WGU C211 COMPREHESIVE STUDY GUIDE QUESTIONS AND
VERIFIED ANSWERS QUICK BREAK THROUGH 2024
UPDATE NEWEST
The term "emerging economies" has replaced the term - (correct answer)
developing countries
The gross domestic product plus the income from non-resident sources abroad gives
the - (correct answer) gross national product
Which of the following countries would be characterized as an emerging economy? -
(correct answer) Brazil
More than 25% of global GDP comes from - (correct answer) BRICS countries
Viewing the global economy as a pyramid, the Triad refers to - (correct answer)
North America, Western Europe, and Japan
People who earn _____ a year comprise the base of the global economic pyramid. -
(correct answer) less than $2,000
Which of the following would be an example of a top down innovation? - (correct
answer) Lowering prices and features of existing products to meet emerging market
needs
Which of the following is true of the Group of 20 (G-20) - (correct answer) It only has
19 member countries.
Which of the following does the institution-based view of global business lay emphasis
on? - (correct answer) Understanding the laws and values of the firm's host nation
The resource-based view of global business differs from the institution-based view of
global business in that the resource-based view _____ - (correct answer) focuses
on the internal strengths on the firm
The liability of foreignness is the inherent disadvantage faced by _____ - (correct
answer) foreign firms in host nations due to their non-native status
Which of the following is true of globalization according to the "new force" perspective? -
(correct answer) It is a western ideology focused on exploiting and dominating the
world through MNEs
The concept of _____ suggests that barriers to market integration at borders are high,
but not high enough to completely insulate countries from each other - (correct
answer) semiglobalization
,The strategy of treating each country as a unique market and in total isolation is referred
to as _____ - (correct answer) localization
MNEs from the Triad dominate the list of the 500 largest MNEs; their share has been
_____ - (correct answer) shrinking
The term "emerging economies" has replaced the term _____ - (correct answer)
developing countries
A conversion that determines the equivalent amount of goods and services that different
currencies can buy is known as _____ - (correct answer) purchasing power parity
Which of the following countries would be characterized as an emerging economy? -
(correct answer) Brazil
More than 25% of global GDP comes from _____ - (correct answer) BRICS
countries
Which of the following countries is represented in the Triad of the global economic
pyramid? - (correct answer) Japan
People who earn _____ a year comprise the base of the global economic pyramid. -
(correct answer) less than $2,000
A _____ is defined as an innovation that is adopted first in emerging economies and
then diffused around the world - (correct answer) reverse innovation
Which of the following is true of the Group of 20 (G-20) - (correct answer) It only has
19 member countries
The _____ view suggests that the success and failure of firms are largely determined by
their environments - (correct answer) institution-based
The _____ view of global business focuses on internal factors that can help a firm
overcome its external environment - (correct answer) resource-based
Which of the following is true of globalization according to the "pendulum view"
perspective? - (correct answer) Globalization is a not a one-directional
phenomenon.
The concept of _____ suggests that barriers to market integration at borders are high,
but not high enough to completely insulate countries from each other. - (correct
answer) semiglobalization
, _____ is the strategy of treating the entire world as one market. - (correct answer)
Standardization
Protectionism is similar to mercantilism as they both advocated _____. - (correct
answer) government involvement in international trade
The _____ principle advocated that governments should actively protect domestic
industries from imports and vigorously promote exports. - (correct answer)
protectionism
Which of the following is a modern trade theory? - (correct answer) National
competitive advantage
Which of the following trade theories divides the nations of the world into three
categories? - (correct answer) Product life cycle
Which of the following was the first international trade theory to account for changes in
the patterns of trade over time? - (correct answer) Product life cycle theory
In the third stage of the product life cycle theory, the _____. - (correct answer)
product is standardized
Which of the following describes resource mobility as assumed by the classical theories
of international trade? - (correct answer) It is the assumption that a resource used in
producing a product for one industry can be shifted and put to use in another industry.
The theory of comparative advantage _____. - (correct answer) explains patterns of
trade based on factor endowments
Deadweight costs are net losses that occur when _____ are imposed. - (correct
answer) import tariffs
_____ are government payments to domestic firms. - (correct answer) Subsidies
Which of the following is true of voluntary export restraints? - (correct answer) It is
an export quota levied by a country on the quantity of its exports.
Which of the following is true of voluntary export restraints? - (correct answer) It is
an export quota levied by a country on the quantity of its exports.
