Question 1

The link between labor costs in China and the price of MP3 music players in the United States is an example of ________.

Question 2

The growing demand for biofuels in the United States that has led to a growing supply of soybeans from Brazil is an example of all of the following EXCEPT ________ economies.

Question 3

An example of globalization of ________ is Toyota opening a factory in Kentucky.

Question 4

A term that describes the movement of production away from a domestic production site to a foreign location is ________ outsourcing.
Question 5

The developing country of Alpha had a rule that none of its factories could be owned by companies from the developed country of Beta. If Alpha drops this rule, this would be an example of ________.

Question 6

Which of the following is contributing to the acceleration of globalization?

Question 7
0 / 1 pts
All of the following contribute to accelerating globalization EXCEPT ________.

Question 8

Brazil has experienced rapid economic growth and increased sales of its products to other countries. This is an example of a(n) ________.

Question 9

The nation of Baa-Baa raises sheep relatively more efficiently than the nation of Snuggle. Snuggle weaves woolen blankets relatively more efficiently than Baa-Baa. Baa-Baa decides to specialize in raising sheep, to sell wool to Snuggle, and to buy blankets from Snuggle. Snuggle decides to specialize in blanket weaving, to sell blankets to Baa-Baa, and to buy wool from Baa-Baa. This international trade illustrates ________ advantage.

Question 10

If the United States has the ability to produce more steel than any other country in the world, the United States has a(n) ________ advantage in steel production.

Question 11

A country's launching of a government-owned telecommunications satellite is an example of investing in ________.

Question 12

A U.S. consumer electronics company has to shut down because it cannot compete against foreign manufacturers. For the United States, this is an example of a(n) ________ of international trade.

Question 13

U.S. farmers export canned sweet corn to Germany, which lowers the price to a German consumer by a few cents. The benefits to Germany of this international trade deal are ________.

Question 14

If the nation of Epsilon places a tax on all grapes imported from the nation of Zeta, Epsilon has imposed a(n) ________.

Question 15

As a result of their influence on the quantity, variety, and quality of products, trade barriers ________ domestic consumers.

Question 16

The country of Theta restricts the activities of foreign insurance companies in order to give Theta's insurance industry a chance to grow and develop. Theta's actions are an example of the ________ argument in favor of protectionism.

Question 17

The cheap foreign labor argument for protectionism refers to ________.

Question 18

The oldest and largest free trade area in the world is ________.

Question 19

With a global strategy for conducting business internationally, a company competes ________.

Question 20

Disadvantages of ________ include losing control over a company because compromise with the partner is inevitable and the risk of losing proprietary technology in the event of dissolution of the partnership.

Question 21

Cooperative arrangements between actual or potential competitors in which each partner retains its business independence are known as ________.

Question 22

The ratio at which Australian dollars are converted into Indonesian rupiah is known as the ________ rate.

Question 23

U.S. exporters prefer a(n) ________ dollar.

Question 24

What is a valid explanation as to why some nations retain nonconvertible currency?

Question 25

What is the opposite of nonconvertible currency?