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Question
In today's world, the Andean Community is best described as an incomplete ________.A) free-trade area
B) customs union
C) economic union
D) political union
Answer
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Which of the following statements is true of developing countries that have embraced globalization?
A) The countries have experienced an increase in life expectancy.
B) As a result of extensive commercialism, there has been a decline in personal income.
C) Relying upon developed countries for technology has rendered their talent pool stagnant.
D) Their rich cultural diversity hasn't been affected by exposure to new cultures.
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According to the opponents of globalization, which of the following occurs as a result of worker dislocation brought about by globalization?
A) increased labor costs for companies
B) lower workers' wages in developed nations
C) surfeit of jobs in developed nations
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The General Agreement on Tariffs and Trade (GATT) was designed to promote free trade by reducing both tariffs and nontariff barriers to international trade.
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Explain how technological innovation has benefitted entrepreneurs.
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B) The government considers banking sector as important to national security.
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According to Hofstede's framework, a culture with ________ values security and places its faith in strong systems of rules and procedures in society.
A) large uncertainty avoidance
B) low power distance
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Which of the following terms refers to the technology used in a culture to manufacture goods and provide services?
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Lingua franca is ________.
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B) a form of non-verbal language adopted by all nations as the official language for business transactions
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Which of the following is the most common form of social stratification in the world today?
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A caste system is a system of social stratification in which ________.
A) a person's social status is decided by his acquired wealth
B) a person's position in society depends upon his educational qualifications and achievements
C) people are born into a social ranking, with no opportunity for social mobility
D) people join highly exclusive associations that encourage external interaction
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A) trash culture
B) traditions
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A culture's values tend to become more flexible over time.
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A) Strict product liability laws
B) Relaxed trade and investment barriers
C) Technological stagnation
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