Globalization

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Question 1
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Since Wally's Whistles is a medium-size business, it wouldn't benefit from globalization.

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Question 2
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Globalization of production can help companies lower their overall cost structure or improve the quality or functionality of their product offering.

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Question 3
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Johann's business does not make consumer products; therefore, it would not be likely to participate in global markets.

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Question 4
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Outsourcing is a process that is limited to manufacturing enterprises.

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Question 5
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The World Bank has focused on policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties.

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Question 6
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When Cyprus had a financial crisis, it went to the World Bank, known as the lender of last resort, to bail it out.

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Question 7
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One of the UN's central mandates is the promotion of higher standards of living, full employment, and conditions of economic and social progress and development.

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Question 8
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The Uruguay Round, finalized in December 1993, reduced protection for patents, trademarks, and copyrights.

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Question 9
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"Beggar thy neighbor" retaliatory trade policies involved countries progressively lowering trade barriers against each other, which contributed to the Great Depression of the 1930s.

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Question 10
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Rivers Inc., a U.S.-based sports apparel manufacturer, sets up a production unit in China to take advantage of the lower labor costs there. This is an example of foreign direct investment.

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Question 11
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World Bank gives aid of $100 million to Kenya for creating rural health care facilities. This is an example of foreign direct investment.

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Question 12
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The lowering of barriers to international trade enables firms to view the world, rather than a single country, as their market.

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Question 13
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According to WTO data, the volume of world merchandise trade has grown faster than the world economy since 1950.

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Question 14
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The cost of microprocessors continues to fall, while their power increases. This statement supports the predictions made by Moore's Law.

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Question 15
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Foreign direct investment by non-U.S. firms increased because they wanted to disperse production activities to optimal locations and to build a direct presence in major foreign markets.

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Question 16
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A current trend in international business is the decline of medium-sized and small multinationals, known as mini-multinationals.

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Question 17
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The globalization of the world economy has resulted in a relative increase in the dominance of U.S. firms in the global marketplace.

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Question 18
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Because Russia has shown signs of shifting back toward greater state involvement in economic activity and authoritarian government, doing business in Russia is considered risky.

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Question 19
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According to globalization critics, the decline in unskilled wage rates is due to the migration of low-wage manufacturing jobs offshore and a corresponding reduction in demand for unskilled workers.

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Question 20
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Evidence suggests that technological change has had a bigger impact than globalization on the declining share of national income enjoyed by unskilled labor.

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