QUESTION 1
1. Which of the following is not characteristic of globalization?
National economies are turning into independent economic systems.
Material culture is starting to look similar the world over.
Perceived distance is shrinking due to advances in transportation and telecommunications.
Barriers to cross-border trade and investment are declining.
QUESTION 2
1. Globalization has _____ the opportunities for a firm to expand its revenues by selling around the world and _____ its costs by producing in nations where key inputs are cheap.
reduced, reduced
increased, increased
increased, reduced
reduced, increased
QUESTION 3
1. Since the collapse of communism at the end of the 1980s, the erstwhile communist nations have transformed their economies by encouraging all of the following except:
privatizing state-owned enterprises.
regulating markets.
increasing competition.
welcoming investment by foreign businesses.
