Which statement about the economic effects of post–world war ii globalization is true? quizlet

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Terms in this set (60)

Identify the true statements regarding the impacts of globalization _____. (Check all that apply.)
Multiple select question.
It leads to the spread of technology, culture, and politics.
It has an indirect or direct influence over international politics.
It exerts an influence on the economics of virtually every country in the world.
It triggers a much less integrated world economy.

It leads to the spread of technology, culture, and politics.
It has an indirect or direct influence over international politics.
It exerts an influence on the economics of virtually every country in the world.

True or false: A firm can only implement a single globalization strategy at any given time.
True false question.
True
False

False

According to the United Nations, this multinational enterprise had the largest amount of foreign assets in 2016.
Multiple choice question.
Volkswagen Group
General Electric
Royal Dutch/Shell
ExxonMobil

Royal Dutch/Shell

How do U.S. companies that use tax inversion save money? (Check all that apply.)
Multiple select question.
By decreasing debt in the home country.
By loading up their U.S. subsidiary with debt.
By storing more cash at home.
By buying stock internally.

By loading up their U.S. subsidiary with debt.
By buying stock internally.

Match the international organization (in the left column) with its primary function (in the right column).
Drag and drop application.
World Bank
International Monetary Fund
World Trade Organization

World Bank, matches, Provides economic development loans to members
International Monetary Fund, matches, Lends foreign currency to members
World Trade Organization, matches, Establishes international trade rules

The term globalization can be accurately defined by which statement(s)? (Check all that apply.)
Multiple select question.
As a process, it is an ongoing series of interrelated events.
It refers to buying, selling, or producing goods in a single country.
It is a current international business trend with no lasting impact.
It involves the increasing movement of products and capital across national borders.

As a process, it is an ongoing series of interrelated events.
It involves the increasing movement of products and capital across national borders.

Match the globalization strategy on the left with its correct description on the right.
Drag and drop application.
Global market channels
Global operations
Global supply chains

Global market channels, matches, A firm first builds a successful business in its home country and then exports its products or services to buyers in other country.
Global operations, matches, A firm establishes manufacturing plants or service functions abroad.
Global supply chains, matches, A firm subcontracts manufacturing to suppliers located abroad.

According to the textbook, JP Morgan Chase (a bank) is a transnational organization because it _____.
Multiple choice question.
controls 80 percent of banking assets in China
operates only outside its home country of the United States
operates only in its home country of the United States
controls banking assets in over 60 countries

controls banking assets in over 60 countries

A strategy of acquiring or merging with a foreign firm in order to reduce corporate tax obligations at home is called _____.
Multiple choice question.
churning
sandbagging
inversion
injunction

inversion

If a company wanted to file a complaint about a global trade issue, which organization would they contact?
Multiple choice question.
foreign country's government directly
International Monetary Fund
World Bank
World Trade Organization

World Trade Organization

When developed nations extend monetary aid to indebted countries, this is called _____.
Multiple choice question.
microfinance
foreign direct investment
debt relief
civil society

debt relief

How do vulture funds take advantage of weak and indebted companies? (Check all that apply.)
Multiple select question.
Vulture funds buy the defaulted debt at a discount.
Vulture funds sue the company and demand repayment of loans with interest.
Vulture funds sue the company and demand repayment of loans without interest.
Vulture funds pay off corporate debt and demand favors in return.

Vulture funds buy the defaulted debt at a discount.
Vulture funds sue the company and demand repayment of loans with interest.

How does globalization benefit consumers? (Check all that apply.)
Multiple select question.
It often constrains technology.
It tends to lower the price of goods.
It generally stagnates the price of goods.
It tends to increase economic productivity.

It tends to lower the price of goods.
It tends to increase economic productivity.

When a business starts operations in another country, what is the cost to workers in the home country? (Check all that apply.)
Multiple select question.
Stronger labor standards
Job insecurity
Stagnant wages
Lower wages

Job insecurity
Stagnant wages
Lower wages

Democracy is accurately described by which of these features? (Check all that apply.)
Multiple select question.
Centralized government power
Fair elections
Freedom to express political views
Freedom of religion

Fair elections
Freedom to express political views
Freedom of religion

What is one unintended consequence of the World Bank and the IMF loaning large amounts of money to developing nations?
Multiple choice question.
People's lives improved dramatically.
Persistent poverty remained.
The poor countries developed too quickly.
Loans were paid off early and banks lost the interest payments.

Persistent poverty remained.

Vulture funds are most likely to harm which type of country?
Multiple choice question.
Heavily indebted
Industrialized
Developed
Small but wealthy

Heavily indebted

How is the theory of comparative advantage used to improve productivity? (Check all that apply.)
Multiple select question.
Generalization
Doing what one does best
Free trade
Specialization

Doing what one does best
Free trade
Specialization

When a firm relocates its operations specifically to avoid raising wages, this is called _____.
Multiple choice question.
the bottom of the pyramid
the race to the top
productivity
the race to the bottom

the race to the bottom

In a democracy, ruling power is typically split between which branches of government? (Check all that apply.)
Multiple select question.
Judicial
Consumer affairs
Legislative
Executive

Judicial
Legislative
Executive

Correctly identify how political and economic freedoms are related. (Check all that apply.)
Multiple select question.
The more markets are closed, the greater the opportunity people have for political freedom.
Open economic markets often give people more resources to successfully participate in politics.
The more control people gain over government decisions, the more likely they will increase their economic freedom.
The less influence people have over government, the greater the chance for improved economic freedom.

