Summary
Summary Business
- Institution
- Florida Institute Of Technology
Summary of 3 pages for the course BUS 1301 Basic Economics at Florida Institute Of Technology (Intro to business)
[Show more]
Seller
Follow
Content preview
Knowledge CheckGlobalization and the Global Economy
Directions
Read each statement and select the correct response. Answers are given on page 3.
Statements
1. Approximately 95 percent of the world’s population lives outside of the United States.
a. True
b. False
2. A multinational enterprise is any firm that sells its products in another country.
a. True
b. False
3. Globalization is the close integration of countries and peoples of the world.
a. True
b. False
4. Gross domestic product (GDP) is the measure of the sum of value added by resident firms,
households, and governments operating in an economy.
a. True
b. False
5. BRIC is an acronym for Brazil, Russia, Italy, and China.
a. True
b. False
6. The global economy can be viewed as a pyramid. At the base of the pyramid, people make
less than U.S. $5,000 per capita, per year.
a. True
b. False
7. GNP is different from GDP because it includes income from nonresident sources abroad.
a. True
b. False
Page 1 of 3
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller emily24. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53340 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now