WGU D080 Objective Assessment 2023 Questions and Answers (Verified Answers) 1. Which negative outcome on political systems comes from globalization? - ANS : Creation of isolationist policies 2. Which factor results in a higher rate of globalization ANS Reduced trade bar- riers 3. What are the four factors in Ghemawat's CAGE analysis ANS Culture, admin - istration, geography, economy 4. What is a major drawback to the home country when companies outsource manufacturing jobs to countries with lower worker wages ANS Loss of manufac - turing jobs 5. A country has a characteristic traditional economic system with poor infrastructure and limited economic opportunity. What is the impact of this system on the process of globalization ANS The globalization process is at a disadvantage as the country has a lower standard of living. 6. What is a characteristic of a market economy ANS Firms seek to maximize profi ts. 7. Which impact does Islamic law directly have on businesses ANS It forbids charging interest. 8. Which institution helps to maintain availability of global financing to solve trade deficit issues ANS International Monetary Fund 9. What is the current focus of the World Bank ANS Improving quality of life 10. For which concern has the World Trade Organization been criticized ANS - Adoption of labor standards protecting labor rights 11. How is the Special Drawing Right of the International Monetary Fund (IMF) valued ANS It is based on the value of the five most significant members' currencies. 12. Two countries agree to open their borders to international business transactions with one another without tariffs. How does this affect global business ANS It leads to developing free trade policies with strategic partners. 13. A country uses its established technology infrastructure to produce a good. What is the impact of this infrastructure on trade ANS It will create barriers to entry for other nations. 14. What was the economic impact of the North American Free Trade Agree - ment (NAFTA) ANS The shift of jobs away from low comparative advantage industries 15. A company that is located in Country A would like to sell products in Country B. The government of Country B is pushing for a tariff -based international trade agreement on the product. What is the reasoning behind Country B's decision ANS Country B seeks to protect its economy and give it the opportunity for long-term expansion. 16. Countries A and B participate in trade agreements that allow free trade among participant countries. However, Country A imposed quotas on several imported products to protect its domestic products. What is the effect, if any, on the domestic prices of these products ANS Increases 17. Two countries decide to open up trade with each other. What is likely to happen when trade opens up ANS Jobs will increase in compar - ative advantage industries.
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