False Quiz 2 1 Imports are services as well as manufactured goods which are

False quiz 2 1 imports are services as well as

This preview shows page 86 - 88 out of 113 pages.

False. Quiz 2 1. Imports are services as well as manufactured goods which are brought from a firm in foreign country and then brought into the country of firm purchasing them. True 2. Historically a feudal, underdeveloped, poor country, Tinesia has recently seen rising income which has helped increase demand for basic products and service. Which of the following would best describe Tunisia's market? Lesser developed feudal market 3. Whereas relocating production to low-cost locales traditionally meant production of goods almost exclusively, it increasingly applies to the production of ________. Services 4. As former competitors in many industries link up to challenge others on a worldwide basis, _____occurs. Consolidation. 5. Chapter Two presents three types of markets found around the world: Developed, Emerging and Traditional. True 6. The three main goals of the World Trade Organization (WTO) are to help the free flow of trade, help negotiate the further opening of markets, and ________. settle trade disputes between its members 7. The WTO’s 3 critical goals are to assist in the negotiation of opening markets around the world, to foster the free flow of trade between nations, and ______ Settle trade disputes between its members
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8. The term "globalization of production" refers to convergence in buyer preferences in markets around the world. False. Should be globalization of market. 9. Donna Bader, Globalization opponent: Donna Bader spent her final year at college studying the effect of various economic factors on the economy of developing nations. Based on the results of her study, she concluded that globalization does these countries more harm than good. Upon what assumption does Donna’s conclusion rest? Donne assumes that____. There are no factors other than globalization which influence the economic conditions of a country 10. Donna Bader, Globalization opponent: Donna Bader spent her final year at college studying the effect of various economic factors on the economy of developing nations. Based on the results of her study, she concluded that globalization does these countries more harm than good. Which of the following statements, if true, weaken her argument? With the exposure to new technology and cultural trends, the standard of living in developing countries has improved. 11. Donna Bader, Globalization opponent Donna Bader spent her final year at college studying the effect of various economic factors on the economy of developing nations. Based on the results of her study, she concluded the globalization does these countries more harm than good. Which of the following statements, if true, strengthens Donna’s argument? Many companies take advantage of lenient labor laws by setting up facilities in low-income countries. 12. Gross national product (GNP) is the value of all goods and service imported into a county over a one-year period.
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  • Fall '07
  • Nicholson
  • Economics, Correct Answer, Planned economy

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