Open economic markets often give people more resources to successfully participate in politics.
The more control people gain over government decisions, the more likely they will increase their economic freedom.

Correctly identify the features of a central state control economic system. (Check all that apply.)
Multiple select question.
Government ownership
Private ownership
Most markets are illegal
Voluntary exchange of assets

Government ownership
Most markets are illegal

Identify the political and economic systems used today in China.
Multiple choice question.
Democracy and central state control
Authoritarianism and free enterprise
Democracy and free enterprise
Authoritarianism and central state control

Authoritarianism and free enterprise

Assets accumulated up to a point in time are called ______.
Multiple choice question.
wealth
income tax
income inequality
the global wealth pyramid

wealth

Match each level of the global wealth pyramid (in the left column) with the individual asset typically associated with that level (in the right column).
Drag and drop application.
Base of the pyramid
Middle Class
High wealth
Top of the Pyramid

Base of the pyramid, matches, work tools
Middle Class, matches, some home equity
High wealth, matches, home ownership
Top of the Pyramid, matches, more than $1,000,000 in overall assets

What benefits do global customers at the bottom of the pyramid enjoy? (Check all that apply.)
Multiple select question.
Employment opportunities are expanded.
Taxes are significantly reduced.
Social development is increased.
Immediate needs are satisfied.

Social development is increased.
Employment opportunities are expanded.
Immediate needs are satisfied.

What was the primary reason China adopted a free enterprise market system?
Multiple choice question.
To prevent the Chinese economy from growing too rapidly
To expand government control over assets
To increase economic development
To create new opportunities for foreign investors

To increase economic development

Income is defined by which of the following?
Multiple choice question.
Accumulated assets
Accumulated debt
Periodic earnings
One-time gifts

Periodic earnings

At what level of the global wealth pyramid would $10,000 to $100,000 in individual assets fall?
Multiple choice question.
High wealth
Top of the pyramid
Middle class
Base of the pyramid

Middle class

Why would a firm be interested in selling their products to people at the bottom of the pyramid? (Check all that apply.)
Multiple select question.
Collectively the market is vast.
Individuals at this level have high wealth.
People at this level are often willing to pay a "poverty premium."
It is cheaper to produce goods for poor people.

Collectively the market is vast.
People at this level are often willing to pay a "poverty premium."

How do recipients benefit from microfinance? (Check all that apply.)
Multiple select question.
Jumbo loans can be secured without collateral.
Small loans help farmers manage their land.
Micro loans can be secured without collateral.
Small loans help entrepreneurs grow their businesses.

Small loans help farmers manage their land.
Micro loans can be secured without collateral.
Small loans help entrepreneurs grow their businesses.

Match each sector (in the left column) with its correct resource4 (in the right column).
Drag and drop application.
Business
Business drop zone empty.
Government
Government drop zone empty.
Civil Society

Business, matches, technical knowledge
Government, matches, Policy knowledge
Civil Society, matches, community knowledge

What benefits have microfinance lenders realized? (Check all that apply.)
Multiple select question.
Helped millions of people.
Developed a global trend in micro loans.
Helped a handful of people.
Increased profits.

Helped millions of people.
Developed a global trend in micro loans.
Increased profits.

Which sector of society tends to disregard the long-term impacts of their actions?
Multiple choice question.
Nongovernmental organizations
Business
Civil society
Government

Business

As globalization has expanded, the number of organizations related to which sector of society has grown dramatically to deal with related social issues?
Multiple choice question.
Civil society
Regulators
Businesses
Government

Civil society

Drag and drop the goals of the sectors within the Kimberley Process against the corresponding sectors.
Drag and drop application.
Civil society
Civil society drop zone empty.
Business
Business drop zone empty.
Government

Civil society, matches, Protecting consumers from inadvertently supporting civil war
Business, matches, Preserving the reputation of diamonds as a romantic symbol
Government, matches, Protecting legitimate diamond businesses

Match the sector (in the left column) with the associated weakness (in the right column)..
Drag and drop application.
Business
Business drop zone empty.
Government
Government drop zone empty.
Civil society

Business, matches, Short-term focus
Government, matches, Bureaucratic
Civil society, matches, Few financial resources

The Kimberley Process was developed by a global action network to solve which social problem?
Multiple choice question.
Overpriced gem stones
Conflict diamonds
Civil war in Africa
Marketing of poor quality diamonds

Conflict diamonds

Match the sector on the left with the strengths on the right that each sector brings to the task of eliminating conflict minerals from the electronics supply chain, according to the case Intel and Conflict Minerals.
Drag and drop application.
Business
Business drop zone empty.
Government
Government drop zone empty.
Civil society

Business, matches, Purchasing power
Government, matches, Legal authority
Civil society, matches, Local knowledge

