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Question
Which of the following is true of trade diversion?A) It increases the purchasing power of consumers.
B) It increases the level of trade between nonmember nations.
C) It generally increases the prices of products in a nation.
D) It guarantees consumers a wider selection of goods.
Answer
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Related questions
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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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Supporters and critics of globalization appear to agree that globalization prevents dislocation in labor markets.
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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
D) increased investment in individual education
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Export-processing zones are special areas in which companies engage in tariff-free importing and exporting.
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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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Two major forces that underlie the expansion of globalization are falling barriers to trade and investment, and ________.
A) elevation of nationalism
B) rise of closed economies
C) political stagnation
D) technological innovation
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Explain how technological innovation has benefitted entrepreneurs.
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Compare and contrast the world's three main political ideologies: anarchism, totalitarianism, and pluralism.
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Incentives and rewards for individual business initiatives are an important aspect of collectivist cultures.
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Pluralistic political systems include authoritarian regimes such as communism and fascism.
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The government maintains control over the banking industry in a country. Which of the following is most likely true if the country has a mixed economy?
A) Businesses in most economic sectors of the country are privately owned.
B) The government considers banking sector as important to national security.
C) The country has never experienced threats against its long-term stability.
D) The government views banking as more important than manufacturing.
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A) indirect
B) central
C) subcapital
D) minority
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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
C) short-term orientation
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A) feminity
B) individualism
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Which of the following terms refers to the technology used in a culture to manufacture goods and provide services?
A) vernacular culture
B) popular culture
C) trash culture
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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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A) racial segregation
B) class system
C) gender-based division
D) language-based stratification
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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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________ facilitate(s) the process of cultural imperialism.
A) Strict product liability laws
B) Relaxed trade and investment barriers
C) Technological stagnation
D) Social media censorship
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Which of the following terms is used to refer to habits or ways of behaving in specific circumstances that are passed down through generations?
A) customs
B) attitudes
C) prejudices
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C) cultural imperialism
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A) developed market
B) traditional market
C) emerging market
D) virtual market