International Money and Business summary Questions and Answers 2023

India has more millionaires than does China, despite China's higher savings rate. - -false -Foreign exchange markets are - -located in major trading capitals and have a virtual presence. -When a firm enters overseas markets, economic analyses become more complex because now managers must operate in two new environments: domestic and international. - -false -The FX markets in the U.S. are - -controlled by the state banking commissions. -When conducting international economic analyses, it is usually the responsibility of the local subsidiary to collect data and prepare reports. - -false -In terms of economic development and competencies, India's strength so far has been in services whereas China's has been in manufacturing. - -True -"Developing" is the term given to the world's lowest-income nations, which are technically undeveloped. - -false -India's average manufacturing labor cost per hour in 2014 was about one-quarter as high as China's. - -True -Economic data provide information on the number of people, and the socioeconomic data tell us if they have purchasing power. - -false -The purpose of economic analysis is to assess the overall outlook of the economy and the impact of economic changes on the firm. - -True -Gross national income (GNI) is the total v