True or false: The United States took action to require disclosure of the source of tantalum used in products through the Dodd-Frank Act.
True false question.
True
False

True

True or false: Intel worked to eliminate all minerals sourced from the DRC, according to the case Intel and Conflict Minerals.
True false question.
True
False

False

Match the sector (in the left column) with the appropriate interest (in the right column), according to the case Intel and Conflict Minerals.
Drag and drop application.
Business
Business drop zone empty.
Government
Government drop zone empty.
Civil society

Business, matches, Prevent damage to their reputation
Government, matches, Protect their tax revenue and foreign exchange
Civil society, matches, Prevent human rights abuses

What does the term "conflict minerals" refer to?
Multiple Choice
Tungsten and tin sourced from mines that refuse to hire union labor.
All gold and silver mined in Communist countries.
Minerals used in electronics extracted from mines that finance warring militias.
Correct
Black metallic ore removed from the earth by environmentally destructive means.

Minerals used in electronics extracted from mines that finance warring militias.

Which of the following sectors wanted to preserve their reputation and attempted to distance themselves from human rights abuses associated with conflict minerals?
Multiple Choice
Business
Correct
Government
Churches
Civil society

Business

According to the case, U.S. legislation passed in 2010 required companies to
Multiple Choice
source coltan only from conflict-free zones.
disclose if coltan in their products had come from the Congo or adjoining countries.
Correct
substitute tungsten for coltan in all products.
certify all products as "conflict free."

disclose if coltan in their products had come from the Congo or adjoining countries.

According to the United Nations, a feature of democracy is:
Multiple Choice
Fair elections.
An independent media.
A government with power balanced among executive, legislative, and judicial branches.
All of these answers are correct.

All of these answers are correct.

The term "race to the bottom" refers to:
Multiple Choice
Seeking to mine valuable minerals from the bottom of the ocean.
Moving production jobs to the country with the lowest labor cost.
Efforts to deconstruct the assembly process in manufacturing industries.
An old concept of globalization that is no longer relevant.

Moving production jobs to the country with the lowest labor cost.

A free enterprise system refers to:
Multiple Choice
Economic assets that are privately owned and exchanged in an open market.
Property ownership by a centralized government.
A mix of privately owned and government controlled economic assets.
An index of economic freedom.

Economic assets that are privately owned and exchanged in an open market.

A society where economic power is concentrated in the hands of government officials and political authorities is called:
Multiple Choice
A central state control system.
A social democracy.
A political control system.
A military dictatorship.

A central state control system.

Single-party rule by communist parties still remains in:
Multiple Choice
Lithuania.
Vietnam.
Thailand.
Russia.

Vietnam.

An example of an international financial and trade institution is:
Multiple Choice
World Bank.
International Monetary Fund.
World Trade Organization.
All of these answers are correct.

All of these answers are correct.

A critic of globalization might argue that companies decide to manufacture in China mainly because of China's:
Multiple Choice
Strict law enforcement.
High environmental standards.
Weak health and safety regulations.
Strong worker unions.

Weak health and safety regulations.

How did Intel eliminate conflict minerals from their supply chain?
Multiple Choice
Entirely through their own internal processes.
The U.S. government stepped in to eliminate the conflict minerals.
By collaborating with most suppliers in the chain including smelters, processors, and traders.
Intel has not eliminated conflict minerals from their supply chain.

By collaborating with most suppliers in the chain including smelters, processors, and traders.

A firm that would like to develop a global supply chain would:
Multiple Choice
Manufacture components or supplies in other countries.
Sell raw materials, components, or supplies produced at home abroad.
Purchase raw materials, components, or supplies from sellers in other countries.
Check products that were manufactured abroad for defects in their home country.

Purchase raw materials, components, or supplies from sellers in other countries.

Microfinance refers to banks:
Multiple Choice
Lending money to a very small number of businesses.
Lending money to low-income businesses.
Lending very small amounts of money to wealthy businesses.
Charging low fees for all business loans.

Lending money to low-income businesses.

An example of a Global Action Network, or GAN, is:
Multiple Choice
The World Trade Organization.
Nongovernmental organizations.
The Kimberley Process.
The Heritage Foundation.

The Kimberley Process.

Government has distinctive resources and competencies including:
Multiple Choice
Knowledge of public policy.
Ability to enforce the rules.
Revenue from taxation.
All of these answers are correct.

All of these answers are correct.

The primary purpose of the International Monetary Fund is to:
Multiple Choice
Lend foreign currency to member countries.
Exchange one currency for another.
Consolidate the debt facing Third World nations.
Collect the interest on loans made by the World Bank to Third World nations.

Lend foreign currency to member countries.

Global market channels involve a firm producing goods in:
Multiple Choice
Their home country and exporting them to other countries.
Their home country to sell at home.
A foreign country to sell at home.
A foreign country to sell abroad.

Their home country and exporting them to other countries.

The three strategies of globalization can be summarized using what three words?
Multiple Choice
Channels, operations, and chains.
Export, locate, and purchase.
Sell, make, and buy.
Ethics, import, and sell.

Sell, make, and buy.

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