Question 1

Under the World Trade Organization's most favored nation rule, member countries may not discriminate against foreign products for any reason.

Accepted Answer

A) True 
 B)False

Question 2

The acceleration of globalization has been driven by:

Accepted Answer

A)   Technological innovation.
B)   Transportation systems.
C)   Social and political reforms.
D)   All of the above.E) None of the above
F) A) and B)

Question 3

Global commerce has taken place for hundreds of years, dating back to the 15th century.

Accepted Answer

A) True 
 B)False

Question 4

The three strategies of globalization can be summarized using what three words?

Accepted Answer

A)   Channels, operations, and chains.
B)   Export, locate, and purchase.
C)   Sell, make, and buy.
D)   Ethics, import, and sell.E) B) and C)
F) None of the above

Question 5

Productivity rises more quickly when countries produce goods and services for which they have a natural talent.

Accepted Answer

A) True 
 B)False

Question 6

A critic of globalization might argue that companies decide to manufacture in China mainly because of China's:

Accepted Answer

A)   Strict law enforcement.
B)   High environmental standards.
C)   Weak health and safety regulations.
D)   Strong worker unions.E) A) and B)
F) A) and C) C

Question 7

Collaborative partnerships:

Accepted Answer

A)   Combine the strengths of business, government and NGOs.
B)   Allow the private sector to improve global conditions without the inefficiency of government.
C)   Are amateurish and lack financial resources.
D)   Are focused on short-term goals.E) A) and B)
F) A) and C) A

Question 8

The World Bank makes currency exchange easier for member countries so that they can participate in global trade.

Accepted Answer

A) True 
 B)False

Question 9

The most important agreement which codifies human rights is the:

Accepted Answer

A)   The American Civil Liberties Act.
B)   The Versailles Treaty.
C)   The Universal Declaration of Human Rights.
D)   The U.S. Declaration of Independence.E) B) and C)
F) A) and C)

Question 10

Describe the roles of the World Bank, International Monetary Fund, and World Trade Organization in the acceleration of globalization.

Accepted Answer

The World Bank, International Monetary Fund (IMF), and World Trade Organization (WTO) all play significant roles in the acceleration of globalization.

The World Bank provides financial and technical assistance to developing countries for development projects and programs. It helps these countries integrate into the global economy by providing funding for infrastructure, education, healthcare, and other essential services. This assistance helps to improve the overall economic conditions in these countries and facilitates their participation in the global market.

The IMF also plays a crucial role in globalization by providing financial assistance to countries facing economic crises. It helps stabilize their economies and promotes policies that encourage international trade and investment. The IMF's support helps countries to overcome financial challenges and become more integrated into the global economy.

The WTO is responsible for regulating international trade and ensuring that it flows smoothly, predictably, and freely. It sets the rules for global trade and provides a forum for negotiating trade agreements and resolving disputes. By promoting free trade and reducing trade barriers, the WTO facilitates the integration of countries into the global economy and encourages economic growth and development.

Overall, the World Bank, IMF, and WTO all contribute to the acceleration of globalization by promoting economic development, facilitating international trade, and providing support to countries seeking to integrate into the global economy. Their efforts help to create a more interconnected and interdependent global economy, driving the acceleration of globalization.

Question 11

The loan policies of the World Bank:

Accepted Answer

A)   Are generous to developing countries seeking to expand their educational systems.
B)   Impose strict restrictions on debtor countries which can sometimes lead to hardship.
C)   Are generally only available to rich nations.
D)   Are open to any company conducting business abroad.E) A) and B)
F) A) and C)

Question 12

A firm that would like to develop a global supply chain would:

Accepted Answer

A)   Manufacture components or supplies in other countries.
B)   Sell raw materials, components or supplies produced at home abroad.
C)   Purchase raw materials, components, or supplies from sellers in other countries.
D)   Check products that were manufactured abroad for defects in their home country.E) B) and D)
F) B) and C)

Question 13

Only manufacturing jobs are being lost through globalization.

Accepted Answer

A) True 
 B)False

Question 14

According to the United Nations, how many transnational corporations operate in the global economy?

Accepted Answer

A)   49,000.
B)   79,000.
C)   290,000.
D)   900,000.E) A) and D)
F) All of the above

Question 15

The richest 1 percent of the people in the world receive as much income annually as:

Accepted Answer

A)   The wealthiest 5 percent.
B)   100 percent of the middle class.
C)   The poorest 99 percent.
D)   The poorest 57 percent.E) A) and B)
F) C) and D)

Question 16

An individual who is a supporter of globalization would argue that it helps the developing world by:

Accepted Answer

A)   Giving entrepreneurs access to foreign investment funds to support economic development.
B)   Allowing new ideas and technological innovations to spread quickly.
C)   Providing people in developing countries with more jobs.
D)   All of the above.E) None of the above
F) B) and C)

Question 17

Discuss the benefits and costs of globalization. Provide examples of how globalization has helped or harmed individual nations and the world economy.

