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Question
The theory of absolute advantage measures a nation's wealth by determining the ________.A) amount of gold it has on reserve
B) quantity of minerals it has on reserve
C) total trade volume in the country
D) living standards of its people
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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B) lower workers' wages in developed nations
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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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B) central
C) subcapital
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A) large uncertainty avoidance
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A) feminity
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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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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
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A) Strict product liability laws
B) Relaxed trade and investment barriers
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B) traditional market
C) emerging market
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