WGU C211 OA GLOBAL ECONOMICS FOR MANAGERS EXAM QUESTION AND CORRECT ANSWERS ()
QUESTION 1
View that claims phenomenon of globalization was initially driven by the desire of western economies to
exploit their power through mne's
WGU C211 OA GLOBAL ECONOMICS FOR MANAGERS
EXAM QUESTION AND CORRECT ANSWERS (2024-2025)
QUESTION 1
View that claims phenomenon of globalization was initially driven by the desire of western economies to
exploit their power through mne's
New
QUESTION 2
View that claims globalization is a long-run historical evolution since the dawn of humanity. Says it is
nothing new and that it will always exist
Evolutionary
QUESTION 3
View that claims globalization is swinging from one extreme to another from time to time
Pendulum
QUESTION 4
Investment in, controlling, and managing value-added activities in other countries
Foreign direct investment
QUESTION 5
Political view hostile to fdi. Believes it is an instrument of imperialism and vehicle for exploitation of
domestic resources by foreign capitalists and firms
Radical
QUESTION 6
WGU C211 OA GLOBAL ECONOMICS FOR MANAGERS EXAM
,Suggests that fdi, unrestricted by government intervention, will enable countries to tap into their
absolute or comparative advantages by specializing in the production of certain goods and services
Free market
QUESTION 7
Views fdi as having pros and cons and only approving fdi when its benefits outweigh costs
Pragmatic nationalis
QUESTION 8
What benefits exist to a country receiving fdi?
Capital inflow, technology spillovers, advanced management know-how, creates jobs
QUESTION 9
What costs exist to a country receiving fdi?
Loss of sovereignty, adverse effects on competition, net outflow in the capital account
QUESTION 10
The aggregation of importing and exporting that leads to the country-level trade surplus or deficit.
Balance of trade
QUESTION 11
Firms with a _____ degree of resource similarity are likely to have similar competitive actions
High
QUESTION 12
A high degree of resource similarity but low market commonality = _______ intensity of rivalry
Highest
WGU C211 OA GLOBAL ECONOMICS FOR MANAGERS EXAM
, QUESTION 13
Little resource similarity but high market commonality = _____ intensity of rivalry
Lowest
QUESTION 14
Mercantilism, absolute advantage and comparative advantage belong to what theory of international
trade
Classical
QUESTION 15
Theory of international trade that relies on more realistic product life cycles and first mover advantages
Modern
QUESTION 16
Under free trade, a nation gains by specializing in economic activities in which it has _____advantage
Absolute
QUESTION 17
Focuses on the idea that if a country does not have absolute advantage, they can still choose to
specialize in the production of one good where it has ______ advantage
Comparative
QUESTION 18
Comparative advantage and absolute advantage stem from
Factor endowments
QUESTION 19
Theory that the wealth of the world is fixed and that a nation that imports more and exports less will be
richer
WGU C211 OA GLOBAL ECONOMICS FOR MANAGERS EXAM
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