Accepted Answer

Globalization has both benefits and cost...

Question 18

Most nations in the world share similar political, social and economic beliefs.

Accepted Answer

A) True 
 B)False

Question 19

How can collaborative partnerships help global problem solving?

Accepted Answer

Collaborative partnerships can help glob...

Question 20

Representation on the World Bank's board of directors is based on:

Accepted Answer

A)   The size of the member nation's population.
B)   The size of the member nation's economy.
C)   The size of the member nation's land mass.
D)   Equal representation of all member nations.E) A) and C)
F) A) and B)

Exam 6: The Challenges of Globalization

Under the World Trade Organization's most favored nation rule, member countries may not discriminate against foreign products for any reason.

Correct Answer
verified

The acceleration of globalization has been driven by:

Correct Answer
verified

Global commerce has taken place for hundreds of years, dating back to the 15^th century.

Correct Answer
verified

The three strategies of globalization can be summarized using what three words?

Correct Answer
verified

Productivity rises more quickly when countries produce goods and services for which they have a natural talent.

Correct Answer
verified

A critic of globalization might argue that companies decide to manufacture in China mainly because of China's:

Correct Answer
verified
C

Collaborative partnerships:

Correct Answer
verified
A

The World Bank makes currency exchange easier for member countries so that they can participate in global trade.

Correct Answer
verified

The most important agreement which codifies human rights is the:

Correct Answer
verified

Describe the roles of the World Bank, International Monetary Fund, and World Trade Organization in the acceleration of globalization.

The loan policies of the World Bank:

Correct Answer
verified

A firm that would like to develop a global supply chain would:

Correct Answer
verified

Only manufacturing jobs are being lost through globalization.

Correct Answer
verified

According to the United Nations, how many transnational corporations operate in the global economy?

Correct Answer
verified

The richest 1 percent of the people in the world receive as much income annually as:

Correct Answer
verified

An individual who is a supporter of globalization would argue that it helps the developing world by:

Correct Answer
verified

Discuss the benefits and costs of globalization. Provide examples of how globalization has helped or harmed individual nations and the world economy.

Correct Answer
Answered by ExamLex AI
Globalization has both benefits and cost...
View Answer

Most nations in the world share similar political, social and economic beliefs.

Correct Answer
verified

How can collaborative partnerships help global problem solving?

Correct Answer
Answered by ExamLex AI
Collaborative partnerships can help glob...
View Answer

Representation on the World Bank's board of directors is based on:

Correct Answer
verified

Exam 6: The Challenges of Globalization

Under the World Trade Organization's most favored nation rule, member countries may not discriminate against foreign products for any reason.

Correct AnswerverifiedShow Answer

The acceleration of globalization has been driven by:

Correct AnswerverifiedShow Answer

Global commerce has taken place for hundreds of years, dating back to the 15th century.

Correct AnswerverifiedShow Answer

The three strategies of globalization can be summarized using what three words?

Correct AnswerverifiedShow Answer

Productivity rises more quickly when countries produce goods and services for which they have a natural talent.

Correct AnswerverifiedShow Answer

A critic of globalization might argue that companies decide to manufacture in China mainly because of China's:

Correct AnswerverifiedC

Collaborative partnerships:

Correct AnswerverifiedA

The World Bank makes currency exchange easier for member countries so that they can participate in global trade.

Correct AnswerverifiedShow Answer

The most important agreement which codifies human rights is the:

Correct AnswerverifiedShow Answer

Describe the roles of the World Bank, International Monetary Fund, and World Trade Organization in the acceleration of globalization.

The loan policies of the World Bank:

Correct AnswerverifiedShow Answer

A firm that would like to develop a global supply chain would:

Correct AnswerverifiedShow Answer

Only manufacturing jobs are being lost through globalization.

Correct AnswerverifiedShow Answer

According to the United Nations, how many transnational corporations operate in the global economy?

Correct AnswerverifiedShow Answer

The richest 1 percent of the people in the world receive as much income annually as:

Correct AnswerverifiedShow Answer

An individual who is a supporter of globalization would argue that it helps the developing world by:

Correct AnswerverifiedShow Answer

Discuss the benefits and costs of globalization. Provide examples of how globalization has helped or harmed individual nations and the world economy.

Correct AnswerAnswered by ExamLex AIGlobalization has both benefits and cost...View AnswerShow Answer

Most nations in the world share similar political, social and economic beliefs.

Correct AnswerverifiedShow Answer

How can collaborative partnerships help global problem solving?

Correct AnswerAnswered by ExamLex AICollaborative partnerships can help glob...View AnswerShow Answer

Representation on the World Bank's board of directors is based on:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Global commerce has taken place for hundreds of years, dating back to the 15^th century.

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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C

Correct Answer
verified
A

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Globalization has both benefits and cost...
View Answer

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Collaborative partnerships can help glob...
View Answer

Correct Answer
verified