Exam 1: Globalization

What is the World Trade Organization? What is its role in the world economy?

NAFTA was passed only after:

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

Differences between countries require that an international business vary its practices country by country.

In the 1970s, many Japanese firms invested in North America and Europe:

The financial crisis in the U.S. in 2009 was triggered by ____.

The World Trade Organization promotes ____.

_____ occurs when a firm exports goods or services to consumers in another country.

Explain the notion of the Internet emerging as an equalizer.

_____ have/has the most to gain from reductions in agricultural tariffs and subsidies that are a part of the Doha agenda.

What is the main reason that managing an international business differs from managing a domestic business?

Which of the following has enabled globalization of markets?

Discuss the demographics of world trade since the 1960s. How has the role of the U.S. changed? How is world trade expected to change in the future?

Efficiency gains associated with containerization have caused transportation costs to fall dramatically.

A study published in 2011 by the OECD noted that:

A firm does not have to become a multinational enterprise to engage in international business.

In 2008 and 2009, the GATT became the forum though which major nations attempted to launch a coordinated policy response to the global financial crisis, which started in America.

Since the collapse of communism at the end of the 1980s, the erstwhile communist nations have transformed their economies by globalizing their markets. This involves ____.

Which of the following factors hinders globalization of consumer goods market?

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