment of employees. d. increased productivity by using technologically-intensive manufacturing technologies. e. increased flat organization structure.

answer

increased productivity by using technologically-intensive manufacturing technologies.

question

Brazilian Juice, a manufacturer of healthy fruit juices in Brazil, sells juice in six different countries including United States. Brazilian juice is engaging in a. economic development in United States. b. exercising nontariff barriers in Brazil. c. unfair trade practices. d. globalization. e. the World Trade Bank Group.

answer

globalization.

question

Which of the following is NOT a key aspect of globalization? a. The elimination of barriers to trade b. Investment c. Financial independence d. Culture e. Information technology

answer

Financial independence

question

Countries that have been moving toward more open trade and free market policies are known as _____. a. African countries b. open-door economies c. industralized countries d. globalized economies e. emerging market economies

answer

emerging market economies

question

India and Brazil have been moving towards more open trade and free market policies. These countries can be described as a. emerging market economies. b. open-door economies. c. industrialized countries. d. common market economies. e. the World Bank countries.

answer

emerging market economies.

question

A sustainable decoupling process would eventually lead to _____. a. a multi-polar world b. globalization c. outsourcing d. importing e. exporting

answer

a multi-polar world

question

A world economy in which the engines of growth could comprise the United States, the European Union, China, India, Brazil, Russia, and South Africa rather than the United States alone can be described as a(an) __________. a. interdependent world b. industrialized world c. globalized economy d. multi-polar world e. diverse world

answer

multi-polar world

question

According to the authors, which of the following is NOT true regarding globalization lessons for developing countries? a. Import oriented nations must switch to concentrate on domestication. b. Export oriented nations must diversify their market to include major emerging markets. c. Countries emphasizing exports should base their strategy on their true competitive advantage. d. For countries with large populations, the size of the domestic market remains most important. e. Overindulgence can lead to disaster.

answer

Import oriented nations must switch to concentrate on domestication.

question

Which of the following is NOT a main purpose of the IMF? a. Provide a forum for cooperation on international monetary problems b. Facilitate the sustainable growth of international trade c. Promote exchange rate stability d. Lend countries foreign exchange when needed e. Provide long-term low-interest social sector and infrastructure loans

answer

Provide long-term low-interest social sector and infrastructure loans

question

What was the initial primary role of the World Bank? a. To aide in the reconstruction of Europe after World War II b. To help eradictate communicable diseases c. To try to avoid a repetition of the disastrous economic policies that had contributed to the Great Depression. d. To deal primarily with tariff negotiations e. To provide loans and take equity position in private companies

answer

To aide in the reconstruction of Europe after World War II

question

The International Bank for Reconstruction and Development 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. Provide loans and take equity position in private companies of developing countries and works toward developing capital markets in theose economies c. Supports reconstruction and restructuring of member countries utilizing funds raised in international capital markets d. Provides political risk coverage for private investments made in developing countries e. Works on issues related to foreign investment disputes

answer

Supports reconstruction and restructuring of member countries utilizing funds raised in international capital markets

question

The Multilateral Investment Guarantee Agency 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. Provide loans and take equity position in private companies of developing countries and works toward developing capital markets in those economies c. Supports reconstruction and restructuring of member countries utilizing funds raised in international capital markets d. Provides political risk coverage for private investments made in developing countries e. Works on issues related to foreign investment disputes

answer

Provides political risk coverage for private investments made in developing countries

question

The International Center for the Settlement of Investment Disputes 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. Provide loans and take equity position in private companies of developing countries and works toward developing capital markets in those economies c. Supports reconstruction and restructuring of member countries utilizing funds raised in international capital markets d. Provides political risk coverage for private investments made in developing countries e. Works on issues related to foreign investment disputes

answer

Works on issues related to foreign investment disputes

question

Trade expansion has been a leading factor in global integration, especially since the early _____. a. 1650s b. 1760s c. 1890s d. 1970s e. 2000s

answer

1970s

question

GATT refers to which of the following? a. General Agreement of Tariffs and Trade b. Great American Trade Tax c. Gift of American Treaty Tips d. General Articles on Tariffs and Trade e. Great Articles on Tariffs and Trade

answer

General Agreement of Tariffs and Trade

question

Which of the following is NOT an objective of the WTO? a. Reviewing national trade policies b. Acting as a form for trade negotiations c. Helping eradictate communicable diseases d. Settling trade disputes e. Administering trade agreements

answer

Settling trade disputes

question

Trade without discrimination, freer trade, predictability, promotion of fair competition, and _____ are the five principles of the multilateral trading system. a. integrated capital markets b. encouragement of economic reform in developing countries c. liberalization of the trading system d. nontariff trade e. international

answer

encouragement of economic reform in developing countries

question

The concept of curtailing agricultural subsidies in developed economies was incorporated into the ninth round to trade negotiations called the _____. a. "Dallas Round" b. "Toronoto Round" c. "Sparta Round" d. "Kabul Round" e. "Doha Round"

answer

"Doha Round"

question

The rules, enforcement mechanisms, and organizations that support market transactions are referred to as _____. a. industries b. companies c. businesses d. corporations e. institutions

answer

institutions

question

in Brazil, if there are government organizations that create strong incentives for private investment and operate under a system of checks and balances that function best in a democratic system of government, they could be classified as which of these? a. Transparent organizations b. Antitrust corporations c. Adaptive institutions d. Emerging markets e. Capital markets

answer

Adaptive institutions

question

In ABC country, a system of responsibility in which an authority, such as the government, is not answerable for its actions, it would be described as having the lack of _____. a. banking system b. integrity c. accountability d. transaction-based exporting e. trustworthiness

answer

accountability

question

The most recent device(s) that enables greatest ease in portability and accessibility of information is (are) the _____. a. magazines b. newspapers c. Internet d. smart phones e. computer

answer

smart phones

question

In India, several politicians are working very hard toward a system of full disclosure and openness that aims to avoid any semblance of corruption and cronyism. These efforts can be described as creating a system focused on _____. a. politics b. integrity c. accountability d. transparency e. democracy

answer

transparency

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