Which of the following is a societal consequence of market globalization?

Which of the following is a societal consequence of market globalization?
Answer: D
a.internationalization of firm's value chain
b.greater emphasis on proactive internationalization
c.new risks and instant rivalry from foreign competitors
d.offshoring and the flight of jobs

Which of the following would NOT be considered an example of foreign direct investment (FDI)?

Answer: A

a.
cross-border purchase of stocks


b.
purchase of capital assets of a foreign company


c.
purchase of foreign land for business operations


d.
cross-border purchase of a textile plant

________ is the total value of products and services produced in a country over the course of a year.
Answer:A

a.
GDP


b.
FDI


c.
PPP


d.
CAD

The fourth phase of globalization is characterized by ________.

Answer:  D


a.
the enormous growth of cross-border trade and investment


b.
the rise of railroads and ocean transport


c.
the initiation of the Marshall Plan to reconstruct Europe


d.
the reduction of barriers to trade by Western industrialized countries

Which of the following best explains why export growth has outpaced the growth of domestic production during the last few decades?
Answer:C

a.
The cost to import products is generally higher than the cost to produce domestic products.



b.
Growth in gross domestic product in most countries has steadily increased since 1970.


c.
Advanced economies now source many of their consumable products from low-cost manufacturing nations.



d.
Both world exports and domestic production have grown significantly

Each of the following has contributed to the rapid growth of trade among nations EXCEPT ________.
Answer:A

a.
the increase in trade barriers


b.
the growth of emerging market countries


c.
advances in information technology


d.
the liberalization of markets

Corruption is defined as ________.

Answer：A

a.
the abuse of power to achieve illegitimate personal gain


b.
the tendency to make decisions based purely on cognitive factors


c.
a manner of operating a business that meets or exceeds the ethical, legal, commercial, and public expectations of customers



d.
the system of procedures and processes by which corporations are managed, directed, and controlled

As market globalization intensifies, ________.
Answer： D


a.
the distance between consumers worldwide expands


b.
the gap between the rich and the poor shrinks rapidly



c.
firms internationalize solely as a reaction to it


d.
individual firms respond to the challenges and new advantages that it brings

________ refers to offering, giving, receiving, or soliciting anything of value to influence the actions of a government official or a corporate manager.
answer：A
a. Bribery refers to offering, giving, receiving, or soliciting anything of value to influence the actions of a government official or a corporate manager. It is a form of corruption that involves exchanging money, gifts, or other benefits in exchange for preferential treatment, contracts, or other advantages. Bribery is illegal in most countries and is generally considered to be unethical and detrimental to good governance and fair competition. Many organizations and countries have implemented legal and ethical frameworks to combat bribery and promote transparency, accountability, and good governance.
a.
Bribery


b.
Patenting


c.
Normativism


d.
Piracy

Each of the following represents a factor of production EXCEPT ________.

Answer：Aa. Government regulations are not considered a factor of production. Factors of production are the resources that are used to produce goods and services, including natural resources, labor, capital, and entrepreneurship. Government regulations are rules and policies that are designed to regulate economic activity and promote public welfare. While government regulations can have an impact on the factors of production, they are not themselves a factor of production.

a.
government regulations


b.
technology


c.
manufacturing infrastructure


d.
managerial talent