Chapter 1

Question 0

Two of the three main components of globalization are?

Answer 0

Globalization of markets and production

Question 1

The trend towards a more integrated global economy is known as what?

Answer 1

Globalization

Question 2

The sourcing of goods and services from locations around the globe is knows as?

Answer 2

The globalization of production

Question 3

The global dispersal of production activities is found in what size firms?

Answer 3

In all sizes of firms

Question 4

Coca cola and Pepsi are examples of what?

Answer 4

Global competition

Question 5

Globalization results in a greater degree across markets of what?

Answer 5

Uniformity

Question 6

What area are most global markets?

Answer 6

Industrial goods

Question 7

The ______ was created in 1944 by 44 nations that met in Brenton Woods, New Hampshire

Answer 7

International Monetary Fund

Question 8

The ________ is seen as a lender of last resort to nation states whose economies are in turmoil with currencies that are loosing value

Answer 8

International Monetary Fund

Question 9

The two macro factors leading the trend of greater globalization are:

Answer 9

Decline in trade barriers (free flow of goods and services) and technological change

Question 10

With 192 member countries the ____ was created to preserve peace through international cooperation

Answer 10

United Nations

Question 11

Investing resources in business activities outside a firm’s home country is referred to as?

Answer 11

Foreign direct investment

Question 12

The ______ is a treaty designed to remove barriers to free flow of goods and services and capital between nations

Answer 12

General Agreement on tariffs and trade

Question 13

When a country exports goods or services to consumer in another country it’s known as what?

Answer 13

International trade

Question 14

Under the GATT there have been 8 rounds of negotiations among member states the most recent one was?

Answer 14

Uruguay round

Question 15

What does GATT stand for?

Answer 15

General Agreement of Tariffs and Trade

Question 16

The agency established in the 1993 Uruguay round is known as?

Answer 16

World Trade Organization

Question 17

If a company has a complain about a international trade issue who could they take it to?

Answer 17

World Trade Organization

Question 18

Have the average tariff rates risen or fallen since 1950

Answer 18

Fallen

Question 19

Between 1990 and 2000 the flow of FDI worldwide grew how many times?

Answer 19

5

Question 20

Between 1950 to 2000 the world trade grew by 20, and the world output grew by what?

Answer 20

12%

Question 21

What does WTO stand for?

Answer 21

World Trade Organization

Question 22

The lowering of trade barriers to international trade has done what?

Answer 22

Enabled firms to approach the world as their market

Question 23

Evidence suggests that the FDI is playoff what role in world economy?

Answer 23

An increasing role

Question 24

What is the major cause for the lowering of trade barriers?

Answer 24

Technological change

Question 25

What is the most important technological innovation that has been developed?

Answer 25

Microprocessor

Question 26

____ is the theory that predicts the power of the microprocessor technology doubling and the cost of production falls every 18 months

Answer 26

Moore's law

Question 27

The greatest potential of the Web is between what areas?

Answer 27

Business to business

Question 28

Due to containerization what have transport costs in terms of globalization done?

Answer 28

They have dropped

Question 29

Most dominant power in the 1960s?

Answer 29

America

Question 30

Which is the only country who has not seen a drop in world output?

Answer 30

China

Question 31

2006 worlds largest exporter?

Answer 31

America

Question 32

Between 2008-9 Canada's imports did what?

Answer 32

They fell

Question 33

What kind of enterprise is a business that has productive actives in two or more countries?

Answer 33

Multinational

Question 34

What are mini-multinationals?

Answer 34

Medium- small sized multinationals

Question 35

The decline of U.S. Dominance can be linked to two factors: globalization of the worlds economy and what?

Answer 35

Japan's rise to the top rank of economic powers

Question 36

Outsourcing has extended to what Canadian industry?

Answer 36

iT

Question 37

What is the primary purpose of the world trade organization?

Answer 37

To arbitrate trade disputes

Question 38

The WTO and trading polices were established by what?

Answer 38

GATT