_____ are tariffs levied on imports sold below costs to drive domestic firms out of
business. - (correct answer) Antidumping duties
FPI refers to the _____. - (correct answer) investment in a portfolio of foreign
securities that do not entail the active management of foreign assets
VERIFIED ANSWERS QUICK BREAK THROUGH 2024
UPDATE NEWEST
The term "emerging economies" has replaced the term - (correct answer)
developing countries
The gross domestic product plus the income from non-resident sources abroad gives
the - (correct answer) gross national product
Which of the following countries would be characterized as an emerging economy? -
(correct answer) Brazil
More than 25% of global GDP comes from - (correct answer) BRICS countries
Viewing the global economy as a pyramid, the Triad refers to - (correct answer)
North America, Western Europe, and Japan
People who earn _____ a year comprise the base of the global economic pyramid. -
(correct answer) less than $2,000
Which of the following would be an example of a top down innovation? - (correct
answer) Lowering prices and features of existing products to meet emerging market
needs
Which of the following is true of the Group of 20 (G-20) - (correct answer) It only has
19 member countries.
Which of the following does the institution-based view of global business lay emphasis
on? - (correct answer) Understanding the laws and values of the firm's host nation
The resource-based view of global business differs from the institution-based view of
global business in that the resource-based view _____ - (correct answer) focuses
on the internal strengths on the firm
The liability of foreignness is the inherent disadvantage faced by _____ - (correct
answer) foreign firms in host nations due to their non-native status
Which of the following is true of globalization according to the "new force" perspective? -
(correct answer) It is a western ideology focused on exploiting and dominating the
world through MNEs
The concept of _____ suggests that barriers to market integration at borders are high,
but not high enough to completely insulate countries from each other - (correct
answer) semiglobalization
,The strategy of treating each country as a unique market and in total isolation is referred
to as _____ - (correct answer) localization
MNEs from the Triad dominate the list of the 500 largest MNEs; their share has been
_____ - (correct answer) shrinking
The term "emerging economies" has replaced the term _____ - (correct answer)
developing countries
A conversion that determines the equivalent amount of goods and services that different
currencies can buy is known as _____ - (correct answer) purchasing power parity
Which of the following countries would be characterized as an emerging economy? -
(correct answer) Brazil
More than 25% of global GDP comes from _____ - (correct answer) BRICS
countries
Which of the following countries is represented in the Triad of the global economic
pyramid? - (correct answer) Japan
People who earn _____ a year comprise the base of the global economic pyramid. -
(correct answer) less than $2,000
A _____ is defined as an innovation that is adopted first in emerging economies and
then diffused around the world - (correct answer) reverse innovation
Which of the following is true of the Group of 20 (G-20) - (correct answer) It only has
19 member countries
The _____ view suggests that the success and failure of firms are largely determined by
their environments - (correct answer) institution-based
The _____ view of global business focuses on internal factors that can help a firm
overcome its external environment - (correct answer) resource-based
Which of the following is true of globalization according to the "pendulum view"
perspective? - (correct answer) Globalization is a not a one-directional
phenomenon.
The concept of _____ suggests that barriers to market integration at borders are high,
but not high enough to completely insulate countries from each other. - (correct
answer) semiglobalization
, _____ is the strategy of treating the entire world as one market. - (correct answer)
Standardization
Protectionism is similar to mercantilism as they both advocated _____. - (correct
answer) government involvement in international trade
The _____ principle advocated that governments should actively protect domestic
industries from imports and vigorously promote exports. - (correct answer)
protectionism
Which of the following is a modern trade theory? - (correct answer) National
competitive advantage
Which of the following trade theories divides the nations of the world into three
categories? - (correct answer) Product life cycle
Which of the following was the first international trade theory to account for changes in
the patterns of trade over time? - (correct answer) Product life cycle theory
In the third stage of the product life cycle theory, the _____. - (correct answer)
product is standardized
Which of the following describes resource mobility as assumed by the classical theories
of international trade? - (correct answer) It is the assumption that a resource used in
producing a product for one industry can be shifted and put to use in another industry.
The theory of comparative advantage _____. - (correct answer) explains patterns of
trade based on factor endowments
Deadweight costs are net losses that occur when _____ are imposed. - (correct
answer) import tariffs
_____ are government payments to domestic firms. - (correct answer) Subsidies
Which of the following is true of voluntary export restraints? - (correct answer) It is
an export quota levied by a country on the quantity of its exports.
Which of the following is true of voluntary export restraints? - (correct answer) It is
an export quota levied by a country on the quantity of its exports.
_____ are tariffs levied on imports sold below costs to drive domestic firms out of
business. - (correct answer) Antidumping duties
FPI refers to the _____. - (correct answer) investment in a portfolio of foreign
securities that do not entail the active management of foreign assets
